Reuters UK Business

By Tom Hals WILMINGTON, Del. (Reuters) – Tesla directors including Chair Robyn Denholm and James Murdoch got court approval on Wednesday for a settlement worth up to $919 million that requires they return compensation to the carmaker to resolve allegations they overpaid themselves. The settlement requires Tesla board members including Denholm and Murdoch to return …

Judge approves Tesla directors’ deal to end excess pay case Read More »

By Jonathan Stempel (Reuters) -Google failed to persuade a federal judge to dismiss a privacy class action claiming it collected personal data from people’s cellphones after they switched off a button to stop the tracking, paving the way for a possible August trial. Chief Judge Richard Seeborg of the federal court in San Francisco rejected …

Google must face mobile phone privacy class action, possible trial Read More »

By Carolyn Cohn and Simon Jessop LONDON (Reuters) -Lloyd’s of London CEO John Neal will leave in 2025 to join insurance broker Aon, the commercial insurance market said on Wednesday, as it faces pressure to speed up automation and improve conduct. Neal will become global CEO of Aon’s reinsurance business and global chairman of climate …

Lloyd’s of London CEO John Neal to leave in 2025 Read More »

LONDON (Reuters) – Britain’s finance ministry on Wednesday said its commitment to the government’s fiscal rules was non-negotiable, in a statement issued on a day of market turmoil for sterling and British bonds. Rising borrowing costs add to the challenges facing finance minister Rachel Reeves who is planning to sell hundreds of billions of pounds’ …

UK finance ministry says fiscal rules are non-negotiable Read More »

By Sergio Goncalves LISBON (Reuters) – Novo Banco’s business won’t be affected by the alleged misconduct that led it to dismiss its chief risk officer and the Portuguese bank remains focused on pursuing its strategy and delivering sustainable earnings, its CEO said. The bank fired chief risk officer Carlos Brandao on Tuesday, after reporting concerns …

Portugal’s Novo Banco says no business impact from probe into fired risk boss Read More »

By Valentina Za and Giulia Segreti MILAN (Reuters) -Italy’s Banca Ifis on Wednesday made a 298 million euro ($309 million) surprise offer in shares and cash for rival specialty lender illimity, to bulk up in a competitive market. The bid proposal steps up the pace of consolidation in Italian banking, and shows that unsolicited offers, …

Banca Ifis bids for illimity as Italy’s banking M&A heats up Read More »

BERLIN (Reuters) – Volkswagen’s management will take pay cuts adding up to over 300 million euros ($310.08 million) by 2030, according to comments by VW human resources board member Gunnar Kilian to local paper Braunschweiger Zeitung published on Wednesday. Volkswagen’s board would take a larger cut proportional to their salary than the rest of management …

VW managers to take combined 300-million-euro pay cut, reports local newspaper Read More »