By Jaiveer Shekhawat and Saeed Azhar (Reuters) -HSBC is exiting its business banking portfolio in the United States, as it continued to simplify operations and shift its focus to Asia and Middle East markets. “Following a strategic review of our business, we have decided to exit our Business Banking portfolio in the United States,” it …
HSBC to close its US business banking unit to simplify operations Read More »
(Reuters) -Rivian Automotive is working with JPMorgan Chase on a potential high-yield bond sale, in part to refinance its upcoming debt, Bloomberg News reported on Friday, citing people familiar with the transaction. The EV maker is looking to raise as much as $2 billion, partly to replace existing bonds that mature in 2026, the report …
Rivian eyes new debt deal as expected vehicle deliveries slump, Bloomberg News reports Read More »
By Savyata Mishra (Reuters) – Gap shares fell 20% in early trading on Friday after the Old Navy owner warned that U.S. tariffs would squeeze this year’s profit, even as the apparel maker aims to soften the blow by diversifying its supply chain and investing in U.S. cotton. The company reaffirmed its annual forecasts that …
Gap shares slide as tariffs loom large over apparel maker’s turnaround plans Read More »
MADRID (Reuters) -A New York court has found enough evidence to proceed with a defamation lawsuit filed by Grifols against short seller Gotham City Research, though it dismissed many of the Spanish pharmaceutical company’s claims. The Federal District Court for the Southern District of New York rejected a request filed by Gotham City to dismiss …
US court proceeds with Grifols defamation case against Gotham City, but narrows scope Read More »
By Lawrence White and Michael Holden LONDON (Reuters) -NatWest has returned to full private ownership after a 45 billion-pound ($60.59 billion) state rescue at the height of the 2008 financial crisis, ending a costly, taxpayer-funded government investment that reshaped the lender and industry. Britain’s government sold its remaining less than 1% stake in the bank, …
Britain offloads last NatWest stake after crisis-era rescue Read More »
By Lawrence White LONDON (Reuters) -The bank formerly known as RBS was a symbol of pre-global financial crisis era excess when the sprawling lender, riddled with toxic assets, was bailed out by Britain’s government in 2008. On Friday it returned to full private ownership. The UK bank now known as NatWest has endured an arduous …
NatWest’s 16-year journey from crisis bailout to reprivatisation Read More »
By Libby George, Olena Harmash and Marc Jones LONDON/KYIV (Reuters) -Ukraine’s finance ministry said on Friday it would not be paying more than half a billion dollars due to holders of its GDP warrants, marking the first payment default since it created the instruments. The war-ravaged country said it owes $665 million on June 2 …
Ukraine to default on payment to GDP warrant holders Read More »
BEIJING (Reuters) -Porsche struck a deal on Friday to set up its China research and development centre in Shanghai’s Jiading district, according to a local government statement. Under the deal, Porsche models will be equipped with the first infotainment solution tailored for the Chinese market in 2026, the statement said. (Reporting by Beijing newsroomEditing by …
Porsche to set up R&D centre in Shanghai, local government says Read More »
By Nikhil Sharma, Purvi Agarwal and Ragini Mathur (Reuters) -European shares closed higher on Friday, rounding off the month with gains in a still uncertain trade environment as investors assessed the latest developments in U.S. President Donald Trump’s tariff plan. The continent-wide STOXX 600 index ended 0.1%higher, brushing off a temporary reinstatement of the most …
European shares end May higher as trade uncertainty persists Read More »
(Reuters) -British equities ended higher on Friday, but trimmed initial gains after U.S. President Donald Trump accused China of violating a tariff agreement, while investors assessed U.S. consumer spending data. “China, perhaps not surprisingly to some, HAS TOTALLY VIOLATED ITS AGREEMENT WITH US. So much for being Mr. NICE GUY!,” Trump said on his Truth …
London stocks gain despite lingering US tariff uncertainty Read More »
