By Balazs Koranyi FRANKFURT (Reuters) – It was meant to be Europe’s stellar year. A post-pandemic spending euphoria, supported by copious government spending was set to drive the economy and help fatigued households regain a sense of normality after two dreadful years. But all that changed on Feb. 24 with Russia’s invasion of Ukraine. Normality…
By Jody Godoy and Chris Prentice (Reuters) -A cryptocurrency developer’s landmark legal victory against the U.S. Securities and Exchange Commission (SEC) will galvanize Coinbase and other companies to resist the agency’s attempt to assert its jurisdiction over the industry, experts said. Thursday’s ruling that Ripple Labs Inc did not violate securities law by selling its…
ISTANBUL (Reuters) – Kemal Kilicdaroglu, the main election rival of Turkish President Tayyip Erdogan, issued a warning to Russia, accusing it of responsibility for the release of fake material on social media ahead of Sunday’s ballot. Kilicdaroglu, who has a slight lead over long-time leader Erdogan according to opinion polls, did not specify to which…
By David Lawder WASHINGTON (Reuters) -The International Monetary Fund said its executive board approved a $235.6 million disbursement to Kenya on Monday as it approved a third review of the country’s Extended Credit Facility and Extended Fund Facility arrangements. The disbursement is usable for budget support and brings such payouts to $1.208 billion under the…
HOUSTON (Reuters) – The United Steelworkers union (USW) seeks this week to renew talks with Chevron Corp over a six-week-old strike at the company’s Richmond, California, refinery, said a USW official. The company and union haven’t met at the bargaining table in two weeks after each rejected the other’s proposal. “We are going for a…
By Helen Coster and Eva Mathews (Reuters) – Comcast Corp is ramping up spending on its Peacock streaming service, executives said on Thursday, aiming to catch up to big media rivals in the global battle for viewers. Unlike the majority of its rivals, Peacock offers a free, ad-supported version and two paid options: a $5-per-month…
(Reuters) – Meta and the European Union (EU) have agreed on a stress test in July on the EU’s online content rules, following EU industry chief Thierry Breton’s demand that the social media platform act immediately over Meta’s content targeting children. “Productive discussion with Meta CEO Mark Zuckerberg in Menlo Park on EU digital rules:…
Delta is ordering 100 737 Max 10 airplanes, the largest of the line produced by Boeing, potentially giving the manufacturer additional momentum after a troubled rollout of its most advanced aircraft. Delta has an option to purchase 30 more of the aircraft as the airline looks to keep up with surging travel demand. Boeing has…
By Hannah Lang (Reuters) – Greg Becker, the chief executive officer who presided over the collapsed Silicon Valley Bank, joined the company three decades ago as a loan officer. The executive cut his teeth during the dotcom bubble and later steered the startup-focused lender in the wake of the 2008 global financial crisis. He became…
SHANGHAI (Reuters) – The smallness of a cut to the amount of money Chinese banks must hold in reserves may reflect concern by the Chinese central bank over inflation and U.S. monetary tightening, making further interest rate cuts less likely, analysts say. The People’s Bank of China (PBOC) on Friday announced a 25-basis-point (bp) cut…
