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DAVOS, Switzerland (Reuters) – The European Central Bank has yet to win its fight against sky high inflation so its guidance for big rate hikes in the months ahead remains valid, French central bank chief Francois Villeroy de Galhau said on Wednesday. The ECB has raised rates by 2.5 percentage points since July and flagged …

Davos 2023: ECB’s Villeroy says inflation battle not yet won, rate guidance stands Read More »

By Divya Chowdhury and Savio Shetty DAVOS, Switzerland (Reuters) – Heavy electrical company ABB Ltd Chairman Peter Voser sees his firm acquiring between five to 10 small-to-medium enterprises a year to add to the company’s organic business, he said on Monday. “Each division of ABB should be active in organic and inorganic strategies, which would …

ABB aims for 5-10 small-to-medium acquisitions a year – chairman Read More »

By Divya Chowdhury and Lisa Pauline Mattackal DAVOS, Switzerland (Reuters) – The European Bank for Reconstruction and Development expects a record loss in 2022, primarily due to losses from its portfolio holdings in Russia and Belarus, EBRD President Odile Renaud-Basso said on Wednesday. The bank had around $1 billion in its Russia and Belarus-focused portfolio …

EBRD expects record 2022 loss due to Russia, Belarus holdings Read More »

DAVOS, Switzerland (Reuters) – The author who first envisioned the metaverse 30 years ago sat down on Wednesday with a top executive from the company investing billions in building it and agreed there were formidable hurdles to bringing it to the masses. Neal Stephenson, who coined the term in his 1992 novel “Snowcrash”, and Chris …

Davos 2023: Thirty years on, author Neal Stephenson discusses his metaverse vision with Meta Read More »

By Jeffrey Dastin and Yuvraj Malik DAVOS, Switzerland (Reuters) – Microsoft Corp on Wednesday said it would eliminate 10,000 jobs and take a $1.2 billion charge to earnings, as its cloud-computing customers reassess their spending and the company braces for potential recession. The layoffs add to the tens of thousands announced in recent months across …

Microsoft to shed 10,000 jobs, adding to glut of tech layoffs Read More »

By Tom Hals and Jody Godoy (Reuters) – As Elon Musk prepares to take the stand at a trial to determine whether he misled investors about taking Tesla Inc private in 2018, the billionaire can expect his tweets, public comments and his thin skin to be used against him, legal experts said. Tesla shareholders want …

Grilling Musk: use CEO’s tweets, thin skin against him, trial experts say Read More »

PARIS (Reuters) – One day of strikes and protests against a planned pension reform in France will not disrupt refinery operations, TotalEnergies’ chief executive said on Wednesday evening, but this could change if the strikes were to last. His comments, made in an interview with BFM TV, came hours ahead of a major strike action …

Thursday’s strike will not disrupt refineries if shortlived -Total CEO Read More »