ISTANBUL (AP) — Turkey’s central bank kept its main interest rate unchanged for a fifth month running on Thursday despite an annual inflation rate of nearly 70%. The bank said it would keep its policy rate “constant” at 14%, arguing inflation was driven by geopolitical developments and the “temporary effects of pricing formations.” The bank…
NEW YORK (AP) — CEO pay is a tricky thing to explain. Within the eight- and even nine-figure sums trumpeted for CEOs each year, just a small portion is actual cash. Last year, only a little more than a quarter of compensation for the typical CEO at an S&P 500 company came from cash salary…
NEW YORK (AP) — Even when regular workers win their biggest raises in decades, they look minuscule compared with what CEOs are getting. The typical compensation package for chief executives who run S&P 500 companies soared 17.1% last year, to a median $14.5 million, according to data analyzed for The Associated Press by Equilar. The…
(Reuters) -Broadcom Inc said on Thursday it will acquire cloud computing company VMware Inc in a $61 billion cash-and-stock deal, the chipmaker’s biggest and boldest bid to diversify its business into enterprise software. The acquisition is the second biggest announced globally so far this year, trailing only Microsoft Corp’s $68.7 billion deal to buy video…
LONDON (AP) — Britain’s Conservative government unveiled a 15 billion pound ($19 billion) emergency aid package Thursday to ease a severe cost-of-living squeeze, announcing the plan a day after Prime Minister Boris Johnson vowed to “move on” from a months-long scandal over government parties during COVID-19 lockdowns. Treasury chief Rishi Sunak said the government would…
TOKYO (AP) — Troubled Japanese technology giant Toshiba announced some additions to its proposed leadership Thursday, ahead of a shareholders’ meeting next month. Toshiba Corp. said it seeks to add on the board outside directors, such as Nabeel Bhanji, an executive at Elliott Opportunity II Corp., which handles acquisitions and investments, and Eijiro Imai, a…
By Nichola Saminather TORONTO (Reuters) -Royal Bank of Canada, Toronto-Dominion Bank and Canadian Imperial Bank of Commerce (CIBC) reported diverging second-quarter performances on Thursday with the former two comfortably beating expectations while the latter missed, all driven largely by provisions for credit losses (PCLs). Royal Bank, Canada’s largest lender, reported higher profit in the three…
By Samuel Indyk LONDON (Reuters) – The U.S. dollar edged back towards a one-month low on Thursday, as minutes from the Federal Reserve’s May meeting contained few surprises, with most participants favouring additional 50 basis point rate hikes at the June and July meetings. The dollar index, which measures the currency against six major peers,…
LONDON (Reuters) – Overseas holders of a Russian sovereign bond that matured last month are seeking a ruling on whether $1.9 million in interest arrears constituted a “credit event” that might allow them to eventually collect a payout on default insurance. The EMEA Credit Derivatives Determinations Committee (CDDC) said on its that holders of the…
(Reuters) – Britain’s competition regulator on Thursday launched its second probe into the advertising practices of Google, saying the Alphabet-owned search giant could be distorting competition and may have illegally favoured its own services. The Competition and Markets Authority’s (CMA) latest probe follows its into Google and Facebook owner-Meta’s “Jedi Blue” agreement earlier this year….
