FIN

Credit Suisse found guilty in cocaine cash laundering case

Credit Suisse first major Swiss bank to face criminal trial Former banker found guilty of qualified money laundering Bank plans to appeal BELLINZONA, Switzerland, June 27 (Reuters) – Credit Suisse (CSGN.S) was convicted by Switzerland’s Federal Criminal Court on Monday of failing to prevent money-laundering by a Bulgarian cocaine trafficking gang in the country’s first …

Credit Suisse found guilty in cocaine cash laundering case Read More »

China’s central bank, BIS set up renminbi liquidity arrangement

Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee Register now for FREE unlimited access to Reuters.com Register SHANGHAI, June 25 (Reuters) – China’s central bank said on Saturday it had signed an agreement with the Bank for International Settlements to establish a …

China’s central bank, BIS set up renminbi liquidity arrangement Read More »

Celsius Network hires advisors to prepare for potential bankruptcy – WSJ

Celsius Network logo and representations of cryptocurrencies are seen in this illustration taken, June 13, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Register now for FREE unlimited access to Reuters.com Register June 24 (Reuters) – Celsius Network LLC has hired restructuring consultants from advisory firm Alvarez & Marsal to advise on a possible bankruptcy filing, the Wall Street …

Celsius Network hires advisors to prepare for potential bankruptcy – WSJ Read More »

Boohoo names Trainline’s McCabe as finance chief

A woman poses with a smartphone showing the Boohoo app in front of the Boohoo logo on display in this illustration taken September 30, 2020. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register LONDON, June 23 (Reuters) – British online fashion retailer Boohoo (BOOH.L) on Thursday named Trainline’s (TRNT.L) chief financial officer …

Boohoo names Trainline’s McCabe as finance chief Read More »

Recession fear stalks oil, copper and stocks

LONDON, June 23 (Reuters) – Global markets fell on Thursday as investors worried that further rises in interest rates to quell decades-high inflation that would tip into recession. The German economy, Europe’s largest, suffered a sharp loss of momentum at the end of the second quarter, according to the latest Purchasing Managers’ Index, while corresponding …

Recession fear stalks oil, copper and stocks Read More »

Brookfield raises $15 bln for climate-focused fund

June 22 (Reuters) – Canada’s Brookfield Asset Management (BAMa.TO), said on Wednesday it had raised $15 billion for its first impact fund focused on the global transition to a net-zero carbon economy. The fundraise comes at a time when investors and lawmakers across the globe have been questioning businesses about their environmental and social impact …

Brookfield raises $15 bln for climate-focused fund Read More »

Musk says Tesla’s new car factories ‘losing billions of dollars’

San Francisco, June 22 (Reuters) – Tesla Inc’s (TSLA.O) new car factories in Texas and Berlin are “losing billions of dollars” as they struggle to increase production because of a shortage of batteries and China port issues, Chief Executive Elon Musk said recently. “Both Berlin and Austin factories are gigantic money furnaces right now. Okay? …

Musk says Tesla’s new car factories ‘losing billions of dollars’ Read More »

Toyota cuts July global production plan by 50,000 vehicles

The Toyota logo is seen at its booth during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to Reuters.com Register TOKYO, June 22 (Reuters) – Toyota Motor Corp (7203.T) on Wednesday cut its July global production plan by 50,000 vehicles …

Toyota cuts July global production plan by 50,000 vehicles Read More »

Swedish court upholds ban on Huawei sale of 5G gear

STOCKHOLM, June 22 (Reuters) – A Swedish appeals court on Wednesday upheld a ruling by a lower court that banned Huawei (HWT.UL) from selling 5G equipment in the country, in the latest setback to the Chinese telecoms company’s hopes of staging a comeback. In 2020, Swedish telecom regulator PTS unexpectedly banned Huawei from supplying 5G …

Swedish court upholds ban on Huawei sale of 5G gear Read More »

Exclusive: Inside the hangar at the center of the $1 bln Airbus-Qatar jet dispute

DOHA, June 22 (Reuters) – Two high-tech Airbus A350 jets sit idle with their windows taped and engines covered in a floodlit hangar in the Gulf, hobbled by an international legal dispute between European industrial giant Airbus (AIR.PA) and Qatar’s national carrier. From a distance, the planes might seem like any other long-haul jetliners crowding …

Exclusive: Inside the hangar at the center of the $1 bln Airbus-Qatar jet dispute Read More »