Business

WeWork said on Thursday it is laying off around 2,400 employees, almost 20% of its workforce, as the office-sharing company seeks to drastically cut costs after it transformed from a Wall Street darling into a pariah in a matter of weeks.

South African Airways (SAA) signed a deal on Friday with a union not involved in a strike that has crippled the heavily indebted carrier, giving its members a 5.9% pay rise backdated to April.

Sanofi's executive vice president in charge of strategy and business development, Muzammil Mansuri, a member of the French drugmaker's executive committee, will leave the firm by the end of the month, according to a memo seen by Reuters.

Auto sales at Ford Motor Co's China venture with Chongqing-based carmaker Changan are likely to turn positive next year, Changan’s president said on Friday.

Asia-focussed insurer AIA Group Ltd on Friday named a senior executive at Chinese rival Ping An Insurance Group Co as its chief executive officer to replace company veteran Ng Keng Hooi.

Global private equity group KKR & Co has raised $1.5 billion for its first Asia-focused infrastructure fund, roughly half the total targeted, one person with direct knowledge said. KKR began to target Asia's infrastructure sector with a series of hires beginning about a year ago and launched its fundraising in 2019.