Telecoms equipment maker Nokia is pulling out of the Russian market, its CEO told Reuters, going a step further than rival Ericsson, which said on Monday it was indefinitely suspending its business in the country. Hundreds of foreign companies are cutting ties with Russia following its Feb. 24 invasion of Ukraine and after Western sanctions […]
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Rio Tinto, General Motors and even the U.S. Energy Department are investing heavily in a crop of newer technologies that could revolutionize the way lithium is produced for electric vehicle batteries. Now those technologies just have to prove they work on a commercial scale. If they do, miners will be able to boost global lithium […]
Twitter Inc said on Tuesday it will offer Elon Musk a seat on its board of directors, a position the Tesla boss and entrepreneur plans to use to bring about significant improvements at the social media site after disclosing a sizeable holding. Musk reported in a regulatory filing on Monday that he had amassed a […]
As we bid 2021 farewell, the takeaway from this eventful year is that we should learn to cling to the wave of change that accompanies the human race and, with it, the wave of endless innovations. 2021 came, and along came the never-ending opportunities of financial innovation to evolve as a race and clutch to […]
JPMorgan boss Jamie Dimon warned on Monday that the bank could lose about $1 billion on its Russia exposure, the first time it has detailed the extent of its potential losses resulting from the conflict in Ukraine. In his keenly watched annual letter to shareholders, the chairman and chief executive of the biggest U.S. bank […]
European shares rose slightly after early sluggishness on Friday, as a rally in bank stocks helped outweigh worries about economic growth and inflation, with Europe facing a deadline to start paying for Russian gas in roubles.Russian President Vladimir Putin threatened to cut off gas supplies unless paid in local currency from April 1 — a […]
French agribusiness group InVivo has entered exclusive negotiations to merge its retail activities with 2MX Organic, an acquisition vehicle backed by French telecoms billionaire Xavier Niel, the companies said on Thursday. The planned deal is based on a 675 million euro ($748 million) enterprise value for InVivo Retail, they said. The business would become a […]
Investors sent Toshiba Corp shares sharply higher on Friday as they bet the Japanese conglomerate could become the target of a bidding war after Bain Capital sounded out shareholders about a possible buyout. The stock jumped 6.7 percent in morning Tokyo trade on expectations that global private equity firms could be lining up to take […]
Investors publicly rebuked Ericsson Chief Executive Borje Ekholm and the telecom equipment maker’s board on Tuesday over a scandal involving potential payments to Islamic State. Ekholm’s handling of an internal probe into Ericsson’s operations in Iraq has come under scrutiny after the U.S. Department of Justice (DoJ) said the company was in breach of a […]
Major Ericsson shareholders will vote against a motion to clear some board members of responsibility over possible payment of bribes to militant organisations in Iraq, deepening a crisis at the Swedish group that has knocked a quarter off its market value. Shareholders, including Cevian Capital, Swedbank Robur and Norway’s wealth fund, plan to vote against […]