By Iain Withers and Saqib Iqbal Ahmed LONDON/NEW YORK (Reuters) -British bank Barclays faces an estimated 450 million pound ($592 million) loss and regulatory scrutiny for exceeding a U.S. limit on sales of structured products, some of which have surged in popularity since Russia’s invasion of Ukraine. Barclays also said on Monday that it will…
By John McCrank NEW YORK (Reuters) -The dollar hit a six-year high versus the yen after the Bank of Japan moved to contain rising bond yields, while U.S. Treasury yields soared to new multi-year highs, highlighting a divergence between the BOJ and other major central banks. Treasury 10-year yields vaulted above 2.5% to three-year highs,…
By Kannaki Deka and Joseph White (Reuters) -U.S. new vehicle sales could fall to the lowest first-quarter volume in the past decade as chip shortages and the Ukraine crisis squeeze inventories and rising prices push less affluent buyers out of the market, research firm Cox Automotive said Monday. U.S. car and light truck sales are…
By David Lawder WASHINGTON (Reuters) -The U.S. Treasury on Monday proposed a new mechanism to comply with and enforce a 15% global corporate minimum tax agreed to last year by 136 countries, partly by denying deductions for taxes paid in jurisdictions with lower rates. The new Undertaxed Profits Rule proposed as part of President Joe…
FRANKFURT (Reuters) – Bayer shareholder Union Investment on Monday came out in support of the drugmaker’s chief executive serving out his full term after the CEO came under renewed pressure over the company’s performance. The support of Germany’s Union Investment, which is a top-20 shareholder, for CEO Werner Baumann to see out his contract to…
By Nivedita Balu and Akash Sriram (Reuters) – Tesla Inc will seek investor approval to increase its number of shares to enable a stock split in the form of a dividend, the electric-car maker said on Monday, sending its shares up about 5%. The plan came as the company suspended its Shanghai factory amid COVID-19-related…
WASHINGTON (Reuters) – The U.S. Treasury on Monday proposed a new mechanism to comply with and enforce a 15% global corporate minimum tax agreed last year by 136 countries, partly by denying deductions for taxes paid in jurisdictions with lower rates. The new Undertaxed Profits Rule proposed as part of President Joe Biden’s fiscal 2023…
LONDON (AP) — Tennis great Boris Becker, who is on trial in London accused of failing to hand over his assets after he was declared bankrupt, has told a jury about his struggles with money including payments for an “expensive divorce” and debts when he lost large chunks of his income after retirement. Becker, 54,…
Russia’s leading independent newspaper suspended operations Monday after pressure from Russian authorities, a move that comes less than six months after its editor won the Nobel Peace Prize for his paper’s courageous reporting under difficult circumstances. The paper, Novaya Gazeta, said it will remain closed for the duration of what the newspaper referred to in…
(Corrects to show that Novatek did not respond to requests for comment, not that it declined to comment) By Chen Aizhu, Julie Zhu and Muyu Xu (Reuters) – China’s state-run Sinopec Group has suspended talks for a major petrochemical investment and a gas marketing venture in Russia, sources told Reuters, heeding a government call for…
