By John Revill ZURICH (Reuters) -A Swiss proxy adviser representing some former Credit Suisse shareholders has backed a class-action lawsuit seeking a better price from UBS for its takeover of its cross-town rival, it said on Tuesday. Ethos Foundation, which represents a Swiss pension funds that owned more than 3% of Credit Suisse, “has decided…
By Kevin Yao BEIJING (Reuters) – China’s appointment of financial technocrat Pan Gongsheng to a top political post at the central bank points to growing concerns within the country’s leadership over systemic risks in its sprawling financial sector, policy insiders and analysts said. Pan, who came to prominence fighting capital outflows, will be in position…
By Steve Gorman and Gabriella Borter LOS ANGELES (Reuters) -Thousands of Los Angeles-area hotel workers went on strike on Sunday demanding pay hikes and improved benefits in a region where high housing costs make it difficult for low-wage earners to live close to where they hold jobs, union officials said. Unite Here Local 11, which…
DUBLIN (Reuters) – Ryanair (RYA.I) flew a record 17.4 million passengers in June, its highest for a single month and a 9% increase from a year earlier, the low-cost carrier said on Tuesday. The previous traffic record of 17 million was set in May. The Irish airline, Europe’s largest by passengers carried, cancelled more than…
(Reuters) -Elon Musk’s Twitter has put a temporary limit on the number of tweets that users can see each day, a move that has sparked some backlash and could undermine the social network’s efforts to attract advertisers. The limit, imposed to “address extreme levels of data scraping and system manipulation”, is the latest change by…
(Reuters) – Alibaba Group Holding is exploring options for its video streaming platforms Youku and Tudou, Bloomberg News reported on Tuesday, citing people familiar with the matter. One of the options under consideration is to inject the assets into Alibaba Pictures Group Ltd and bolster the scope of the Hong Kong-listed company, Bloomberg reported. (Reporting…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank on Tuesday held interest rates steady saying it wanted more time to assess the impact of past hikes, but reiterated its warning that further tightening might be needed to bring inflation to heel. Wrapping up its July policy meeting, the Reserve Bank of Australia (RBA) kept its…
By Winni Zhou and Ryan Woo SHANGHAI/BEIJING (Reuters) – China’s major state banks have lowered their dollar deposit rates for the second time in a month, seven banking sources with direct knowledge of the matter said, as authorities have stepped up efforts to arrest a slide in the yuan. Interest rates offered by the “Big…
A look at the day ahead in European and global markets from Ankur Banerjee: It looks like we might be getting the Mark Zuckerberg v Elon Musk fight after all, just not in a cage. Meta Platforms plans to launch a microblogging app, Threads, challenging Musk just days after the Twitter executive chair announced a…
By Sarah Wu TAIPEI (Reuters) – Globalisation is taking a backseat to priorities such as national security and technological leadership, with U.S.-China relations consisting more of competition than cooperation, the retired founder of Taiwanese chipmaker TSMC said on Tuesday. Morris Chang, who founded the world’s largest contract chipmaker Taiwan Semiconductor Manufacturing Co Ltd (TSMC), said…
