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By Mathieu Rosemain PARIS (Reuters) – Slawomir Krupa has one clear mission when he takes over at Societe Generale on Tuesday: remake France’s third-largest lender as a top-tier bank with a distinct identity. The 48-year-old, who has spent his whole career at SocGen, must perform a tricky balancing act, improving returns for shareholders without taking …

Krupa, hard-driving veteran entrusted with reviving Societe Generale Read More »

By Alexandra Schwarz-Goerlich and John O’Donnell VIENNA/FRANKFURT (Reuters) – Raiffeisen Bank International (RBI) is stepping up moves to hand its money-spinning Russian arm to shareholders, three people familiar with the matter said, amid mounting pressure to cut its ties to Moscow. Austria’s second-largest bank is making preparations for a spin-off after months of unsuccessfully trying …

Austria’s Raiffeisen attempts last-ditch Russian spin-off -sources Read More »

By Nupur Anand and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co is beefing up its commercial banking business that caters to tech startups and other early-stage companies, the company said on Monday. The largest U.S. lender plans to add staff after it hired more than a hundred bankers this year to serve …

JPMorgan commercial bank expands startup focus with new hires Read More »

By Saeed Azhar and Shreyashi Sanyal NEW YORK (Reuters) – Wall Street finished mixed on Monday, with the Nasdaq helped by gains in Alphabet and Meta Platforms, while the S&P 500 ended near flat as investors refrained from big bets ahead of a fresh round of talks about raising the U.S. debt ceiling. U.S. President …

Wall Street ends mixed as investors await debt ceiling talks Read More »

(Reuters) – The U.S. Transportation Department (USDOT) said on Monday it had fined LATAM Airlines Group SA $1 million after the airline and several affiliates routinely failed to provide timely refunds to passengers for U.S. flights. The department said since March 1, 2020, it received over 750 complaints alleging LATAM failed to provide timely refunds …

U.S. fines LATAM Airlines $1 million over delayed ticket refunds Read More »

By Andrea Shalal and David Lawder WASHINGTON (Reuters) – The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, leaving just 10 days for White House negotiators and congressional Republicans to reach a deal. In her third letter to …

Treasury confirms U.S. default as early as June 1 without debt ceiling hike Read More »

By Dawn Chmielewski LOS ANGELES (Reuters) – Writer Kyra Jones knew she would be taking a financial hit when she agreed to join the writers’ room for the Hulu comedy series “Woke.” The first payment she received for her share of the show’s digital rentals was a mere $4, before taxes, barely enough to buy …

Striking Hollywood writers lament residuals slide Read More »

(Reuters) -Zoom Video Communications Inc on Monday raised its full-year forecasts for revenue and profit as hybrid work trends sustain demand for the firm’s video-conferencing services, sending its shares up nearly 5% in extended trading. Zoom became a household name during lockdowns as companies and people turned to the platform to stay connected. Now, it …

Zoom lifts annual results forecasts on hybrid work boost Read More »

By Sabrina Valle HOUSTON (Reuters) -Chevron Corp said on Monday it is increasing its U.S. oil and gas footprint by acquiring shale producer PDC Energy Inc in a stock-and-debt transaction worth $7.6 billion. For Chevron, the second-largest U.S. oil firm, the deal will increase its production, capital expenditures and cash flow in the United States …

Chevron to boost U.S. presence with $7.6 billion PDC Energy buy Read More »