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TomTom lifts 2023 forecasts after new maps help beat Q2 expectations
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CDS panel rules UBS is sole successor to Credit Suisse after merger
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Luxury group Richemont boosted by Asia recovery but Americas weigh
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Belgium telecom provider Proximus to buy majority stake in India’s Route Mobile
Russian scientists warn of powerful solar flare activity on Monday
Date: July 17, 2023
Russian scientists warn of powerful solar flare activity on Monday (Reuters) – Powerful solar flare activity is forecast for Monday which may interfere with short-wave communications, Russian scientists said after three flares were observed on the sun on Sunday. The Fedorov Institute of Applied Geophysics in Moscow said class X flares were possible,...
UN Security Council to hold first talks on AI risks
Date: July 17, 2023
UN Security Council to hold first talks on AI risks LONDON (Reuters) – The United Nations Security Council will hold its first formal discussion on artificial intelligence (AI) this week in New York, with Britain to call for an international dialogue about its impact on global peace and security. Governments around the world are considering...
U.S. banks point to resilient but slowing economy, flag risks ahead
Date: July 14, 2023
U.S. banks point to resilient but slowing economy, flag risks ahead (Reuters) – Some of the largest U.S. banks got a profit boost from higher interest rates and pointed to early signs of recovery in investment banking but warned that the economy was slowing and losses would increase in commercial real estate. In their earnings...
Swedish landlord SBB rules out state support as cash dwindles
Date: July 14, 2023
Swedish landlord SBB rules out state support as cash dwindles By Marie Mannes STOCKHOLM (Reuters) -Swedish property group SBB on Friday ruled out state support as it sought to repair its battered finances, marred by a heavy loss and dwindling cash. The $13 billion group, which owns swathes of property across Sweden including hospitals and...
StanChart to sell sub-Saharan Africa business to Access Bank
Date: July 14, 2023
StanChart to sell sub-Saharan Africa business to Access Bank DUBAI (Reuters) – Standard Chartered said on Friday it has reached an agreement to sell its subsidiaries in sub-Saharan Africa to Nigeria’s Access Bank, putting into motion a plan announced last year to divest those businesses. Standard Chartered will sell its shareholding in its subsidiaries in...
Small business distress index hits mid-2020 high
Date: July 14, 2023
Small business distress index hits mid-2020 high By Chiara Elisei LONDON (Reuters) – Corporate distress among small and medium-sized enterprises (SMEs) hit its highest since mid-2020 in the three months to May in Britain and Europe, as credit conditions tightened, an index compiled by law firm Weil Gotshal and Manges showed on Thursday. SMEs are...