By Foo Yun Chee BRUSSELS (Reuters) – The metaverse, shared virtual worlds accessible via the internet, has not triggered any concerns so far or the need for legislation to rein it in, EU antitrust chief Margrethe Vestager said on Thursday. An initiative that she will present on the metaverse next week aims to help competition …
Vestager says no concerns about metaverse, sees no regulation yet Read More »
By Victoria Klesty OSLO (Reuters) -Norwegian Air has agreed to buy domestic peer Wideroe for 1.13 billion crowns ($106 million) as the reborn airline looks to strengthen its position in its home region. The deal is the latest reshuffling in the Norwegian airline sector that saw newcomer Flyr file for bankruptcy in January having failed …
Norwegian Air to buy regional peer Wideroe for $106 million Read More »
By Matteo Allievi and Shubham Batra (Reuters) -European shares slumped on Thursday, as heightened concerns about an economic slowdown and further rate hikes globally dented risk sentiment, while shares of Embracer group slid after a discounted share issue. The pan-European STOXX 600 index dropped 1.2%, led by losses in travel and leisure and retail index, …
European shares drop as rate hike jitters weigh; Embracer slips Read More »
(Reuters) – British money transfer group CAB Payments has sold up to 335 million pounds ($426 million) worth of shares in its initial public offering (IPO), the company said on Thursday, giving a boost to London’s capital markets. The amount includes shares placed through an over-allotment option that banks may exercise once the stock fully …
CAB Payments raises up to $426 million in rare London IPO Read More »
(Reuters) -Claims for compensation by British vacuum cleaner maker Dyson over European Union energy labelling rules should be reconsidered, the advocate general of the EU’s top court said on Thursday. Dyson in 2018 claimed 176 million euros ($191 million) in compensation following its successful challenge of labelling requirements on vacuum cleaners introduced by the European …
Dyson’s compensation claims should be reconsidered, top EU court adviser says Read More »
By Krystal Hu (Reuters) -ChatGPT, the wildly popular AI chatbot launched in November, saw monthly traffic to its website and unique visitors decline for the first time ever in June, according to analytics firm Similarweb. Worldwide desktop and mobile traffic to the ChatGPT website decreased by 9.7% in June from May, while unique visitors to …
ChatGPT’s explosive growth shows first decline in traffic since launch Read More »
By Naomi Rovnick and Chiara Elisei LONDON (Reuters) – A financial stream that helped fund the world’s riskiest companies and grew into a market estimated at $1.5 trillion in the low interest rate years is drying up, as aggressive rate hikes bring tougher borrowing conditions and uncertainty. The pace of issuance of so-called collateralised loan …
Why a $1.5 trillion source of corporate financing is choking on higher rates Read More »
By Huw Jones LONDON (Reuters) -Global regulators on Wednesday proposed tougher rules for investment funds to increase their resilience to market shocks as they clamp down on “non banks” which account for about half the world’s financial sector. Central banks had to inject liquidity into markets in March 2020 during COVID-19 lockdowns as money market …
Regulators tighten screw on investment fund redemptions Read More »
By Foo Yun Chee BRUSSELS (Reuters) – Stung by criticism of tardy privacy investigations and the Irish privacy regulator’s outsized role in overseeing Big Tech, the European Commission on Tuesday announced new rules to help watchdogs work on cross-border cases at a faster clip. Critics say investigations take too long and fines are too low …
EU Commission revamps procedures to speed up Big Tech privacy probes Read More »
LONDON (Reuters) – Cyber insurance rates dropped around 10% in June compared with a year earlier, reversing recent sharp rate rises, as claims proved smaller than expected, broker Howden said in a report on Wednesday. Cyber insurance rates more than doubled in 2021 during the COVID-19 pandemic, driven by a rise in so-called ransomware attacks, …
