Reuters UK Business

By Jonathan Stempel (Reuters) – A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked …

Judge throws out shareholder lawsuit against Elon Musk over Twitter buyout Read More »

LONDON (Reuters) – British Finance Minister Jeremy Hunt plans to raise concerns about the surge in food prices and discuss ways to ease the strain on families when he meets food manufacturers on Tuesday, his office said in a statement. “High food prices are proving stubborn so we need to understand what’s driving that,” Hunt …

UK finance minister to meet food manufacturers to discuss high prices Read More »

By Sam Tobin LONDON (Reuters) – German-owned discount supermarket Lidl may seek a share of any profit made by rival Tesco from its Clubcard discount scheme as a result of copying Lidl’s logo, London’s High Court heard on Monday. Lidl sued Britain’s biggest retailer Tesco in 2020 shortly after Tesco adopted a yellow circle against …

Lidl may seek bite of Tesco’s Clubcard profits after winning trademark lawsuit Read More »

By Daniel Wiessner (Reuters) -First Citizens BancShares Inc, which acquired Silicon Valley Bank following its collapse, sued HSBC Holdings PLC on Monday, accusing it of poaching more than 40 of the failed bank’s employees in order to launch its own U.S. venture banking business. The lawsuit filed in San Francisco federal court says HSBC violated …

First Citizens sues HSBC for hiring away Silicon Valley Bank staff Read More »

By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge on Monday dismissed long-running litigation by investors who accused HSBC Holdings Plc and Bank of Nova Scotia of conspiring to fix silver prices. U.S. District Judge Valerie Caproni in Manhattan said the investors lacked legal standing to pursue federal antitrust claims under the Sherman Act, …

Banks win dismissal of U.S. silver price-fixing litigation Read More »

By Herbert Lash (Reuters) -A derivatives committee ruled on Monday that a bankruptcy credit event had not occurred in relation to Credit Suisse, quashing investors’ efforts to trigger a payout on credit insurance linked to the Swiss lender. The ruling was in response to an investor question about $17 billion in senior and subordinated bonds …

Credit Suisse bankruptcy event has not occurred – CDS panel Read More »

By Sudip Kar-Gupta PARIS (Reuters) -Rallye, the holding company behind indebted French supermarket company Casino, on Monday said it had started proceedings with a Paris court to get a period of grace over its debt situation. “As of today, discussions with the holders of Rallye’s debts secured by Casino’s securities placed in trust have not …

Casino’s holding company Rallye opens process to get grace period over debts Read More »

By Eric Onstad LONDON (Reuters) – Commodity broker Sucden Financial Ltd (SFL) said it has written down a bad debt from TMT Metals, a firm that has been linked to businessman Prateek Gupta, whom global trader Trafigura has accused of fraud of over half a billion dollars. “SFL is interested in the Trafigura court case, …

Broker Sucden writes down debt linked to alleged Trafigura fraudster Read More »

LONDON (Reuters) -Junior doctors in England plan to stage more strikes in June, their union said, meaning more strain for the state-run health service, NHS, after pay negotiations with the government collapsed on Monday without a resolution. The strikes will be from June 13 to 17, the British Medical Association (BMA), which represents about 45,000 …

Junior doctors in England plan more strikes in fight for better pay Read More »