May 22, 2017 / 9:46 PM / 7 months ago

Business Watch: Rumblings at Ford

Out with the (sort of) old

Ford Motor Executive Chairman Bill Ford (R) and James Hackett answer questions from the media after announcing Hackett was named as Ford Motor Company president and CEO, succeeding Mark Fields, in Dearborn, Michigan, U.S., May 22, 2017. REUTERS/Rebecca Cook

In an abrupt move, Ford announced big changes at its helm. The carmaker giant replaced CEO Mark Fields with James Hackett, an executive known for successfully overhauling other businesses such as furniture maker Steelcase and the University of Michigan football program.

Rob Cox at Breakingviews argues, however, that getting rid of Fields hardly gets Ford back in the race.

‘Oust me if you want’

Brazilian President Michel Temer made it clear he won’t give in to calls for his resignation amid a corruption scandal. Temer said he will not step down even if he is formally indicted by the Supreme Court, he told Folha de S. Paulo, Brazil’s largest newspaper.

Telecom revolution

Things have changed since the time when AT&T and Verizon (previously Bell Atlantic) made their money by connecting and carrying calls, local or long-distance. In the hyper-connected world we now live in, telecom giants are desperately trying to diversify with non-traditional services like TV and home security. So here’s how the S&P index that tracks them is possibly going to change.

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