Companies sell their businesses in Russia

Reuters | May 26, 2023

(Reuters) – Some Western companies have agreed to sell their Russian assets or hand them over to local managers as they take action to comply with sanctions over the Ukraine conflict and deal with threats from the Kremlin that foreign-owned assets may be seized. The moves, part of a broader corporate exodus from Russia, are […]

Marketmind: Debt deal is near, Fed peak is not

Reuters | May 26, 2023

A look at the day ahead in U.S. and global markets from Mike Dolan As the AI-led tech stock boom unfolds, there’s light at the end of the U.S. debt ceiling saga – only markets now reckon the Federal Reserve will tighten policy even further this summer. Investors juggled these three strands over the past […]

Fair access to proper housing can boost economic growth – report

Reuters | May 15, 2023

By Marine Strauss BRUSSELS (Reuters) – Providing equitable access to appropriate housing in slums and other informal settlements could massively increase economic growth and boost life expectancy, a report to be published on Tuesday by home-building charity Habitat for Humanity shows. Proper housing could increase economic growth by up to 10.5%, while life expectancy could […]

As sales decline, Adidas faces pressure to find Yeezy fix

Reuters | May 5, 2023

By Helen Reid LONDON (Reuters) – Adidas is set to update investors on Friday about the unsold Yeezy shoes that have put the German sportswear giant in a predicament since it cut ties with Kanye West over his anti-Semitic comments late last year. Executives are expected to tackle the issue when the company reports first-quarter […]

Credit Suisse saw record fund outflows during March turmoil, data shows

Reuters | April 21, 2023

By Marc Jones LONDON (Reuters) – Credit Suisse saw investors pull a record 4.6 billion euros ($5.04 billion) out of its funds at the height of the bank’s troubles last month, data published on Friday showed. The data from Morningstar covered the whole of March, when a potential collapse of Credit Suisse saw Switzerland’s financial […]

Explainer-What is direct air capture and how can it fight climate change?

Reuters | April 18, 2023

LONDON (Reuters) – As the need for climate action intensifies, governments and industries are exploring how to remove carbon dioxide (CO2) from the atmosphere. The U.S. government has offered $3.5 billion in grants to companies that will capture and permanently store the gas using a process known as Direct Air Capture (DAC). Here’s how the […]

Ukraine’s reserves grow to 11-year high on foreign aid – central bank

Reuters | April 6, 2023

KYIV (Reuters) – Ukraine’s international reserves grew to an 11-year high of $31.9 billion at the start of April thanks to foreign aid, lower demand for hard currency and moderately-sized payments on government debt, the central bank said on Thursday. Ukraine faces an unprecedented budget deficit this year due to high military spending to fight […]

U.S. airline loyalty programs can provide buffer from possible recession

Reuters | April 4, 2023

By Rajesh Kumar Singh CHICAGO (Reuters) – U.S. airlines relied on loyalty programs for revenue during the pandemic, and industry executives and experts said income from them should hold up if the economy slips into a recession. Launched more than four decades ago to build airline brand loyalty, the programs have become a cash-generator for […]

Founders of AI company NtechLab say they resigned over projects in Russia

Reuters | March 30, 2023

By Lena Masri (Reuters) -The founders of artificial intelligence company NtechLab said they resigned over disagreements with the company’s management and investors about projects in Russia. One of the founders left Russia in December 2021 while the other left in March 2022, shortly after Russia’s invasion of Ukraine, they said. The two founders’ comments came […]

JPMorgan’s Jamie Dimon to be interviewed under oath in Epstein case

Reuters | March 29, 2023

(Reuters) -Jamie Dimon, the chief executive of JPMorgan Chase & Co, will be interviewed under oath over the bank’s relationship with late sex offender and former client Jeffrey Epstein, a lawyer involved in the case said on Tuesday. The deposition is expected in early May, according to Brad Edwards, a lawyer representing women who claim […]

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