PARIS (Reuters) – French power group EDF said some of its workers were going on strike from Wednesday night until Friday, as a part of a national call for strike action which is expected to see teachers and other professions walk out across the country. Previous strikes at EDF have cut several gigawatts of power …
French utility EDF posts two-day notice for national strike Read More »
MARRAKECH (Reuters) – The European Central Bank has made “important progress” in getting inflation back down to target but there is still a long road ahead and a further rate hike cannot be ruled out, Dutch central bank chief Klaas Knot said on Wednesday. The ECB has raised interest rates at each of its past …
ECB has long road on disinflation but in a good place now: Knot Read More »
By Eva Mathews and Maggie Fick (Reuters) -GSK on Wednesday said it agreed to settle another lawsuit in California alleging its discontinued heartburn drug Zantac caused cancer, as the British drugmaker sought to end costly litigation that has weighed on shares. The company, which has so far only settled cases in California, did not give …
GSK settles another California lawsuit on heartburn drug Zantac Read More »
LONDON (Reuters) – Britain’s Financial Conduct Authority said on Wednesday it has censured London Capital & Finance (LCF) for “unfair and misleading” promotions of minibonds, but there is no financial penalty as the firm is insolvent. LCF’s collapse in early 2019 left investors facing losses on the unregulated minibonds they had bought, leaving Britain’s taxpayers …
By Iain Withers, Pablo Mayo Cerqueiro and Nelson Bocanegra LONDON/BOGOTA (Reuters) -When Vernon Hill launched Metro Bank in 2010, his Yorkshire terrier tucked under one arm, he vowed the upstart lender would challenge the dominance of Britain’s big banks. But the challenger banks have struggled to shake up a market dominated by the “Big Four” …
Analysis-Metro rescue puts Britain’s banking underdogs under spotlight Read More »
By Foo Yun Chee BRUSSELS (Reuters) -Europe’s telecoms operators pushing for Big Tech to help pay for the rollout of 5G and broadband will likely have to wait for the next European Commission to decide whether to propose rules to this end, people familiar with the matter said on Tuesday. Telecoms companies say Alphabet’s Google, …
Exclusive-EU push for Big Tech to fund 5G rollout shelved to 2025, sources say Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Cargo shipping companies will from next year no longer enjoy a decades-long exemption from EU rules against anti-competitive agreements because this derogation does not boost competition any more, EU antitrust regulators said on Tuesday. First adopted in 2009, the Consortia Block Exemption Regulation (CBER) allows liner shipping operators …
Cargo shipping to lose EU antitrust exemption from 2024 Read More »
(Reuters) – The German premium footwear company Birkenstock priced its U.S. initial public offering (IPO) at $46 per share, the Wall Street Journal reported on Tuesday. (Reporting by Mrinmay Dey in Bengaluru; Editing by Maju Samuel)
By Dietrich Knauth (Reuters) -Drugmaker Mallinckrodt on Tuesday won court approval for a bankruptcy plan that cuts $1 billion from what it must pay opioid crisis victims, cancels existing equity shares, and trims nearly $2 billion in other debt. The Ireland-based company reached a relatively swift conclusion to its second Chapter 11, which began on …
Court OKs Mallinckrodt restructuring, $1 billion cut to opioid settlement Read More »
By David Lawder MARRAKECH, Morocco (Reuters) -The International Monetary Fund said on Tuesday that it is seeing “significant support” for a U.S.-backed increase in quota lending resources without changes to its shareholding structure at IMF and World Bank meetings in Morocco. But IMF Managing Director Kristalina Georgieva told civil society groups that she wants to …
Exclusive-IMF sees support for funding increase, wants deadline on shareholding changes Read More »
