JERUSALEM (Reuters) – Benjamin Netanyahu began his best-selling autobiography with the story of a daring Special Forces raid he took part in to free Israeli passengers from a hijacked airliner in 1972, an event that helped shape his hawkish image during more than three decades in politics. It is one of the ironies surrounding Israel’s…
WASHINGTON (Reuters) – The U.S. Federal Reserve announced Monday it had fined UBS Group AG $268.5 million for Credit Suisse’s misconduct around its dealings with the defunct investment firm Archegos Capital Management. The Fed said Credit Suisse, which UBS acquired in June, repeatedly failed to address risk management shortcomings in its dealings with the firm,…
By Julie Zhu, Kane Wu and Selena Li (Reuters) -Beijing has asked law firms to tone down the language used to describe China-related business risks in Chinese companies’ offshore listing documents, warning failure to do so could cost them regulatory green light for the IPOs, three people familiar with the matter said. The move, which…
By Huw Jones LONDON (Reuters) – The Bank of England said on Monday it will check from October whether top banks can be smoothly wound down in a crisis after the forced takeover of Credit Suisse raised questions about the credibility of “resolvability” plans. The BoE said leading banks, such as HSBC, Lloyds, NatWest and…
By Olena Harmash and Tom Balmforth KYIV (Reuters) -Russia destroyed Ukrainian grain warehouses on the Danube River in a drone attack on Monday, targeting a vital export route for Kyiv in an expanding air campaign that Moscow began last week after quitting the Black Sea grain deal. Last week’s attacks mostly struck the sea ports…
By Tim Hepher PARIS (Reuters) – Airbus is contemplating a management shake-up that could restore a de facto separate leader for its planemaking business and free CEO Guillaume Faury to tackle broader strategic priorities, people familiar with the matter said. French-born Faury currently combines the job of running the world’s largest jetmaker, at a time…
By Mrinmay Dey (Reuters) -Lawyers for FTX founder Sam Bankman-Fried rejected prosecutors’ claims that his discussions with a New York Times reporter amounted to witness tampering but agreed to accept a gag order, they said in a letter to the judge in the criminal fraud case. The letter, released on Sunday, came after prosecutors sought…
By Deborah Mary Sophia (Reuters) – Restaurant chains including McDonald’s and Chipotle Mexican Grill are expected to report strong profits in the second half of 2023 as commodity costs finally ease at a time when demand for items including burgers and tacos has remained fairly resilient. U.S. restaurant chains kick off their quarterly earnings this…
(Reuters) -Johnson & Johnson said on Monday it had launched an exchange offer under which its stockholders can opt for shares of Kenvue <KVUE.N>, its newly listed consumer health unit. J&J, which currently owns an 89.6% stake in Kenvue, said it intends to split off at least 80.1% of the consumer health company’s shares as…
By Divya Rajagopal and Melanie Burton TORONTO/SYDNEY – A fall in copper prices is having an outsized impact on small and mid-sized miners, forcing many to cut output, and some are now open to raising funds from new investors to ride out the current downtrend, several company executives told Reuters. Copper is set to play…
