Rana Kapoor reappointed as MD and CEO of Yes Bank for 3 more years

According to the bank, the general body of its shareholders have approved all 13 resolutions at the 14th Annual General Meeting (AGM) of the company held on Tuesday. The company said that Kapoor's re-appointment is subject to final approval by the Reserve Bank of India (RBI). 

"The shareholders have approved through special resolution to raise capital aggregating up to $1 billion by way of issue of shares," the company said in a statement. "The shareholders also approved through special resolution the proposal to borrow/raise funds in Indian/foreign currency by issue of Debt Securities including but not limited to Non-Convertible Debentures, Medium Term Notes and Bonds up to a total amount of Rs 300 billion."

For 4th consecutive time, Dubai airport is top international spot in 2017

Dubai International Airport says it has held on to its No 1 ranking as the world's busiest airport for international travel, after seeing some 88.2 million passengers in 2017.
The airport offered the statistics in a statement released on Monday.
It comes after airport saw 83.6 million passengers in 2016. Dubai Airports CEO Paul Griffiths says he expects the airport to see 90.3 million passengers in 2018.
Dubai International Airport first surpassed London Heathrow as the world's busiest airport for international traffic in 2014.

It has maintained the title ever since, with some 90 airlines flying into skyscraper-studded Dubai, a gateway for East-West travel. The airport is home to the long-haul carrier Emirates.
Hartsfield-Jackson Atlanta International Airport in Georgia remains the world's busiest airport overall.

Here's why billionaire Warren Buffett will never invest in cryptocurrencies

Berkshire Hathaway’s Warren Buffett said on Wednesday he will never invest in cryptocurrencies.
“I can say almost with certainty that cryptocurrencies will come to a bad end,” Buffett told CNBC in an interview.

Buffett’s comments come a day after JPMorgan & Chase Chief Executive Jamie Dimon said he regrets calling bitcoin a fraud, referring to comments he made at a banking conference in September.

Bitcoin has taken the investing world by storm, surging to a high of more than $19,000 and created a divide on Wall Street about whether it is a legitimate financial instrument.
Bitcoin was down around 3 per cent at $13,981.53..
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Volkswagen looks at rehiring Opel CEO: Source

Carmaker Volkswagen is looking at rehiring the chief executive of General Motors' Opel, possibly to lead its Audi brand, a source familiar with the matter told Reuters on Sunday, following a media report the executive will quit Opel.

Opel boss Karl-Thomas Neumann plans to resign as General Motors (GM) prepares to sell the business to France's PSA Group, German newspaper Frankfurter Allgemeine Sonntagszeitung (FAS) reported over the weekend.

Without citing its sources, the newspaper said Neumann saw the sale as the right strategic step, but was concerned PSA under-estimated the growing importance of electric cars.

The source said Volkswagen (VW) bosses were informally discussing giving Neumann, who quit VW in 2013 for the Opel top job, a prominent position, potentially as head of premium brand Audi.

VW and Opel declined to comment.

Audi CEO Rupert Stadler has come under fire for how he has handled the fallout from VW's diesel emissions scandal.

He only received a five-year contract extension last month because of an agreement among supervisory board members that he would not serve out his full term, two sources have told Reuters.

Pressure has built on Stadler after Munich prosecutors widened an investigation into the premium carmaker, and after Germany's transport ministry accused Audi of cheating on emissions tests.

In an interview with trade publication Automobilwoche, Stadler over the weekend defended his record: "The diesel crisis has consumed and is still consuming resources. I'm still convinced that we have initiated the right strategic steps."

Neumann, 56, planned to inform Opel's supervisory board about his decision at its next meeting on June 22, FAS said, adding he wanted to stay on only until GM completed the sale of Opel to PSA, owner of the Peugeot, Citroen and DS brands.

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While Trump tries to bring back coal, the UK goes coal-free

When you’re in a hole, it’s usually best to stop digging. But when President Trump told supporters at his 100th day rally in Pennsylvania that “we are putting our coal miners back to work,” he just burrowed deeper into the bed of administration lies on energy.

The truth of the matter is that climate regulations aren’t a “war on coal,” and no amount of presidential photo-ops will bring mining jobs back. A recent report from the Center for Global Energy clearly shows why.

The demand for U.S. coal has collapsed in the past six years, it explains, following big improvements in energy efficiency (like better lighting and appliances), cheaper gas and renewables, and a decline in coal exports as other countries look to cleaner sources of energy.

Three of the four largest coal mining companies have filed for bankruptcy, while Bob Murray — CEO of the largest remaining one — recently warned Trump that coal jobs are unlikely to return. The CEO should know, as Murray Energy’s formula for avoiding bankruptcy has largely involved slashing jobs, compromising safety, and worsening labor conditions.

America’s main competitors get the point and have already planned to phase out coal. On April 21, the United Kingdom met its energy needs without burning any coal at all — for the first time since the Industrial Revolution. And the country’s last coal-burning power station will close within the next decade.

Meanwhile, a majority of energy companies in the European Union have promised to stop investing in new coal plants by 2020.
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