By Foo Yun Chee BRUSSELS (Reuters) – Microsoft Corp has offered remedies in an attempt to gain EU antitrust approval for its $69 billion acquisition of Activision, a European Commission filing showed on Friday. The EU competition enforcer, which did not provide details in line with its policy, will now seek feedback from rivals and…
By Balazs Koranyi, Pete Schroeder and Tom Westbrook (Reuters) – European Central Bank supervisors met to tackle growing cracks in the banking system on Friday after a $30 billion lifeline for U.S. lender First Republic Bank eased fears of its imminent collapse. Large U.S. banks on Thursday swooped in to rescue the San Francisco-based bank,…
ZURICH (Reuters) – Credit Suisse shares traded 1.8% higher on the Swiss stock exchange on Friday before the highly volatile stock later gave back some of its gains. The stock, which plunged to 1.55 Swiss francs on Wednesday, rose to 2.087 francs from Thursday’s closing price of 2.022 francs. It later gave back the gains…
By Florence Tan and Trixie Sher Li Yap SINGAPORE (Reuters) – Oil prices firmed on Friday after a meeting between Saudi Arabia and Russia calmed markets amid strong China demand expectations, but were headed for their biggest weekly falls since December as a banking crisis rocked global financial and oil markets. Brent crude futures firmed…
By Pete Schroeder, Tom Westbrook and Scott Murdoch (Reuters) – A $30 billion lifeline for First Republic Bank hosed down market fears about an imminent banking collapse on Friday, but a late tumble in the troubled U.S. lender’s shares showed investors were still worried about cracks in the sector. Large U.S. banks injected the funds…
By Tatiana Bautzer NEW YORK (Reuters) – Former JPMorgan Chase & Co. executive Jes Staley is expected to be deposed next Thursday and Friday about his relationship with Jeffrey Epstein and what he knew about his former client’s activities related to sex-trafficking. Lawyers for the bank said during a hearing on Thursday they would depose…
SYDNEY (Reuters) -New Zealand will ban TikTok on devices with access to the parliamentary network because of cybersecurity concerns, a government official said on Friday. TikTok will be banned on all devices with access to New Zealand’s parliamentary network by the end of March, said Parliamentary Service Chief Executive Rafael Gonzalez-Montero. TikTok has come under…
(Reuters) – Amgen Inc said on Thursday it would cut 450 jobs, or less than 2% of its workforce, making it the company’s second round of layoffs this year amid intensifying pressure on drug prices and high inflation. “We made these changes to realign our expense base in the face of intensifying pressure on drug…
By Lisa Baertlein and Kannaki Deka (Reuters) -FedEx Corp on Thursday raised its fiscal 2023 profit forecast despite weak market conditions, citing progress on its plan to shave $3.7 billion in costs from its global delivery business, sending its shares up more than 11%. The Memphis, Tennessee-based company also posted a higher-than-expected quarterly profit despite…
PANAMA CITY (Reuters) – Panama’s risk of contagion from banking woes in the United States and Europe is “very limited”, an official with banking regulator SBP said on Thursday, adding that local lenders have no exposure from interbank deposits or other investments. “We can count on a very solid banking system,” Amauri Castillo, an SBP…
