CHICAGO, June 5 (Reuters) – The Association of Professional Flight Attendants (APFA), which represents over 23,000 American flight attendants, said on Wednesday that it unanimously rejects the latest proposal from American Airlines (AAL.O), opens new tab. The airline had offered its flights attendants immediate wage increases of 17% and a new formula for higher profit sharing […]
June 6 (Reuters) – Dolby Laboratories (DLB.N), opens new tab said on Thursday it was acquiring GE Licensing, an intellectual property business targeting the consumer digital media and electronics sectors, in a $429 million deal. The takeover, which aims to further Dolby’s existing licensing businesses, comprises over 5,000 GE patents. However, it excludes aerospace and defense IPs […]
LONDON — Enterprise tech giant Salesforce is opening an artificial intelligence center in London, making a bullish bet on the U.K. as a global technology hub. The U.S. software giant said in a statement Thursday that it is opening a more-than-40,000-square-foot facility in London’s Blue Fin Building, which can host over 300 people. It will be used […]
Hindalco-backed aluminum recycling company Novelis has postponed its U.S. listing of over $900 million, citing market conditions. “Novelis will continue to evaluate the timing of the offering in the future,” the company said late Tuesday, without elaborating further. Source: WSJ
SYDNEY, June 5 (Reuters) – The Australian government on Wednesday introduced legislation that would require buy-now-pay-later (BNPL) firms to run credit checks on borrowers, aiming to regulate the rapidly growing sector popular among youth like other consumer credit products. BNPL companies typically offer on-the-spot interest-free short-term loans with minimal credit checks that spread payments over […]
U.S. ignored evidence major U.K. bank was helping fund sanctioned Iranian groups, whistleblower says
Recent documents submitted to a U.S. federal court allege that major British bank Standard Chartered helped finance sanctioned Iranian entities and terrorist groups, and that relevant evidence was ignored by American authorities. London-based Standard Chartered, which primarily serves clients in emerging markets, was previously punished with more than a combined $1.7 billion in fines after admitting in 2012 and 2019 […]
BRUSSELS, June 4 (Reuters) – European Union finance ministers will hold a videoconference on Wednesday on a G7 proposal to leverage Russian central bank assets immobilised in the West to allow Kyiv swiftly to receive a loan of around $50 billion, senior euro zone officials said. The size of the loan has not yet been […]
SHANGHAI, June 5 (Reuters) – The Shanghai and Shenzhen stock exchanges are considering suspending certain value-added market data feeds to institutions such as computer-driven quant funds, two sources said in an effort by Chinese regulators to tighten scrutiny of a sector blamed for contributing to market volatility. The bourses may suspend providing granular transaction details […]
Tencent-backed artificial intelligence (AI) drug researcher QuantumPharm is raising up to HK$1.13 billion (US$144.5 million) in a Hong Kong initial public offering (IPO) from Tuesday, eyeing the first listing under a new regime for pre-revenue specialist technology firms that was introduced more than a year ago. The Shenzhen-headquartered company, also known as XtalPi, is offering […]
A look at the day ahead in U.S. and global markets from Mike Dolan With a still-powerful “buy the dip” instinct in stocks, U.S. markets are having a rare bout of jitters about a slowing economy – with Treasury yields, the dollar and oil prices all swooning over the past 24 hours. Wall Street’s tech-led “bounce-ability” was […]