FRANKFURT (Reuters) – Bayer’s supervisory board has initiated a search for a successor to Chief Executive Werner Baumann, who has said he would not seek a renewal of his contract that expires in 2024, Bloomberg reported on Tuesday. Non-executive Chairman Norbert Winkeljohann is looking into internal and external candidates with the goal of presenting a…
By Jonathan Cable LONDON (Reuters) – The Bank of England looks set to hike borrowing costs by another 50 basis points next week, although it may opt for an even bigger move, a Reuters poll found, adding to the woes of indebted households already facing a cost of living crisis. That is despite some inflation…
(Reuters) -Peloton Interactive Inc co-founders John Foley and Hisao Kushi are stepping down from their executive roles, at a time the troubled exercise bike maker is undergoing massive changes to trim losses and win back investor confidence. “It is time for me to start a new professional chapter,” said Foley, who was replaced earlier this…
By Hadeel Al Sayegh DUBAI (Reuters) – Bank of America (BofA) is moving some of its Russia-based bankers to Dubai, two sources told Reuters, following a move by several Western banks this year to relocate staff in the wake of the Russia-Ukraine war. BofA has moved some of its staff recently and is in the…
ZURICH (Reuters) -UBS Group plans to increase its dividend by 10% and expects 2022 share repurchases to exceed its $5 billion goal, the Swiss bank said, boosting payouts from its strong balance sheet after scrapping a $1.4 billion deal to buy Wealthfront. “UBS will adjust its accrual for the 2022 ordinary dividend from $0.51 to…
(Reuters) -Tonic maker Fevertree reported a fall in profit for the first half of the year despite strong demand in Europe and the U.S., as inflationary pressures and continued exposure to Trans-Atlantic freight costs bit into earnings. The London-based company also said availability of glass will be restricted in the second half the year and…
Asian markets skidded lower on Wednesday after Wall Street fell the most since June 2020 as a report showed inflation has kept a surprisingly strong grip on the U.S. economy. Tokyo’s benchmark Nikkei 225 lost 2.8% in early trading Wednesday, to 27,816.58, while Sydney’s S&P/ASX 200 declined 2.5% to 6,834.80. In Seoul, the Kospi lost…
By Fanny Potkin, Eduardo Baptista and Tony Munroe SINGAPORE/BEIJING (Reuters) – Even as China bars 1.4 billion citizens from Twitter, its local authorities are splurging on global advertising on the site, helping make the country the platform’s fastest-growing overseas ad market and one of its largest non-U.S. revenue sources. A Reuters review of publicly available…
By Stephanie Kelly and Isabel Kua SINGAPORE (Reuters) -Oil prices fell in volatile trade on Tuesday as investor concerns about lower demand in China, the world’s biggest crude importer, and further increases in U.S. and European interest rates offset worries about tight fuel supplies ahead of winter. Brent crude slid 34 cents, or 0.4%, to…
BEIJING (AP) — President Xi Jinping is using his first trip abroad since the start of the pandemic to promote China’s strategic ambitions at a summit with Russia’s Vladimir Putin and other leaders of a Central Asian security group. The Chinese leader is promoting a “Global Security Initiative” announced in April following the formation of…
