Stuff that matters
Credit Suisse misled authorities over spying on its staff and lied to investors about a corrupt loan to Mozambique, regulators said, painting a bleak picture of the cultural decay at the global bank. The hefty fines announced late on Tuesday Read more
Oilfield firm Baker Hughes Co (BKR.N) reported quarterly profit that fell short of analyst expectations on Wednesday, in part due to global supply chain issues, sending its shares down sharply in early trading. Oil service firms are expected to be Read more
Italy’s UniCredit (CRDI.MI), Intesa Sanpaolo (ISP.MI) and smaller Banca Ifis (IF.MI) said on Wednesday they had joined the U.N. Net-Zero Banking Alliance (NZBA), a group of banks committed to reducing their carbon financing and investment portfolio by 2050. The alliance, Read more
Nestle (NESN.S) raised its full-year sales target on Wednesday after the world’s largest food group reaped the benefits of price hikes on its products ranging from pet food to bottled water with a forecast-beating third quarter. The Switzerland-based firm, whose Read more
Future Retail must take part in arbitration over a commercial dispute with Amazon.com Inc (AMZN.O), a Singapore arbitration panel ruled on Wednesday, rejecting the Indian retailer’s bid to avoid the process. Amazon is trying to block Future’s $3.4 billion sale Read more
British fashion house Burberry (BRBY.L) has named Jonathan Akeroyd as its new chief executive officer from next April, poaching the boss of Milan-based Versace and former Alexander McQueen head to succeed Marco Gobbetti. The appointment ends months of uncertainty at Read more
Bundesbank President Jens Weidmann, a relentless critic of the European Central Bank’s ultra easy monetary policy, will step down more than five years early, opening the door for Germany’s new government to pick a less confrontational successor. Following are reactions Read more