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Jersey Mike’s names Betsy Mercado as first chief people officer
Manasquan, NJ – Jersey Mike’s Subs has appointed Betsy Mercado as the company’s first-ever Chief People Officer, a newly created role aimed at guiding the brand’s people strategy as it accelerates nationwide…
EU airline passenger data law gets thumbs-up from EU court adviser
By Foo Yun Chee BRUSSELS – An EU law on gathering airline passenger information conforms with the bloc’s rights and data protection laws, but such data should only be retained if it…
Crypto firm Fireblocks raises $550 million, company valued at $8 billion
By Gertrude Chavez-Dreyfuss NEW YORK – Fireblocks, a digital asset infrastructure provider, said on Thursday it raised $550 million from institutional investors, making it one of the largest financing rounds in the…
EU watchdog seeks more influence over margin calls at clearing houses
By Huw Jones LONDON – The European Union’s securities watchdog proposed changes on Thursday to the bloc’s rules for clearing houses, saying more harmonisation was needed to avoid the sector amplifying market…
Crypto tax firm CoinTracker raises $100 million for expansion
By Gertrude Chavez-Dreyfuss NEW YORK – CoinTracker, which tracks consumers’ cryptocurrency taxes and portfolios, said on Thursday it has raised $100 million in funding from a slew of institutional investors and high-net-worth individuals.…
UBS steps into ‘Gen Z’ push with $1.4 billion Wealthfront buy
By Michael Shields and Brenna Hughes Neghaiwi ZURICH – UBS has agreed to buy California-based digital wealth management start-up Wealthfront in a $1.4 billion all-cash deal, as the Swiss bank targets younger…
Analysis-Robinhood shares stumble as trading frenzy wanes, regulators circle
By Hannah Lang – Robinhood Markets Inc became a household name ahead of its stellar IPO last year, when retail investors used its trading app to drive shares of GameStop and other…
Hainan Airlines expects to return to net profit for 2021
BEIJING – Hainan Airlines expects to return to net profit for last year following restructuring and a pickup in domestic travel, the carrier said on Thursday. The airline expects to report a…
Factbox-How the SEC is cracking down on the equity market after GameStop saga
By John McCrank and Katanga Johnson WASHINGTON – A year after the “meme stock” rally humbled hedge funds and roiled Wall Street, the U.S. Securities and Exchange Commission (SEC) is cracking down…
Goodbye, Mr. Gradual, Hello Mr. Nimble: Fed Chair Powell tears up rate-hike script
By Ann Saphir and Lindsay Dunsmuir -The watchword the last time Federal Reserve Chair Jerome Powell oversaw a rate-hiking cycle was “gradual.” This time will be different. “We are going to need…
Tata group takes control of Air India
By Aditi Shah NEW DELHI – India’s Tata Group took control of state-run carrier Air India on Thursday, finalising a $2.4 billion deal to regain ownership of the airline after nearly 70…
STMicro to double investments to meet high chip demand
By Mathieu Rosemain PARIS -French-Italian chipmaker STMicroelectronics plans to double its investments this year to up to $3.6 billion, buoyed by high demand that drove its earnings to beat expectations in the…
Private sector hiring drives Spanish unemployment to pre-financial crisis levels
MADRID -Spanish unemployment fell in the fourth quarter to its lowest since the onset of the financial crisis of 2008, data showed on Thursday, as hiring in the farming and service sectors…
Hong Kong Exchange Fund’s 2021 investment income falls 27.7% y/y – HKMA
HONG KONG -Hong Kong’s Exchange Fund, which is used to back the Hong Kong dollar, posted investment income of HK$170.5 billion ($21.9 billion) in 2021, the Hong Kong Monetary Authority said on…
Analysis-Debt fears overshadow China’s infrastructure push to fight economic slowdown
By Kevin Yao BEIJING – China is counting on revived infrastructure spending to support its slowing economy, but controls over local government debt risks and falling investment returns could hamper the renewed…
EU challenges China at WTO over trade curbs on Lithuania
BRUSSELS -The European Union launched a challenge at the World Trade Organization on Thursday accusing China of discriminatory trade practices against Lithuania that it says threaten the integrity of the EU’s single…
Norway wealth fund earns second-highest return in 2021
By Victoria Klesty OSLO -Norway’s sovereign wealth fund, the world’s largest, earned a return on investment of 1.58 trillion Norwegian crowns ($177 billion) last year, the second highest on record, with the…
easyJet expects summer take-off after short-term Omicron hit
By Paul Sandle LONDON -Britain’s easyJet said the easing of travel restrictions had spurred demand for summer beach destinations such as Greece, Turkey and Spain, giving the airline cause for optimism after…
SAP to buy U.S. fintech Taulia; eyes metaverse opportunities
By Supantha Mukherjee and Nadine Schimroszik STOCKHOLM/BERLIN -SAP said on Thursday it has agreed to buy a majority stake in privately held U.S. fintech firm Taulia as the German business software group…
Spain’s Sabadell expects to hit profitability target a year early
By Jesús Aguado MADRID -Spain’s Banco Sabadell expects to hit its 6% profitability target a year early, it said on Thursday after posting better than forecast quarterly and annual profit on the…
Taiwan GDP storms to decade high in 2021 on strong exports
By Jeanny Kao and Meg Shen TAIPEI -Taiwan’s economy grew last year at its fastest pace in more than a decade, driven by strong tech exports during the COVID-19 pandemic to support…
Stock selloff is far from forcing the Fed to blink
By David Randall and Tommy Wilkes NEW YORK/LONDON -Those clinging to a decade-old belief that the Fed will mount a rescue of tanking stock markets with a last-minute pushback on the timing…
China property shares slump as planned U.S. rate hike adds to woes
By Clare Jim HONG KONG -China Evergrande Group shares slumped on Thursday after the developer’s thinly detailed roadmap for restructuring left investors dissatisfied and its indebted peers also fell on concerns higher…
Diageo sales jump on premium spirits and bar restocking
By Richa Naidu LONDON -Drinks group Diageo on Thursday reported first-half sales up nearly 16%, buoyed by high-end spirits for home use while bars increased orders as they reopened after coronavirus lockdowns.…
LG Energy Solution becomes S.Korea’s No.2 firm in stellar stock debut
By Heekyong Yang and Jihoon Lee SEOUL -LG Energy Solution Ltd (LGES) on Thursday saw its stock price soar 68% on its trading debut following a record IPO, catapulting the electric vehicle…
Now or never? European banks eye comeback against Wall Street
By Lawrence White and Iain Withers LONDON – Replenished firepower and higher interest rates will give Europe’s banks an ideal opportunity this year to reverse recent underperformance and claw back market share…
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