(Reuters) -Sweden’s Assa Abloy AB, the world’s No. 1 lock maker, and U.S.-based Spectrum Brands Holdings said on Friday they have reached a settlement with the U.S. Justice Department regarding Assa’s $4.3 billion proposed deal to buy Spectrum’s hardware and home improvement (HHI) division. The Justice Department last year sued to block the proposed deal…
WASHINGTON (Reuters) – Newton Minow’s first speech as chair of the Federal Communications Commission was his most memorable. In addressing leading U.S. broadcast executives on May 9, 1961, in Washington, he said television programming was a “vast wasteland” and something need to be done about it. Here are excerpts from that speech: * “Your industry…
SAO PAULO (Reuters) -Itau Unibanco Holding SA, Brazil’s biggest private bank, reported on Monday first-quarter recurring net profit up 14.6% year-on-year, boosted by a larger loan portfolio with better spreads even as provisions for bad loans increased. The bottom line of 8.44 billion reais ($1.7 billion) was broadly in line with expectations of 8.42 billion…
By Ali Kucukgocmen ISTANBUL (Reuters) – Istanbul barber Hakim Ekinci, a long-time supporter of Tayyip Erdogan, won’t be voting for the president next Sunday, blaming his economic policies for eroding Turks’ purchasing power and leaving many unable to afford even basic foodstuff. Erdogan and his Islamist-rooted AK Party were able to maintain their voter base,…
By Jan Schwartz (Reuters) -Volkswagen has appointed Bentley production chief Peter Bosch to lead its software subsidiary Cariad, dismissing all but one of the unit’s current executive board members as the automaker tries to get the troubled division on track. Bosch will take over from June 1, the German group said on Monday, with two…
(Reuters) – Russia launched its biggest swarm of drones for months against Ukraine on Monday, the eve of Russia’s May 9 Victory Day holiday celebrating the defeat of Nazi Germany, which Kyiv marked a day earlier in a new break with Moscow. CONFLICT * Kyiv’s mayor said Russia had fired 60 Iranian-made kamikaze drones at…
By Khalid Abdelaziz and El Tayeb Siddig PORT SUDAN, Sudan (Reuters) – Hanadi Al-Sir was among thousands who rushed to Port Sudan, hoping to get on a boat or a plane to escape fierce fighting between the army and rival paramilitary forces. Ten days later she is still camped out in the sweltering heat at…
By Selena Li HONG KONG (Reuters) -HSBC has agreed to buy out its China fund management joint venture partner, two people familiar with the matter said, as the Asia-focused bank pushes ahead with expansion in the world’s second-largest economy. HSBC, which currently owns a 49% stake in HSBC Jintrust Fund Management, has signed an agreement…
By Luc Cohen and Hannah Lang (Reuters) – Former U.S. President Donald Trump will not testify at a civil trial to challenge claims made by writer E. Jean Carroll that he raped her in the 1990s and later defamed her, after letting a Sunday deadline pass without asking the court to appear. Trump’s attorney Joseph…
By Roger Tung and Faith Hung TAIPEI (Reuters) – Taiwan’s exports exceeded analyst forecasts but still contracted for the eighth straight month in April, as demand for its tech products remained soft, especially from its biggest market China. Exports last month were down 13.3% by value from a year earlier at $35.96 billion, the Ministry…
