(Reuters) – Australia’s AGL Energy said on Monday that it would not proceed with the planned demerger of its operations due to mounting opposition from shareholders, led by its top shareholder Mike Cannon-Brookes. Chairman Peter Botten and chief executive Graeme Hunt will also step down fromt their roles, the company added. (Reporting by Harshita Swaminathan;…
By Eduardo Baptista BEIJING (Reuters) – China’s ‘zero-COVID’ policy of constantly monitoring, testing and isolating its citizens to prevent the spread of the coronavirus has battered much of the country’s economy, but it has created bubbles of growth in the medical, technology and construction sectors. The Chinese government, alone among major countries in vowing to…
By Elvira Pollina MILAN (Reuters) -Telecom Italia (TIM) and state lender CDP have signed off a preliminary agreement on Sunday to combine the phone group’s fixed network assets with those of state-backed rival broadband firm Open Fiber, they said on Sunday. The move aims to pave the way to the creation of a single broadband…
(Reuters) – London-based real estate agent Foxtons Group has decided to appoint rival Chestertons’ CEO Guy Gittins as its new CEO, Sky News reported on Sunday. Gittins will take over from Nic Budden in the face of rising pressure from activist shareholders to sell the company, the newspaper reported https://news.sky.com/story/foxtons-gazumps-london-rival-chestertons-with-raid-on-ceo-gittins-12623917. In March 2022, Converium Capital,…
BERLIN (Reuters) – German carmaker Volkswagen said on Sunday it was taking seriously an investigation by Brazil’s public prosecutors into alleged human rights violations in the country as reported by German media. “We can assure you that we take the possible events at Fazenda Rio Cristalino, to which the investigation by the Brazilian investigating authorities…
BELGRADE, Serbia (AP) — As the war in Ukraine rages, Serbia’s president announced that he has secured an “extremely favorable” natural gas deal with Russia during a telephone conversation Sunday with Russian President Vladimir Putin. Serbian President Aleksandar Vucic has refused to explicitly condemn Russia’s invasion of Ukraine, and his country has not joined Western…
MILAN (Reuters) – Telecom Italia (TIM) and state lender CDP are expected to reach preliminary agreement on Sunday to merge the phone group’s fixed network assets with those of state-backed rival broadband firm Open Fiber, three sources close to the matter said. The move will pave the way for a single broadband network, as TIM…
By Nichola Saminather TORONTO (Reuters) -Canadian banks wrapped up second-quarter earnings season last week, with most reporting better-than-expected profits, in large part by reducing the amounts of funds they set aside for future loan losses, raising questions among investors and analysts about whether they are too sanguine about looming risks. Rising prices and the central…
By Giuseppe Fonte and Valentina Za ROME (Reuters) – Italy is considering tightening a state guarantee scheme designed to help banks shed bad debts while weighing its extension to cushion the hit from the Ukraine war and the pandemic, according to people familiar with the matter. Since its 2016 launch, the ‘GACS’ scheme has helped…
By Giuseppe Fonte and Valentina Za ROME (Reuters) – Italy is considering tightening a state guarantee scheme designed to help banks shed bad debts while weighing its extension to cushion the hit from the Ukraine war and the pandemic, according to people familiar with the matter. Since its 2016 launch, the ‘GACS’ scheme has helped…
