By Abigail Summerville, Milana Vinn and David Carnevali NEW YORK (Reuters) – UBS Group AG is poised to make sweeping changes to the senior ranks of its investment banking division globally as soon as Monday, marking a new milestone in the process of integrating Credit Suisse, people familiar with the matter said. The changes are …
Exclusive-UBS nears major investment bank restructuring -sources Read More »
By David Shepardson and Diane Bartz WASHINGTON (Reuters) -A U.S. judge hearing the Justice Department’s antitrust lawsuit accusing Google of unlawfully maintaining monopolies in the internet search market let stand key claims made by the federal government. Google, a unit of Alphabet, had asked for summary judgment on all the government’s claims in the case. …
Judge allows key US antitrust Google search claims to go to trial Read More »
By Michelle Nichols UNITED NATIONS (Reuters) -U.S. bank JPMorgan this week stopped processingpayments for the Russian Agricultural Bank, Russia said on Friday, as it demanded action, not promises, from Washington to help Russian grain and fertilizer reach global markets. JPMorgan had handled some Russian grain export payments for the past few months with reassurances from …
Russia says JPMorgan stops processing its grain payments Read More »
STOCKHOLM (Reuters) -Thirty-seven Ericsson shareholders are suing the Swedish telecoms company for a combined 1.8 billion Swedish crowns ($170 million), saying its CEO’s disclosure of activities in Iraq depressed the stock, business daily Dagens Industri reported on Friday. Ericsson and CEO Boerje Ekholm have been criticised heavily in the past year for their handling of …
Sweden’s Ericsson sued by some shareholders for $170 million -media Read More »
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge has rejected former Allianz fund manager Gregoire Tournant’s bid to dismiss a criminal fraud case over his role in causing more than $7 billion of investor losses. In an order made public on Friday, U.S. District Judge Laura Taylor Swain in Manhattan federal court denied …
Allianz ex-manager must face US fraud charges related to $7 billion investor loss Read More »
By Martin Coulter LONDON (Reuters) – Chinese-owned social media platform TikTok has announced a raft of new features for European users aimed at improving compliance with incoming European Union regulations. Under the EU’s Digital Services Act (DSA), TikTok’s owner ByteDance, Alphabet unit Google, other large online platforms will be required to police illegal content on …
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By Milana Vinn NEW YORK (Reuters) – UBS Group AG is reshuffling its technology, media and telecommunications (TMT) team, elevating some bankers who joined this year as the Swiss bank charts its strategy following its takeover of Credit Suisse, people familiar with the matter said on Friday. The changes are part of a broader shake-up …
Exclusive-UBS plans TMT dealmaking team shake-up -sources Read More »
LONDON (Reuters) -Two measures of corporate and economic health were flashing red on Friday as shipping group Maersk reported a fall in global demand for sea containers and advertising giant WPP said clients in the U.S. tech sector were slashing their marketing spend. A.P. Moller-Maersk lowered its estimate for global container trade this year as …
Two measures of global corporate health flash red Read More »
By Shashwat Chauhan and Rupali Chaudhary (Reuters) -UK’s FTSE 100 snapped a three-session losing streak on Friday, buoyed by gains in energy stocks, while WPP shares slumped after the world’s biggest advertising group reduced its full-year outlook. The FTSE 100 ended up 0.5% but still logged its first weekly decline in four weeks, pressured by …
UK’s FTSE 100 boosted by energy stocks but logs weekly decline Read More »
By Jacob Gronholt-Pedersen COPENHAGEN (Reuters) -Shipping group A.P. Moller-Maersk warned on Friday of a steeper decline in global demand for shipping containers by sea this year, prompted by muted economic growth and customers reducing inventories. The company, one of the world’s biggest container shippers with a market share of around 17%, said it expects container …
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