(Reuters) -Troubled Australian wealth manager AMP Ltd will pay a court-mandated penalty of A$24 million ($16.3 million) for billing dead clients for insurance and financial advice, effectively drawing the curtains to a scandalous saga dating back to 2018. The allegations first came to light when a public inquiry exposed systemic wrongdoing at the company, including…
By Anirban Sen NEW YORK (Reuters) -Lazard Ltd CEO Ken Jacobs is expected to step down from his role and hand the reins to Peter Orszag, who currently runs the investment bank’s financial advisory unit, a person familiar with the matter said on Thursday. Jacobs’ decision to step down comes after Lazard reported a loss…
By Katya Golubkova HIROSHIMA, Japan (Reuters) – European Council President Charles Michel said on Friday it was in the EU’s interest to maintain “stable and constructive” cooperation with China, as the Group of Seven countries met to consider China’s “economic coercion” and other concerns. G7 leaders, gathering in the Japanese city of Hiroshima from Friday,…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares nudged lower on Friday, weighed down by China and Hong Kong stocks due to concerns over the stuttering recovery in the world’s second-biggest economy, although Japan’s Nikkei clocked a near 33-year peak. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.20% but was set to eke…
By Hyonhee Shin SEOUL (Reuters) – North Korea accused the U.S. and South Korea of ramping up “nuclear blackmail” with joint military drills, pledging to take corresponding action against what it called “warmongers’ madness,” state media KCNA said on Friday. U.S. and South Korean forces have been staging an intensified series of annual springtime exercises…
By John Irish and Sakura Murakami HIROSHIMA, Japan (Reuters) – Japan and France on Friday said they wanted to deepen bilateral cooperation after agreeing earlier this month to accelerate discussions for a joint military exercise framework with Paris hoping to push for reciprocal access agreements. Speaking ahead of a Group of Seven leaders summit in…
WASHINGTON/SEOUL (Reuters) -The U.S. Justice Department is considering suing to block Korean Air’s planned acquisition of Asiana Airlines, Politico reported on Thursday. The U.S. Department of Justice has been investigating the November 2020 deal for roughly two years, and is concerned that it will hurt competition on overlapping routes to the United States, the report…
By Alexandra Valencia QUITO (Reuters) -Ecuador’s Constitutional Court on Thursday paved the way for early legislative and presidential elections, rejecting a series of cases brought by opposition politicians to block President Guillermo Lasso’s decision to dissolve the National Assembly. Members of opposition parties, along with social organizations, had presented six separate cases to the court,…
By Anirban Sen NEW YORK (Reuters) -Lazard Ltd CEO Ken Jacobs is expected to step down from his role and hand the reins to Peter Orszag, who currently runs the investment bank’s financial advisory unit, a person familiar with the matter said on Thursday. Jacobs’ decision to step down comes after Lazard reported a loss…
(Reuters) -Canada’s competition regulator said on Thursday it was suing Cineplex Inc for advertising movie tickets at a lower price than what many consumers actually have to pay. “We’re taking action against Cineplex because misleading tactics like drip pricing only serve to deceive and harm consumers,” said Commissioner of Competition Matthew Boswell. Competition Bureau Canada…
