Category: Reuters
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UBS chair warns against big increase in capital requirements, newspaper reports By Reuters
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ZURICH (Reuters) – UBS President Colm Kelleher warned on Sunday that Swiss government plans to boost capital requirements for major banks could harm the country’s position as a financial centre. The government earlier this year laid out plans to tighten capital requirements on UBS and the other three big banks…
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Steward Health CEO who refused to testify to US Senate will step down By Reuters
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WASHINGTON (Reuters) – Ralph de la Torre will step down as CEO of troubled Steward Healthcare next week after the U.S. Senate held him in criminal contempt for refusing to testify about cost-cutting decisions in the U.S. Senate, the company said on Saturday. The group’s 31 hospitals before it declared…
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Steward Health CEO who refused to testify to US Senate will step down By Reuters
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WASHINGTON (Reuters) – Ralph de la Torre will step down as CEO of troubled Steward Healthcare next week after the U.S. Senate held him in criminal contempt for refusing to testify about cost-cutting decisions in the U.S. Senate, the company said on Saturday. The group’s 31 hospitals before it declared…
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Exxon director joins Elliott group seeking to acquire Citgo Petroleum By Reuters
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HOUSTON (Reuters) – Exxon Mobil (NYSE:) Director Gregory Goff recently joined a newly formed Elliott Investment Management-backed firm seeking to acquire Venezuelan-owned oil refiner Citgo Petroleum. Citgo and Exxon are competitors in the automotive fuel and lubricants business. Exxon is the third largest oil refiner in the United States by…
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Exclusive-TPG in lead to buy stake in Creative Planning at $15 billion valuation, sources say By Reuters
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Written by Milana Finn and David French (Reuters) – Buyout firm TPG has emerged as the front-runner to take a $2 billion minority stake in Creative Planning, in a deal that could value the wealth management company at more than $15 billion, people familiar with the matter said on Saturday.…
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Thyssenkrupp steel head prepares staff for ‘tough’ cuts By Reuters
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FRANKFURT (Reuters) – ThyssenKrupp’s (ETR:) steel division’s new head told a German newspaper that its 27,000 steelworkers should prepare for deep cuts, paving the way for a large number of layoffs. “Strict cuts are necessary. We have to become more profitable,” said Dennis Grimm, spokesman for the executive board of…
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UniCredit CEO Orcel attended virtual meeting with Commerzbank, source says By Reuters
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MILAN (Reuters) – UniCredit President Andrea Ursel attended a virtual meeting held by the Italian bank on Friday with Commerzbank (ETR:) after it became the German bank’s largest private investor, a source familiar with the matter told Reuters. Commerzbank’s CEO-designate, Bettina Orlop, was also present at the conference call on…
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If your AI seems smarter, it’s thanks to smarter human trainers By Reuters
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By Subantha Mukherjee and Anna Tong STOCKHOLM/SAN FRANCISCO (Reuters) – In the early years, getting AI models like ChatGPT or its rival Cohere to emit human-like responses required large teams of low-cost workers to help the models differentiate basic facts like whether a photo was of an object. A car…
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Online sellers on Walmart’s Flipkart sue India watchdog over antitrust probe By Reuters
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By Aditya Kalra NEW DELHI (Reuters) – Three online sellers working for Walmart-owned Flipkart have sued India’s antitrust watchdog over an investigation that found they, Flipkart and rival Amazon (NASDAQ:) violated competition laws, according to court filings seen by Reuters. The filings come after antitrust investigations that concluded in August…
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Kyiv says Russian attacks on medical centre in Ukraine’s Sumy kill 8, injure 11 By Reuters
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KIEV (Reuters) – Russian forces bombed a medical center in Sumy in northeastern Ukraine on Saturday morning and then bombed again while evacuating the building, killing a total of eight people, Ukrainian officials said. Ukrainian prosecutors said that at the time of the attacks, there were 86 patients and 38…
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Why gene therapy for sickle cell is slow to catch on with patients By Reuters
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Written by Dina Beasley LOS ANGELES (Reuters) – Student Zoe Davis, 20, was just weeks into her first year of school when she returned to the hospital with severe sickle cell pain earlier this month. She does what she can to prevent the bouts of paralysis in her arms, legs…
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Why gene therapy for sickle cell is slow to catch on with patients By Reuters
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Written by Dina Beasley LOS ANGELES (Reuters) – Student Zoe Davis, 20, was just weeks into her first year of school when she returned to the hospital with severe sickle cell pain earlier this month. She does what she can to prevent the bouts of paralysis in her arms, legs…
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Boeing wage talks break off without progress to end strike, union says By Reuters
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(Reuters) – The International Association of Machinists and Aerospace Workers (IAM) said late on Friday that its talks on a pay deal with Boeing (NYSE:) have stalled, and that there are no further dates scheduled for negotiations at this time. “We are open to talks with the company, either directly…
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US southeast faces daunting task cleaning up from Helene; death toll rises By Reuters
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Written by Rich McKay, Joseph Ax, and Andrew Hay ATLANTA (Reuters) – Authorities across a wide swath of the southeastern United States on Saturday faced the daunting task of clearing the area of Hurricane Helen, one of the most powerful hurricanes to hit the country, as the death toll continued…
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US southeast faces daunting task cleaning up from Helene; death toll rises By Reuters
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Written by Rich McKay, Joseph Ax, and Andrew Hay ATLANTA (Reuters) – Authorities across a wide swath of the southeastern United States on Saturday faced the daunting task of clearing the area of Hurricane Helen, one of the most powerful hurricanes to hit the country, as the death toll continued…
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TD Bank nears possible guilty plea in money laundering probe, WSJ reports By Reuters
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(Reuters) – TD Bank is close to potentially pleading guilty to criminal charges that its U.S. retail bank failed to curb money laundering linked to Chinese criminal groups and illicit sales of fentanyl, the Wall Street Journal reported on Friday. Canada’s second-largest bank is in talks with US federal prosecutors…
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Apple drops out of talks to join OpenAI investment round, WSJ says By Reuters
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(Reuters) – Apple Inc (NASDAQ:) has left negotiations to participate in an OpenAI funding round expected to raise about $6.5 billion, the Wall Street Journal said on Friday. The technology giant recently withdrew from the talks, which are scheduled to conclude next week, the newspaper said, citing a person familiar…
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Brazil’s top court rules X must pay pending fines to resume service By Reuters
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SAO PAULO/BRASILIA (Reuters) – The Brazilian Supreme Court said on Friday that social media platform X needs to pay just over $5 million in outstanding fines in order to resume its service in the country, according to a court document. Earlier this week, the Elon Musk-owned social platform informed the…
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Car parts supplier Forvia cuts 2024 outlook again, to speed up job cuts By Reuters
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Written by Nathan Fevlin (Reuters) – French auto parts supplier Forvia cut its annual sales and profit forecasts for the second time in three months on Friday, reflecting weakness in European and North American markets and a delay in China. “We have lost, compared to last year, about 2 million…