Hong Kong - HSBC’s head of banking in Europe and the Americas Gerry Keefe has resigned, becoming the latest senior banker to depart since the bank’s global overhaul launched in 2024.
The bank announced the news on Tuesday, according to an internal memo reviewed by Reuters and confirmed by a company spokesperson.
Jo Miyake, head of Asia and the Middle East banking, was named to take on Keefe’s role on an interim basis, the spokesperson said. Reuters
BMW deliveries decline on weak US, China sales
Gdansk — BMW reported a 3.5% drop in global deliveries for the first three months of 2026 on Tuesday, as weak demand in China and the US weighed on the German premium carmaker’s sales.
The group sold 565,748 vehicles in the quarter. While sales of BMW and MINI brands grew 3% in Europe, it was not enough to offset respective declines of 4.3% and 10% in the USs and China, respectively. BMW became the latest major German carmaker to report falling deliveries in China, joining peers Mercedes-Benz, Porsche, Audi and Volkswagen. Reuters
Sweden’s Stegra raises €1.4bn for greenfield plant
Stockholm — Swedish green steel start-up Stegra said on Tuesday it had raised €1.4bn from an investor consortium led by the Wallenberg family, providing a lifeline to complete construction of its greenfield plant.
Stegra, formerly known as H2 Green Steel, has sought for months to raise more cash to finish its flagship hydrogen-based steel plant in northern Sweden.
“This financing reflects the strong conviction in Stegra’s business model among new and existing investors, as well as lenders,” CEO Henrik Henriksson said in a statement. Reuters
Intertek mulls splitting into separate businesses
Bengaluru — British product testing and certifications group Intertek is considering splitting into separate energy/infrastructure and testing/assurance businesses, it said on Tuesday, sending its shares as much as 14% higher.
The company said the move could help boost growth and returns for shareholders and that, if it decided to proceed, the plan could be implemented by mid-2027.
RBC analysts said any demerger could lead to higher costs and reduced investments, but added that consolidation in the sector suggested neither of the two businesses would remain independent for long. Reuters
Airlines urge EU to tackle Iran war repercussions
Brussels - European airlines have urged the EU to step in with emergency measures to tackle repercussions from the Iran war, including widespread airspace closures and mounting concerns over jet fuel shortages, a document seen by Reuters showed.
Industry group Airlines for Europe has requested that the EU introduce a raft of crisis response measures, including EU-level monitoring of jet fuel supplies, a temporary suspension of the EU’s carbon market for aviation, and scrapping certain aviation taxes, it said in the document.
Amazon.com to buy satellite company Globalstar
Bengaluru — Amazon.com said on Tuesday it would acquire Globalstar in an $11.57bn deal, bolstering its fledgling satellite business as it looks to take on Elon Musk-led bigger rival Starlink.
Shares of satellite company Globalstar were up more than 9% in premarket trading after gaining more than 6% in the past two weeks following media reports of the companies’ discussions.
The stock had nearly doubled in value last year and has risen about 12% so far this year before news of an acquisition emerged. Amazon shares rose about 1% on Tuesday.
The deal gives Amazon access to Globalstar’s network of two dozen satellites, boosting the tech giant’s ambitions to challenge SpaceX unit Starlink, which now has about 10,000 units in orbit. Reuters
OCI Holdings’ unit, SpaceX enter polysilicon talks
Seoul — A Malaysian unit of South Korea’s OCI Holdings is in talks with SpaceX to supply polysilicon, a South Korean newspaper said on Tuesday.
OCI TerraSus, a Malaysian unit of OCI Holdings, is in talks with SpaceX for a multi-year supply contract for polysilicon and is discussing detailed terms, South Korea’s Maeil Business Newspaper reported, citing unnamed industry sources.
SpaceX did not immediately respond to a request for comment. Reuters
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