By Noele Illien and Oliver Hirt ZURICH (Reuters) -UBS embarked on a more than $10 billion cost cutting plan on Thursday, saying it will axe 3,000 jobs in Switzerland alone after swallowing up its stri[...]
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August 31, 2023
Swedish EV maker Polestar’s loss narrows as supply chain snags ease
By Marie Mannes STOCKHOLM (Reuters) -Swedish electric vehicle (EV) maker Polestar’s operating loss narrowed in the second quarter as the auto industry slowly recovers from pandemic-related suppl[...]
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For traders, September’s ECB move is far from clear cut
By Yoruk Bahceli (Reuters) – For the first time in over a year, traders are struggling to gauge whether the European Central Bank will raise interest rates at its next meeting, with the outlook[...]
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France says Nestle, Unilever, Pepsico among firms not toeing the line on prices
By Leigh Thomas and Richa Naidu PARIS (Reuters) -France’s finance minister said he had struck a deal with food retailers and suppliers to step up the fight against inflation, but singled out Uni[...]
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Pot firms surge as US move to ease curbs sparks hopes of legalization
(Reuters) -Shares of marijuana companies jumped as much as 37% in morning trading on Thursday after a U.S. health agency’s proposal to reclassify it as a lower-risk substance boosted expectation[...]
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Emerging markets beaten back in August as China chills the mood
By Rodrigo Campos and Marc Jones NEW YORK/LONDON (Reuters) – Higher global interest rates, difficulties in China, a stronger dollar plus another coup in Africa this week have slammed the brakes[...]
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Investors call on ISS to overhaul its net-zero proxy advice
By Tommy Wilkes and Simon Jessop LONDON (Reuters) – More than 30 investors have called on proxy advisor ISS to improve the guidance it gives to clients wanting companies to decarbonise faster, s[...]
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US insurers brace for Idalia claims, UBS estimates $9.36 billion cost in Florida
By Noor Zainab Hussain, Chibuike Oguh and Jonathan Stempel (Reuters) -Insurers were expected to face claims for billions of dollars from Hurricane Idalia which made landfall in Florida on Wednesday, a[...]
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Chinese cities ease mortgage rules to revive property sector
BEIJING (Reuters) – Major Chinese cities have said they will allow people to take preferential loans for first-home purchases regardless of their credit records, in the latest move to help reviv[...]
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