By Stefania Spezzati LONDON (Reuters) – Norway’s sovereign wealth fund has backed UBS’ plan to make its Additional Tier 1 (AT1) bonds, a form of debt, more appealing to investors by protecting them from a wipeout, and also signed off on UBS CEO Sergio Ermotti’s pay package. The vote from the Norwegian fund, UBS’ second-largest …
UBS gets backing for capital plan, Ermotti pay from Norway wealth fund Read More »
By Abigail Summerville, Granth Vanaik and Jasper Ward (Reuters) -The U.S. Federal Trade Commission on Monday sued to block Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri, saying it would eliminate “direct head-to-head competition” between the flagship brands of the two luxury handbag makers. In a statement, the FTC said the …
US sues to block merger of Coach and Michael Kors handbag makers Read More »
By Marisa Taylor WASHINGTON (Reuters) – Injury rates at SpaceX facilities continued to exceed an industry average in 2023, according to a Reuters review of safety data reported to U.S. regulators by the space venture controlled by billionaire Elon Musk. The 2023 records, newly disclosed by the Occupational Safety and Health Administration, also show that …
Exclusive-Injury rates for Musk’s SpaceX exceed industry average for second year Read More »
MADRID (Reuters) -Spanish cava producer Freixenet has presented a plan to lay off temporarily 615 workers, nearly 80% of its workforce, due to a drought in the Penedes area of Catalonia, it said in a statement on Monday. The measure is expected to become effective in May, and the company did not specify how long …
Cava producer Freixenet plans to furlough 80% of workforce due to drought Read More »
ROME (Reuters) – Italy multi-year deficit projections are already broadly in line with new European Union budget rules which are set to kick in next year, the country’s economy minister said on Monday. “The [required] adjustment is fully within our reach,” Minister Giancarlo Giorgetti said, addressing parliament on Italy’s state finances. The latest reform of …
Italy can cope with new EU budget rules, economy minister says Read More »
ROME (Reuters) – Italy expects the European Central Bank (ECB) to start cutting interest rates from the second half of 2024, the country’s economy minister said on Monday. “The gradual easing of monetary policy, which is likely to take place starting in the second half of this year, would be a supportive factor, particularly in …
Italy expects ECB to start cutting rates in second half of year Read More »
MILAN (Reuters) – Italy’s Antitrust authority said on Monday it was looking into how the country’s biggest utility Enel had communicated recent material gas and power price increases to its domestic customers. The authority said that from January it had received complaints from more than 600 customers and small companies about rises in their energy …
Italy’s Antitrust probes Enel’s communication of energy price rises Read More »
By Pranav Kashyap, Shubham Batra and Khushi Singh (Reuters) -London stocks gained over 1% on Monday, as M&A action spurred on the FTSE 250 and markets were also cheered by interest rate futures indicating the Bank of England’s cuts would begin in August. The benchmark FTSE 100 rose 1.6% as of 1556 GMT, hovering near …
London shares climb over 1%, M&A action lifts midcap stocks Read More »
By David Milliken LONDON (Reuters) -Interest rate futures on Monday fully priced in a first quarter-point rate cut by the Bank of England for August and see at least two cuts before the end of the year, an earlier start to loosening than priced in last week. Rate futures at 1451 GMT showed 28 basis …
Investors see first Bank of England rate cut by August Read More »
By Kane Wu and Yantoultra Ngui HONG KONG/SINGAPORE (Reuters) -European investment company Permira has begun the process for the sale of its 50% stake in Asian aquatic food provider Grobest, targeting a valuation of about $1 billion for the Taiwan-based company, said three sources close to the matter. Permira, which manages about 80 billion euros …
Permira initiates sale of its 50% stake in Taiwan’s Grobest, sources say Read More »
