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Teva hit with $503 million EU antitrust fine for disparaging rival product

31 Oct 2024

By Sudip Kar-Gupta BRUSSELS (Reuters) -Teva, the world’s largest generic drugmaker, was hit on Thursday with a 462.6 million euro ($503 million) EU antitrust fine for abusing its dominant position to delay competition to its blockbuster multiple sclerosis medicine Copaxone. Teva said it planned to appeal against the judgment. The European Commission said it had …

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Ford’s head of integrated services leaves automaker to join Peloton

31 Oct 2024

By Nora Eckert (Reuters) – The head of Ford Motor’s integrated services, who was tasked with leading one of the automaker’s most important teams, is departing after about one year, the company said on Thursday. Peter Stern, who joined Ford in August 2023 from Apple, was trusted with building the automaker’s recurring revenues attached to …

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BBVA submits remedies as seeks to ease Sabadell competition concerns

31 Oct 2024

By Jesús Aguado MADRID (Reuters) – BBVA has submitted possible remedies to competition authorities in order to ease concerns and avoid a longer review of its proposed 12 billion euro ($13 billion) takeover of Sabadell, the Spanish bank’s CEO said on Thursday. BBVA, which reported results on Thursday, made a bid for Sabadell in April …

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Hungary plans inflation-linked rises in some taxes from 2025

31 Oct 2024

BUDAPEST (Reuters) – Hungary has proposed to increase some taxes in line with the July headline inflation rate from 2025, part of wider efforts by Prime Minister Viktor Orban’s government to plug budget holes as the economy dips back into recession. Hungary’s central bank, which was forced to pause interest rate cuts last week amid …

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Roblox lifts annual bookings forecast as in-game spending booms; shares jump

31 Oct 2024

By Zaheer Kachwala (Reuters) -Videogame platform Roblox raised its forecast for full-year 2024 bookings on Thursday, as it continues to benefit from robust spending within its virtual worlds, sending its shares up over 17%. Roblox’s free-to-play model has been attracting significant consumer spending on its platform despite a wider slowdown in gaming activity. The company, …

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Norwegian Cruise lifts profit forecast again after record ticket sales

31 Oct 2024

By Doyinsola Oladipo and Savyata Mishra (Reuters) -Norwegian Cruise Line Holdings joined rival Royal Caribbean in raising its annual profit forecast for a fourth time on Thursday, encouraged by record quarterly revenue and advance ticket sales for 2025. Cruise operators marked robust onboard purchases and resilient demand for their vacation experiences this quarter as consumer …

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TotalEnergies CEO says up to $2 billion stuck in Russia

31 Oct 2024

By America Hernandez PARIS (Reuters) – French oil major TotalEnergies has between $1.5 billion and $2 billion in annual dividends from its stakes in Russian gas producer Novatek and the Yamal LNG project stuck in Russia, CEO Patrick Pouyanne told analysts on Thursday. Pouyanne said that while in the early days of Russia’s full-scale invasion …

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Systemically important banks have enough capital, UBS chairman says

31 Oct 2024

ZURICH (Reuters) – Banks regarded as too big to fail are sufficiently capitalized, UBS Chairman Colm Kelleher said on Thursday, as his bank seeks to avoid regulations currently taking shape in Switzerland that could hurt business. “My personal opinion – and I would say this, wouldn’t I – is that since 2008, the too big …

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Google defeats UK trademark lawsuit over YouTube Shorts name

31 Oct 2024

LONDON (Reuters) – Google on Thursday defeated a trademark lawsuit brought by a British short film company over YouTube’s short video platform Shorts, with London’s High Court ruling there was no risk of confusion for consumers. Shorts International, which runs a television channel devoted to short films, sued the tech giant last year, accusing Google …

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