By John Irish and Mathieu Rosemain PARIS (Reuters) -Czech billionaire Daniel Kretinsky neared victory on Monday in a battle to take over French retailer Casino after rival bidders pulled out of the race, paving the way for a deal to rescue the debt-laden group and save it from bankruptcy. Kretinsky has been vying to take …
Czech billionaire Kretinsky closes in on Casino as rivals drop bid Read More »
LONDON (Reuters) – Private equity house Silver Lake is looking to raise about 1 billion euros ($1.12 billion) of debt to fund its takeover of German technology group Software AG, a term sheet seen by Reuters showed on Monday, breathing new life into the sluggish leveraged loan market. Banks including JPMorgan, Citigroup and Banco Santander …
Silver Lake seeks 1 billion euro syndicated loan to fund Software AG deal Read More »
FRANKFURT (Reuters) -German financial regulator BaFin on Monday said it had extended its measures in place with online bank N26 to prevent money laundering, the latest episode of stepped-up scrutiny of one of Europe’s most valuable fintechs. Constraints since 2021 that have now been extended include a special monitor at the bank and a limit …
German watchdog extends measures at N26 to prevent money laundering Read More »
OSLO (Reuters) – Facebook and Instagram owner Meta Platforms will be fined one million crowns ($100,000) per day over privacy breaches unless it takes remedial action, Norway’s data protection authority said on Monday, in a move that could have wider European implications. Regulator Datatilsynet said it would charge the fine every day from Aug. 4 …
Norway regulator to fine Meta over privacy breaches Read More »
By John Revill ZURICH (Reuters) -Luxury group Richemont reported a 14% increase in first- quarter sales on Monday, boosted by a strong rebound in Asia and demand for its high-end jewellery. But the owner of Cartier and Van Cleef & Arpels jewellery also pointed to a downturn in the Americas, which weighed on its shares. …
Luxury group Richemont boosted by Asia recovery but Americas weigh Read More »
MILAN (Reuters) – Banco BPM shares rose as much as 2.7% on Monday after Italy’s third-largest bank said it would sell 71.6% of its card and shopowner payments operations to private equity fund FSI for 500 million euros ($561 million) in cash and shares. Banco BPM said late on Friday it would receive an initial …
Banco BPM shares rise after payments deal with FSI Read More »
MOSCOW (Reuters) -The Russian state has taken control of French yoghurt maker Danone’s Russian subsidiary along with beer company Carlsberg’s stake in a local brewer, according to a decree signed by President Vladimir Putin on Sunday. The decree said that foreign-owned stakes in Danone Russia and Baltika Breweries were being put under the “temporary management” …
Moscow takes control of Russian subsidiary of Danone and Carlsberg’s stake in brewer Read More »
(Reuters) -Microsoft has signed an agreement to keep Call of Duty on PlayStation following the acquisition of Activision Blizzard, Microsoft Gaming CEO Phil Spencer said in a tweet on Sunday. A deal to keep Call of Duty on Playstation could further ease concerns surrounding the acquisition’s impact on competition. Speaking on the agreement, Microsoft President …
Microsoft signs agreement to keep Call of Duty on Playstation Read More »
LONDON (Reuters) -Britain’s opposition Labour Party is not looking to change the Bank of England’s 2% inflation target if it wins the next election, a spokesperson said on Sunday, clarifying earlier remarks made by party leader Keir Starmer. Britain has the highest inflation of any of its international developed-economy peers, measured at 8.7% in May. …
UK opposition Labour Party not looking for change to BoE inflation target Read More »
(Reuters) – UBS Group has decided to retain EY as its external auditor, enlarging its role to include Credit Suisse’s accounts from 2024, the Financial Times reported on Sunday, citing people with knowledge of the decision. The size of the contract will require the Big Four accounting firm to call in staff from other countries …
UBS to retain EY as auditor after Credit Suisse takeover, Financial Times reports Read More »
