(Reuters) – British luxury brand Burberry named Joshua Schulman as its new CEO on Monday after warning on profit and scrapping its dividend payment for this year. He will become Burberry’s fourth CEO in 10 years, replacing Jonathan Akeroyd who was axed after two years in the role. Schulman starts his new job on Wednesday, …
Factbox-Who is Burberry’s new CEO and luxury veteran Joshua Schulman? Read More »
(Reuters) – British luxury brand Burberry named Joshua Schulman as its new CEO on Monday after warning on profit and scrapping its dividend payment for this year. He will become Burberry’s fourth CEO in 10 years, replacing Jonathan Akeroyd who was axed after two years in the role. Schulman starts his new job on Wednesday, …
Factbox-Who is Burberry’s new CEO and luxury veteran Joshua Schulman? Read More »
By Anna Tong and Katie Paul -ChatGPT maker OpenAI is working on a novel approach to its artificial intelligence models in a project code-named “Strawberry,” according to a person familiar with the matter and internal documentation reviewed by Reuters. The project, details of which have not been previously reported, comes as the Microsoft-backed startup races …
OpenAI working on new reasoning technology under code name ‘Strawberry’ Read More »
ZURICH (Reuters) – Preliminary findings in an eagerly awaited parliamentary report into the 2023 collapse of Credit Suisse have identified serious failings by Swiss regulatory authorities leading up the bank’s demise, a Swiss newspaper reported on Sunday. Citing sources inside the parliamentary committee drawing up the so-called PUK report, SonntagsZeitung said financial market …
Swiss authorities draw flak in Credit Suisse probe, report says Read More »
By Chandni Shah and Devika Madhusudhanan Nair (Reuters) -Boeing has started certification flight testing of its long-delayed 777-9 with U.S. aviation regulators onboard, the U.S. planemaker said in an emailed statement. The company said it conducted its first flight on Friday night after receiving Type Inspection Authorization (TIA). The development is a boost for Boeing, …
Boeing begins 777-9 certification flight trials with US FAA Read More »
MOSCOW (Reuters) – The Russian government on Saturday lowered a mandatory foreign currency sales requirement on major exporters from 60% to 40%, it said in a statement published on the Telegram messaging app. “The decision was made taking into account the stabilisation of the national currency exchange rate and the achievement of a sufficient level …
Russia lowers mandatory FX sales for exporters from 60% to 40% Read More »
WARSAW (Reuters) – Poland will spend 5% of gross domestic product (GDP) on defence in 2025, the foreign minister told Bloomberg Television in an interview broadcast on Friday evening. Warsaw has already ramped up defence spending to more than 4% of its economic output this year in response to Russia’s invasion of Ukraine. “Poland spends …
Poland to spend 5% of GDP on defence in 2025, says foreign minister Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Elon Musk’s social media company X breached European Union online content rules and its blue checkmark deceives users, EU tech regulators ruled on Friday in a finding that could lead to a hefty fine and significant changes in how it operates. The charges by the European Commission, the first …
EU charges X with deceiving users via blue checkmark, draws Musk’s ire Read More »
By Tatiana Bautzer and Manya Saini (Reuters) -Citigroup beat Wall Street expectations for second-quarter profit on Friday, boosted by a jump in investment banking, markets and services revenue, but shares fell 2% amid investor worries about expenses, dividends and market share. The third largest U.S. lender reported a profit of $1.52 per share in the …
Citi profit beats on surge in investment banking, services strength Read More »
By Roushni Nair (Reuters) -Mining giant BHP said on Friday it had reached a deal with Brazilian peer Vale to split equally the cost of any damages related to proceedings in Britain over a 2015 dam collapse in Brazil that killed 19 people, while denying liability for related claims. BHP Group (UK) Ltd and its …
BHP, Vale agree deal over 2015 Brazil dam collapse proceedings in UK Read More »
