MADRID (Reuters) -Luis Gallego, the chief executive of British Airways’ parent IAG, said on Wednesday a deal over the protracted acquisition of Spanish low-cost airline Air Europa may take at least 18 months. “We have to decide on a calendar to take 100%, but I think it would take minimum 18 months,” Gallego said during…
By Brenna Hughes Neghaiwi ZURICH (Reuters) – UBS shareholders on Wednesday approved the bank’s climate roadmap, after its first-ever such vote faced pushback from several investors and climate campaigners as not going far enough. In all 77.74% of shareholder votes backed Switzerland’s biggest bank’s climate proposal — presented to investors as their first “Say-on-Climate” —…
(Reuters) – Russian stock indexes returned to gains after a short-lived slide in early trade on Wednesday, shrugging off threats of new western sanctions in response to what Moscow calls “a special military operation” in Ukraine, while the rouble stabilised. Equities largely lost ground at the opening on reports that the United States and its…
NEW DELHI (Reuters) – India’s VerSe Innovation has raised $805 million in a funding round led by Canada’s top pension fund, putting a $5 billion valuation on the Google-backed parent of short-video app Josh and news aggregator Dailyhunt. The funding round saw participation from firms including Canada Pension Plan Investment Board, Ontario Teachers’ Pension Plan…
By Yuka Obayashi TOKYO (Reuters) -Oil futures rose on Wednesday, paring early losses, as the threat of new sanctions on Russia raised supply concerns, countering fears of weaker demand following a build in U.S. crude stockpiles and Shanghai’s extended lockdown. Brent crude futures were up 49 cents, or 0.5%, at $107.13 a barrel as of…
BENGALURU (Reuters) -Indian digital payments firm Paytm said on Wednesday it is aiming to be operationally profitable by September next year, seeking to allay doubts about its business model that has clouded the stock. Backed by China’s Ant Group and Japan’s SoftBank Group Corp (9984.T), Paytm raised $2.5 billion in India’s biggest initial public offer…
BANGKOK (AP) — Asian shares tracked a retreat on Wall Street after details from last month’s Federal Reserve meeting showed the central bank plans to be aggressive in fighting inflation. The Fed comments added to investor unease over the war in Ukraine, coronavirus outbreaks in China and persistent high inflation. Benchmarks fell Thursday in all…
BENGALURU (Reuters) -Indian digital payments firm Paytm said on Wednesday it would be able to breakeven for a key measure of profitability by September next year, boosting its shares, which have struggled so far due to doubts over its business model. The company’s stock, which has lost more than 70% from its IPO price of…
BANGKOK (AP) — An order by Myanmar’s central bank that all foreign currency in bank accounts must be converted into the local currency has many in the military-ruled country worried over potential losses. Businesses and individuals were told in a notice issued Sunday that as of Monday they must convert dollars and other foreign currency…
MEMPHIS, Tenn. (AP) — Shipping giant FedEx Corp. said its logistics subsidiary has opened a new global headquarters in downtown Memphis, Tennessee. FedEx Logistics held an event Tuesday to mark the opening of its offices in the former Gibson guitar factory, just steps from historic Beale Street and the FedExForum sports and concert venue in…
