NEW YORK (AP) — A former top banker at Goldman Sachs testified Wednesday that he and other corrupt executives at the firm built a “house of cards” that was doomed to fall to try to conceal an audacious scheme to ransack a Malaysian state investment fund. In his first day on the witness stand at…
WASHINGTON (Reuters) – U.S. import prices increased by the most in nearly 11 years in January amid a jump the cost of energy products and strained supply chains, the latest indication that high inflation could persist for a while. Import prices increased 2.0% last month, the largest rise since April 2011, after declining 0.4% in…
By David Gaffen NEW YORK (Reuters) -Oil prices rallied more than 2% on Wednesday, resuming its upward path as investors weighed conflicting statements on the possible withdrawal of some Russian troops from around Ukraine. Russia’s threatening posture has dominated oil markets for several weeks, with concerns that supply disruptions from the major producer in a…
BILLINGS, Mont. (AP) — Former U.S. Interior Secretary Ryan Zinke misused his position to advance a commercial development project that included a microbrewery in his Montana hometown and lied to an agency ethics official about his involvement, federal investigators said Wednesday. The investigation by the Interior Department’s inspector general found that Zinke continued work on…
By Valentina Za MILAN (Reuters) -The chairman of Italy’s biggest insurer Generali plans to step down in April after 11 years in the job, saying that current tensions among investors were a source of regret. Gabriele Galateri di Genola told the board he would continue as chairman only until a shareholder meeting when investors are…
PARIS (Reuters) – Carrefour said on Wednesday it was confident about its turnaround after Europe’s largest food retailer delivered record free cash flow of 1.23 billion euros ($1.40 billion) and a 7.7% rise in operating profit for 2021. On the back of these strong results Carrefour handed investors an 8% dividend hike to 0.52 euros…
By Luc Cohen and Jody Godoy NEW YORK (Reuters) -A former Goldman Sachs partner began testifying against his former colleague on Wednesday in a trial over the looting of hundreds of millions of dollars from Malaysia’s 1MDB sovereign wealth fund, one of the biggest scandals in Wall Street history. Prosecutors called Tim Leissner, the former…
By Deborah Mary Sophia and Mehr Bedi (Reuters) -Kraft Heinz Co said on Wednesday it would raise the prices of its snacks and condiments further to counter soaring costs of raw materials and transportation, after posting quarterly earnings above market expectations. Shares of the Chicago-based company rose as much as about 6% in morning trading….
(Reuters) -SoftBank Group Corp is asking banks vying to be part of a potential listing of Arm Ltd to underwrite a margin loan of about $8 billion, Bloomberg News reported on Wednesday, citing people familiar with the matter. Earlier this month, SoftBank sought to list Arm after scrapping plans to sell the company to U.S….
By Helen Reid and Arunima Kumar (Reuters) – Barrick Gold Corp on Wednesday announced a share buyback of up to $1 billion as the gold miner’s fourth-quarter results beat analysts’ estimates thanks to a lower than expected tax quarter and strong production at its Nevada mines. Barrick’s U.S.-listed shares rose around 5% at the open….
