By Jonathan Stempel NEW YORK (Reuters) – A federal appeals court on Tuesday said a Citigroup vice president was not entitled to a share of a $400 million civil fine that the bank agreed to pay in October 2020 over its risk management failures. The 2nd U.S. Circuit Court of Appeals in Manhattan said Tamika …
Citigroup whistleblower denied share of $400 million penalty Read More »
By Alexandra Schwarz-Goerlich VIENNA (Reuters) -Austria’s ruling coalition of conservatives and Greens has nominated Economy Minister Martin Kocher to take over as governor of the Austrian National Bank next year, the government said on Tuesday. Kocher will succeed Robert Holzmann when his six-year term as governor expires on Sept. 1 next year. That will put …
Austria taps economy minister Kocher to head central bank Read More »
By Yuvraj Malik (Reuters) -Uber’s second-quarter results beat Wall Street estimates on the back of steady demand for its ride-sharing and food-delivery services, sending the company’s shares up 5% on Tuesday. With more people returning to offices and stepping out of their homes, ride-sharing demand has got a boost in the past several months, benefiting …
Uber’s second-quarter results beat on ride-sharing demand Read More »
By Rajesh Kumar Singh CHICAGO (Reuters) -Microsoft blamed Delta Air Lines on Tuesday for its dayslong struggle to recover from a global cyber outage that led it to cancel more than 6,000 flights. A software update last month by global cybersecurity firm CrowdStrike triggered system problems for Microsoft customers, including many airlines. But disruptions subsided …
Microsoft blames Delta for its struggle to recover from global cyber outage Read More »
FRANKFURT (Reuters) – German drugstore chain Rossmann said on Tuesday it would no longer buy Tesla cars for its corporate fleet due to CEO Elon Musk’s support for U.S. Republican presidential candidate Donald Trump. The drugstore chain, which is among the largest in Europe, said its decision was with immediate effect and due to what …
German drugstore chain shuns Teslas over Musk’s support for Trump Read More »
By Helen Reid and Mimosa Spencer PARIS (Reuters) – LVMH’s second-largest fashion brand Dior was until last month behind on disclosures required by UK law about working conditions in its supply chain, and made outdated statements on its website of a third-party certification that it terminated more than a year ago, Reuters has found. In …
Exclusive-LVMH’s Dior lagged on supply chain disclosure, made outdated ESG claim Read More »
MILAN (Reuters) – State-owned Italian bank Monte dei Paschi di Siena raised its profit outlook on Tuesday after posting much higher- -than-expected second quarter earnings, helped by tax credits. MPS, which Italy saved from collapse in 2017, said it expected its pre-tax profit to total 1.4 billion euros ($1.5 billion) in 2026. That is up …
MPS upgrades outlook after quarterly profit soars above forecast Read More »
By Pranav Kashyap (Reuters) – European shares inched higher on Tuesday after hitting six-month lows in the previous session, resonating with a recovery across global markets and buoyed in part by corporate earnings updates. The STOXX 600 was up 0.4% by 0838 GMT, after logging its steepest three-day decline since June 2022 and closing below …
Europe’s STOXX 600 gains on global recovery, earnings boost Read More »
By Aby Jose Koilparambil (Reuters) -Building materials supplier Travis Perkins cut its annual profit guidance while smaller industry peer SIG’s half year profit slumped 64%, hurt by weak pricing and a decline in volumes. Companies linked to the housing sector have been under pressure for more than a year as Britons delay home-improvement projects while …
UK building materials firms Travis Perkins, SIG hurt by weak pricing Read More »
By Linda Pasquini (Reuters) -Online fashion marketplace Zalando exceeded analyst estimates for quarterly profit on Tuesday thanks to growth in its sports, beauty and designer categories and improved inventories, sending shares up as much as 7% in morning trading. Zalando has focused on higher-priced brands and sportswear as it competes with low-priced retailers such as …
Zalando’s profit boosted by sports, beauty, better inventories Read More »
