Tesla’s general counsel is leaving the company after just two months on the job — the latest in a series of executive departures at Elon Musk’s electric car company. Dane Butswinkas, who joined Tesla in December, will return to his legal practice at Williams & Connolly in Washington, the company said in a statement Wednesday.…… MORE
Southwest Airlines continues to grapple with an “operational emergency” after an unusually high number of planes have been taken out of service. The Dallas-based airline has been forced to cancel hundreds of flights since late last week because of mechanical problems with its fleet. Despite an “all hands on-deck” staffing policy for its mechanics, the…… MORE
Payless ShoeSource is heading back into bankruptcy. This time it will close its doors. The 63-year old discount shoe retailer filed for Chapter 11 bankruptcy protection on Monday, less than two years after it emerged from its previous bankruptcy. The bankruptcy filing Monday follows the start of going-out-of-business sales Sunday at its 2,500 US and…… MORE
UBS faces a massive financial penalty in France after a court there ruled that the Swiss bank helped its wealthy clients avoid taxes. The court delivered its verdict in Paris on Wednesday, ordering the bank to pay €4.5 billion ($5.1 billion) and finding it guilty of money laundering and illegal client solicitations. The fines include…… MORE
Japan’s top companies are losing patience with the United Kingdom as Brexit fast approaches. Honda became the latest to reduce its exposure to the British economy, announcing Tuesday that it will shutter its only manufacturing plant in the country by 2021, a move that is expected to result in the loss of at least 3,500…… MORE
The US Federal Aviation Administration is investigating how Southwest Airlines tracks the weight of checked bags on its flights. The FAA began its probe in February 2018, the FAA said told CNN Business on Monday. “Since that time, the FAA has directed the development of a comprehensive solution to the methods and processes used by…… MORE
Honda has just dealt the United Kingdom’s auto industry a huge blow. The Japanese carmaker said Tuesday that it will shut down a major manufacturing plant in the English town of Swindon that employs 3,500 people. Thousands more jobs will be put at risk at suppliers and other businesses. Honda has made more than 3…… MORE
Saudi Arabia’s crown prince is in Asia forging new ties and seeking deals as he tries to keep his dream of economic transformation alive following a chill in relations with the West. Mohammed bin Salman wrapped up his visit to Pakistan on Monday with agreements worth $20 billion — including one to develop alternative energy…… MORE
Retailers are pushing back against UK government plans for a deposit return program designed to encourage recycling of plastic bottles and aluminum cans. The government is considering whether deposits on bottles should apply to all drink containers, or be limited to containers that are 750 milliliters (26.4 fluid ounces) or less. Environmental groups overwhelmingly support…… MORE
After a tough 2018, global automakers look set for another bruising year. Data published Monday show that the slowdown in China, the world’s biggest car market, is getting worse. And the United States is considering imposing tariffs on imported cars, a move that would hit global brands hard. Passenger car sales in China slumped by…… MORE
