Chinese tech giant Huawei said Wednesday that its revenues dropped sharply in the first quarter as U.S. sanctions took a toll on its business. Huaweis revenues fell 16.5 yearonyear to 152.2 billion Chinese yuan 23.5 billion in the three months ending March 31, according to unaudited financial results revealed by the company on Wednesday. It […]

April 29 Reuters Struggling Canadian tour operator Transat AT said on Thursday it would borrow up to C700 million 569.71 million from the Canadian government and use a portion of the funds to reimburse customers whose travel plans had to be canceled. The news comes barely a day after Reuters reported that Transat was close […]

MOSCOW, April 29 Reuters Russias Sberbank made a record profit in the first quarter of 2021, more than doubling year on year thanks to lower provisions against bad loans, prompting the bank to raise its profitability forecast. Last year Russias biggest bank missed its prepandemic target with a 10 decline in net profit owing to […]

STOCKHOLM, April 29 Reuters Corporate travel bookings platform TravelPerk on Thursday said it had raised 160 million from a group of investors led by venture firm Greyhound Capital as it seeks to expand in the U.S. and Europe. The Barcelonabased company, which has so far raised 294 million, did not disclose its valuation after the […]

MOSCOW, April 29 Reuters Yandex said on Thursday it had agreed to buy midsized bank Acropol for 1.1 billion roubles 14.8 million, a move that will secure a banking licence for the Russian internet company so that it can develop financial services. Yandex has sought a means to develop its fintech offering after its split […]

PARIS, April 29 Reuters The Pegasus Europe special purpose acquisition vehicle SPAC launched by Tikehau Capital and others including financier JeanPierre Mustier, has raised 500 million euros 606 million, the parties involved said. A SPAC is a shell company that raises money in an initial public offering IPO to merge with a privately held company, […]

OSLO, April 29 Reuters Norways Equinor raised its dividend and posted a biggerthanexpected rise in firstquarter operating profits on Thursday, boosted by higher oil and gas prices as well as large oneoff gains at its renewable energy business. It will pay a dividend of 0.15 per share for the quarter, up from 0.12 paid for […]

AMSTERDAM Reuters MessageBird, one of Europes fastestgrowing software companies, said on Wednesday it had agreed to buy email giant SparkPost for 600 million in a deal that will increase its sales by around 50 and expand its client base in the United States. MessageBird also announced one of the largest financing rounds for a European […]

STOCKHOLM, April 28 Reuters Swedish bank SEB reported a betterthanexpected net profit for the first quarter on Wednesday after it slashed provisions for bad debts amid an improving economic outlook and tapped into a boom in trading on markets. Over the last year Swedens banks, some of the best capitalised in the world, have defied […]

LONDON, April 27 Reuters London Stock Exchange Group shareholders should reject a 25 pay rise for CEO David Schwimmer because of higherthanexpected costs for integrating the 27 billion acquisition of Refinitiv, a shareholder advisory service said. The exchange holds its annual shareholder meeting on Wednesday and reports quarterly earnings. Institutional Shareholder Services ISS said concerns […]