By John Revill ZURICH (Reuters) -Credit Suisse was ordered to pay $926 million to Georgia’s former prime minister on Friday for losing part of his fortune, in a Singapore court ruling that represents one of the biggest legal awards made against the bank. Singapore’s International Commercial Court said a unit of Credit Suisse had not…
(Reuters) – Shares of Marvell Technology soared about 23% on Friday after the chipmaker became the latest to project a big surge in revenue from the AI boom, days after larger peer Nvidia Corp signaled the huge potential for the technology. The gains were set to add nearly $10 billion to Marvell’s market value as…
By Francesco Canepa and Tom Sims FRANKFURT (Reuters) – As banks came under mounting pressure in March, Deutsche Bank used big trades to give its cash buffers a temporary boost, employing a method that European regulators have raised concerns over, two sources familiar with the situation said. Deutsche swapped billions of euros in securities for…
By Benjamin Mallet and America Hernandez PARIS (Reuters) – TotalEnergies shareholders rejected an activist resolution on Friday urging faster cuts to the oil major’s greenhouse gas emissions programme after police intervened to stop climate protesters disrupting its annual general meeting. The resolution, filed by climate group Follow This and 17 institutional investors with a total…
(Reuters) – Walgreens Boots Alliance Inc said on Friday it would slash its corporate staff by about 10%, as it streamlines operations and focuses on consumer-facing healthcare businesses. None of the 504 roles being cut are based at its stores, micro-fulfillment outlets or call centers, a company spokesperson told Reuters. Walgreens, one of the largest…
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Pressure on foreign banks operating in Russia and the widening scope of sanctions is aggravating foreign currency settlements in Russia and creating periodic imbalances on the domestic market, the central bank said on Friday. Western sanctions on Moscow over its actions in Ukraine have curbed its…
By Elena Fabrichnaya and Alexander Marrow MOSCOW (Reuters) – Only five transactions involving foreign companies selling assets in Russia since October have involved payments to non-residents above $400 million, the Bank of Russia said on Friday, playing down the impact of such deals on financial stability. From telecoms companies to fashion retailers, thousands of firms…
By Martin Coulter and Supantha Mukherjee LONDON/STOCKHOLM (Reuters) -For months, Sam Altman, CEO of Microsoft-backed OpenAI has urged lawmakers around the world to draw up new rules governing the technology. On Wednesday, he threatened the ChatGPT maker may leave the EU if the bloc “overregulated”. Altman has spent the past week crisscrossing Europe, meeting…
By Marc Jones and Nevzat Devranoglu LONDON/ANKARA (Reuters) – As Turkey’s lira hit a record low ahead of the country’s election decider on Sunday, the currency is looking increasingly dysfunctional with investors concerned about what may be in store if Tayyip Erdogan secures another decade in power. ‘Erdonomics’, as the 69-year old president’s unorthodox, growth-chasing…
By Pete Schroeder WASHINGTON (Reuters) -As the United States stares at the risk of a credit downgrade, former Standard & Poor’s officials stood firm behind their seminal 2011 call to slash the country’s rating as the right decision. That downgrade came days after Washington narrowly averted a default, but S&P went ahead, cutting the U.S….
