By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) – European shares rose on Wednesday, supported by banks and miners, ahead of a broadly priced-in pause in interest rate hikes by the U.S. Federal Reserve. The pan-European STOXX 600 index closed 0.4% higher. Banks, which tend to benefit from higher rates, rose 1.1%. Italy and Spain’s…
MEXICO CITY (Reuters) – The former chief executive of SoftBank Group International, Marcelo Claure, on Wednesday launched a fund focused on Latin America with initial commitments of around $440 million. The fund, named Bicycle I from growth equity firm Bicycle Capital, targets a total size of $500 million and aims to partner with startups across…
By Mathieu Rosemain, Chiara Elisei and Laura Lenkiewicz PARIS (Reuters) -Jean-Charles Naouri is set to lose his 30-year grip on debt-laden Casino unless he can come up with cash to see off rival bids for the French retailer, investment bankers and analysts said. French tycoon Xavier Niel and Czech billionaire Daniel Kretinsky are involved in…
By Leah Douglas WASHINGTON (Reuters) – The U.S. Department of Agriculture will temporarily close a damaged laboratory building at its flagship Maryland research site, a spokesperson told Reuters, shortly after employees filed a federal complaint alleging unsafe work conditions there. Reuters exclusively reported on May 19 that employees at the Beltsville Agricultural Research Center (BARC),…
PARIS (Reuters) – LVMH Chairman and CEO Bernard Arnault’s five children are increasingly stepping into the spotlight as they move up the ranks of the luxury empire. All five of the Arnault children hold key management roles at brands in the company. DELPHINE ARNAULT, 48, became chairman and ceo of fashion label Christian Dior Couture…
By Ron Bousso and Shadia Nasralla LONDON (Reuters) -Shell said it will ramp up its dividend and share buybacks while keeping oil output steady into 2030, as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan. Shell will increase its overall shareholder distribution to 30% to 40% of cash…
(Reuters) – U.S. Treasury officials on Wednesday unveiled rules for how non-profits, tribes and governments can take advantage of subsidies in President Joe Biden’s new climate change law, expanding the incentives beyond big corporations. The Inflation Reduction Act (IRA) offers billions of dollars in tax credits to speed decarbonization of the U.S. economy. To encourage…
By Humeyra Pamuk WASHINGTON (Reuters) – The Biden administration will strive to step up cooperation with China to halt the flow of the synthetic opioid fentanyl into the United States, a U.S. counter-narcotics official said ahead of a visit by U.S. Secretary of State Antony Blinken to Beijing. Efforts could include negotiations with China over…
By David Shepardson WASHINGTON/LOS ANGELES (Reuters) – Acting U.S. Labor Secretary Julie Su remained in San Francisco on Wednesday for ongoing meetings with West Coast port employers and unions representing 22,0000 workers with the goal of moving contract talks toward a resolution, a Department of Labor official said. Workers at ports stretching from California to…
By Stephen Nellis SAN FRANCISCO (Reuters) -Amazon Web Services, the world’s largest cloud computing provider, is considering using new artificial intelligence chips from Advanced Micro Devices Inc, though it has not made a final decision, an AWS executive told Reuters. The remarks came during an AMD event where the chip company outlined its strategy for…
