By Brenna Hughes Neghaiwi and Silke Koltrowitz ZURICH (Reuters) – Credit Suisse faced charges in a Swiss court on Monday of allowing an alleged Bulgarian cocaine trafficking gang to launder millions of euros, some of it stuffed into suitcases. In the first criminal trial of a major bank in Switzerland, Swiss prosecutors are seeking around…
(Reuters) – U.S. low-cost carriers Spirit Airlines and Frontier Group Holdings announced a merger agreement on Monday in a deal that values Spirit at a fully diluted equity value of $2.9 billion. The transaction value of the deal is $6.6 billion when accounting for the assumption of net debt and operating lease liabilities, the companies…
By Makiko Yamazaki TOKYO (Reuters) – Toshiba Corp said it now aims to break up into two companies instead of three, while also unveiling a big boost to planned shareholder returns in an effort to appease angry investors. Its revised plan is still expected, however, to face much pushback from foreign hedge funds, many of…
LONDON (Reuters) – Rapid action is needed to update how cross-border financial services are scrutinised and consumers protected as the sector becomes digitalised with “Big Tech” playing an increased role, European Union regulators said on Monday. People are using smartphones to buy and sell shares, move money around bank accounts and make payments, a trend…
LONDON (Reuters) – Danish pension fund AkademikerPension said on Monday it was selling its stake in budget airline Wizz Air over alleged “human and labour rights abuses” towards its workers. The $23 billion fund was one of 14 investors that called on Wizz in December to allow employees to form and join trade unions, saying…
LONDON (Reuters) – The euro dipped on Monday after a surge last week that followed the hawkish turn from the European Central Bank, as traders turned to the dollar, betting the jump in U.S. jobs created in January could lead to faster U.S. Federal Reserve rate hikes. The European common currency dropped 0.2% to as…
By Makiko Yamazaki TOKYO (Reuters) -Toshiba Corp said it now aims to break up into two companies instead of three and also unveiled a big boost to planned shareholder returns in an effort to appease angry investors. Its revised plan is still expected, however, to face much pushback from foreign hedge funds, many of whom…
By Elizabeth Howcroft LONDON (Reuters) – On Jan. 12, an image of a computer-generated pixelated person was sold for about $50.6 million worth of cryptocurrency on a new online marketplace that caters for non-fungible tokens. It gets stranger. Five minutes later, the same “Meebit” NFT – a virtual character clad in purple shorts and green…
HAMBURG (Reuters) -Aurubis AG, Europe’s largest copper producer, on Monday confirmed an 85% rise in quarterly profits and reiterated increased full-year earnings estimates as high metal prices and strong output boosted results. Aurubis reaffirmed operating earnings before taxes (operating EBT) in the first quarter of its 2021/22 financial year ending Dec. 31 of 152 million…
By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) -Indonesia’s economic growth accelerated in the final quarter of last year as consumption perked up following the easing of anti-virus mobility restrictions and as stronger commodity prices pushed exports to record highs. Southeast Asia’s largest economy grew 5.02% on a yearly basis in the October-December quarter, compared…
