Business

Netflix hires two top ad executives from Snap

Netflix Inc (NFLX.O) lured two of Snap Inc’s (SNAP.N) top executives to lead its advertising sales team, the company announced Tuesday, poaching two people that lent the social media company credibility with brand marketers. Netflix confirmed it hired Snap’s chief business officer, Jeremi Gorman, as its new president of worldwide advertising. It also brought in […]

Business

Snap top ad executives exit amid report on staff cut plans

Snap Inc (SNAP.N) said on Tuesday its two senior advertising executives have exited the company, hours after a report disclosed the Snapchat parent was planning to cut about 20% of its workforce. The executives Jeremi Gorman, chief business officer, and Peter Naylor, vice president of ad sales for the Americas, will join Netflix Inc (NFLX.O), […]

Business

Toyota Motor to invest $5.3 bln in Japan, U.S. for EV battery supply

Toyota Motor Corp (7203.T)said on Wednesday it would invest up to 730 billion yen ($5.27 billion) in Japan and the United States to make batteries for fully electric vehicles, a category of automobile that critics say it has been slow to embrace. When the additional facilities come on line between 2024 and 2026, Toyota’s battery […]

Business

Russian stocks hit 3-month high as Gazprom surges on dividend plan; rouble dips

Shares in Russian gas giant Gazprom (GAZP.MM) leapt more than 30% in early Moscow trade on Wednesday after the company posted a record first-half profit and recommended interim dividends, pushing the benchmark MOEX stock index to a three-month high. After the market close on Tuesday, Gazprom said its board had recommended paying 51.03 roubles ($0.8505) […]

Business

Japan regulator to enhance bank surveillance as foreign interest rates rise

Japan will step up surveillance of banks’ risk control as interest rises abroad create latent losses in their foreign bond holdings, reflecting concerns about the impact of U.S. monetary tightening on the country’s financial system. The Financial Services Agency “will hold dialogues with the banks about control of market risk” because global interest rate rises […]

Business

FTSE Russell likely to add S.Korea to watch list for debt index inclusion

FTSE Russell is likely to add South Korea to a watch list in coming weeks for inclusion in its World Government Bond Index, the country’s vice finance minister said on Wednesday, heralding a move that could bring huge inflows of foreign funds. “We are closely working with FTSE Russell … and we’ve been receiving positive […]

Business

SAP hires Airbus executive as new finance chief

Airbus (AIR.PA) finance chief Dominik Asam will leave the company to take on the same role for German software group SAP (SAPG.DE) from March 2023, the companies said on Wednesday. Asam, 53, joined Airbus in 2019 after having worked at German chip maker Infineon (IFXGn.DE) as finance chief since 2011. “I hope to stay in […]