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HSBC's Second-Largest Shareholder Is Now From China

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One of China's biggest insurers has become the second-largest shareholder of HSBC Holdings, but it won't influence how the U.K.-based bank is run, HSBC's departing Chief Executive Stuart Gulliver said.

Making Credit Suisse Swiss Again

Two years into its overhaul,Credit Suisse has returned to its Alpine roots by building up its Swiss unit and, more important, expanding the management of wealthy clients' money, long a staple of Swiss banks.

Visa Spent a Year Developing a 'Signature Sound'

Visa is launching a signature sound people will hear when they make a payment through a mobile device or at a cash register. Some options were eliminated for sounding 'angry' or eliciting 'visceral reactions.'

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Samsung's Rally Can't Keep Living on Memories

The Korean tech giant's stock price and profits have doubled in the past two years. Industry fundamentals suggest it will struggle to maintain that pace.

Roche's Immunotherapy Drug Extended Patients' Lives

Roche Holding said its immunotherapy drug Tecentriq slowed the progression of lung cancer and helped patients live longer in a late-stage study, bolstering the Swiss drugmaker's defense against a wave of cut-price competition to its top-selling medicines.

Who's Making Sam's Club a Hit in China? Picky Mothers

Wal-Mart Stores Inc.'s Sam's Club warehouse stores are a hit with mothers in China seeking high-quality imported products-even as the chain has struggled in the U.S. to shed a budget-minded image.

Engine Trouble Grounds Some Air New Zealand Flights

Air New Zealand experienced two separate issues with engines on Boeing 787-9 aircraft this week that forced the planes to turn back to Auckland.

Ford to Move Electric Car Production to Mexico

Ford plans to produce a future electric car in Mexico rather than make it in the U.S., reversing plans announced in January to make its Flat Rock, Mich., assembly plant near Detroit its main electric-vehicle production site.

Ernst & Young Promotes Kelly Grier to Run Its U.S. Business

Ernst & Young LLP named Kelly Grier as its new chairman and managing partner Wednesday, making her the first woman to lead the giant accounting and professional-services firm in the U.S.

Citigroup Faces $20 Billion Hit From Tax Overhaul

Citigroup finance chief John Gerspach said the bank is likely to take a hit of about $20 billion to profits under the tax plans recently passed by Congress.

(END) Dow Jones Newswires

December 07, 2017 07:15 ET (12:15 GMT)