By Libby George LONDON (Reuters) – Saudi Arabia’s Public Investment Fund accounted for about a quarter of the almost $124 billion spent by sovereign wealth funds worldwide last year, a report published on Jan. 1 showed. PIF’s whopping $31.5 billion spend in 2023 compared with $123.8 billion for all sovereign wealth funds, based on a …
Saudi sovereign wealth fund splashes cash in 2023 – report shows Read More »
BERLIN (Reuters) – The operator of Berlin Airport expects passenger numbers to increase by 8% next year as it continues its post-pandemic recovery, the chief executive says. The airport in the German capital launched in Oct. 31, 2020, after a years-long delay and at the height of the COVID-19 pandemic, when collapsing demand was wreaking …
Berlin airport expects more passengers in 2024 but recovery ‘delayed’ – CEO Read More »
(Corrects paragraph 4 to show that Nokia does not expect negotiations to conclude before year-end) By Mrinmay Dey (Reuters) -Finnish telecom gear group Nokia on Saturday said it would not meet its financial targets for the year, as it cannot recognize revenue it would make from license renewal discussions that are expected to continue well …
Nokia expects it will not meet full-year financial targets Read More »
ZURICH (Reuters) – Switzerland’s financial regulator wants to discuss the ability to claw back bonuses from bankers as part of stronger powers following the fall of Credit Suisse and sale to UBS. “The question is on the table and must be discussed now,” FINMA Chairwoman Marlene Amstad told newspaper Schweiz am Wochenende, when asked about …
Swiss financial watchdog wants to examine clawing back bankers’ bonuses Read More »
(Reuters) – Swiss drugmaker Roche said on Friday it has agreed to buy LumiraDx’s Point of Care diagnostics platform business for about $295 million. Shares of LumiraDx rose about 20%, to 76 cents in aftermarket trading. The transaction is expected to close by mid-2024, after which the acquired segment will become a part of Roche’s …
Roche to buy part of LumiraDx diagnostics platform for $295 million Read More »
By Saqib Iqbal Ahmed NEW YORK (Reuters) -The Federal Reserve’s dovish December pivot has boosted the case for the weakening dollar to keep falling into 2024, though strength in the U.S. economy could limit the greenback’s decline. After soaring to a two-decade high on the back of the Fed’s rate hikes in 2022, the U.S. …
King dollar seen vulnerable in 2024 if Fed pivots Read More »
FRANKFURT (Reuters) – Accountancy firm EY is facing a new lawsuit claiming 1.5 billion euros ($1.66 billion) in damages over its role in auditing Wirecard’s books before the German payments company collapsed in 2020. The suit was filed by Wirecard’s insolvency manager Michael Jaffe in a court in Stuttgart, a court spokesperson said on Friday. …
Wirecard lawsuit against EY claims 1.5 billion euros in damages Read More »
ROME (Reuters) – The Italian Chamber of Deputies on Friday passed the government’s tax-cutting 2024 budget, giving parliament’s final approval to the package which becomes law just ahead of an end-year deadline. Prime Minister Giorgia Meloni’s second budget drives up next year’s fiscal deficit to 4.3% of gross domestic product (GDP) from 3.6% forecast in …
Italian parliament gives final approval to government’s 2024 budget Read More »
By Shashwat Chauhan and Bansari Mayur Kamdar (Reuters) -European shares ended 2023 with an annual gain of almost 13% on hopes of softer monetary policy from major central banks next year. The pan-European STOXX 600 edged up 0.1% on Friday, posting its seventh straight weekly gain and its best December performance since 2021. It closed …
STOXX 600 ends 2023 up 12.6% on rate cut optimism, Italy best performer Read More »
MOSCOW (Reuters) – Russia’s economy contracted by 1.2% last year, less than the 2.1% decline previously estimated, the state statistics service Rosstat said on Friday. Western countries imposed sweeping economic sanctions on Russia following President Vladimir Putin’s decision to send tens of thousands of troops into Ukraine on Feb. 24, 2022. “The changes in the …
Russian economy shrank by 1.2% in 2022, less than previously thought – stats service Read More »
