OSLO (Reuters) – Norway’s $1.4 trillion sovereign wealth fund, the world’s single largest stock market investor, will vote in favour of Centrica’s CEO pay package at the British Gas owner’s annual general meeting on June 13, the fund said on Thursday. Centrica is proposing a pay package worth 4.5 million pounds ($5.6 million) for 2022 …
Norway’s wealth fund to back Centrica CEO pay deal Read More »
By Alexander Marrow (Reuters) – Russian internet firm Yandex on Thursday said it had been granted permission to retain its Nasdaq Stock Exchange listing provided the restructuring and divestment of its Russian business is concluded by the end of 2023. Often dubbed “Russia’s Google”, Yandex is making progress on a corporate restructuring plan that should …
Yandex granted Nasdaq lifeline subject to Russia restructuring Read More »
By Anna Ringstrom and Marie Mannes STOCKHOLM (Reuters) -Autoliv, the world’s biggest maker of airbags and seatbelts, plans to cut around 8,000 jobs, joining the growing ranks of companies speeding up cost savings in the face of high inflation. The Swedish company, which counts many of the world’s top automakers among its customers, said on …
Auto supplier Autoliv to cut 8,000 jobs, close sites Read More »
(Reuters) – The Telegraph group of newspapers could be sold after the Bank of Scotland appointed receivers for shares of the publisher’s owners who failed to repay loans by the bank, restructuring group AlixPartners said on Wednesday. Receivers Alastair Beveridge and Ben Browne of AlixPartners will explore ways to recover the debts for the bank, …
Telegraph faces sale after UK lender takes control of owners Read More »
By Svea Herbst-Bayliss and Echo Wang NEW YORK (Reuters) – Barclays banker John Plaster, who led the bank’s power and utilities group in the Americas, has resigned to join Guggenheim Partners, people familiar with the matter said on Wednesday. Mark Hudson, a managing director who worked in the industrials group, is also leaving Barclays and …
Barclays hit by more departures as Plaster, Hudson exit, sources say Read More »
By Valerie Insinna and David Shepardson WASHINGTON (Reuters) -Boeing said on Tuesday it could be forced to slow deliveries of its 787 Dreamliner after the company discovered a new production flaw that will require it to inspect all 90 jets in its inventory, the latest in a series of setbacks for the widebody plane. While …
New 787 issue could slow delivery of 90 jets in Boeing’s inventory Read More »
AMSTERDAM (Reuters) – Dutch privacy watchdog DPA said on Wednesday it is “concerned” about the use of personal data by software makers developing artificial intelligence (AI) and it has sent a letter to Microsoft-backed OpenAI seeking more information. Governments including the European Union are considering how to regulate the technology after OpenAI’s ChatGPT became the …
Dutch privacy watchdog seeks information from OpenAI, flags concerns Read More »
BERLIN (Reuters) -Germany’s cartel office said Meta plans to introduce a new overview for users of its platforms Facebook and Instagram, in a step towards allaying anti-trust concerns following years of discussions with the regulator. Meta’s accounts centre will allow users to make “a largely free and informed decision” about whether they want to use …
Meta plans new overview for Facebook, Instagram users, German regulator says Read More »
By Tom Wilson LONDON (Reuters) – Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion of client assets through a Seychelles-based firm set up to take customer deposits, a U.S. Securities and Exchange Commission filing shows. The SEC filing, which on Tuesday asked a U.S. court to freeze …
Binance CEO’s trading firm received $11 billion via client deposit company, SEC says Read More »
By Doyinsola Oladipo NEW YORK (Reuters) -Hotel room rates in the U.S. and Europe are rising and may get even more expensive as supply has failed to keep up with demand, industry executives said. U.S. hotel room supply is barely growing as tighter lending standards from regional banks make it harder for developers to secure …
US, European hotel rates may keep rising, industry executives say Read More »
