Americans now say they approve of free trade by 64%-27%, a margin of better than two to one. That's up from 57%-37% early in Trump's presidency, and 51%-41% near the end of...Politicsread more
Kudlow pointed to strong retail sales and low unemployment as signs that the U.S. economy remained strong.Marketsread more
The yield on the benchmark 10-year Treasury note briefly fell below the 2-year rate on Wednesday, a phenomenon in the bond market known as yield curve inversion, which is...Marketsread more
The MacBook Pro recall and its subsequent ban from flights underscores the increasing brand risk from problems with lithium-ion batteries.Technologyread more
Experts say the timing of Amazon executives' contributions to Rep. David Cicilline likely reflect the company's heightened urgency over growing regulatory scrutiny.Technologyread more
Despite aggressive strides, Waymo needs one thing before their self-driving cars become a seriously useful transportation system: people. We talked to the ones closest to it.Technologyread more
CNBC combed through Wall Street research to see which stocks are still a buy after their earnings reports.Marketsread more
Coinbase security chief Philip Martin explains, "Possession of a key is possession of your currency. What that means is that you can't revoke a cryptocurrency key, if that key...Technologyread more
Fraud investigator Harry Markopolos' accusations extended beyond GE's management to actuaries, auditors and analysts who he claims overlooked billions in liabilities.Marketsread more
The Supreme Court could strike down the constitutionality of the Consumer Financial Protection Bureau, an agency Elizabeth Warren has likened to her child and which Justice...2020 Electionsread more
Bianco Research's James Bianco suggests Wall Street is desperately looking for a signal that a 50 basis point cut is coming next month.Trading Nationread more
* Chief executive and CFO have both quit
* Only three conditional offers received for airline
* Planes have been grounded since April 17 (Adds details on CEO exit, background, share price move)
BENGALURU, May 14 (Reuters) - The chief executive and head of finance at Jet Airways have both quit, the Indian company said on Tuesday, further eroding hopes of a rescue of the debt-laden carrier that grounded operations last month.
Jet, once the biggest private carrier in the country, owes vast sums to its lessors, employees, fuel suppliers and other parties. It stopped all flights from April 17 after its lenders refused to give it any more funds to keep the carrier flying.
Jet, also saddled with roughly $1.2 billion in bank debt, was crippled by mounting losses as it attempted to compete with low-cost rivals Interglobe-owned IndiGo, SpiceJet Ltd and Wadia Group-owned GoAir.
The airline has been rapidly shedding aircraft in recent weeks, as lessors have rushed to deregister and repossess planes in the wake of the turmoil.
It has also lost hundreds of pilots, cabin crew and engineers to rivals and seen its valuable slots reallocated to rivals, further eroding any residual value and hopes of new investors stepping in to rescue the airline.
The departure of Chief Executive Vinay Dube comes hard on the heels of the resignation of Chief Financial Officer Amit Agarwal, announced earlier in the day. Agarwal's resignation was effective May 13, the company said in a statement.
Separately, the Economic Times newspaper reported on Tuesday that Jet's Chief People Officer Rahul Taneja had also resigned. Reuters was unable to confirm the report.
For months, Jet has tried to convince investors, including Etihad, to pump in money and save the airline. But suitors had some qualms and a deadline for any interested parties to submit binding bids for the carrier ended on Friday with no such offers.
State Bank of India (SBI), Jet's lead lender and the bank overseeing the sale process, said at the time it had only received three conditional offers, including one from Etihad.
"This had to happen," said analyst Ronil Dalal of Ambit Capital. "Considering the kind of bids that have come in and the monetary value of those bids, it seems like it is too little."
"It was long expected that Jet will eventually shut down and I think now that's coming to fruition."
Jet and SBI did not immediately respond to requests for comment on what options exist for Jet.
In its regulatory filing, the airline said Dube and Agarwal resigned due to personal reasons, without providing further details.
Dube took over as the airline's CEO in August 2017, filling in a spot that had been vacant since early 2016. Agarwal had been acting as CEO during that time.
Jet's shares closed 7.33% lower at 128.9 rupees on Tuesday, while the broader Mumbai market closed 0.66% higher. (Reporting by Nivedita Bhattacharjee, Derek Francis in Bengaluru; Writing by Euan Rocha and Nivedita Bhattacharjee; Editing by Sherry Jacob-Phillips and Keith Weir)