By Julie Zhu, Kane Wu and Selena Li HONG KONG (Reuters) -Goldman Sachs Group is cutting more than 30 banking jobs in Asia, two sources with knowledge of the matter said, as a challenging markets environment weighs on Wall Street banks’ dealmaking and trading revenues. The reduction in regional jobs, most of which are in…
By Paul Sandle LONDON (Reuters) -It has taken months of tortuous negotiations for Vodafone and CK Hutchison to agree a deal to create Britain’s biggest mobile operator, but from a regulatory standpoint the hard work is only just beginning. The $19 billion tie-up will be scrutinised by Britain’s Competition and Markets Authority, the antitrust regulator…
(Reuters) – Canadian companies across industries have laid off thousands in recent months as a post-pandemic spending splurge fades and rising interest rates fan fears of a possible recession. The cuts mirror the tens of thousands of layoffs seen in the United States, where major companies such as Meta Platforms have carried out multiple rounds…
(Reuters) – Oreo-maker Mondelez International said on Thursday it has scaled down operations in Russia and plans to make it a stand-alone business with a self-sufficient supply chain before the end of the year. The Chicago-based snack maker, which has faced a widening corporate boycott in the Nordic region over its presence in Russia, said…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -European shares slipped on Thursday after the European Central Bank (ECB) raised borrowing costs as expected and signalled more policy tightening in its fight against sticky inflation. The continent-wide STOXX 600 index closed 0.1% lower after falling as much as 0.8% earlier in the day. The ECB…
LIMA (Reuters) – Peru’s gross domestic product (GDP) expanded 0.31% in April compared with the same month last year, the government’s INEI statistics agency said on Thursday, nevertheless landing below analysts’ expectations. Analysts polled by Reuters had forecast growth of 1.5% increase, after a 0.22% rise recorded in March. The increase marks the second consecutive…
ROME (Reuters) -Generali will buy out the Spanish unit of U.S. insurer Liberty Mutual for 2.3 billion euros ($2.51 billion), in a move aimed at strengthening its property and casualty segment, Italy’s top insurer said on Thursday. “Generali is acquiring a profitable insurance business in three growing European markets with very attractive characteristics, that will…
By Victoria Waldersee BERLIN (Reuters) -Tesla will hire fewer temporary workers at its plant outside Berlin than it did in its ramp-up phase and refrain from Saturday shifts, but it is still on track to achieve its production targets, the company said on Thursday. The comments followed a report by Business Insider earlier on Thursday…
By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) -The European Central Bank raised borrowing costs to their highest level in 22 years on Thursday and left the door open to more hikes, extending its fight against inflation that remains stubbornly high even as the euro zone economy flags. The ECB increased its key interest rate…
By Fergal Smith TORONTO (Reuters) – Canada’s housing market showed further signs of recovery in May following a yearlong slump, data on Thursday showed, a factor that could support additional Bank of Canada interest rate hikes. Canadian home sales rose 5.1% in May from April and were up 1.4% year-over-year, the first increase on an…
