MUMBAI (Reuters) – Reliance Industries said on Saturday its deal with Future Group “cannot be implemented” after secured creditors in the latter rejected it, the company said in an exchange filing. “The shareholders and unsecured creditors of FRL (Future Retail) have voted in favour of the scheme. But the secured creditors of FRL have voted…
By Foo Yun Chee BRUSSELS (Reuters) -Alphabet unit Google, Meta and other large online platforms will have to do more to tackle illegal content or risk hefty fines under new internet rules agreed between European Union countries and EU lawmakers on Saturday. The agreement came after more than 16 hours of negotiations. The Digital Services…
By Julia Love SAN FRANCISCO (Reuters) – A regional director for the U.S. National Labor Relations Board on Friday ordered a union election for a group of workers at an Activision Blizzard-owned studio that works on the popular “Call of Duty” franchise, overruling objections from the company. In a 27-page decision, Jennifer Hadsall, a regional…
(Reuters) – AT&T Inc on Friday named Jeff McElfresh, who headed its largest business unit, as chief operating officer, part of the U.S. carrier’s efforts to refocus on its connectivity business following the merger of its WarnerMedia unit with Discovery Inc. McElfresh has been with the company for more than 20 years and was most…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) – As the world’s dominant creditor, China and must demonstrate leadership in addressing the growing debt problem facing many low-income and emerging market countries around the world, this year’s leader of the Group of 20 finance officials told Reuters. Indonesian Finance Minister Sri Mulyani Indrawati, speaking in…
(Reuters) – Semiconductor maker Broadcom Inc is under scrutiny from the U.S. Federal Trade Commission following complaints it is forcing exclusive agreements with customers, The Information reported on Friday. The FTC is in the early stages of gathering information about whether Broadcom, which has become a major supplier of WiFi and Bluetooth chips to companies…
By David French (Reuters) – Wall Street tumbled more than 2.5% on Friday, ensuring the three main benchmarks ended in negative territory for the week, as surprise earnings news and increased certainty around aggressive near-term interest rate rises took its toll on investors. It was the third straight week of losses for both the S&P…
By David French (Reuters) – Wall Street slumped to a lower close on Friday, ending a whipsaw week of surprise earnings news and increased certainty around aggressive near-term interest rate rises, which also pushed them into negative territory for the week. It was the third straight week of losses for both the S&P 500 and…
By Gertrude Chavez-Dreyfuss and Stefano Rebaudo NEW YORK (Reuters) – The dollar surged to a more than two-year high on Friday, continuing to draw support from Federal Reserve Chair Jerome Powell’s comments on Thursday that seemed to back a half a percentage point tightening at next month’s policy meeting, as well as his remarks on…
By Arathy Somasekhar HOUSTON (Reuters) -Oil slipped on Friday, posting a weekly loss of nearly 5%, on the prospect of weaker global growth, higher interest rates and COVID-19 lockdowns in China hurting demand even as the European Union considers a ban on Russian oil that would further tighten supply. Brent crude settled down $1.68, or…
