News

September 30, 2021 MOSCOW (Reuters) – Russia may seek to fine social media giant Facebook up to 10% of its annual turnover in the country for a repeated failure to delete content which Moscow deems illegal, the Vedomosti daily reported on Thursday. State communications regulator Roskomnadzor said Facebook’s repeated violations could see it fined 5% […]

September 30, 2021 A look at the day ahead from Julien Ponthus That the practicalities of minting a U.S. trillion-dollar coin are actually being debated says a lot about the zeitgeist of this final day of Q3 2021. Yes, #MintTheCoin is a thing and while the idea of Treasury Secretary Janet Yellen raising $1,000,000,000,000 through […]

September 30, 2021 FRANKFURT (Reuters) -Virgin Money UK will close almost one in five branches in the coming months as more customers shift to online banking, the British bank said on Thursday, the latest lender to cut back its high-street presence after the pandemic. The bank, which had promoted its branches as “community-focussed spaces” to […]

September 30, 2021 TOKYO (Reuters) -Japanese mobile phone services and online shopping mall operator Rakuten Group Inc said it will start preparing for an initial public offering of the group’s online banking unit, as it looks to raise funds from its fintech business. The planned listing will allow Rakuten Bank Ltd, which had 186.8 billion […]

September 30, 2021 (Reuters) – Biotech group Oxford Nanopore Technologies is set to start trading in London on Thursday with a market capitalisation of about 3.4 billion pounds ($4.65 billion) at an offer price 425 pence per share. The company, which specialises in DNA sequencing and provides rapid COVID-19 tests to Britain’s national health services, […]

Sinch, the Swedish company that competes with Twilio and others in the world of messaging and other communication APIs is making another big M&A play to build out its platform. It has acquired Pathwire, the cloud-based email provider behind Mailgun, Mailjet and Email on Acid. Sinch said it would pay $925 million in cash, with […]

September 30, 2021 LONDON (Reuters) – Britain’s economy grew by more than previously thought in the April-June period, official data showed on Thursday, before what looks like a sharp slowdown more recently as bottlenecks in the economy, including a shortage of truck drivers, mount. Gross domestic product increased by 5.5% in the second quarter, the […]

September 30, 2021 LONDON (Reuters) – British online fashion retailer Boohoo warned on Thursday that freight inflation in its supply chain and higher wages for its distribution centre workers would hit full year profit margins. The group said full year 2021-22 adjusted EBITDA margins are now expected to be 9% to 9.5%, compared to the […]

September 30, 2021 (Reuters) – Johnnie Walker whisky maker Diageo Plc said on Thursday it has made a “strong start” to its financial year and expects organic operating margins to benefit from a further recovery in sales at restaurants and bars in North America and Europe. However, it expects near-term volatility to remain, pointing to […]

September 30, 2021 By Andrew Galbraith, Xiao Han and Clare Jim SHANGHAI/BEIJING (Reuters) – China Evergrande Group missed paying bond interest due on Wednesday, two bondholders said, its second unpaid offshore debt payment in a week, although the cash-strapped company is scrambling to meet its obligations in its home market. The company, reeling under a […]

September 30, 2021 ZURICH (Reuters) -ABB has launched the world’s fastest electric car charger, the Swiss engineering company said on Thursday, as it presses ahead with plans to spin off the business which could be valued at around $3 billion. The company’s new Terra 360 modular charger can charge up to four vehicles at once, […]

September 30, 2021 STOCKHOLM (Reuters) – Sweden’s H&M reported on Thursday a bigger pretax profit than expected for the June-August period, its fiscal third quarter. Pretax profit at the world’s second-biggest fashion retailer jumped to 6.09 billion Swedish crowns from a year-earlier 2.37 billion. Analysts polled by Refinitiv had on average forecast a 5.05 billion […]

September 30, 2021 JERUSALEM (Reuters) – Israeli forces killed a Palestinian gunman in the occupied West Bank on Thursday and a Palestinian woman who tried to stab officers in Jerusalem’s Old City, Israeli police said. The violence came amid tensions heightened by the deaths on Sunday of five Palestinians, at least four of them claimed […]

September 30, 2021 TAIPEI (Reuters) – The United States remains committed to expanding Taiwan’s space for international participation, a senior U.S. diplomat said at an event with Taiwan’s foreign minister that was also attended by the deputy U.S. ambassador to the United Nations. China, which claims Taiwan as its own territory, blocks the island from […]

September 30, 2021 By Krisztina Than and Gergely Szakacs BUDAPEST (Reuters) – Klara Dobrev, a 49-year-old lawyer, has emerged as the front-runner in a joint opposition bid to unseat Hungary’s Prime Minister Viktor Orban in 2022 elections, partial results of an opposition primary showed on Thursday. Dobrev, whose candidacy would raise the prospect of Hungary’s […]

September 30, 2021 By David Randall NEW YORK (Reuters) – U.S. mid-cap growth funds, emerging market stocks and inflation-protected bonds were among the winners for U.S. investors in a turbulent third quarter that saw the benchmark S&P 500 hit a record high only to tumble at the end of September as rising Treasury yields and […]

September 30, 2021 By Orathai Sriring BANGKOK (Reuters) – Thailand has good fiscal and financial stability but its economy remains fragile and has limited capacity to withstand shocks due to high external dependence amid a severe COVID-19 outbreak, the country’s central bank said on Thursday. The Southeast Asian country is dealing with its worst coronavirus […]

September 30, 2021 By Elisa Anzolin and Silvia Aloisi MILAN (Reuters) – Fashion brands like Benetton are increasingly turning away from globe-spanning supply chains and low-cost manufacturing hubs in Asia, in a shift that could prove a lasting legacy of the COVID-19 pandemic. Italy’s Benetton is bringing production closer to home, boosting manufacturing in Serbia, […]

September 30, 2021 By Dmitry Zhdannikov LONDON (Reuters) – Alex Beard is losing his thirst for oil. Once one of the world’s most powerful oil traders, the former Glencore executive is now raising money to build a portfolio of strategic battery sites across the United Kingdom to support the renewable energy industry. In his first […]

September 29, 2021 FRANKFURT (Reuters) – The chief executive of Volkswagen’s truck unit Traton, Matthias Gruendler, will leave the business and will be replaced by the head of Traton subsidiary Scania, Christian Levin, who will lead both businesses. In a statement late on Wednesday, Traton also said that Traton’s chief finance officer Christian Schulz will […]