ZURICH (Reuters) – The merger of the Swiss units of UBS and Credit Suisse could be completed as early as July 1, a senior executive at UBS was quoted as saying on Tuesday. UBS, which acquired its former rival Credit Suisse last year after the bank’s collapse, had previously indicated the two units would be…
(Reuters) – Southwest Airlines’ shares rose about 7% in premarket trade on Monday after the Wall Street Journal reported that activist investor Elliott Investment Management had built a nearly $2 billion stake in the U.S. carrier. According to the Journal’s report on Sunday, Elliott is one of Southwest’s largest investors and plans to push for…
(Reuters) – Volvo cars has started to shift production of Chinese-made electric vehicles to Belgium in the expectation that the European Union will drive ahead with a crackdown on Beijing-subsidised imports, the Times reported on Saturday. Volvo, which is majority-owned by China’s Geely, was considering halting sales of Chinese-built EVs bound for Europe if tariffs…
By Siddharth Cavale BENTONVILLE, Arkansas (Reuters) – Initial public offerings of Walmart’s Flipkart marketplace and PhonePe digital payments platform could take a couple of years, a Walmart executive said. “This is something we’re looking at over the next couple of years,” Walmart’s executive vice president for corporate affairs, Dan Bartlett, said on the sidelines of…
TOKYO (Reuters) – Nippon Steel Vice Chairman Takahiro Mori met with U.S. Steel’s employees and community leaders this week to gain better understanding of its proposed acquisition of the U.S. company and saw positive reaction, a company spokesperson said. Mori, the key negotiator for the U.S. Steel deal, returned to the United States this week,…
By Maha El Dahan DUBAI (Reuters) – Saudi Arabia placed over half of an $11.2 billion share sale in Aramco with foreign investors, two people with knowledge of the matter told Reuters on Saturday. Saudi Arabia has been seeking to lure international investment to pour tens of billions of dollars into projects to diversify away…
LONDON (Reuters) – Amazon is facing a one billion-pound ($1.3 billion) collective lawsuit from British retailers who allege that the online marketplace misused their data to boost its own market share and profits. The British Independent Retailers Association (BIRA), an umbrella body grouping numerous small traders, was due to file the lawsuit on behalf of…
(Reuters) – Shares of GameStop surged over 30% on Thursday after the online stock influencer known as “Roaring Kitty” posted on YouTube that he would hold a livestream on Friday. Thursday’s surge was the latest in a bout of volatile trading in the struggling videogame seller’s shares that kicked off last month after the influencer,…
STOCKHOLM (Reuters) – Cisco on Tuesday launched a $1 billion fund to invest in artificial intelligence startups, joining a list of big technology companies rushing to take stakes in small AI firms. The company, through its investment arm, is investing in Cohere, Mistral AI and Scale AI, among others, and has already committed nearly $200…
(Reuters) – GameStop is back in the limelight after a hiatus of three years with the return of social media influencer “Roaring Kitty” Keith Gill, a key figure in the Reddit-driven “meme stock” rally of 2021. Here is a timeline of the key developments for the struggling video game retailer: July 27, 2020- “Roaring Kitty”…
