BERLIN (Reuters) – BMW met its 2022 target for significantly higher pretax earnings than in the previous year, Focus Money magazine reported on Sunday, citing the German carmaker’s chief financial officer. “We had no reason to correct the forecasts … Otherwise we wouldn’t be sitting here so relaxed,” CFO Nicolas Peter was quoted as saying…
(Reuters) – Facebook parent Meta Platforms Inc has delayed finalizing the budgets of multiple teams as it prepares a fresh round of job cuts, the Financial Times reported on Saturday. In recent weeks there had been a lack of clarity surrounding budgets and future head count, the FT reported, citing two Meta employees familiar with…
By Arathy Somasekhar FREEPORT, Texas (Reuters) – U.S. energy regulators on Saturday assured Texas residents they are monitoring repairs and the eventual restart of the fire-idled Freeport LNG plant as a vessel this week began taking the first fuel out of its storage tanks in eight months. The second-largest U.S. liquefied natural gas (LNG) export…
ZURICH (Reuters) – Nestle will pay a former manager 2 million Swiss francs ($2.2 million) compensation after a Swiss court upheld her claim of bullying while working at the company, newspaper Tages-Anzeiger reported. Yasmine Motarjemi was awarded the compensation by a court in Vaud, southern Switzerland, the paper said on Saturday, after a 12-year legal…
ROME (Reuters) -The European Central Bank (ECB) must avoid pushing real interest rates too high, given the level of private and public debt in the euro area, a top Italian policymaker said on Saturday. ECB Governing Council member Ignazio Visco, who is also the Bank of Italy’s governor, added he did not believe a recession…
By Nikunj Ohri (Reuters) – The Group of 20 (G20) big economies is exploring whether the group could collectively regulate cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday. Given the sophisticated technologies involved with these virtual assets, countries must discuss whether a given regulation is needed, said Sitharaman, whose country is this year’s G20 president….
SHANGHAI (Reuters) – China on Saturday tightened risk management requirements on banks, requiring them to classify financial-asset risks in a timely and prudent manner, in a bid to better assess lenders’ credit risks. From July 1, banks must classify assets beyond the currently required loans – including bond investment, interbank lending and off-balance-sheet assets –…
By Jane Lanhee Lee, Josh Horwitz and Stephen Nellis OAKLAND, Calif/SHANGHAI (Reuters) – SoftBank Group Corp’s chip technology firm Arm Ltd’s China joint venture laid off 90-95 employees last week to cope with a challenging business outlook this year, according to three sources familiar with the situation. The layoffs come as SoftBank tries to set…
By Brendan O’Boyle (Reuters) – Risks over El Salvador’s embrace of bitcoin “have not materialized,” but use of the cryptocurrency still requires transparency and attention, the International Monetary Fund (IMF) said Friday in a statement after a visit to the Central American country. “Given the legal risks, fiscal fragility and largely speculative nature of crypto…
By David Shepardson WASHINGTON (Reuters) -A group representing major U.S. airlines “strongly urged” the Federal Aviation Administration (FAA) to extend a proposed deadline to June 2024 to retrofit airplane altimeters to ensure they are not susceptible to 5G wireless interference. Airlines for America (A4A), which represents American Airlines, Delta Air Lines, United Airlines and others…
