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 […]

June 12 Reuters Novartis said it has agreed to acquire U.S. biotech firm Chinook Therapeutics for up to 3.5 billion to boost its latestage drug development lineup, raising the stakes in the race for a rare kidney disease treatment. Seattlebased Chinook39;s shareholders will receive 3.2 billion, or 40 per share, in cash under the agreed deal, plus […]

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 […]

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, […]

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 […]