BUDAPEST, Hungary (AP) — Hungary accused Ryanair of consumer protection violations and fined it more than three-quarters of a million euros after the budget carrier raised ticket prices to cope with a tax on what the government calls “extra profits” of industries ranging from airlines to banks. Justice Minister Judit Varga wrote Monday on Facebook…
BEIJING/SHANGHAI (Reuters) – A liquidity crisis at one of China’s top asset managers Zhongzhi Enterprise Group has fuelled worries that the country’s deepening property sector crisis is spilling over into its $57 trillion financial industry, even as the economy is weakening. The group will conduct a debt restructuring, investors sources told Reuters after being briefed…
By Foo Yun Chee BRUSSELS (Reuters) -Alphabet unit Google could face antitrust charges next year over its digital advertising business, with EU regulators frustrated over the slow pace of settlement talks with the company, people familiar with the matter said on Thursday. Google’s ad business is Alphabet’s biggest moneymaker, accounting for about 80% of annual…
By Tetsushi Kajimoto TOKYO (Reuters) – The weekend gathering of finance chiefs from the Group of Seven (G7) advanced economies did not single out China as a threat in their communique, but left signs the world’s second-largest economy will loom large at this week’s summit in Hiroshima. Efforts to grapple with China’s growing global presence…
By Alexandra Ulmer INDIANAPOLIS, Indiana (Reuters) – Former Vice President Mike Pence was booed at a gathering of the country’s largest gun rights lobby on Friday even as he sought to present himself as a more ardent defender of gun rights than his former boss Donald Trump. Trump, meanwhile, used the same forum on Friday…
(In 25th paragraph, corrects name of person quoted and his agency to Jason Stomel, founder of tech talent agency Cadre, not Will Hunsinger, C.E.O. at recruiting firm Riviera Partners) By Hyunjoo Jin SAN FRANCISCO (Reuters) -Elon Musk needs to cut one in ten jobs at Tesla. Some may already have their eye on the exit….
By Dietrich Knauth NEW YORK (Reuters) – Bankrupt wedding gown retailer David’s Bridal received court approval on Friday to sell its business to asset manager Cion Investment Corp in a no-cash transaction, reaching a deal to keep 195 stores open and avoid a total shutdown. U.S. Bankruptcy Judge Christine Gravelle approved the sale at a…
By Brad Brooks (Reuters) -The American Civil Liberties Union (ACLU) filed a lawsuit on Monday on behalf of Oklahoma residents asking a state judge to block the creation of the nation’s first religious public charter school. Oklahoma’s Statewide Virtual Charter School Board, one of the defendants in the suit, in June approved the Catholic Church’s…
By Chen Lin and Xinghui Kok SINGAPORE (Reuters) -U.S. Secretary of Defense Lloyd Austin rebuked China on Saturday for refusing to hold military talks, leaving the superpowers deadlocked over Taiwan and territorial disputes in the South China Sea. Speaking at the Shangri-La Dialogue, Asia’s top security summit, Austin said Beijing’s reluctance to talk undermined efforts…
By Nate Raymond (Reuters) – A group founded by the conservative activist instrumental in the U.S. Supreme Court’s June decision rejecting affirmative action in collegiate admissions on Wednesday sued an Atlanta-based venture capital fund that supports Black women who own small businesses, accusing it of unlawful racial discrimination. The nonprofit American Alliance for Equal Rights,…