By Guy Faulconbridge and Elena Fabrichnaya MOSCOW (Reuters) -The end of the dominance of the U.S. dollar is nigh as the Chinese yuan rises and the rest of the world sees the peril of the West’s failed attempt to bring Russia to its knees over Ukraine, one of Moscow’s most powerful bankers told Reuters. Andrei …
Russian banker Kostin says the end of U.S. dollar dominance is nigh Read More »
ZURICH (Reuters) – UBS Group’s takeover of Credit Suisse, arranged by the Swiss authorities to stave off a broader banking crisis, became official on Monday. The closing of the tie-up marks the final chapter for the 167-year old institution after years of scandals and missteps eroded customer confidence and brought the lender to the edge. …
Countdown to mega merger – how Credit Suisse wobbled and UBS rushed to rescue Read More »
COPENHAGEN (Reuters) – Denmark aims to raise the age limit for the collection of personal data from children by tech giants such as Google, Snapchat and Meta, in a bid to curb the massive accumulation of data on young people, the government said on Monday. It wants to raise to between 15 and 16 years …
Denmark looks to curb collection of data on children by Big Tech Read More »
By Michelle Nichols UNITED NATIONS (Reuters) – U.N. Secretary-General Antonio Guterres on Monday backed a proposal by some artificial intelligence executives for the creation of an international AI watchdog body like the International Atomic Energy Agency (IAEA). Generative AI technology that can spin authoritative prose from text prompts has captivated the public since ChatGPT launched …
UN chief backs idea of global AI watchdog like nuclear agency Read More »
By Foo Yun Chee BRUSSELS (Reuters) – EU countries on Monday tweaked draft rules aimed at giving workers at online companies such as Uber and Deliveroo employee benefits, ahead of negotiations with EU lawmakers who want more comprehensive rules than both EU governments and the European Commission. The draft rules announced by the EU executive …
EU countries amend draft proposal on gig workers’ rights, companies unhappy Read More »
By Emilio Parodi and Foo Yun Chee MILAN/BRUSSELS (Reuters) -EU antitrust regulators who raided Kering’s Gucci and other fashion firms in April are looking into how they set prices of handbags and leather goods for distributors, three people with direct knowledge of the matter told Reuters. Kering confirmed at the time that Gucci was cooperating …
EU probing raided fashion firms’ pricing practices -sources Read More »
(Reuters) -Oracle topped fourth-quarter revenue estimates on Monday, boosted by growing demand for its cloud offerings from companies deploying AI, sending its shares up nearly 3% in extended trade. Revenue for the quarter jumped about 17% to $13.84 billion, beating analysts’ estimates of $13.74 billion, according to Refinitiv. Oracle’s push into the cloud computing market …
Oracle beats quarterly revenue estimates on cloud services demand Read More »
By Nupur Anand, Lananh Nguyen, Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -JPMorgan Chase agreed to pay about $290 million to settle a class action lawsuit by Jeffrey Epstein’s victims, resolving a large part of litigation over the bank’s relationship with the disgraced financier. Monday’s settlement follows months of embarrassing disclosures that JPMorgan ignored …
JPMorgan settles with Jeffrey Epstein victims for $290 million Read More »
BRASILIA (Reuters) – European Commission President Ursula von der Leyen on Monday said the EU hopes to finalize its long-delayed trade deal with the Mercosur bloc of South American countries by the end of the year. Brazilian President Luiz Inacio Lula da Silva, after meeting with von der Leyen, criticized an addendum the EU has …
EU chief sees Mercosur deal this year, Lula fears environmental sanctions Read More »
By Harry Robertson LONDON (Reuters) – PIMCO is underweight the U.S. dollar and overweight UK government bonds in some funds, a senior fund manager said on Monday. “There’s no guarantee that we’re going to be short the dollar all the time, but today, (in) positioning we have dollar underweights versus G10 and EM (emerging markets),” …
PIMCO’s bond CIO says underweight dollar, sees value in UK gilts Read More »
