(Adds reporting credit, no change to text) MILAN (Reuters) -Italy’s Treasury is set to hand veteran banker Luigi Lovaglio a new mandate as chief executive of state-owned lender Monte dei Paschi di Siena, two people with knowledge of the matter said. Lovaglio, who built his career at UniCredit where he eventually rose to lead the…
WARSAW (Reuters) – Moody’s has downgraded the long-term deposit ratings of mBank and changed the outlook to negative from “under review” citing risks stemming from the legacy of Swiss franc loans at Polish lenders, the agency said. Moody’s has downgraded the long-term issuer ratings of the bank’s mortgage unit mBank Hipoteczny and changed the outlook…
SHANGHAI (Reuters) – Apple CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. Apple CEO Tim Cook on Saturday used his first public remarks in China in…
By Noel Randewich SAN FRANCISCO (Reuters) -Intel Corp co-founder Gordon Moore, a pioneer in the semiconductor industry whose “Moore’s Law” predicted a steady rise in computing power for decades, died Friday at the age of 94, the company announced. Intel and Moore’s family philanthropic foundation said he died surrounded by family at his home in…
(Reuters) -Microsoft Corp has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported on Friday. The company has told at least two customers that using its Bing search…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks closed higher on Friday, marking the end of a tumultuous week as Federal Reserve officials calmed investor fears over a potential liquidity crisis in the banking sector. While all three major U.S. stock indexes started the session sharply lower on the heels of a sell-off among…
By Lewis Krauskopf NEW YORK (Reuters) – Investors are relying on an old strategy to navigate the current tumult in asset prices: buying shares of the massive U.S. companies that led markets higher for years. Shares of the top five companies by market value — Apple, Microsoft, Alphabet, Amazon and Nvidia — have gained between…
By Mike Scarcella (Reuters) – A federal judge on Friday set a fast-paced schedule in the U.S. Justice Department’s antitrust lawsuit challenging Google LLC’s digital advertising technology practices, moving the case along more quickly than either side had proposed. U.S. Magistrate Judge John Anderson in Alexandria, Virginia, after a brief hearing issued an order setting…
By Ann Saphir (Reuters) – Responsibility for the Federal Reserve’s oversight of large financial institutions like the failed Silicon Valley Bank rests with staff in Washington and not with any regional Fed bank chief, a former chair of the San Francisco Fed bank said on Friday. “The regulatory regime at the Reserve Bank is that…
By Jonathan Stempel NEW YORK (Reuters) -A U.S. judge on Friday dismissed a former Barclays Plc trader’s whistleblower lawsuit accusing the British bank of firing him after he complained it ignored basic risk management and violated its own policies for detecting rogue trading. U.S. District Judge Paul Oetken in Manhattan said Brian La Belle, who…
