Asset managers, banks call on EU to cost plans to grab euro clearing from London

LONDON, Feb 2 (Reuters) – Asset managers, hedge funds and banks on Thursday called on the European Union to properly cost its plans to force market participants to shift derivatives clearing business from London to mandatory accounts in the bloc. London Stock Exchange Group’s LCH and ICE in London have long dominated parts of the … Read more

Airbus and Qatar Airways settle bitter A350 jet row

PARIS, Feb 1 (Reuters) – Airbus ( AIR.PA ) and Qatar Airways have settled a dispute over grounded A350 jets, the companies said on Wednesday, averting a potentially damaging UK court trial after a blistering 18-month feud that tore the lid off the global jet market. The “amicable and mutually agreeable settlement” ends a $2 … Read more

France hit by new wave of strikes against Macron’s pension reform

Reform would raise the retirement age to 64 Schools, transport networks, refinery deliveries hit Macron: Reform vital to ensure viability of pension system SAINT-NAZAIRE, France, Jan 31 (Reuters) – Striking workers disrupted French refinery deliveries, public transport and schools on Tuesday in a second day of nationwide protests over President Emmanuel Macron’s plan to make … Read more

Philips to cut 13% of jobs in safety and profitability drive

Philips to cut another 6,000 jobs Increases number of layoffs since October to 13% of current workforce Shares up 5.5% as Q4 results beat expectations AMSTERDAM, Jan 30 (Reuters) – Dutch health technology company Philips (PHG.AS) will scrap another 6,000 jobs worldwide as it tries to restore its profitability and improve the safety of its … Read more

Unilever names former Heinz exec Schumacher as CEO

To become CEO July 1 Activist shareholder says met Schumacher when at Heinz First outsider CEO since Paul Polman appointed in 2008 Unilever shares outpace the FTSE 100 LONDON, Jan 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July in a move that was welcomed by … Read more

America’s hazy chip deal fogs market signals

HONG KONG, Jan 30 (Reuters Breakingviews) – At first glance, Washington’s agreement on Friday with the Netherlands and Japan to suppress some chip-related exports to China looks like a diplomatic win. But the lack of detail suggests the United States still has a way to go to convince allies to sacrifice export revenue in the … Read more

Boeing’s 747, the original jumbo jet, prepares for final send-off

Final 747 freighter to be delivered to Atlas Air Ends more than five decades of commercial output Nearly bankrupt Boeing, before becoming a cash cow Easy to fly, says rock star pilot Bruce Dickinson SEATTLE/PARIS, Jan 29 (Reuters) – Boeing’s (BA.N) 747, the original and arguably most aesthetic “Jumbo Jet”, revolutionized air travel only to … Read more

US says it ‘hacked the hackers’ to bring down ransomware gang, helping 300 victims

WASHINGTON, Jan 26 (Reuters) – The FBI revealed on Thursday it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting more than $130 million in ransomware demands from more than 300 victims . At a news conference, US Attorney General Merrick … Read more

Europe Inc earnings offer market optimists more hope

LONDON, Jan 25 (Reuters) – Earnings from major European companies on Wednesday offered some reasons for optimism about the region’s corporate health, even as investors worry about the slowing global economy. Fourth-quarter earnings from ASML Holding NV (ASML.AS) exceeded expectations and the Dutch technology company, Europe’s largest, forecast a rise of more than 25% in … Read more

Spotify to trim 6% of workforce in latest tech layoffs

Jan 23 (Reuters) – Spotify Technology SA (SPOT.N) said on Monday it plans to cut 6% of its workforce and would take a related charge of up to nearly $50 million, adding to the massive layoffs in the technology sector in preparation for a possible recession. The tech industry is facing a demand downturn after … Read more