By Lewis Jackson SYDNEY (Reuters) – PricewaterhouseCoopers (PwC) Australia is under fire after a former partner leaked confidential government tax plans between 2014 and 2017 which were then used to drum up work with multinational companies hoping to sidestep new rules. Acting Chief Executive Kristin Stubbins told state parliament on Monday there would be “severe”…
(This June 23 story has been corrected to say analysts had suggested cases in California, not only the Goetz case, would have cost GSK ‘low hundreds of millions’ of dollars to settle, in paragraph 13) By Natalie Grover and Eva Mathews (Reuters) – GSK agreed to settle a U.S. lawsuit alleging its discontinued heartburn drug…
FRANKFURT (Reuters) – High interest rates will keep a lid on the pace of bank lending in Europe this year and next, with a particular slowdown in growth in Germany as demand for loans tails off, according to a study by consulting firm EY. Lending to businesses and households in the 20-nation euro zone will…
By Nick Carey, Paul Lienert and Victoria Waldersee LONDON (Reuters) – Global automakers have touted plans to re-use electric vehicle (EV) batteries when they lose power, but competition for battery packs and cell materials, and the appetite for affordable cars cast doubt on this part of the circular economy. An array of startups offers second-life…
By Danilo Masoni and Lucy Raitano MILAN (Reuters) – The rapid adoption of generative artificial intelligence has boosted markets this year, but after the initial euphoria, investors are waking up to the possible risks, including the need to be highly selective in stock-picking. Businesses ranging from IT services and consulting to media, information and education…
(Reuters) -The U.S. Coast Guard is investigating the cause of the undersea implosion of a tourist submersible that killed all five people aboard while diving to the century-old wreck of the Titanic, officials said on Sunday. The announcement comes a day after Canada’s Transportation Safety Board said it was conducting its own investigation into the…
By Sinead Cruise and Carolina Mandl LONDON/NEW YORK (Reuters) – Deutsche Bank has told clients it can no longer guarantee full access to Russian stocks that belong to them, underlining the challenges global investors face to recover stranded investments in the country’s companies. Germany’s largest bank said in a note dated June 9 and viewed…
(Reuters) -It’s been a turbulent week or two for markets, with one central bank after another making it very clear the only way for rates right now is up as inflation tightens its grip on the global economy. Investors will get a look at the state of China’s manufacturing juggernaut, as well as the Federal…
By Rae Wee SINGAPORE (Reuters) – The dollar was on the back foot on Monday, though it found some safe haven support on lingering worries that the protracted monetary tightening cycles from major central banks would further hurt the global economic outlook. Dramatic weekend events in Russia also kept investors on guard, though reaction in…
By Renee Maltezou and Angeliki Koutantou ATHENS (Reuters) -Greece’s conservative New Democracy party stormed to victory in a parliamentary election on Sunday with voters giving reformist Kyriakos Mitsotakis another four-year term as prime minister. With most votes counted, centre-right New Democracy was leading with 40.5% of the vote and 158 seats in the 300-seat parliament,…
