PRAGUE, March 21 Reuters Czech utility CEZ expects to pay a record dividend on the back of soaring fullyear profit before new taxes and levies dent earnings this year. CEZ on Tuesday posted a record 78.4 billion crown 3.50 billion adjusted net profit for last year, a more than threefold rise over 2021, as energy markets […]

ZURICH, March 20 Reuters Credit Suisse and UBS could benefit from more than 260 billion Swiss francs 280 billion in state and central bank support, a third of the country39;s gross domestic product, as part of their merger to buffer Switzerland against global financial turmoil, documents outlining the deal show. Swiss authorities announced on Sunday that UBS had […]

March 16 Reuters Amgen Inc said on Thursday it would cut 450 jobs, or less than 2 of its workforce, making it the company39;s second round of layoffs this year amid intensifying pressure on drug prices and high inflation. We made these changes to realign our expense base in the face of intensifying pressure on drug […]

March 20 Reuters The Federal Deposit Insurance Corporation on Monday decided to break up Silicon Valley Bank SVB and hold two separate auctions for its traditional deposits unit and its private bank after failing to find a buyer for the failed lender last week. It will seek bids for Silicon Valley Private Bank until March […]

BENGALURU, March 17 Reuters Indian digital payments firm PhonePe said on Friday it has raised 200 million from majority backer Walmart Inc at a premoney valuation of 12 billion. PhonePe, already India39;s most valuable payments firm and among the country39;s most highlyvalued startups, said the investment is part of its ongoing fundraise of up to 1 […]

HONG KONG, March 17 Reuters Miamibased Citadel has kicked off 2023 with multiple senior hires in London and Hong Kong to beef up its international equities team, after the firm became the world39;s most profitable hedge fund in 2022, profile updates on LinkedIn show. At least five veteran investment and operational professionals recently joined the […]

MADRID, March 16 Reuters Asia was an outlier for Zara owner Inditex last year, the only region where profits fell as China faced COVID19 lockdowns, while profit ballooned in the Americas, the fashion retailer39;s annual report showed on Thursday. Inditex, the world39;s biggest fashion retailer, reported record annual sales on Wednesday. It has been expanding in the United […]

LONDON, March 16 Reuters Deliveroo, the British meal delivery company that saw demand boom during the pandemic, said it would make up to 50 million pounds 60 million in core earnings this year as it focuses on profitability in a tougher consumer environment. The 10year old company for the second half of 2022 reported adjusted […]

ZURICHFRANKFURT, March 15 Reuters Switzerland39;s central bank pledged on Wednesday to fund Credit Suisse with liquidity if necessary, a first for a global bank since the financial crisis more than a decade ago. In a joint statement with supervisor FINMA, they announced the radical step, but insisted that Credit Suisse was sound and meets the capital […]

MOSCOW, March 15 Reuters Italian bank Intesa Sanpaolo39;s Russian subsidiary saw profits more than six times higher in 2022 than the year before, independent audit documents showed, as Western sanctions on Russia39;s banking sector gave foreign lenders an unlikely boost. Foreign banks have stepped in to take business from Russian lenders who fell under sweeping Western […]