By Elvira Pollina and Akriti Sharma MILAN (Reuters) -U.S. fund KKR strengthened its lead in the race to secure the landline grid of Telecom Italia (TIM) when it offered to raise its bid by up to or over 2 billion euros ($2.2 billion), two people with knowledge of the matter said. The value of KKR’s…
By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka lifted import restrictions on 286 items, the Finance Ministry said on Saturday, a fresh sign the South Asian nation is starting to emerge from its worst economic crisis in decades. The island off India’s southern coast plunged into crisis last year as its foreign exchange reserves ran…
BERLIN (Reuters) – The CEO of Germany’s largest defence contractor Rheinmetall said he expected a further boost to the company’s stock market value due to the Ukraine war and increased defence spending in Europe. “Our operating income in 2025 should be about 1.5 billion euros ($1.6 billion), maybe even 1.7 billion euros. For a fair…
(Reuters) – Swedish hygiene products group Essity has divested its operations in Russia, the company said in a statement on Saturday. The company said it did not expect to see a material financial impact from the winding down of its Russian business. Essity has signed an agreement with a buyer and the transaction has been…
By Nell Mackenzie, Sinead Cruise and Naomi Rovnick LONDON (Reuters) – Big banks and investors quickly sought to distance themselves from Odey Asset Management after allegations of sexual misconduct by its founder, yet for some in the City of London signs of a deeper change in culture are still scant. The Financial Times and Tortoise…
ZURICH (Reuters) – The Swiss National Bank could raise interest rates to tackle inflation which remains above target, Chairman Thomas Jordan said in an interview published on Saturday, Jordan defended the central bank’s commitment to price stability, which he defined as inflation below 2% but in positive territory, in the article in Swiss newspaper Corriere…
(Reuters) -Twitter will soon begin paying verified content creators for ads in their replies, with the first payment block of around $5 million, company owner Elon Musk said on Friday. “Note, the creator must be verified and only ads served to verified users count,” Musk, the billionaire who bought Twitter last October, said in a…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX received court permission on Friday to remove customer names from all filings in its bankruptcy case, persuading a U.S. judge that publishing the names would put people at risk of scams and identity theft. U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled that…
BUENOS AIRES (Reuters) – Analysts polled by Argentina’s central bank forecast annual inflation this year at 149%, above the 126% expected in the previous poll, according to the monthly survey released on Friday. For May, the analysts polled expect prices to have risen 9% in the month. Inflation in April was 8.4%, according to Argentina’s…
By Sruthi Shankar, Shristi Achar A and David Carnevali (Reuters) – The S&P 500 closed higher on Friday but off session highs, as a Tesla rally failed to galvanize the broader market on the eve of the Federal Reserve’s policy meeting and inflation data next week. Tesla Inc shares climbed 4.06%, clinching their longest winning…
