By Tom Sims and Alexander Hübner FRANKFURT (Reuters) -German insurer and asset manager Allianz on Thursday said it would set aside 3.7 billion euros ($4.20 billion) to deal with investigations and lawsuits resulting from the collapse of a multi-billion-euro set of investment funds. The provision resulted in a net loss attributable to shareholders of 292…
By Matt Scuffham NEW YORK (Reuters) -Goldman Sachs on Thursday upgraded its key profitability targets and set new goals for its asset management, transaction banking and consumer businesses as it laid out its strategy for the next three years. Wall Street’s premier investment bank is reshaping itself after a turbulent decade during which profit at…
By Scott DiSavino NEW YORK (Reuters) -Oil prices fell about 2% on Thursday as talks to resurrect a nuclear deal with Iran entered their final stages which could unlock more crude supplies, but losses were limited by tension between top energy exporter Russia and the West over Ukraine. “(The) oil market is locked in a…
WASHINGTON (Reuters) – The Federal Communications Commission (FCC) said on Thursday that voice service providers Bandwidth and Vonage lost a partial exemption from standards aimed at preventing robocalls and were referred for further investigation. The companies did not immediately respond to requests for comment. “We will not turn a blind eye to providers that have…
By Karin Strohecker and Natalia Zinets LONDON/KYIV (Reuters) – Ukraine is working with the United States and other Western nations on unlocking billions of dollars in funding to shore up its finances and is looking to the International Monetary Fund for another deal, the country’s finance minister said. Serhiy Marchenko told Reuters on Thursday his…
By Herbert Lash NEW YORK (Reuters) – Gold prices jumped to an eight-month high and safe-haven debt rose on Thursday after U.S. President Joe Biden said there was every indication Russia planned to attack Ukraine, while Moscow accused Washington of ignoring its security demands. A gauge of global equities fell more than 1% despite strong…
By Paul Lienert (Reuters) – Ford Motor and Geely Automobile’s Volvo Cars will join battery recycling startup Redwood Materials in developing processes, starting in California, to collect end-of-life batteries from electric and hybrid vehicles and recover the materials for use in new batteries, the companies said Thursday. Redwood Materials, co-founded by former Tesla executive JB…
By Lucia Mutikani WASHINGTON (Reuters) -The number of Americans filing new claims for jobless benefits unexpectedly rose last week, but remained below pre-pandemic levels as labor market conditions continue to tighten. The first increase in a month reported by the Labor Department on Thursday did not change economists’ expectations for another month of solid employment…
By Richa Naidu LONDON (Reuters) – European retailers are locked in extended price negotiations with giant food companies – including the world’s biggest, Nestle – as they fight to retain shoppers and protect their profits. Major consumer products companies across the world have announced plans to boost prices at a faster pace than last year…
By Joseph White DETROIT (Reuters) – Nissan Motor Co said on Thursday it will invest $500 million to retool its U.S. assembly plant near Canton, Miss. to build two new electric vehicles, part of the Japanese automaker’s $18 billion program to expand its electric vehicle fleet through 2030. Nissan said it plans to assemble electric…
