FRANKFURT – Euro zone inflation will return to trend without significant policy tightening by the European Central Bank as pandemic-related bottlenecks in goods as well as labour are resolved, the …
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Credit Suisse sweetens deal for senior bankers with 800 million Sfr in upfront cash
by Reutersby ReutersBy Brenna Hughes Neghaiwi ZURICH – Credit Suisse’s bonus pool fell 32% in 2021, the bank said on Thursday, as the bank slashed regular deferred awards following a string of …
- Business News
India’s ShareChat buys rival MX’s short-video app in $700 million deal, sources say
by Reutersby ReutersBy Aditya Kalra and Aditi Shah NEW DELHI -The parent company of India’s ShareChat has acquired local rival MX’s short-video platform in a roughly $700 million deal, two sources told …
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Google faces fine after Russian watchdog says it broke antitrust law
by Reutersby ReutersMOSCOW -Google faces a fine after Russia’s antitrust watchdog said the U.S. tech firm had breached rules related to suspending and blocking accounts on its YouTube video service. Russia’s Federal …
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By Svea Herbst-Bayliss BOSTON -Activist investment firm Macellum Advisors GP LLC said on Thursday that it is seeking to take control of retailer Kohl’s Corp’s board and has nominated 10 …
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ALLENTOWN, PA – On Thursday, February 10th, 2022 @ approx. 0308 hrs. Allentown Police responded to the 700 block of N. 7th St. for a report of a stabbing. Upon …
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By Mathieu Rosemain PARIS – Google Analytics, the world’s most widely used web analytics service developed by Alphabet’s Google, risks giving U.S. intelligence services access to French website users’ data, …
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Inflation turns up heat on Unilever even as it backs down on M&A
by Reutersby ReutersBy Richa Naidu LONDON -Unilever warned of a hit to profitability this year as it struggles to lift prices enough to offset soaring costs, sparking fresh concern among investors after …
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Italy fashion group OTB posts 2021 revenue bounce back to pre-pandemic levels
by Reutersby ReutersMILAN – Italian fashion company OTB said on Thursday that last year’s 16% rise in revenue to pre-pandemic levels would boost its organic growth plans after the group bought German …
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Artichoke Basille’s Pizza is coming to Jersey City, here’s what to expect
Jersey City, NJ – In the heart of the pizza capital of the world along the Hudson River, a New York themed pizza franchise is trying to make it big somewhere …
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Credit Suisse flags weak 2022, ends torrid year with $2.2 billion quarterly loss
by Reutersby ReutersBy Brenna Hughes Neghaiwi ZURICH -Credit Suisse on Thursday capped a scandal-ridden year with a $2.2 billion quarterly loss and said 2022 earnings would be weighed down by restructuring and …
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Kate Spade owner Tapestry lifts annual forecast as luxury demand booms
by Reutersby Reuters-Tapestry Inc raised its full-year revenue and profit forecast on Thursday as consumers splurge on luxury handbags and apparel in the United States and Europe, boosting the Kate Spade owner’s …
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How a China-based dealmaker got shell company for Trump’s deal off the ground
by Reutersby ReutersBy Echo Wang and Michael Berens – A China-based financier, once reprimanded by U.S. regulators and barred from taking his company public, played a bigger role than is publicly known …
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EU exec cuts 2022 euro zone growth forecast, sharply raises inflation view
by Reutersby ReutersBy Jan Strupczewski BRUSSELS – Euro zone economic growth will be slower than earlier expected this year because of a new wave of COVID-19 infections, high energy prices and continued …
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– Coca-Cola Co reported quarterly revenue on Thursday that beat analysts’ estimates, helped by higher prices for its soft drinks and on gradual reopening of theaters and restaurants across the …
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Rogue employee or Goldman scapegoat? Ex-banker’s 1MDB corruption trial to kick off
by Reutersby ReutersBy Luc Cohen NEW YORK – A former Goldman Sachs banker charged with helping to embezzle hundreds of millions of dollars from Malaysia’s 1MDB sovereign wealth fund will go on …
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By Ron Bousso LONDON -Shell Chief Executive Officer Ben van Beurden on Feb. 7 sold 3.9 million pounds ($5.2 million) worth of the energy company’s shares, a company filing showed. …
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PARIS -Shares in the world’s largest cosmetics company L’Oreal dropped on Thursday as higher marketing spending put pressure on profitability, overshadowing forecast-beating sales and gains in market share. The company’s …
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Strong U.S., China demand makes Pernod Ricard more optimistic on sales outlook
by Reutersby ReutersBy Dominique Vidalon PARIS -Pernod Ricard is more optimistic about its outlook for fiscal year 2022 after strong demand in the United States, China and Europe helped the French spirits …
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By Victoria Klesty OSLO -DNB reported a 17% rise in fourth-quarter earnings on Thursday, in line with forecasts, as a relaxation of coronavirus restrictions boosted Norway’s largest bank. Net profit …
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Higher steel prices boost Thyssenkrupp amid supply chain strains
by Reutersby ReutersBy Christoph Steitz and Tom Käckenhoff FRANKFURT – Thyssenkrupp said on Thursday that operating profit rose nearly fivefold in its first quarter, as its two biggest divisions – steel and …
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AstraZeneca says COVID vaccine demand high in Latam, Middle East, Asia
by Reutersby ReutersFRANKFURT – Astrazeneca said global interest in government purchase agreements for its COVID-19 vaccine was driven by strong demand in Latin America, the Middle East and Asia, even as aggregate …
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ArcelorMittal raises dividend, announces new $1 billion capital return
by Reutersby ReutersBy Marine Strauss BRUSSELS – ArcelorMittal, the world’s second largest steelmaker, said on Thursday it would increase its dividend and announced a new $1 billion capital return for the first …
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India’s retail inflation likely reached RBI’s 6% upper limit in January: Reuters poll
by Reutersby ReutersBy Tushar Goenka BENGALURU – India’s retail inflation likely accelerated to 6.0% in January, the upper limit of the Reserve Bank of India’s tolerance band, driven by higher consumer goods …
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Upbeat Zurich Insurance lands highest profit since financial crisis
by Reutersby ReutersBy Carolyn Cohn and Paul Arnold LONDON -Zurich Insurance expects continued revenue and profit growth in the next two years, its chief financial officer said on Thursday, after the Swiss …