Reuters UK Business

By Jonathan Stempel NEW YORK (Reuters) – JPMorgan Chase on Friday asked a U.S. judge in Manhattan to dismiss its lawsuit against Russia’s VTB Bank over a $439.5 million account frozen after Russia invaded Ukraine, saying VTB “coerced” it into requesting the dismissal. The largest U.S. bank had sued VTB in April, after the Russian …

‘Coerced’ JPMorgan Chase seeks to end NY lawsuit against Russia’s VTB Bank Read More »

By Nora Eckert DETROIT (Reuters) – Chrysler-parent Stellantis is laying off as many as 2,450 factory workers from its Warren Truck assembly plant outside of Detroit as the automaker ends production of the Ram 1500 Classic truck. The layoffs will be effective as early as Oct. 8, the company said, as the plant moves from …

Stellantis to lay off up to 2,450 factory workers as classic Ram production ends Read More »

By Libby George and Rodrigo Campos LONDON/NEW YORK (Reuters) -Ukraine on Friday kicked off the formal creditor approval process of its offer to restructure some $20 billion of international bonds, a key step in the war-torn country’s debt rework. Holders of its international bonds have until Aug. 27 to agree to the proposal, which was …

Ukraine seeks bondholder approval for wartime debt restructuring Read More »

By Saqib Iqbal Ahmed NEW YORK (Reuters) -Leveraged funds’ position on the Japanese yen shrank to the smallest net short stance since February 2023 in the latest week, U.S. Commodity Futures Trading Commission and LSEG data released on Friday showed. The net position for leveraged funds – typically hedge funds and various types of money …

Leveraged funds’ yen net short position shrinks on carry trade unwind Read More »

MOSCOW (Reuters) -Russia’s state communications watchdog Roskomnadzor said that Signal, an encrypted messaging app, had been blocked in the country for violating laws linked to anti-terrorist operations, Interfax news agency reported on Friday. “Access to the Signal messaging app is blocked in connection with violation of the requirements of Russian legislation which must be complied …

Signal messenger blocked in Russia, says Roskomnadzor -Ifax Read More »

By Christoph Steitz and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) -Thyssenkrupp’s steel division requires around 1.3 billion euros ($1.4 billion) in additional funds beyond what its parent is prepared to pay in a planned separation process, the division’s supervisory board chairman said on Friday. Sigmar Gabriel, who spoke after a supervisory board meeting of Thyssenkrupp Steel Europe …

Thyssenkrupp Steel sees $1.4 billion funding gap in planned divorce from parent Read More »

By Carolyn Cohn, Alexander Hübner and Noor Zainab Hussain LONDON (Reuters) – Insurers face millions of dollars in claims after a foiled attack forced three Taylor Swift concerts in Austria to be cancelled, though several providers will share out the hit, two people involved in insurance for her tour told Reuters. The concerts in Vienna …

Taylor Swift cancellations deal blow to insurers, sources say Read More »