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LUCERNE, Switzerland (Reuters) -UBS Chief Executive Sergio Ermotti said on Friday that the situation at Credit Suisse has stabilized and he did not think outflows at the embattled bank were continuing. Addressing the Swiss Media Forum in Lucerne, Ermotti also said he hoped there would be an investigation into the circumstances that pushed Credit Suisse …

UBS CEO: Credit Suisse no longer seeing outflows Read More »

(Reuters) – Swedish batterymaker Northvolt could build two battery plants in parallel, a spokesperson said on Friday, after fears in Europe that the company would put plans on the continent on hold in favour of investing in North America. Confirming an earlier Bloomberg report, the spokesperson said nothing had been decided but it was possible …

Northvolt considers building two battery plants in parallel – spokesperson Read More »

FRANKFURT (Reuters) – European Central Bank supervisors are often too lenient with banks in how they manage credit risk, especially in the case of the worst performers, the European Court of Auditors (ECA) said on Friday in a report that highlighted a number of shortcomings. The ECB supervises just over a hundred of the euro …

Audit finds holes in ECB’s management of bank credit risk Read More »

By Alvise Armellini and Elvira Pollina ROME (Reuters) -Italy’s antitrust agency AGCM said on Thursday it had opened a probe into U.S. technology giant Apple Inc for alleged abuse of its dominant position in the apps market. The watchdog said Apple penalised third-party app developers by imposing “a more restrictive privacy policy” than it applies …

Italy’s antitrust watchdog probes Apple over alleged app market abuse Read More »

By Katie Paul and Sheila Dang NEW YORK (Reuters) – Social media giant Meta Platforms Inc joined the generative AI product race on Thursday, saying it would begin testing artificial intelligence-powered ad tools that can create content like image backgrounds and variations of written text. A select group of advertisers will be invited to experiment …

Facebook owner Meta announces tests of generative AI ads tool Read More »

By Joan Faus BARCELONA (Reuters) – European Central Bank Vice President Luis de Guindos on Thursday singled out the rising price of services as his top concern in the ECB’s fight against inflation, saying they were being driven up by higher wages. Inflation in the euro zone has fallen from record levels, but the price …

ECB’s de Guindos singles out services as top inflation worry Read More »

MADRID (Reuters) – Spanish telecom firm Telefonica is open to discussing potential partnership on fiber networks in Spain with rival Vodafone, a company top official said on Thursday. The Spanish firm is “open and prepared”, its Chief Operating Officer Angel Vila said on Thursday, according to a company spokesperson, who confirmed an earlier report by …

Telefonica open to discuss potential fiber deal with Vodafone in Spain Read More »

(Reuters) – Twitter Inc on Thursday allowed users who subscribe to its Blue verification feature an early access to its encrypted messaging service. The social media platform, owned and run by Tesla CEO Elon Musk, said the service was now available to verified users who have the latest version of the app installed. A Twitter …

Twitter’s verified users get early access to encrypted messaging Read More »