(Reuters) -GQG Partners has raised its stake in Gautam Adani’s conglomerate by about 10% and will take part in the group’s future fundraising, the U.S. investment firm said on Tuesday. Although the company did not disclose the total value of its stake in its statement, GQG Chief Investment Officer Rajiv Jain told Bloomberg News that…
ZURICH (Reuters) – Credit Suisse senior managers will have their outstanding bonus payments for 2022 either cancelled or reduced following an order issued on Tuesday by the Swiss Finance Ministry. The order affects the top three levels of Credit Suisse management and follows the multi-billion franc state rescue of Switzerland’s second biggest bank. Governments rarely…
By Federico Maccioni and Alvise Armellini MILAN/ROME (Reuters) – Italy is experiencing a surge in rent prices, the country’s central bank said on Tuesday, against the backdrop of growing student protests over the rising cost of living in big cities. A combination of low salaries, a shortage of housing, the spread of short-term holiday rentals…
By Shadia Nasralla and Ron Bousso LONDON (Reuters) – Shell shareholders overwhelmingly supported the energy giant’s strategy at a raucous annual general meeting disrupted by climate activists who tried to storm the stage. Tuesday’s meeting highlighted the growing tension Shell and its peers face as they try to navigate growing investor pressure to accelerate their…
By Lucia Mutikani WASHINGTON (Reuters) – Sales of new U.S. single-family homes jumped to a 13-month high in April, boosted by a persistent shortage of previously owned houses on the market and a sharp decline in prices from last year’s lofty levels. The report from the Commerce Department on Tuesday followed on the heels of…
By Jason Lange WASHINGTON (Reuters) -The U.S. government could fall behind on its bills next month – and even default on its debt – if Congress doesn’t raise a $31.4 trillion cap on government borrowing, a failure that could trigger economic calamity and panic on global financial markets. What follows is a timeline showing how…
WASHINGTON (Reuters) – The U.S. Treasury said on Tuesday it is asking other federal agencies for greater clarity and communication on the payments they expect to make and receive in the coming days to more accurately forecast when the government will run short of cash without an increase in the federal debt ceiling. A Treasury…
By Andrew Mills DOHA (Reuters) -Standard Chartered CEO Bill Winters on Tuesday said the sale of Credit Suisse to UBS was “surprising” given the “unusual” terms of the deal, which prioritised shareholders over bondholders. “The conclusion was very surprising to me, in terms of the way that the bank was resolved through this very unusual…
By Foo Yun Chee LUXEMBOURG (Reuters) -EU competition regulators appealed to the bloc’s highest court on Tuesday to override a lower tribunal and make Apple pay a record 13 billion euros ($14.3 billion) in Irish back taxes. The case, which has far-reaching implications for corporate tax bills, is the most high-profile of EU antitrust chief…
By Jonathan Stempel (Reuters) – A judge dismissed a proposed class-action lawsuit against Elon Musk that claimed he cheated Twitter shareholders several times last year in the course of buying the social media company for $44 billion. In a decision on Monday, U.S. District Judge Charles Breyer in San Francisco said plaintiff William Heresniak lacked…
