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(Reuters) – S&P Global is the first among the “big three” rating agencies to upgrade Greece to investment grade since the country’s debt crisis in 2010. It raised late on Friday the country’s local and foreign currency long-term issuer ratings to ‘BBB-/A-3’, with a stable outlook, citing stronger budgetary position. The other two agencies, Fitch …

S&P upgrades Greece to investment grade for first time since 2010 crisis Read More »

ZURICH (Reuters) -UBS on Friday said it will overhaul the board of its domestic Swiss business after its takeover of Credit Suisse, including a new chairman to oversee both operations. The lender said Roger von Mentlen will become chairman of the boards of directors of UBS Switzerland and of Credit Suisse Switzerland. He will replace …

UBS overhauls board of domestic business after Credit Suisse takeover Read More »

By Luc Cohen NEW YORK (Reuters) -Deutsche Bank on Friday won final approval from a U.S. judge for a $75 million settlement it reached with victims of Jeffrey Epstein who had accused the German company of facilitating the late financier’s alleged sex trafficking. U.S. District Judge Jed Rakoff, who granted preliminary approval for the deal …

US judge approves Deutsche Bank $75 million settlement with Epstein accusers Read More »

By Christoph Steitz and Ilona Wissenbach FRANKFURT (Reuters) -Volkswagen cut its profit margin outlook for the current year on Friday, blaming negative effects from raw materials hedges at the end of the third quarter. Like many other industrial firms, carmakers hedge against commodity price swings, potentially causing non-cash gains or losses, usually at the end …

Volkswagen cuts profit outlook on hit from raw material hedges Read More »

By Belén Carreño and Anthony Boadle MADRID/BRASILIA (Reuters) – Argentina and Brazil are requesting 12.5 billion euros ($13.2 billion) in financial aid from the European Union in talks to conclude a trade agreement with South America’s Mercosur bloc, according to a document seen by Reuters. Three EU and South American diplomats confirmed the Argentine request, …

Argentina, Brazil seek 12.5 billion euro financial aid in EU-Mercosur talks Read More »

By Giuseppe Fonte ROME (Reuters) – Italy’s Treasury said on Friday it had picked UBS , Jefferies and Clifford Chance as financial and legal advisers for the privatisation of bailed-out bank Monte dei Paschi di Siena (MPS). Commitments agreed with European Union competition authorities at the time of MPS’s 5.4-billion-euro ($5.72 billion) bailout in 2017 …

Italy picks UBS, Jefferies, Clifford Chance for MPS privatisation Read More »

By David Milliken LONDON (Reuters) -British retail sales fell more than expected in September as shoppers avoided buying autumn clothing during unseasonably warm weather, against a backdrop of broader cost of living pressures that could see the economy shrink overall in the third quarter. Retail sales volumes dropped by 0.9% on the month after a …

September sizzler hurts UK retail as shoppers avoid autumn fashions Read More »

MOSCOW (Reuters) -Russian e-commerce firm Ozon said on Friday it had notified Nasdaq of its intention to delist its American depositary shares (ADSs), ending a near-three association with the U.S. exchange. Ozon, one of Russia’s top e-commerce companies, raised nearly $1 billion in an initial public offering (IPO) in late 2020, a debut that sparked …

Russian e-commerce firm Ozon notifies Nasdaq of delisting intention Read More »