By Noele Illien, Oliver Hirt and John O’Donnell ZURICH (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind it. The Swiss lender outlined on…
(Reuters) – Twitter Inc shares will be suspended from trading on Friday, the New York Stock Exchange’s website showed, as billionaire Elon Musk faces a court-ordered Oct. 28 deadline to close his $44 billion deal for the social media platform. Musk, the world’s richest person, visited Twitter’s headquarters in San Francisco on Wednesday and hinted…
ZURICH (Reuters) – Battered by years of scandals and losses, Credit Suisse plans to raise capital, cut thousands of jobs and spin off its investment bank. Here are main elements of the new strategy: CAPITAL The bank plans to raise 4 billion Swiss francs ($4.06 billion) to strengthen its balance sheet. Part of this will…
By Dagmarah Mackos (Reuters) -French IT consulting firm Capgemini said it expects results at the top end of guidance this year driven by its cloud, data and artificial intelligence businesses, but cautioned that demand would slow in 2023. “The group expects demand to decelerate a bit in the coming quarters, but it remains confident that…
(Reuters) -Swedish automaker Volvo Cars expects lower wholesales volumes this year, it said on Thursday as it reported a drop in third-quarter operating profit, hit by higher costs and lower volumes. While manufacturing output had continued to improve in the third quarter, the pace of production normalisation has been slowed by power outages and COVID-19…
By Noah Browning LONDON (Reuters) – The drop in Russian fossil fuel exports after its Ukraine invasion this year will transform the global energy landscape for decades and can help to hasten a green energy transition, the International Energy Agency (IEA) said on Thursday. The IEA’s annual World Energy Outlook acknowledges the economic hit from…
(Refiles to remove extraneous word in paragraph 2.) MEXICO CITY (Reuters) – Mexico City’s mayor said on Wednesday she wants to boost the number of ‘digital nomads’ in the capital after signing an agreement with short-term rental platform Airbnb, despite fears the influx is pricing residents out of the rental market. Asked about complaints over…
By Ankur Banerjee SINGAPORE (Reuters) – Asian shares rose on Thursday on growing expectations that major central banks could start slowing th pace of interest rate hikes in coming months, while the dollar’s retreat lifted commodities and pushed treasury yields lower. MSCI’s broadest index of Asia-Pacific shares outside Japan was 1.59% higher and set for…
By Joyce Lee and Heekyong Yang SEOUL (Reuters) -Samsung Electronics Co Ltd reported a 31% drop in third-quarter profit on Thursday and said geopolitical uncertainties are likely to dampen demand until early 2023, as the global economic downturn slashed appetite for electronic devices. The world’s top maker of memory chips and smartphones said that despite…
By Laura Sanicola (Reuters) – Oil prices continued to rise in early Asian trade on Thursday after surging more than 3% in the previous session, driven by record U.S. crude exports and a weaker U.S. dollar. Brent crude futures rose 25 cents, or 0.3%, to $95.94 a barrel by 0015 GMT. U.S. West Texas Intermediate…
