Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
U.S. shortens extension of GAZ Group licenses over tensions with Russia
WASHINGTON – The U.S. Treasury Department on Monday shortened the usual extension of two general licenses for Russian commercial vehicle manufacturer GAZ Group, a Treasury official told Reuters, as the United States…
UK’s Amigo says CFO Mike Corcoran to step down
-British subprime lender Amigo Holdings said on Monday Chief Financial Officer Mike Corcoran will step down immediately, on a day where its shares fell as much as 62% after the firm flagged…
Care home firm Orpea rejects allegations of resident mistreatment
– French care home operator Orpea on Monday rejected allegations of resident mistreatment in a forthcoming book after extracts published in newspaper Le Monde sent its shares tumbling. The article included extracts…
Poor nations pay highest debt service in 20 years -campaigners
JOHANNESBURG – Developing countries are paying more to service their debt than at any other time in the past two decades, with a heavier burden on the horizon if the United States…
Vicari meets with banking commissioner as banks close in senior populated Ocean County
TOMS RIVER, NJ – Ocean County senior citizens are concerned about the recent trend of banks closing local and small community branches. The county is home to one of the largest senior…
Mountain Mike’s Pizza opens new restaurant in Chowchilla
Chowchilla, CA – Mountain Mike’s Pizza, a leading California-based family-style pizza chain for more than 40 years, known for its legendary crispy, curly pepperonis, Mountain-sized pizzas, and dough made fresh daily, is excited…
Wokeness has marginalized the female M&M characters as candy gets progressive makeover
The female M&M characters have been dressed down and marginalized as Mars, Incorporated moves the beloved candy characters into a realm of wokeness that was unnecessary and quite frankly, nobody asked for.…
European corporate default insurance costs jump
– Credit default swap indexes measuring the cost of insuring against European corporate bond defaults jumped on Monday to the highest since early-December as stock markets slumped on the prospect of a…
Bank of England on track for second rate rise in under two months
By David Milliken LONDON – Britain’s central bank looks on course to raise interest rates next week for the second time in less than two months, reversing more of its COVID-19 pandemic…
German economy likely shrunk in Q4: Bundesbank
FRANKFURT – Germany’s economy likely shrank in the fourth quarter as manufacturing remained constrained by supply bottlenecks and consumption dropped on renewed coronavirus fears, the Bundesbank said in a monthly report on…
UK businesses suffer January chills as cost pressures rage: PMI
By Andy Bruce LONDON – British business activity cooled unexpectedly this month to an 11-month low but cost pressures stayed high, according to a survey that leaves the Bank of England on…
Brazil’s sliding stock market makes M&A targets
By Carolina Mandl and Tatiana Bautzer SAO PAULO – A frenzy of talks for mergers and acquisitions has caught some Brazilian bankers off-guard in the early weeks of 2022. With the economy…
Take Five: All about inflation
– Inflation is front and centre: Markets will look to the U.S. Federal Reserve for hints on when and how much it may tighten policy to combat inflation at 40-year highs, whether…
Funds see promise in battered Chinese real estate dollar bonds
By Samuel Shen and Andrew Galbraith SHANGHAI – Beaten-down dollar bonds issued by Chinese property developers are enticing domestic and global fund managers, some of whom are even planning to launch new…
Easing of supply shortages sustains German manufacturing recovery – PMI
BERLIN – Strong factory output growth helped by easing supply bottlenecks pushed activity in Germany’s manufacturing sector to a five-month high in January, a survey showed on Monday. IHS Markit’s flash Purchasing…
French business growth weakens by more than forecast in January – flash PMI
PARIS – French business growth dipped by more than forecast in January compared to December, according to initial estimates in a monthly survey, as the impact of COVID-19 and inflationary pressures weighed…
ECB’s Villeroy: ECB to do what is necessary to bring inflation around 2%
PARIS -The European Central Bank will do whatever is necessary to bring inflation down to around 2%, ECB member and Bank of France governor Francois Villeroy de Galhau said on Monday. “If…
UK education minister backs April tax hike
LONDON – Britain’s education minister Nadhim Zahawi said on Monday he still supported a tax hike due to come in from April, after a media report suggested that Prime Minister Boris Johnson’s…
France’s Le Maire: reiterates forecast of 4% GDP French growth in 2022
PARIS – French Finance Minister Bruno Le Maire told France Info radio on Monday that he was sticking to his forecast of French economic growth of 4% in 2022, despite the rapid…
Wendel to buy anti-money laundering company ACAMS for $500 million
PARIS – French investment company Wendel has agreed to buy ACAMS, a company which provides training and certifications for anti-money laundering and financial crime prevention, for around $500 million, the companies said…
Teneo launches financial advisory business in the Middle East
DUBAI – New York-based Teneo said on Monday it was launching a financial advisory business in the Middle East. The company, which already operates in the fields of strategic communications, management consulting…
Japan aims to release prelim ‘Green GDP’ estimates by end-March – economy minister
TOKYO – Japan is drafting an economic growth measure taking climate action into account and aims to release a preliminary estimate by the end of March, economy minister Daishiro Yamagiwa said on…
Gulf economies to grow faster in 2022, oil price fall biggest threat: Reuters poll
By Md Manzer Hussain BENGALURU – The economies in the six-member Gulf Cooperation Council will grow at their fastest paces in several years, according to a Reuters poll of economists who cautioned…
Temasek to buy Bridgepoint’s UK-based testing firm for $7 billion-sources
SINGAPORE – Singapore’s Temasek Holdings has agreed to buy Element Materials Technology for about $7 billion, as it sees an opportunity to boost growth at the testing and inspection services provider, two…
Goldman appoints Sarsfield to co-run asset management unit – Bloomberg News
-Goldman Sachs Group Inc has appointed Luke Sarsfield to co-head its $1.7 trillion asset-management business, Bloomberg News reported on Sunday. Goldman Chief Executive Officer David Solomon will likely announce Sarsfield’s promotion this…
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