FILE PHOTO: Mark Carney the Governor of the Bank of England speaks at the bank’s quarterly Inflation Report Press Conference in London, Britain August 1, 2019. Chris J Ratcliffe/Pool via LONDON () – Britain’s government will not name a successor to Bank of England Governor Mark Carney before a national election due on Dec. 12,
SAN FRANCISCO () – Wall Street pummeled shares of companies including Pinterest (PINS.N), Lyft (LYFT.O), Uber Technologies (UBER.N) and SmileDirectClub SDC.O on Thursday as investors grew more sour on money-losing former startups that went public this year. Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., October 31,
() – Wells Fargo & Co’s (WFC.N) new chief executive, Charlie Scharf, told employees this week he is more hands-on in his early days than at his previous CEO roles in order to tackle the bank’s regulatory and operational problems as staff grilled him about everything from growth targets to his family dog. FILE PHOTO:
NEW DELHI () – Investors could be put off India by Andhra Pradesh state’s difficult relationship with renewable energy companies, Sumant Sinha, chair of Goldman Sachs-backed ReNew Power, said on Thursday. India, the world’s third-largest emitter of greenhouse gases, wants to raise its renewable energy capacity to 500 gigawatts (GW), or 40% of total capacity,
AUSTIN, Texas () – Formula One presented a dramatic overhaul of the sport on Thursday with a new car and regulations aimed at producing closer and cheaper competition from 2021 as well as more exciting and environmentally-friendly racing. FILE PHOTO: Formula One group CEO Chase Carey attends the 89th Geneva International Motor Show in Geneva,
BEIRUT () – Lebanese President Michel Aoun called on Thursday for the formation of a new government of technocrats following the resignation of prime minister Saad al-Hariri amid nationwide protests against a sectarian elite blamed for mishandling the economy. FILE PHOTO: Lebanon’s President Michel Aoun is pictured as he addresses the nation at the Baabda
MILAN () – The board of Cattolica Assicurazioni (CASS.MI) has ousted Chief Executive Alberto Minali citing differences over the company’s structure, strategy, relations with shareholders and the market, the company said on Thursday. It said all of the chief executive’s powers had been transferred to the insurer’s Managing Director Carlo Ferraresi. Minali, a former CFO
WASHINGTON () – Proxy adviser Institutional Shareholder Services Inc on Thursday sued the U.S. Securities and Exchange Commission over guidance aiming to clarify how investors and firms that vote on their behalf should cast their ballots in corporate elections. FILE PHOTO: The U.S. Securities and Exchange Commission logo adorns an office door at the SEC
RIYADH () – Saudi Arabia’s crown prince showed up only briefly this week at the kingdom’s flagship investment forum, which largely drew leaders and firms with strategic interest in the Gulf state and wrapped up with relatively meagre deals and an anticlimactic finale. A Saudi woman uses her phone during the Future Investment Initiative conference
FILE PHOTO: The closed entrance of the Association of Banks in Lebanon in downtown Beirut, Lebanon, October 25, 2019. /Alkis KonstantinidisBEIRUT () – Lebanon’s banking association said on Thursday that banks would reopen on Friday to meet “urgent” needs after being shut for two weeks as an economic crisis and nationwide protests rage, but asked
NEW YORK/KUALA LUMPUR () – The U.S. Justice Department has struck a deal to recoup $1 billion in funds allegedly looted from a Malaysian state investment fund by fugitive financier Jho Low, in a record capture for a U.S. anti-corruption probe. FILE PHOTO: A construction worker talks on the phone in front of a 1Malaysia
AUSTIN, Texas, Oct 31 () – Formula One presented a dramatic overhaul of the sport on Thursday with a new car and regulations aimed at producing closer and cheaper competition from 2021 as well as more exciting and environmentally-friendly racing. The new technical, sporting and financial rules include a budget cap and represent the fruit
MADRID () – Spanish banks could face a rise in legal claims related to consumer lending activities such as revolving credit, adding to risks faced by the financial sector that stem largely from global and European trends, the Bank of Spain said on Thursday. In its semi-annual financial stability report, the central bank said it
MOSCOW () – Russian oil tycoon Mikhail Gutseriyev has offered to buy back a property company and other assets inherited by the state to partially cover the bailout of banks once owned by his family, a document reviewed by showed. FILE PHOTO: Mikhail Gutseriyev, president of oil and gas company RussNeft, attends The Russia Forum
() – Kraft Heinz Co (KHC.O) will spend more on marketing for key brands widely thought to have been neglected after reporting on Thursday that lower costs helped it beat third-quarter profit expectations, sending shares up 13% in midday trading. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new
ABIDJAN, Oct 31 () – The African Development Bank’s board of governors may approve a 125% capital increase to $225 billion on Thursday, Ivory Coast President Alassane Ouattara said. The board is holding an extraordinary meeting to decide whether to approve a seventh boost to the bank’s capital base. The last increase was agreed in
() – Altria Inc took a $4.5 billion hit from its investment in embattled electronic-cigarette maker Juul Labs Inc on Thursday, the latest setback for the startup as a regulatory crackdown on vaping threatens to upend the fast-growing industry. FILE PHOTO: An electronic cigarette device made by JUUL is shown in this picture illustration taken
NEW YORK () – Thomson Corp (TRI.N) (TRI.TO), parent of News, reported higher-than-expected quarterly operating profit on Thursday and said it would raise its dividend payout ratio and buy back more shares. FILE PHOTO: A Thomson logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland January 25,
BEIRUT () – Lebanon’s powerful Iran-backed Hezbollah movement said on Thursday Saad al-Hariri’s resignation as prime minister would waste the time available for reforms that are widely seen as vital to steering the country out of a deep economic crisis. Demonstrators wave Lebanese flags as the pass by Lebanese soldiers during a protest in Beirut,
Oct 31 () – General Motors Co is recalling 638,000 U.S. sport utility vehicles and pickup trucks because a wheel-speed sensor could fail and cause unintended braking, it said Thursday. The recall covers some 2015-2020 Chevrolet Suburban, Tahoe, and Yukon models, and some 2014-2018 Chevrolet Silverado 1500 and GMC Sierra 1500 vehicles. GM said the
LONDON () – Opposition Labour leader Jeremy Corbyn took aim at tax dodgers, dodgy landlords, bad bosses and big polluters on Thursday, launching an election campaign with a promise of “real change” in Britain. Britain’s opposition Labour Party leader Jeremy Corbyn gestures as he leaves after a launch event for the Labour party’s general election
VIENNA () – Germany’s finance watchdog Bafin is likely to decide next week whether to approve Austrian sensor maker AMS’s (AMS.S) (AMS.VI) new takeover offer for Osram (OSRn.DE), three sources familiar with the matter told on Thursday. FILE PHOTO: The logo of German lighting manufacturer Osram is illuminated at the company’s headquarters in Munich, Germany,
() – Kraft Heinz Co (KHC.O) beat analyst expectations for third-quarter profit on Thursday as the packaged food company reined in costs and increased prices in the face of slowing demand for some of its key brands. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new Walmart Super Center
NEW YORK () – Thomson Corp (TRI.N) (TRI.TO), parent of the News agency, reported higher-than-expected quarterly operating profit on Thursday and said it would raise its dividend payout ratio and buy back more shares. FILE PHOTO: A Thomson logo is pictured on a building during the World Economic Forum (WEF) annual meeting in Davos, Switzerland
() – Cigna Corp (CI.N) raised its full-year earnings target on Thursday, after reporting a better-than-expected quarterly profit boosted by its acquisition of pharmacy benefits manager Express Scripts last year. FILE PHOTO: A screen displays the logo fro Cigna Corp. on the floor at the New York Stock Exchange (NYSE) in New York, U.S., July
() – Kraft Heinz Co (KHC.O) beat analyst expectations for third-quarter profit on Thursday as the packaged food company reined in costs and increased prices in the face of slowing demand for some of its key brands. FILE PHOTO: Heinz tomato Ketchup is show on display during a preview of a new Walmart Super Center
FILE PHOTO: The logo and trading information for Lazard Ltd appear on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., April 24, 2019. /Brendan McDermidNEW YORK () – Investment bank Lazard (LAZ.N) reported a 21% drop in third-quarter adjusted net income amid a slowdown in worldwide deal
Oct 31 () – Kraft Heinz Co fell short of Wall Street expectations for quarterly sales on Thursday as the struggling packaged food company battled weak demand in the United States, its biggest market. Net income attributable to the company’s shareholders rose to $899 million, or 74 cents per share, in the third quarter ended
(Adds quote) LONDON, Oct 31 () – The process of appointing the next Bank of England governor is on track, British Prime Minister Boris Johnson’s spokesman said on Thursday. “The process is on track and we will announce in due course ahead of the start of the next governor’s term, which isn’t until 1st of
FILE PHOTO: The Thomson logo is seen on the company building in Times Square, New York, U.S., January 30, 2018. /Andrew KellyNEW YORK () – Thomson Corp (TRI.N) (TRI.TO), parent of the News agency, swung to a net loss in the third quarter, reflecting its stake in Refinitiv, but its revenue and operating profit rose.
