(Reuters) – The European Central Bank wants lenders to speed up their exit from Russia given the increased reputational, legal and financial risk of doing business there, supervisory chief Andrea Enria said on Tuesday. Though Europe’s top supervisor has for months said he hoped European financial bodies would cut ties with their Russian assets, the…
By Aby Jose Koilparambil (Reuters) – British luxury carmaker Aston Martin unnerved investors on Tuesday by leaving out a sales volume target as it stuck to its medium-term financial goals. Shares in the London-listed firm fell 4.3% to 346 pence by 0750 GMT. “The dropping of an important figure such as a sales target is…
(Reuters) – Most major U.S. banks expect the Federal Reserve to deliver another 25-basis-point rate hike in July after the central bank signaled that borrowing costs may need to rise by as much as half a percentage point by the end of the year. The Fed’s main rate now stands at 5.00% – 5.25% range….
ZURICH (Reuters) -UBS will announce further changes to its management as it seeks to integrate Credit Suisse following the recent takeover of its former rival, the Swiss bank’s chief executive said on Tuesday. UBS announced a raft of management changes shortly after it completed the takeover earlier this month. “We have also already established the…
By Sarah Young LONDON (Reuters) -JD Sports Fashion said there had been some softening in trade in its North American business in June, which would be offset by growth in demand for its trendy trainers and sportswear in the UK, Europe and Asia Pacific. Despite the slowdown in its U.S. and Canadian markets, the British…
By Lewis Jackson SYDNEY (Reuters) – PwC Australia’s sale of its government consulting business may give it temporary respite from a crisis in its tax practice but is unlikely to repair its toxic brand in the country anytime soon, according to experts. PwC said on Sunday it would sell the division for A$1 ($0.67) to…
By Luc Cohen and Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Monday granted preliminary approval to JPMorgan Chase’s $290 million settlement with women who said Jeffrey Epstein abused them, and that the largest U.S. bank turned a blind eye to the late financier’s sex trafficking. The approval was issued by U.S. District Judge…
PARIS (Reuters) – A sizeable chunk of Renault’s planned electric vehicle spinoff could remain in free float on the stock market, its CEO said in an interview published on Tuesday, declining comment on any further strategic investor who would join partners Qualcomm and Nissan. “We need to leave some free float, because we still want…
TEGUCIGALPA (Reuters) – Honduras’ military began taking control of the country’s violent prisons on Monday, following a gang dispute that left 46 inmates dead at a women’s detention center last week, officials said. Leftist President Xiomara Castro announced last week she would hand the military police control of the prison system, a departure from a…
SINTRA, Portugal (Reuters) – The European Central Bank will likely keep raising interest rates after its next meeting even as the economy slows because inflation remains too high, ECB policymaker Martins Kazaks said on Tuesday. The latest economic surveys have painted a worsening picture for the euro zone and its economic powerhouse, Germany, which are…
