NEW YORK (AP) — Bank of America’s profits fell by 8% in the third quarter as the bank set aside cash to cover potential loan losses. It’s the latest bank to start socking away money for a potential recession, as Wall Street’s biggest banks have become increasingly gloomy on the U.S. economy going into the…
BRUSSELS (AP) — The European Union on Monday approved a military training mission in Europe for thousands of Ukrainian troops and a plan to provide around 500 million euros ($486 million) in extra funds to help buy weapons for the war-torn country. The mission, which will have a headquarters in Brussels and be under the…
The rapper formerly known as Kanye West is offering to buy right-wing friendly social network Parler shortly after getting locked out of Twitter and Instagram for antisemitic posts. The acquisition of Parler would give West, legally known as Ye, control of a social media platform and a new outlet for his opinions with no gatekeeper….
(Reuters) – Continental Resources Inc said on Monday it had agreed to be taken private by billionaire-founder Harold Hamm in a deal that would value the U.S. shale producer at about $27 billion. Hamm, a legendary oilman who once called the Organization of the Petroleum Exporting Countries a “toothless tiger”, is offering $74.28 per share…
By John Revill ZURICH (Reuters) -Credit Suisse has agreed to pay $495 million to settle a case related to mortgage-linked investments in the United States, the latest pay-out related to past blunders that have battered the Swiss bank’s reputation. The lender has been paying out billions of dollars to resolve legal cases linked to its…
PRAGUE (Reuters) – Skoda Auto, the Czech unit of Volkswagen, expects its parent group could make a decision on the location of a planned large battery factory in eastern Europe by the end of the year, Skoda’s Chief Executive Klaus Zellmer said on Monday. “If we get everything right, we might see the first firm…
LONDON (AP) — The U.K.’s new Treasury chief ripped up the government’s economic plan on Monday, dramatically reversing most of the tax cuts and spending plans that new Prime Minister Liz Truss announced less than a month ago. The move raises more questions about how long the beleaguered British leader can stay in office, though…
LONDON (Reuters) -Vodafone and Altice launched a joint venture on Monday to challenge Deutsche Telekom by building a 7 billion euro ($6.8 billion) fibre broadband network in Germany. Vodafone said the FibreCo venture would build a “fibre-to-the-home” broadband network available to 7 million German homes, allowing Britain-based Vodafone to upgrade its existing network in Germany,…
By Mohi Narayan and Florence Tan (Reuters) -Oil prices rose on Monday after China rolled over liquidity measures to help its pandemic-hit economy, igniting hopes for a better fuel demand outlook from the world’s top crude importer. Brent crude futures rose 81 cents, or 0.88%, to $92.44 a barrel by 0642 GMT, recovering from a…
BEIJING (AP) — China plans to boost coal production through 2025 to avoid a repeat of last year’s power shortages, an official said Monday, adding to setbacks in efforts to cut climate-changing carbon emissions from the biggest global source. China is a big investor in wind and solar, but jittery Communist Party leaders called for…
