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Ericsson’s board rebuked by shareholders at AGM for second year in a row
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BoE’s Mann: Falling headline inflation, high core, make policy difficult
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Elon Musk and others urge AI pause, citing ‘risks to society’
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Airbus drops offer for stake in Atos unit, shares tumble
UK to examine Broadcom’s $61 billion VMware deal in depth
Date: March 29, 2023
(Reuters) – Britain said it would investigate Broadcom’s acquisition of VMware in depth after the U.S. chipmaker offered no immediate undertakings in response to its concerns about the impact of the $61 billion deal on the server market. Britain’s Competition and Markets Authority said earlier this month that Broadcom’s acquisition of the cloud computing and...
Intercos fund shareholders L Catterton, OTPP sell 6% stake at 7% discount
Date: March 29, 2023
MILAN (Reuters) – Private equity fund L Catterton and the Ontario Teachers’ Pension Plan (OTPP) said they had completed the sale of an around 5.7% stake in Italian cosmetics manufacturer Intercos at a price of 13.25 euros ($14.36) per share. The price represents a 6.8% discount to Tuesday’s closing value of 14.15 euros per share....
Factbox-Five facts about returning UBS CEO Sergio Ermotti
Date: March 29, 2023
LONDON (Reuters) – Sergio Ermotti has been rehired as the CEO of Swiss banking giant UBS to steer its massive takeover of rival Credit Suisse. Here are five facts about the 62-year-old banker. * Swiss national Ermotti began his career as an apprentice at Corner Bank, before getting his first big break in 1987 with...
Wizz Air loses fight against $67 million in state aid for Romanian rival
Date: March 29, 2023
By Foo Yun Chee BRUSSELS (Reuters) – European budget carrier Wizz Air on Wednesday lost its fight against 62 million euros ($67.2 million) in state aid granted to its Romanian rival Blue Air after Europe’s second-top court backed EU competition regulators’ decision to approve the subsidies. The European Commission in its 2020 decision said a...
Britain’s Next sees lower clothing inflation, shares dip on cautious outlook
Date: March 29, 2023
By James Davey LONDON (Reuters) -British fashion retailer Next reported a better-than-expected 5.7% rise in annual profit on Wednesday and said it would not need to increase prices by as much as previously thought. However, it still expects higher spending on wages, energy and technology to reduce its profit this year, and the retailer’s shares...
Banking turmoil means recession fears are creeping back
Date: March 29, 2023
(Reuters) – The failures of U.S. lenders Silicon Valley Bank (SVB) and Signature Bank, followed by Credit Suisse’s rescue, and the ensuing turmoil in world markets have re-ignited the recession risks that appeared to have abated just a few weeks ago. Traders now bet the Federal Reserve is practically done hiking interest rates. Optimism that...