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ZURICH (Reuters) -Switzerland’s Social Democratic Party has drawn up a proposal to shrink UBS assets after its takeover of Credit Suisse, the Aargauer Zeitung newspaper reported. The combined bank will have a balance sheet of around 1.5 trillion Swiss francs – roughly double the size of the Swiss economy, posing enormous risks to the country …

Switzerland’s Social Democrats propose shrinking UBS – Aargauer Zeitung Read More »

By Adrianna Ebert GDANSK (Reuters) – Polish games developer CD Projekt is not for sale, its CEO reiterated on Monday, following weekend rumours that the maker of “Cyberpunk 2077” could be targeted by Sony. “Nothing has changed on our end. I can repeat what we’ve been saying throughout the years – CD Projekt is not …

CD Projekt is not for sale – CEO Read More »

By Tim Hepher and Valerie Insinna PARIS/WASHINGTON (Reuters) -Cathay Pacific Airways Ltd is close to placing an order worth around $2 billion for Boeing 777-8F freighters as the Hong Kong carrier embarks on the partial renewal of a fleet of dedicated 747 cargo jets, industry sources said on Monday. The selection follows a hard-fought battle …

Cathay Pacific nears Boeing 777-8F freighter order -sources Read More »

By Toby Sterling AMSTERDAM (Reuters) – Uber is seeing an influx of European taxi drivers joining its platform, an executive told Reuters, a surprising development given the history of tensions between the company and the traditional taxi industry. In an interview, Uber’s Anabel Diaz, who oversees the company’s mobility (ride-sharing) business in EMEA, said business …

Uber executive says European taxis joining platform Read More »

(Reuters) – Foreign investors who left Russia after selling their businesses there between March 2022 and March 2023 withdrew about $36 billion from the country, the state RIA news agency reported on Monday, citing analysis of data from the Central Bank. Scores of the world’s biggest companies have left or scaled back their operations in …

Foreign investors withdrew $36 billion after selling businesses in Russia – RIA Read More »

PRAGUE (Reuters) – Raising the Czech National Bank’s interest rates further would still make sense as it could serve as a signal that the central bank has not given up on its efforts to tame inflation, board member Tomas Holub said on Sunday. The central bank has kept its main interest rate at 7.00% since …

Czech central banker Holub: raising rates more would still makes sense Read More »

LONDON (Reuters) – The British government is looking at plans to have retailers cap the prices of basic food items such as bread and milk, the Telegraph reported, as the cost of such essentials continued to rise in the double digits. However, asked about such price controls, health minister Steve Barclay told BBC TV it …

UK govt to ask supermarkets to cap prices of basic food items – Telegraph Read More »

PARIS (Reuters) – French Economy Minister Bruno Le Maire is in “very close discussions” with credit ratings agency Standard and Poor’s, which put France on notice in January for a possible downgrade, Prime Minister Elisabeth Borne said on Sunday. The agency, which is due to give an update on France on June 2, said a …

France in ‘very close discussions’ with S&P ahead of rating update Read More »

MOSCOW (Reuters) – Russia will raise its base price for calculating wheat, barley and maize export taxes, according to a decree published on an official government website on Saturday. The move should result in the duty itself decreasing. The decree comes into force on June 1. The new base price for calculating the wheat export …

Russia raises calculation price for grain export duty Read More »