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Exclusive-Microsoft to separate Teams and Office globally amid antitrust scrutiny

1 Apr 2024

By Foo Yun Chee BRUSSELS (Reuters) -Microsoft will sell its chat and video app Teams separately from its Office product globally, the U.S. tech giant said on Monday, six months after it unbundled the two products in Europe in a bid to avert a possible EU antitrust fine. The European Commission has been investigating Microsoft’s …

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Citi to lay off 430 employees in New York across units

1 Apr 2024

(Reuters) -Citigroup will lay off 430 employees across different divisions in New York, the bank disclosed in filings with the State Department of Labor on Monday. The layoffs will impact 363 employees of the lender’s primary banking unit, Citibank. Workers in the technology and broker-dealer arm will also be affected, the filings showed. The bank …

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Would-be Tesla buyers snub company as Musk’s reputation dips

1 Apr 2024

By Hyunjoo Jin and Nick Carey SAN FRANCISCO/LONDON (Reuters) – The ranks of would-be Tesla buyers in the United States are shrinking, according to a survey by market intelligence firm Caliber, which attributed the drop in part to CEO Elon Musk’s polarizing persona. While Tesla continued to post strong sales growth last year, helped by …

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SNB study tallies cost of intervention to curb franc gains

1 Apr 2024

ZURICH (Reuters) – The Swiss National Bank (SNB) has to spend billions of dollars on foreign exchange to keep the Swiss franc from appreciating, according to a new working paper published by the central bank. Entitled “FX interventions as a form of unconventional monetary policy”, the paper states that “(foreign exchange interventions) of approximately 27 …

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Swisscom antitrust conditions would lead to more roadworks, executive says

1 Apr 2024

ZURICH (Reuters) – Swisscom would have to dig up 3,200 km (2,000 miles) of roads to comply with antitrust measures imposed on its fibre-optic cable network expansion, a senior executive at the telecom provider was quoted as saying on Sunday. In late 2020, the Swiss Competition Commission (WEKO) opened an investigation into Swisscom’s fibre-optic expansion …

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SoftwareOne says its board plan backed by ISS amid power struggle

1 Apr 2024

ZURICH (Reuters) – The board of Swiss IT services provider SoftwareOne said on Monday its plan to resolve a boardroom tussle with founding shareholders over the company’s future has won the backing of proxy advisory firm Institutional Shareholder Services (ISS). Daniel von Stockar, Rene Gilli and B. Curti Holding AG, SoftwareOne’s three founding shareholders, are …

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Russian manufacturing sees fastest growth in nearly 18 years in March, PMI shows

1 Apr 2024

MOSCOW (Reuters) – Activity in Russia’s manufacturing sector expanded at the fastest rate in nearly 18 years in March, a business survey showed on Monday, as new export business grew for the first time in five months. The S&P Global Purchasing Managers’ Index (PMI) for Russian manufacturing rose to 55.7 in March from 54.7 in …

Russian manufacturing sees fastest growth in nearly 18 years in March, PMI shows Read More »

Greek cenbanker says ECB rate cuts of a total of 100 points possible this year

31 Mar 2024

ATHENS (Reuters) – The European Central Bank could possibly cut rates by a total of 100 basis points this year but there was still no consensus within euro zone’s central bank on that, ECB’s policymaker Yannis Stournaras said in a newspaper interview released on Sunday. “Personally, I believe that cutting rates four times this year, …

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Russia’s Nornickel: Some EU clients refuse to buy products made of Russian metal

30 Mar 2024

(This March 29 story has been refiled to say products, not produce, in the headline and paragraph 1) MOSCOW (Reuters) – Russia’s Nornickel, the world’s largest palladium producer and a major producer of high-grade nickel, said on Friday that some clients in the European Union had refused to buy products made with Russian metals. Although …

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Maltese flag carrier Air Malta folds, to be replaced by new airline

30 Mar 2024

VALLETTA (Reuters) – Air Malta was set to cease operations on Saturday to make way for another government-owned airline after European Union regulators blocked another public bailout for the national flag carrier, the airline and the Maltese government said. Air Malta will fold 50 years after its first flight. It is set to be succeeded …

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