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LONDON (Reuters) -Turkey-based tanker operator Palmali lost on Friday its London lawsuit against the trading arm of Russian oil producer Lukoil over a purported deal to provide oil products. Palmali, controlled by Azerbaijan-born businessman Mubariz Mansimov, first sued Lukoil’s Swiss subsidiary Litasco at the High Court in 2017 and was initially seeking nearly $2 billion. …

Turkey-based Palmali lawsuit against Lukoil’s Litasco dismissed by UK court Read More »

BERLIN (Reuters) -The Swiss government on Friday announced it will appeal a court decision that found the reduction or cancellation of variable bonus payments for former members of failed banking giant Credit Suisse management was unlawful. Credit Suisse collapsed in March 2023 and was taken over by its longstanding rival UBS in an operation orchestrated …

Swiss to appeal decision on Credit Suisse bonus payments Read More »

By Tim Hepher PARIS (Reuters) -Airbus has appointed its top executive in South Asia to be its next head of technology in a shake-up of design and engineering as it studies options for a successor to its best-selling A320neo jetliner, an internal memo showed on Friday. Remi Maillard, currently head of Airbus India and South …

Airbus appoints new technology head in research shake-up Read More »

PARIS (Reuters) – European luxury shares tanked on Friday as U.S. President Donald Trump said he is recommending a straight 50% tariff on goods from the European Union starting on June 1. Europe’s luxury industry, producing handbags, shoes, fashion items and champagne among other prized goods, is highly exposed to the U.S. market, which was …

Trump’s tariffs hit European luxury industry, shares tank  Read More »

ZURICH (Reuters) -Switzerland’s Supreme Court on Friday ruled against a compensation claim by two former shareholders of Credit Suisse who bought stock in the bank shortly before it failed in March 2023, saddling them with hefty losses. The two plaintiffs, a couple, bought shares in the bank just days before Credit Suisse collapsed, the court …

Top Swiss court rejects claim by two former Credit Suisse shareholders Read More »

By Siddhi Mahatole and Sriparna Roy (Reuters) -The U.S. Food and Drug Administration has approved British drugmaker GSK’s asthma drug to treat some patients with a chronic lung disease commonly known as “smoker’s lung”, the company said on Thursday. The approval expands the use of the drug, Nucala, as an add-on treatment for patients with …

GSK’s asthma drug wins FDA approval to treat ‘smoker’s lung’ Read More »

(Reuters) -German drugmaker Bayer on Friday won an endorsement by the European Medicines Agency to extend the intervals between shots of its anti-blindness treatment Eylea, giving it a potential edge over Roche’s rival treatment Vabysmo. Bayer said in a statement the European Medicines Agency recommended that eye drug Eylea, at a high dose of 8 …

Bayer wins EU watchdog’s endorsement for longer Eylea treatment intervals Read More »

(Reuters) – A German consumer rights group on Friday failed to win a court injunction to stop Meta Platforms from training its artificial intelligence models with Facebook and Instagram user posts. The court in the western city of Cologne said it did not grant an injunction sought by state-funded consumer rights group Verbraucherzentrale NRW. Meta …

German rights group fails in bid to stop Meta’s data use for AI Read More »

By Marie Mannes and Nora Eckert STOCKHOLM/DETROIT (Reuters) -Volvo Cars CEO Hakan Samuelsson said on Friday that its customers would have to pay a large part of tariff-related cost increases, and that it could become impossible to import one of its most affordable cars to the United States if levies increase. U.S. President Donald Trump on …

Volvo Cars CEO says its customers must pay for rising tariffs Read More »