By Supantha Mukherjee STOCKHOLM (Reuters) -Music streaming giant Spotify said on Monday that it will lay off around 1,500 employees, or 17% of its headcount, to bring down costs, after letting 600 of its staff go in January, and 200 more in June. After a round of job cuts at the start of the year …
Spotify to cut 1,500 employees in third layoff round this year Read More »
STOCKHOLM (Reuters) – Swedish monetary policy needs to remain tight for some time and the policy rate may need to be raised further if the inflation outlook deteriorates, the minutes of the central bank’s most recent meeting, published on Monday, showed. Late last month, the central bank kept its key policy rate unchanged at 4.00%, …
Sweden’s Riksbank says policy must remain tight, can’t rule out hike – minutes Read More »
ZURICH (Reuters) – Swiss Life chief executive Patrick Frost will step down in May 2024, Switzerland’s biggest life insurer said on Monday. Frost, who has held the CEO role for ten years, will be replaced by Swiss Life’s current finance chief Matthias Aellig, effective May 16, the company said in a statement. The company’s shares …
COPENHAGEN (Reuters) – Volvo Cars’ sales grew 8% in November from a year earlier to 63,682 cars, the Sweden-based group said on Monday. Volvo Cars, which is majority-owned by China’s Geely, said in a statement that its fully electric and hybrid cars in November made up more than 50% of all cars sold in Europe, …
(Reuters) – European shares fell on Monday after strong gains last week driven by escalating bets of interest rate cuts, as miners and energy stocks declined tracking weak commodity prices. The pan-European STOXX 600 was down 0.1% by 0810 GMT, after touching a four-month high on Friday and posting its third straight weekly gain. Miners …
European shares edge lower as miners, energy stocks drag Read More »
(Reuters) -Petrofac said on Monday it was in discussions to sell some non-core assets and warned it would no longer be able to meet its annual forecast of “broadly neutral free cash flow”, dragging the oilfield services provider’s shares down nearly 8%. The London-listed firm blamed delays in collecting advance payments on the new contracts …
Oilfield services firm Petrofac mulls asset sale; warns on cash flow Read More »
LONDON (Reuters) -Festive cheer has come early to world markets (bar those dollar bulls) on growing certainty that central banks will start slashing interest rates next year. For sure, key U.S. jobs data will test the exuberance, while Australia’s central bank could reinforce a view that rates have peaked. Here’s your week ahead in financial …
(Reuters) -Aspen Insurance is targeting its $4 billion initial public offering next year in New York instead of London partly due to management concerns about valuations and more stringent listing requirements in Britain, the Financial Times reported on Sunday. Bermuda-based Aspen, owned by private equity group Apollo, is being advised by Goldman Sachs, Citi and …
Insurer Aspen chooses New York over London for $4 billion IPO – FT Read More »
BELGRADE (Reuters) – Serbian President Aleksandar Vucic said on Sunday he expects automaker Stellantis to produce an electric Fiat Panda city car in the central town Kragujevac. Vucic who spoke after meeting Italian Prime Minister Giorgia Meloni did not give any specific date for the production launch. Vucic said that the production of electric Panda …
Serbia’s Vucic says electric Fiat Panda model to be produced in Serbia Read More »
(Reuters) – Swiss bank UBS plans to expand its presence in the U.S. market as part of its strategy to hit $150 billion in net new money, or inflow of new funds, per year, an executive told Swiss newspaper NZZ Am Sonntag in an interview published on Sunday. The fourth-largest asset manager in the United …
UBS to expand presence in U.S. market – Swiss paper Read More »
