Business

Credit Suisse faces verdict in cocaine-cash trial

Credit Suisse faces verdict in cocaine-cash trial

The logo of Swiss bank Credit Suisse is seen at its headquarters at the Paradeplatz square in Zurich, Switzerland October 1, 2019. REUTERS/Arnd Wiegmann/File Photo Register now for FREE unlimited access to Reuters.com Register ZURICH, June 27 (Reuters) – Swiss judges are set to rule on Monday whether Credit Suisse (CSGN.S) failed to prevent money …

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Leonardo Del Vecchio: Italian billionaire and Ray-Ban owner dies

Leonardo Del Vecchio: Italian billionaire and Ray-Ban owner dies

“EssilorLuxottica sadly announces today that its chairman has passed away,” the group said in a statement, adding that the board would meet to “determine the next steps.” Del Vecchio rose from a childhood in an orphanage to amass a fortune of tens of billions of euros in one of the most famous rags-to-riches stories in …

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FCA investigates Wise CEO Kristo Kaarmann over tax default

FCA investigates Wise CEO Kristo Kaarmann over tax default

Kristo Kaarmann, CEO and co-founder of Wise. Eoin Noonan | sports file | Getty Images The CEO of £3.9 billion ($4.8 billion) fintech firm Wise is being investigated by UK regulators after tax authorities found he failed to pay a tax bill worth over £720,000. Kristo Kaarmann, who co-founded Wise in 2011, was recently fined …

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Tencent wants to be foreign automakers' go-to company for EVs in China

Tencent wants to be foreign automakers’ go-to company for EVs in China

BMW’s iX electric SUV in China was the first global car brand to include the automobile version of Tencent’s WeChat messaging app, according to the Chinese tech company. Tencent BEIJING — Chinese internet giant Tencent wants to sell technology which the company says will help foreign automakers that want to sell cars in China’s massive …

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US flight cancellations soar ahead of July 4th weekend

US flight cancellations soar ahead of July 4th weekend

Flight cancellations soared Sunday, casting a dark cloud over approaching Fourth of July weekend travel plans — as airlines and the Federal Aviation Administration sparred over who is to blame. At least 671 flights had been canceled within, into or out of the US by early Sunday afternoon, according to tracking website Flight Aware. Delta …

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Millions could lose health coverage if premium subsidies expire later this year and trans kids' parents are draining their savings to flee conservative states

NIO’s Hong Kong, Singapore shares hit new highs as outlook brightens

NIO Inc.’s shares in Hong Kong and Singapore have climbed to fresh record highs as the global outlook for electric-vehicle demand brightens. The electric-car manufacturer’s Singapore-listed shares NIO, +3.32% gained 4.1% to US$24.77 while its Hong Kong stock 9866, +2.65% rose 4.3% to 196.60 Hong Kong dollars (US$25.05), both new highs. The two listings are …

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China's May industrial profits slump again despite easing COVID curbs

China’s May industrial profits slump again despite easing COVID curbs

BEIJING, June 27 (Reuters) – Profits at China’s industrial firms shrank at a slower pace in May following a sharp fall in April, as activity in major manufacturing hubs resumed, but COVID-19 restrictions still weighed on factory production and squeezed factory margins. Profits fell 6.5% from a year earlier, less than the 8.5% decline in …

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European markets open to close, data, earnings, G-7, Ukraine

European markets open to close, data, earnings, G-7, Ukraine

LONDON — European stocks moved higher on Monday, continuing a positive trend seen at the end of last week’s trading. The pan-European Stoxx 600 index added 1.1%% in early trade, with basic resources jumping 3.7% to lead gains as all sectors and major bourses entered positive territory. In terms of individual share price movement, Dutch-based …

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