TOKYO (Reuters) -Japan’s upcoming economic stimulus package is expected to include an extra budget of more than 29 trillion yen ($198 billion), far exceeding a previous estimate, national broadcaster NHK reported on Thursday. Only a day earlier, Japanese media had reported that the government was set to spend about 25 trillion yen on the stimulus…
(Reuters) – Credit Suisse is nearing a deal to sell its securitized-products group to investors Apollo Global Management and Pacific Investment Management Co, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The consortium including Pimco, a big bond manager, and Apollo, a large alternative asset manager, beat out a group…
(Reuters) -Australia and New Zealand Banking Group Ltd on Thursday reported a 5% rise in annual cash profit that surpassed market expectations, as its home loans business improved and higher interest rates boosted margins in the second half. ANZ said its home loan application times were back in line with industry peers, following an overhaul…
By Paul Lienert and Joseph White DETROIT (Reuters) -Ford Motor Co on Wednesday reported a third-quarter net loss driven by its decision to shift spending from the Argo AI self-driving business. Ford posted a net loss of $827 million, after taking a $2.7 billion noncash pretax impairment on its investment in Argo AI. The automaker…
(Reuters) – Self-driving startup Argo AI will shut down operations and its employees and parts will be absorbed by its main backers, Ford Motor Co and Volkswagen AG, TechCrunch reported on Wednesday, citing people familiar with the matter. Argo employees were told that some of them would receive offers from the two automakers, TechCrunch said,…
(Reuters) -Shares of Mobileye Global Inc are up 30% in early afternoon trading on Wednesday following its U.S. debut, valuing the self-driving technology unit of Intel Corp at $21.8 billion as investors lapped up what could be the last major IPO of 2022. The debut comes after a turbulent period when Mobileye settled for merely…
By Jonathan Stempel NEW YORK (Reuters) – Pfizer Inc said its fellowship program for minorities serves the public interest, as the drugmaker defends against a lawsuit by a group of medical professionals that claims the program illegally excludes whites and Asian-Americans. In a Tuesday night filing, Pfizer urged a Manhattan federal judge to reject Do…
By John McCrank (Reuters) – The U.S. Securities and Exchange Commission on Wednesday voted to adopt new rules that will require companies that restate their financials due to compliance lapses to claw back excess compensation from their executives. The rule, which Congress mandated following the 2007-2009 financial crisis, was left unfinished in 2015, but was…
By Manya Saini and Simon Jessop LONDON (Reuters) – Royal Bank of Canada on Wednesday released interim 2030 targets to cut carbon emissions linked to some of its loans, yet drew criticism from environmental campaigners for not going far enough. The announcement comes ahead of the next round of global climate talks in Egypt in…
(Reuters) – Shares of Mobileye Global Inc were set to open 20% higher on Wednesday, potentially valuing the self-driving technology unit of Intel Corp at nearly $20 billion after the IPO was priced above the anticipated range. At 10:31 a.m. Eastern Time, the shares were indicated to open at $25.05, up from the initial public…
