By Foo Yun Chee BRUSSELS (Reuters) – EU antitrust regulators confirmed on Friday that they would not appeal a court ruling scrapping its 997 million euro ($1 billion) fine against Qualcomm, drawing a line under a long-running saga. Reuters reported last month that the European Commission would not appeal the General Court’s June judgment because…
By Julie Gordon OTTAWA (Reuters) – Canada’s economy shed jobs for the third straight month in August and the jobless rate unexpectedly jumped to 5.4%, Statistics Canada data showed on Friday. The economy lost a net 39,700 jobs in August, missing analyst forecasts it would add 15,000. The jobless rate was also worse-than-expected, analysts having…
By Nupur Anand MUMBAI (Reuters) – Indian lender Yes Bank is likely to approve the transfer of stressed assets worth 480 billion rupees ($6 billion) to private equity firm J.C. Flowers at its next board meeting, said a source with direct knowledge. A rival consortium led by private equity firm Cerberus and Asset Reconstruction Company…
(Reuters) – Germany does not currently have to make alternative investments after the European Central Bank decided to temporarily pay interest on government deposits, a finance agency spokesperson told Reuters. The ECB said on Thursday it would pay interest on governments’ cash deposits until April 2023, temporarily removing a 0% cap after it hiked rates….
BERLIN (AP) — German gas importer VNG is seeking help from the government after cuts to Russian gas supplies forced it to buy gas at far higher prices on the market to fulfill its supply contracts. Energy company EnBW, which has a majority stake in VNG, said Friday that its subsidiary was submitting an application…
BRUSSELS (AP) — European Union nations struggled to find full consensus Friday on ways to shield the population from dramatically increasing energy prices that threaten to plunge millions into cold and poverty over the winter as Russia chokes off natural gas supplies. As tensions with Moscow mount over the war in Ukraine, the energy ministers…
(Reuters) -The European Central Bank must keep raising interest rates, prioritising its fight over painfully high inflation, even if that comes at a cost to growth, European Central Bank policymakers said on Friday. The ECB raised rates by an unprecedented 75 basis points on Thursday just weeks after a 50 basis point move and promised…
BERLIN (Reuters) -Porsche said on Friday it and Red Bull were terminating talks about the possibility of Porsche’s entry into Formula One. “The two companies have now jointly come to the conclusion that these talks will no longer be continued,” Porsche AG said in a statement. Volkswagen’s former chief Herbert Diess said in May that…
SINGAPORE (Reuters) – Bitcoin surged past the $20,000 barrier and was eyeing its best day in six weeks on Friday as the U.S. dollar fell broadly and markets found reasons to be cheerful at the end of a dour week. Bitcoin, the biggest cryptocurrency by market value, rose more than 7% to $20,796, a two-week…
By Kantaro Komiya and Tetsushi Kajimoto TOKYO (Reuters) -Bank of Japan Governor Haruhiko Kuroda said rapid yen moves were undesirable after a meeting with Prime Minister Fumio Kishida on Friday, joining a chorus of policymakers lobbing verbal warnings over the currency’s recent sharp drop to 24-year lows. “Sharp currency moves are undesirable as they destabilise…
