By Daniel Wiessner (Reuters) – Twitter Inc is facing a lawsuit claiming it failed to pay workers millions of dollars in promised bonuses, adding to a pile of court cases filed since Elon Musk acquired the social media company. Mark Schobinger, who was Twitter’s senior director of compensation and left the company last month, filed …
Twitter has failed to pay millions in worker bonuses, lawsuit claims Read More »
By Simon Jessop LONDON (Reuters) – Payments company Mastercard on Wednesday launched a global project to recycle credit and debit cards as part of a plan to save the billions of cards in circulation across the industry from landfill. Initially partnering with British lender HSBC Holdings Plc in eight branches in Britain, Mastercard said banks …
Mastercard launches global plan to recycle credit cards Read More »
By Blake Brittain (Reuters) – Alphabet’s Google must pay patent holding company Personal Audio LLC $15.1 million for infringing two patents related to audio software, a Delaware federal jury said in a verdict made public on Wednesday. Personal Audio had argued that Google’s music app Google Play Music featured playlist downloading, navigation and editing features …
Google hit with $15 million verdict in US trial over audio patents Read More »
BEIJING (Reuters) – China’s state planner this week signed letters of intent in Berlin on cooperation with European corporate heavyweights in areas ranging from aviation and chemicals to automobiles, as the world’s second-largest economy seek to lobby for stronger ties with Europe. European companies including Airbus, BASF, Siemens, Mercedez-Benz, BMW and Volkswagen were among those …
China’s state planner signs letter of intent to cooperate with European corporate giants Read More »
MOSCOW (Reuters) – Russian carmaker Avtovaz has completed the acquisition of RN Bank, a joint venture between Italian lender UniCredit and the Renault-Nissan-Mitsubishi Alliance, the company said on Wednesday. President Vladimir Putin approved the deal in November, issuing a waiver for the sale to go through, bypassing a ban on some foreign-owned strategic asset sales. …
Avtovaz completes deal to buy Renault-Nissan’s Russian finance business Read More »
By Qiaoyi Li and Liz Lee BEIJING/SHANGHAI (Reuters) -China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package of tax breaks over four years for electric vehicles (EVs) and other green cars, its biggest yet for the industry as it seeks to boost slower auto sales growth. Weakening sales growth in the world’s biggest …
China unveils $72 billion tax break for EVs, other green cars to spur demand Read More »
By Giulio Piovaccari MILAN (Reuters) – Pirelli investor Brembo is worried about strains between the tyremaker’s Italian and Chinese shareholders and is likely to steer clear of any plan to build an Italian majority in the company, two sources told Reuters. Last week, the Italian government intervened in a shareholder governance agreement at Pirelli, using …
Italy’s Brembo wary of getting dragged into Pirelli’s China dispute Read More »
By Selena Li HONG KONG (Reuters) – JPMorgan Chase & Co has in a new round of downsizing cut around 20 investment banking jobs in Asia, a source with direct knowledge of the matter said, joining global peers in trimming headcount as dealmaking slows. JPMorgan on Tuesday notified the impacted bankers, the majority of whom …
JPMorgan cuts around 20 Asia investment banking jobs-source Read More »
By Gabriel Araujo SAO PAULO (Reuters) – Brazilian planemaker Embraer is returning to China with a deal to convert passenger jets into freight aircraft with a local partner in the northwestern city of Lanzhou, the company said on Wednesday. Anticipation of new business in China has been high since President Luiz Inacio Lula da Silva’s …
Brazil’s Embraer returns to China with deal for freight conversions Read More »
By Kevin Yao and Ziyi Tang BEIJING (Reuters) – China’s central bank is likely to cut lending rates further in a bid to revive the economy but reluctance among private firms and households to borrow means continued policy easing could end up hurting banks already battling margin pressures, analysts said. Small cuts in rates will …
Analysis-China to tread warily on easing as concerns over impact on banks mount Read More »
