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EU Watchdog Calls for Common Definition of Corporate ‘sustainability’
Date: July 13, 2022
By Huw Jones LONDON (Reuters) – A new global standard setter for company sustainability reporting needs to ensure its definition of “sustainability” fits with other initiatives to stamp out “greenwashing”, the European Union’s securities watchdog said on Wednesday. The new standard setter – the International Sustainability Standards Board or ISSB – was launched in November...
Illumina Loses Challenge Against EU Antitrust Probe Into Grail Deal
Date: July 13, 2022
By Foo Yun Chee LUXEMBOURG (Reuters) -U.S. life sciences company Illumina on Wednesday lost its challenge against European Union scrutiny of its $8 billion cash-and-stock takeover of Grail, as a top European court agreed the EU antitrust watchdog had the right to do so. The case is important for EU antitrust chief Margrethe Vestager who...
Russia Gives Exiting Firms Time by Pausing Asset Seizure Law
Date: July 12, 2022
MOSCOW (Reuters) – Moscow’s plan to implement a new law enabling authorities to seize the assets of Western firms leaving the country failed to get through parliament before the summer recess, giving companies more time to negotiate exits. Russia’s parliamentary session ended last week without the bill being passed. That makes any progress unlikely until...
Inditex Shareholders Back Heiress Marta Ortega as Chairwoman
Date: July 12, 2022
ARTEIXO, Spain (Reuters) – Shareholders of Spanish fashion retail giant Inditex on Tuesday approved Marta Ortega, the youngest daughter of its founder Amancio, as the group’s chairperson, alongside a new chief executive officer, Oscar Garcia Maceiras. The vote backing the duo took place during the first annual general meeting since 38-year-old Ortega started in her...
Musk Makes Meme on Twitter Legal Threat After Scrapping $44 Billion Deal
Date: July 11, 2022
(Reuters) – Elon Musk on Monday mocked Twitter Inc’s threat to sue him following his move to abandon the $44 billion takeover deal, tweeting the social media firm would need to disclose more information on bots and spam accounts. Twitter shares fell about 10% to $33.26 on Monday, a 38% discount to Musk’s $54.20 bid,...
Exclusive-French Nationalisation of Edf Set to Cost More Than 8 Billion Euros
Date: July 11, 2022
By Mathieu Rosemain and Pamela Barbaglia PARIS (Reuters) -The French government is poised to pay more than 8 billion euros ($8.05 billion) to bring power giant EDF back under full state control, two sources with knowledge of the matter said, adding the aim is to complete the deal in the fourth quarter. One of the...