ZURICH (Reuters) -UBS has put a real estate fund of its former competitor Credit Suisse worth over $2 billion into an “orderly liquidation” as of Thursday, the Swiss bank said. The Credit Suisse Real Estate Fund International’s total net assets were worth 1.88 billion Swiss francs ($2.17 billion) as of the end of June, UBS …
UBS puts $2 billion Credit Suisse real estate fund into liquidation Read More »
By Jesus Calero and Tilla Sjaavaag (Reuters) – Swedish games developer Embracer reported a 50% drop in first quarter operating profit on Thursday after the owner of the Tomb Raider franchise released fewer games. The company said it still expects to release games with a value of 3.9 billion Swedish crowns ($372.70 million) for the …
Tomb Raider owner Embracer’s quarterly profit plunges on fewer games releases Read More »
OSLO (Reuters) – Norwegian oil and gas investments are expected to hit a record this year and stay at elevated levels in 2025, driven by ongoing field developments and rising inflation, a national statistics office (SSB) survey showed on Thursday. Norway in recent years sanctioned a string of new field developments as companies took advantage …
Norwegian oil investments to hit record high as inflation drives up costs Read More »
By Carolyn Cohn LONDON (Reuters) -Shares in Admiral soared 11% on Thursday after the British motor and home insurer posted forecast-beating profit for the first half of the year, led by a strong UK motor performance, and said it would pay a special dividend. Motor and home insurance premiums have risen sharply in the past …
Admiral shares surge on forecast-beating profit, special dividend Read More »
COPENHAGEN (Reuters) – Danish shipping group Maersk has agreed to join a study by maritime services firm Lloyd’s Register (LR) and UK-based Core Power, that will assess the potential for nuclear-powered container shipping in Europe, LR said on Thursday. The maritime industry has been exploring whether nuclear fuel can be used to power commercial ships …
Maersk agrees to study nuclear-powered container shipping Read More »
By Alexandra Alper and Eric Beech WASHINGTON (Reuters) -A powerful U.S. committee that scrutinizes foreign investment for national security risks fined T-Mobile $60 million, its largest penalty ever, for failing to prevent and report breaches of sensitive data, senior U.S. officials said on Wednesday. The penalty imposed by the Committee on Foreign Investment in the …
US agency fines T-Mobile $60 million over data breaches Read More »
(Reuters) -Cisco Systems forecast better-than-expected first-quarter revenue on Wednesday and said it was cutting 7% of its global workforce as it shifts focus to high-growth areas, sending its shares up 5% in extended trading. The San Jose, California-based company estimates it will recognize pre-tax charges of up to $1 billion in connection with the plan, …
Cisco to cut 7% of jobs globally, forecasts better-than-expected quarterly revenue Read More »
(Reuters) – Starbucks said on Wednesday incoming boss Brian Niccol would get a base salary of $1.6 million after the coffee giant poached the former Chipotle Mexican Grill head to turn around its struggling business. (Reporting by Granth Vanaik in Bengaluru; Editing by Sriraj Kalluvila and Anil D’Silva)
HOUSTON (Reuters) -Oil and gas producer BP Plc told federal regulators on Wednesday that it has reviewed confidential commissioning documents and does not believe Venture Global LNG needs more time to begin commercial production. Venture Global LNG’s Calcasieu Pass plant has been at the center of a long-running dispute involving energy companies including BP and …
BP tells regulators Venture Global does not need more time to start production Read More »
(Reuters) -Barclays drew up plans to pull out of future Israeli government bond auctions as it reviewed its exposure to the country under pressure from pro-Palestinian activists, the Financial Times reported on Wednesday, citing people familiar with the matter. Barclays informed Israeli officials that it planned to continue to work as a so-called primary dealer, …
