Appointment likely puts potential tieup with EFG on ice Shares rise following announcement Designation welcomed by analysts, new CEO still unknown quantity ZURICH, July 23 Reuters Julius Baer on Tuesday named Goldman Sachs partner Stefan Bollinger its new CEO, as the Swiss private bank seeks to move on from the multimillion dollar Signa debacle. Previous chief Philipp […]

July 23 Reuters Porsche AG cut its sales and profit outlook on Tuesday due to an unexpected aluminium alloy supply shortage, sending the German company39;s shares down 4 to the bottom of Frankfurt39;s bluechip index. Flooding at an unspecified European contractor has hurt supply of aluminium alloy, the luxury sports car maker said, affecting production of […]

LONDON, July 23 Reuters Spotify posted a record quarterly profit slightly ahead of analyst expectations on Tuesday, pushing its shares up more than 14 in premarket trading. The Swedish audiostreaming giant sought to reduce costs through layoffs and cuts to its marketing budget last year, while trying to grow its user base through promotions and new […]

CHICAGOLONDON, Reuters Record summer travel demand was tipped to translate into bumper earnings for airlines but quarterly reports are looking less than stellar. While plenty of customers are flocking to travel destinations worldwide, airlines are finding an excess supply of seats in the pricesensitive end of the market has forced them to discount fares to fill […]

SYDNEY, July 23 Reuters China39;s top companies have raised a record 14 billion in offshore convertible bonds so far this year as they diversify future funding needs while interest rates stay high. Offshore convertible bonds from mainland China accounted for 22 of global deals, LSEG data showed, after Alibaba Group raised 5 billion in May and […]

Bristol Myers Squibb, Sanofi looking at China MA employees AstraZeneca, Novartis have done China deals this year Political risks are a consideration analysts SHANGHAIHONG KONG, July 23 Reuters Some of the biggest global drugmakers, undeterred by mounting SinoU.S. tensions, are scouring for deals in China to replenish drug pipelines and boost their presence in the […]

Reuters Google is planning to keep thirdparty cookies in its Chrome browser, it said on Monday, after years of pledging to phase out the tiny packets of code meant to track users on the internet. The major reversal follows concerns from advertisers the company39;s biggest source of income saying the loss of cookies in the […]

Reuters Regional lender New York Community Bancorp said on Monday it had closed the sale of about 5.9 billion in mortgage warehouse loans to Wall Street giant JPMorgan Chase. The bank said it expects to close on an additional 200 million of mortgage warehouse loans in the near future, once necessary customer approvals are received. The […]

July 23 Reuters Equinix has acquired three data centers in the Philippines from Total Information Management to expand its presence in the high growth potential region of Southeast Asia, the global data center firm said on Tuesday. The U.S.based company, which has already established its presence in countries in the region such as Indonesia and Malaysia, […]

MANILA, July 23 Reuters The Philippines39; gaming regulator said on Tuesday it will cancel the licenses of offshore gambling firms and work with law enforcement agencies to implement President Ferdinand Marcos Jr39;s order of a total ban on the industry. In his State of the Nation address on Monday, Marcos said he was banning Philippine Offshore Gaming […]