By John McCrank (Reuters) – The U.S. Securities and Exchange Commission on Wednesday voted to adopt new rules that will require companies that restate their financials due to compliance lapses to claw back excess compensation from their executives. The rule, which Congress mandated following the 2007-2009 financial crisis, was left unfinished in 2015, but was…
Saudi oil and gas company Aramco unveiled a $1.5 billion fund on Wednesday for sustainable investments, part of efforts to burnish the state-owned company’s green credentials in an announcement ahead of the U.N. climate conference next month in Egypt. Aramco CEO Amin Nasser said at an investment conference in Saudi Arabia that the fund will…
By Manya Saini and Simon Jessop LONDON (Reuters) – Royal Bank of Canada on Wednesday released interim 2030 targets to cut carbon emissions linked to some of its loans, yet drew criticism from environmental campaigners for not going far enough. The announcement comes ahead of the next round of global climate talks in Egypt in…
(Reuters) – Shares of Mobileye Global Inc were set to open 20% higher on Wednesday, potentially valuing the self-driving technology unit of Intel Corp at nearly $20 billion after the IPO was priced above the anticipated range. At 10:31 a.m. Eastern Time, the shares were indicated to open at $25.05, up from the initial public…
(Corrects to “Leong” from “Leng” in paragraph 3) (Reuters) -Singapore’s Temasek Holdings said on Wednesday President Tan Chong Lee will resign to take up the role as chief executive officer at its fund management firm 65 Equity Partners. In a slew of management changes announced by the investment giant, Leong Wai Leng will step down…
Boeing reported a surprising $3.3 billion loss for the third quarter Wednesday, as revenue fell short of expectations and it took huge losses for fixed-cost government programs including new Air Force One presidential jets. The company blamed higher manufacturing and supply-chain costs for driving the losses in government programs. CEO David Calhoun said Boeing remains…
LONDON (AP) — U.K. Treasury chief Jeremy Hunt on Wednesday delayed his much-anticipated economic statement until Nov. 17, giving new Prime Minister Rishi Sunak a chance to weigh in on policies meant to stabilize the country’s finances after his predecessor’s tax-cutting plans triggered market upheaval. The statement will now include a full budget and analysis…
A Texas mother of a toddler, scraping by on her husband’s income, was desperate to return to work but struggling to afford child care. A young Florida warehouse worker had barely left behind a turbulent past of homelessness and abuse only to be mired in debt. When both women learned they were pregnant, they came…
By Amruta Khandekar and Shreyashi Sanyal (Reuters) -Futures tied to the tech-heavy Nasdaq index fell nearly 2% on Wednesday as disappointing results and warnings from Microsoft and Alphabet sparked losses in megacap companies and raised fears of slowing economic growth. Microsoft Corp posted its lowest sales growth in five years and forecast second-quarter revenue below…
By Alexander Hübner and Joice Alves BERLIN/LONDON (Reuters) – Shares in Puma fell 1.75% on Wednesday after the company confirmed its full-year guidance but flagged uncertainty in the global market. The German sportswear maker reiterated its full-year operating result and sales outlook, after what it said was the best third quarter in its history. “We…
