(Reuters) – Russia spent 2 trillion roubles ($26 billion) on defence in January and February alone, a 282% jump on the same period a year ago, data on the budget portal showed, illustrating the spiralling costs for Moscow of its conflict in Ukraine. Rising military production and huge state spending are keeping Russia’s industry buzzing…
(Reuters) -Republic First Bancorp said on Monday it had “adequate” capital and would wait for market conditions to stabilize before rounding out the $125-million fundraise it had announced in March. The lender is seeking more “acceptable” terms for the capital raise and also looking for more participants after securing the backing of alternative asset management…
By Foo Yun Chee BRUSSELS (Reuters) -Microsoft Corp gained EU antitrust approval for its $69 billion acquisition of Activision on Monday, in a significant boost that could prompt Chinese and Korean regulators to follow suit despite a British veto of the deal. The U.S. software giant still faces a battle to clinch a deal. It…
WASHINGTON (Reuters) – The New York Federal Reserve said on Monday its barometer of manufacturing activity in New York State plunged in May, but the survey is extremely volatile, making it harder to interpret. The regional Fed’s “Empire State” index on current business conditions plummeted 42.6 points to -31.8 this month. A reading below zero…
By Dmitry Zhdannikov, Marwa Rashad and Christoph Steitz LONDON/FRANKFURT (Reuters) – German energy firms Sefe and Uniper have awarded some traders millions of dollars in bonuses for 2022, four sources familiar with the matter said, just months after the companies were rescued with multi-billion bailouts as Russia halted gas supplies. Germany has so far provided…
By Maki Shiraki and Makiko Yamazaki TOKYO (Reuters) – Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure, two sources with direct knowledge of the matter said, as a slumping flash memory market puts fresh consolidation pressure on the world’s No. 2 and No. 4 players….
By Scott Murdoch and Himanshi Akhand (Reuters) -Australia’s InvoCare Ltd shares jumped nearly 12% on Monday after it revealed a higher A$1.86 billion ($1.26 billion) offer from global private equity firm TPG had been tabled just weeks after it rejected a lower bid it said undervalued the funeral services provider. Shares of InvoCare rose to…
OTTAWA (Reuters) – Automaker Stellantis has stopped all construction at a more-than C$5 billion ($3.74 billion) electric vehicles battery manufacturing plan in Windsor, Canada over a disagreement with the federal government about subsidies, a spokesperson for the company said on Monday. “As of today, the Canadian Government has not delivered on what was agreed to…
WASHINGTON (Reuters) – XCast Labs, a company accused of helping make billions of illegal robocalls, was sued on Friday by the U.S. Federal Trade Commission, which asked the court to order the company to stop the practice. XCast, a Voice over Internet Protocol (VoIP) provider, is accused of helping other companies, at least one of…
By David Shepardson WASHINGTON (Reuters) – A group of U.S. Tesla Model S and Model X owners filed a proposed class-action lawsuit against the electric vehicle maker in California Friday over automatic software updates that reportedly decreased driving range or cause battery failures. The lawsuit claims Tesla’s updates and their effects violate state and federal…
