LONDON (Reuters) – The Confederation of British Industry (CBI) trade organisation has suspended all policy and membership work until June after a slew of businesses quit following staff complaints about workplace misconduct and allegations of rape by two women. Below is some information about the CBI and its role: WHAT IS THE CBI? Founded in…
By Ross Kerber (Reuters) – Republican federal and state lawmakers, governors, and attorneys general are pushing back on growing efforts by investors and executives to include environmental, social and governance (ESG) factors in their business decision making. In all 39 bills targeting aspects of ESG were filed as of the end of 2022, of which…
MILAN (Reuters) – The privatisation of Italian lender Monte dei Paschi di Siena should foster the creation of several large banking groups in the country, Prime Minister Giorgia Meloni was quoted as telling the Milano Finanza newspaper on Saturday. Monte dei Paschi (MPS), of which the government owns 64% following a 2017 bailout, is seen…
By Guy Faulconbridge MOSCOW (Reuters) – Russia’s richest people added $152 billion to their wealth over the past year, buoyed by high prices for natural resources and rebounding from the huge loss of fortunes they experienced just after the Ukraine war began, Forbes Russia said. Russia has 110 official billionaires in the list, up 22…
By Nerijus Adomaitis OSLO (Reuters) -Norway’s $1.4 trillion sovereign wealth fund, one of the world’s largest investors, said on Saturday it will vote against a resolution calling on British oil major BP to adopt tougher greenhouse gas targets. While BP already aims to reduce emissions, the motion filed by activist group Follow This ahead of…
LISBON (Reuters) – Brazil’s Defence Minister Jose Mucio said on Friday his country’s planemaker Embraer SA would manufacture aircraft that meet NATO’s requirements in a partnership with Portuguese aerospace company OGMA. Embraer, which holds 65% of OGMA’s capital, makes several types of planes, including a light attack aircraft called “Super Tucano”. The company launched last…
By Carman Chew SINGAPORE (Reuters) – Chilean President Gabriel Boric said on Thursday he would nationalise the country’s lithium industry and create a state-owned company to produce the metal that is a key component of electric vehicle batteries. Boric said future lithium contracts would only be issued as public-private partnerships with state control. Chile holds…
By Steve Scherer and Victoria Waldersee OTTAWA (Reuters) -Canada and Volkswagen on Friday together committed more than C$20 billion ($14.8 billion) for a battery gigafactory in St. Thomas, Ontario, the biggest single investment ever in the country’s electric-vehicle supply chain. Europe’s largest carmaker is investing up to C$7 billion to build the plant, Volkswagen said…
By Lewis Krauskopf, Sruthi Shankar and Ankika Biswas (Reuters) – Major U.S. stock indexes ended with fractional gains on Friday following mixed earnings results as investors assessed how conflicting economic data might influence interest rates and looked ahead to a massive week of corporate reports. A survey showed U.S. business activity accelerated to an 11-month…
(Reuters) -SVB Financial Group’s CEO and chief financial officer resigned this week while the collapsed lender’s restructuring committee appointed a turnaround expert as interim CFO, according to a regulatory filing on Friday. CEO Gregory Becker resigned on April 19, while finance chief Daniel Beck left the company on April 18, SVB said. The two top…
