By Timothy Aeppel CHICAGO (Reuters) -For Matthew Prange, it’s easy to see why the inflation surge of the last two years has proven so difficult for the Federal Reserve to tame. “When prices go up, it tends to stick,” said Prange, who oversees $3 billion worth of purchases of electronic parts, plastics, and metal as…
(Reuters) – More than 200 Russian athletes have been sanctioned following the ‘Operation LIMS’ investigation into Moscow’s anti-doping laboratory with more bans to come, the World Anti-Doping Agency said on Thursday. The suspensions are the result of data and samples retrieved by WADA’s Intelligence and Investigations team into the Moscow Laboratory Information Management System (LIMS)….
By Libby George LONDON (Reuters) – Turkey’s lira weakened to a record low against the dollar on Thursday, after incumbent Tayyip Erdogan’s lead in presidential elections surprised markets, while the nation’s sovereign dollar bonds steadied after a three-day post-election rout. The cost of insuring the country’s debt against default fell slightly, but equity markets and…
By Jonathan Stempel NEW YORK (Reuters) -Deutsche Bank AG agreed to pay $75 million to settle a lawsuit by women who say they were abused by the late financier Jeffrey Epstein, and accused the German bank of facilitating his sex trafficking. The accord resolves a proposed class action in Manhattan federal court, and was confirmed…
LONDON (Reuters) -A European body that reviews disputes in the credit default swaps market said on Thursday it will discuss whether a bankruptcy credit event occurred at Credit Suisse after regulators wiped out the bank’s junior bondholders in a state-assisted merger with UBS. The EMEA Credit Derivatives Determination Committee (CDDC) said it will meet on…
By Kirstin Ridley and Stefania Spezzati LONDON (Reuters) – Credit Suisse came close to falling below minimum levels of cash held at the Swiss central bank days before its forced takeover by UBS, a regulatory document shows. As of mid-March 2023, Credit Suisse barely reached its internal cash limit at the Swiss National Bank. A…
By Max Hunder ZAPORIZHZHIA REGION, Ukraine (Reuters) – As the doctor prepared to administer an injection, the loud thud of an artillery shell in the distance broke the silence in the operating room. The staff at this emergency medical treatment point for soldiers near the Zaporizhzhia frontline in Ukraine’s south, aren’t fazed by the danger….
By Andrew Chung (Reuters) – The U.S. Supreme Court on Thursday sidestepped a challenge to federal protections for internet and social media companies that free them of liability for content posted by users in a case involving a lawsuit against Google LLC involving the practices of video-sharing platform YouTube. The justices, in a brief and…
(Reuters) – Russia’s finance ministry on Thursday outlined proposals to tax people working remotely from abroad for Russian companies at the standard income tax rate even if they lose their tax residency, as Moscow looks for ways to maximise revenues. Hundreds of thousands of Russians have fled since Moscow invaded Ukraine on Feb. 24, 2022,…
BERLIN (Reuters) – Germany’s BDI industry association urged the government on Thursday to reduce the electricity tax to the European minimum level to help companies in Europe’s largest economy remain competitive. “The BDI expects the government to swiftly agree a concept to ensure prices at internationally competitive costs in the long run,” it said in…
