STORY HIGHLIGHTS


COMPANY NEWS

CNC
Added On April 20, 2017

Now let's check more news from global companies.

Up first, United Airlines says that it won't fire any employees involved in the passenger dragging incident happened earlier this month.

UPDATES ON UNITED AIRLINES INCIDENT

The airline's CEO Oscar Munoz confirmed the decision on Tuesday.

Listing it a "system failure" at a conference call, Munoz said: "this is a true learning opportunity and will ultimately prove to be a watershed moment for our company as we work harder than ever to put our customers at the center of everything we do."

The airline is now reviewing it handles oversold flights in order to prevent similar incidents. It says it is talking to passengers and employees on how the airline can take a more "common-sense approach".

Munoz issued another apology Monday, saying "it is obvious from recent experiences that we need to do a much better job serving our customers."

He said the company is "dedicated to setting the standard for customer service among U.S. airlines."

The airline reported a 69-percent-plunge in its first-quarter profits on Monday.

HAINAN AIRLINE TO FLY BJ-MANCHESTER WITH 787

Staying in aviation ... where China's Hainan Airlines announced on Tuesday that it will use the Boeing 787 Dreamliners on its new route between Manchester and Beijing.

Airport officials says Hainan's flagship aircraft will start taking over flights on the route from May 1.

It follows the announcement last month, that Hainan Airlines is to increase the frequency of its flights at Manchester from four per week to five.

The Boeing 787 Dreamliners are a new generation of fuel-efficient long-distance aircraft, and are fitted with 36 business-class flatbed seats and 177 economy seats.

ZTE PROFITS SURGE IN Q1

Chinese telecom equipment maker ZTE reported a first quarter rise in profits on Tuesday.

In a filing to the Shenzhen Stock Exchange, the company said it had profits of 180 million U.S. dollars for January-March, up 27.8 percent year-on-year.

ZTE thanked increased revenues and better margins for the rise.

Sales revenues jumped 17.8 percent to 25.8 billion yuan, from the same period a year ago.

The company said it managed to ship 70 percent more chipsets in the first quarter, compared to last year.

ZTE also said that it is on track to start rolling out 5G commercially in the third quarter of 2018.


RBS STAKE MAY BE SOLD AT A LOSS

The British finance minister has admitted for the first time that the government is prepared to sell its stake in Royal Bank of Scotland (RBS) at a loss.

The treasury orginally took control of RBS, when it bailed out the bank at the height of the financial crisis in 2008. The government of the day bought a 72-percent stake for 45 billion pounds, at just over 5 pounds a share.

Today the shares are worth less than half that price, and finished Tuesday at 225 pence a share.

The bank has racked up losses of more than 50 billion pounds since the government bail-out.

BoA, GOLDMAN SEE PROFITS

Two major U.S. banks have reported increased profits for the first quarter of the year, amid higher interest rates and an energy sector rebound.

Profits at Bank of America were 4.35 billion U.S. dollars, up 44 percent from the same period last year.

Gains came from across its major divisions in the first quarter, although mostly its global banking unit.

Goldman Sachs profits also rose 80 percent from last year to 2.2 billion U.S. dollars.

But the firm disappointed analysts with a decline in revenues from institutional investors.