(Reuters) – Swedish hygiene products group Essity has divested its operations in Russia, the company said in a statement on Saturday. The company said it did not expect to see a material financial impact from the winding down of its Russian business. Essity has signed an agreement with a buyer and the transaction has been…
By Nell Mackenzie, Sinead Cruise and Naomi Rovnick LONDON (Reuters) – Big banks and investors quickly sought to distance themselves from Odey Asset Management after allegations of sexual misconduct by its founder, yet for some in the City of London signs of a deeper change in culture are still scant. The Financial Times and Tortoise…
ZURICH (Reuters) – The Swiss National Bank could raise interest rates to tackle inflation which remains above target, Chairman Thomas Jordan said in an interview published on Saturday, Jordan defended the central bank’s commitment to price stability, which he defined as inflation below 2% but in positive territory, in the article in Swiss newspaper Corriere…
By David Shepardson WASHINGTON (Reuters) – American Airlines and JetBlue Airways asked a U.S. judge late Friday to allow them to continue mutual frequent flyer recognition and codeshare arrangements. U.S. District Judge Leo Sorokin ruled on May 19 that the airlines must end their Northeast Alliance (NEA) they used to coordinate flights and pool revenue…
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX received court permission on Friday to remove customer names from all filings in its bankruptcy case, persuading a U.S. judge that publishing the names would put people at risk of scams and identity theft. U.S. Bankruptcy Judge John Dorsey in Wilmington, Delaware, ruled that…
By Richard Cowan WASHINGTON (Reuters) -Republicans in the U.S. House of Representatives on Friday unveiled a series of new tax breaks aimed at businesses and families while proposing to reverse some of President Joe Biden’s legislative victories, including credits to spur the sale of clean-burning electric vehicles. Three related bills were introduced on Friday with…
(Reuters) – Italy’s biggest telecoms company Telecom Italia (TIM) said on Friday it received two new offers for its landline grid, as companies bid to resolve the impasse over the asset’s sale process. U.S. fund KKR and separately a rival consortium comprising state lender CDP and Australian fund Macquarie submitted bids for Telecom Italia’s network,…
PARIS (Reuters) -France’s finance ministry is working on plans to close a tax loophole benefiting short-term furnished rentals such as Airbnb, Finance Minister Bruno Le Maire said on Friday. Many big French cities are facing housing shortages and renting flats to tourists on platforms such as Airbnb is often blamed for reducing the supply of…
By Dietrich Knauth NEW YORK (Reuters) – A U.S. judge on Friday dismissed the bankruptcy of 3M subsidiary Aearo Technologies, rejecting an effort to resolve nearly 260,000 lawsuits alleging that 3M military earplugs caused hearing loss for veterans and U.S. service members. U.S. Bankruptcy Judge Jeffrey Graham ruled that Aearo, as a well-supported subsidiary of…
By Guy Faulconbridge and Elena Fabrichnaya MOSCOW (Reuters) – The end of the dominance of the U.S. dollar is nigh as the Chinese yuan rises and the rest of the world sees the peril of the West’s failed attempt to bring Russia to its knees over Ukraine, one of Moscow’s most powerful bankers told Reuters….