(Reuters) -Accounting firm EY has called off a plan to break up its audit and consulting units, slamming the brakes on a proposed overhaul of its businesses that was meant to address regulatory concerns over potential conflicts of interest. The company, which is one of the Big Four accounting giants, announced its plans for a…
(Reuters) -Accounting firm EY has called off the plan to break up its audit and consulting businesses, the Financial Times reported on Tuesday, citing people with knowledge of the matter. The decision will be communicated to partners in a note on Tuesday, the report said. EY did not immediately respond to a Reuters request for…
By David Lawder WASHINGTON (Reuters) – The International Monetary Fund on Tuesday trimmed its 2023 global growth outlook slightly as higher interest rates cool activity but warned that a severe flare-up of financial system turmoil could slash output to near recessionary levels. The IMF said in its latest World Economic Outlook report that banking system…
By Gabriel Araujo RIO DE JANEIRO (Reuters) – Brazilian planemaker Embraer SA aims to sign a deal for the sale of 20 commercial jets to a Chinese airline during President Luiz Inacio Lula da Silva’s visit to China this week, two people familiar with the matter told Reuters on Tuesday. The deal would mark a…
By Hannah Lang (Reuters) – The International Monetary Fund warned on Tuesday of a “perilous combination of vulnerabilities” in financial markets, saying participants’ failing to adequately prepare for interest rate increases has led to significant uncertainty about the health of the financial system. Moreover, the global lender said U.S. regional banks in particular may warrant…
(Reuters) – Wall Street’s main indexes were subdued at the open on Tuesday as investors kept an eye out for inflation data that could determine the U.S. Federal Reserve’s next policy moves. The Dow Jones Industrial Average rose 0.23 point at the open to 33,586.75. The S&P 500 opened higher by 1.18 points, or 0.03%,…
(Reuters) – Utilities firm Dominion Energy Inc will buy Longroad Energy’s 108 megawatt solar project in Virginia, the U.S.-based renewable energy developer said on Tuesday. The solar project, called Foxhound, has been in development for six years and will produce enough clean energy to power more than 17,000 homes, Longroad said in a press release….
BENGALURU (Reuters) – Indian private lender HDFC Bank Ltd said on Tuesday it would consider raising debt of 500 billion rupees (about $6 billion) over the next one year. The bank will discuss the fund raise at its board meeting on Saturday, when it is also due to report earnings for the January-March quarter. The…
By Melanie Burton MELBOURNE (Reuters) -Newmont Corp laid down a best and final offer for Australia’s Newcrest Mining Ltd on Tuesday at A$29.4 billion ($19.5 billion) to close a deal that would extend Newmont’s lead as the world’s biggest gold producer. If successful, the deal would lift Newmont’s gold output to nearly double its nearest…
ROME (Reuters) – Italian supercar maker Ferrari said on Tuesday it had signed a deal with Samsung Display to use its organic light-emitting diode (OLED) display panels in future car models. The South Korean company will develop “bespoke OLED technology display solutions” for the next generation of Ferraris, Chief Executive Benedetto Vigna said in a…
