ZURICH, June 12 Reuters Swiss financial regulator FINMA has specified the central elements of its regulatory requirements for the merged UBS and Credit Suisse, it said on Monday. The regulator also said it welcomes UBS39;s strategic focus, which foresees a rapid reduction of risk in investment banking, in a statement after UBS formally completed its emergency takeover of its stricken […]

SHANGHAI, June 12 Reuters Nio said on Monday it would lower prices for all its models and end free battery swapping services to new buyers, as the Chinese electric vehicle maker faces mounting pressure over earnings losses and lukewarm sales. Nio will cut prices by 30,000 yuan 4,200 for all models including its revamped ES6 and […]

June 12 Reuters Australian lender Westpac Banking Corp will cut around 300 jobs in its consumer and business banking segments at a time of strong profit growth amid rising interest rates and soaring inflation, a local trade body said. The Finance Sector Union of Australia FSU said on Friday the country39;s thirdlargest bank would reduce […]

NEW DELHIHONG KONG, June 8 Reuters Nomura Holdings39; India Head of Investment Banking Utpal Oza has stepped down from the firm, sources with direct knowledge of the matter told Reuters. Oza has left for career retirement, said one of the sources. Amit Thawani, managing director and head of coverage investment banking has taken over from Oza, […]

COPENHAGEN, June 12 Reuters Danish drugmaker Novo Nordisk will invest 15.9 billion Danish crowns 2.29 billion to expand a production facility in Denmark for products to treat serious chronic diseases, the company said in a statement on Monday. The existing facility produces active pharmaceutical ingredient API, the main biologically active components of medicines, and will be […]

LONDON, June 12 Reuters Glencore on Monday offered to buy Teck Resources39; steelmaking coal business as a standalone unit, after the Canadian miner twice rebuffed its 22.5 billon offer to combine the two companies. Teck Resources said on June 6 it had received several proposals for its coal business, as it reworks a plan to split it from its […]

MUMBAI, June 9 Reuters India39;s HDFC Bank Ltd will keep home loans at the centre of its growth strategy after a merger with HDFC Ltd is concluded, with such credit likely to make up nearly a third of the bank39;s portfolio going forward, two senior officials at the group said. The pace of growth in home […]

Reuters GameStop fell about 19 on Thursday and was set for its worst session in two years after the surprise exit of a CEO handpicked to lead its online expansion fanned concerns about the videogame retailer39;s ailing business. The ousting of former Amazon.com executive Matt Furlong came alongside top shareholder Ryan Cohen39;s appointment as the executive […]

June 8 Reuters General Motors will join Ford in adopting Tesla39;s North American charging plug standard and give GM electricvehicle buyers access to the Tesla Supercharger network under an agreement announced on Thursday. GM39;s move, which follows a similar decision by Ford to embrace Tesla39;s charging plug standard, means three of the top EV sellers in the North American […]

BEIJING, June 9 Reuters BYD announced on Friday a new brand of electric vehicles EV ranging from offroad to sports cars as the company looks to meet more diversified consumer demand. The new brand is called Fang Cheng Bao, which translates from Chinese literally as Formula and Leopard. The Chinese EV giant is expected to […]