(Reuters) – Bankrupt crypto lender Celsius Network LLC said on Thursday it has chosen Fahrenheit’s proposal as the winning bid to manage a new entity to be owned by its creditors, directing itself out of bankruptcy. Fahrenheit, a consortium that includes blockchain-based venture capital firm Arrington Capital, will provide the capital, management team and technology…
By Farah Master HONG KONG (Reuters) -Cathay Pacific needs to address staff and resource shortages and raise pay to boost morale, its flight attendant union said, after three staff were fired for allegedly mocking passengers who could not speak English. A passenger on the CX987 flight from the southwestern Chinese city of Chengdu to Hong…
By Peter Hobson LONDON (Reuters) – The United Arab Emirates has become a key trade hub for Russian gold since Western sanctions over Ukraine cut Russia’s more traditional export routes, Russian customs records show. The records, which contain details of nearly a thousand gold shipments between Feb. 24, 2022 and March 3 this year, reveal…
By Ksenia Orlova and Vladimir Soldatkin (Reuters) – Russian Deputy Prime Minister Alexander Novak said on Thursday he expected no new steps from the OPEC+ group of oil producers at its meeting in Vienna on June 4, Russian media reported, after the group announced a significant output cut earlier this year. Saudi Arabia and other…
By Lewis Jackson and Renju Jose SYDNEY (Reuters) -PricewaterhouseCoopers (PwC) has agreed to remove staff with links to the leak and use of confidential Australian tax plans from government work, a senior government official told an inquiry on Thursday. The accounting firm is embroiled in a national scandal over its use of confidential information about…
By Makiko Yamazaki and Mayu Sakoda TOKYO (Reuters) -Shareholders of Japan’s Seven & i Holdings Co Ltd on Thursday voted down all four of the board candidates nominated by ValueAct Capital, dismissing the U.S. investment firm’s attempt to shake up the retail giant’s board. ValueAct, long critical of the 7-Eleven convenience store operator’s conglomerate structure,…
By Paul Lienert and Nick Carey DETROIT/BICESTER, England (Reuters) – British electric van startup Arrival, which has hit many road bumps in its quest to become the next Tesla Inc, now hopes huge subsidies from the U.S. Inflation Reduction Act and a second reverse merger will give it a fresh shot at survival. Since it…
(Reuters) – Swedish telecoms company Ericsson beat a lawsuit by U.S. shareholders on Wednesday, when a federal judge ruled it did not mislead investors about its compliance with U.S. anti-bribery laws. The lawsuit filed by a Boston-based pension fund claimed that Ericsson had overstated the extent to which it had eliminated the use of bribes…
By Ebru Tuncay, Orhan Coskun and Nevzat Devranoglu ANKARA (Reuters) -Days before Turkey’s runoff presidential election, there is disagreement and uncertainty within Tayyip Erdogan’s government over whether to stick with what some call an unsustainable economic programme or to abandon it, insiders say. According to interviews with nine sources, either government officials or others with…
A look at the day ahead in European and global markets from Sonali Desai. The U.S. debt ceiling saga continues to hang over global markets, with the White House and Republicans both citing progress in the latest round of talks but no breakthrough yet. Ratings agency Fitch opted not to wait, placing the country’s “AAA”…
