By Silvia Aloisi PARIS (Reuters) -Alibaba Group will make Europe top priority as it focuses on building local businesses and online platforms outside China, the president of the e-commerce giant said on Thursday. “What we will focus more for the future is to build local businesses, so you will see something called TMall which we…
By Magali Druscovich and Sheila Dang (Reuters) – To make sense of the unprecedented events of Jan. 6, 2021, Vitus “V” Spehar did what no traditional journalist would do – crawl under a desk and begin recording a video for TikTok. Like others who watched on TV as the storming of the U.S. Capitol unfolded,…
By Saeed Azhar, Lananh Nguyen and Tatiana Bautzer NEW YORK (Reuters) – Goldman Sachs Group Inc’s managing directors were invited to meetings this month to receive an ominous message: take even more painful steps to cut costs, according to four sources familiar with the situation. Belt-tightening on the agenda for meetings of Goldman’s top executives…
By Hyonhee Shin SEOUL (Reuters) -Several thousand South Korean and U.S. troops took part in joint live-fire exercises on Thursday, in a show of force after North Korea’s failed attempt last month to launch a spy satellite ratcheted up tensions in the region. The drills, overseen by South Korean President Yoon Suk Yeol, are also…
By David Lawder MANDEVILLE, Jamaica (Reuters) -World Bank President Ajay Banga wants to focus on improving the development lender so that he can earn the right to press member countries for more capital, as the new chief looks to expand its role in fighting climate change, pandemics and other crises. Banga said in an interview…
By David Lawder MANDEVILLE, Jamaica (Reuters) -World Bank President Ajay Banga wants to focus on improving the development lender so that he can earn the right to press member countries for more capital, as the new chief looks to expand its role in fighting climate change, pandemics and other crises. Banga said in an interview…
(Reuters) – Odey Asset Management (OAM) is fighting for survival after a media report alleging sexual misconduct by its founder Crispin Odey, one of Britain’s best-known hedge fund managers, prompted its banks and investors sever ties with the firm. OAM said in a letter dated Thursday, and seen by Reuters, that it is in “advanced…
FRANKFURT (Reuters) – The European Central Bank revised up its inflation projections for the next three years on Thursday and said it expected price growth to stay above its 2% target until the end of 2025. It raised its 2023 and 2024 projections for inflation excluding volatile energy and food, which the ECB watches closely,…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Thursday his country’s economy will grow at least 2% this year, “maybe even more,” echoing upbeat forecasts from his economic team after a better-than-expected performance in the first quarter. Lula, speaking in an interview with a pool of radios from Goias state,…
AMSTERDAM (Reuters) – Uber said on Thursday it will shut its food delivery business in Italy and exit Israel, where it has not built sufficient market share. The moves were “in line with our efforts to focus on markets where we have opportunities for sustainable growth”, a company spokesperson said. CEO Dara Khosrowshahi has said…
