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Russia struggles to sell Pacific oil, 14 tankers stuck
Reuters Reuters exclusively reported that more than a dozen tankers loaded with 10 million barrels of Russia’s Sokol grade crude oil have been stranded off the coast of South Korea for weeks, so far unsold due to U.S. sanctions and payment issues, according to two traders and shipping data. The post Russia struggles to sell…
Read MoreUS Fund KPS explored takeover offer for UK Elementis
Reuters Reuters exclusively reported that KPS Capital Partners recently explored a bid for UK specialty chemicals maker Elementis (ELM.L), but has since paused its work. The New York-based private equity firm in December submitted an offer valuing the FTSE 250 company at about 160p per share, but the Elementis board wanted around 180p. The post…
Read MoreLloyds to cut around 1,600 branch jobs in digital switch
Reuters Reuters exclusively reported that Britain’s biggest domestic bank Lloyds was cutting around 1,600 roles across its branch network, part of a renewed push by lenders to axe costs as tough economic conditions and pressure on margins prompt them to tighten their belts. It is the latest in a string of deep cuts made by…
Read MoreIn Russia, anti-war candidate tries to harness protest vote against Putin
Reuters Reuters exclusively reported that Boris Nadezhdin, a 60-year-old former opposition lawmaker, is running a long-shot campaign to challenge Vladimir Putin for the Russian presidency. Nadezhdin says his call to end Russia’s war in Ukraine has put rocket boosters under his bid. The post In Russia, anti-war candidate tries to harness protest vote against Putin …
Read MoreOrange and MasMovil’s Spanish deal set for EU antitrust nod
Reuters Reuters exclusively reported that French telecoms group Orange (ORAN.PA), opens new tab and Spanish rival MasMovil are set to gain conditional EU antitrust approval for their Spanish tie-up. The story was picked up by Bloomberg, Seeking Alpha, MarketScreener, Telecompaper, Mobile Europe, ET Telecom, Street Insider and numerous telecoms and financial services publications. The post…
Read MoreWorldline taps advisers for defence strategy amid share slump
Reuters Reuters was first to report that Worldline (WLN.PA), opens new tab has lined up bankers to advise on a defence strategy in a bid to reassure shareholders and avoid a hostile takeover in the wake of a share price slump. The post Worldline taps advisers for defence strategy amid share slump appeared first on…
Read MoreHow Swiss authorities bungled Credit Suisse oversight
Reuters Reuters exclusively reported that about six months before Credit Suisse was sold to rival UBS in a weekend rescue, the head of the Swiss central bank wanted to inject 50 billion Swiss francs ($57.6 billion) into the lender and nationalise it. But Switzerland’s financial regulator FINMA and the finance ministry opposed the idea, as…
Read MoreUkraine’s maritime grain exports to fall 20% m/m in January
Reuters Reuters exclusively reported that Ukrainian maritime grain exports are expected to fall by around 20% in January from the previous month due to the crisis in the Red Sea and the New Year holidays, a senior Ukrainian government official said on Thursday. The post Ukraine’s maritime grain exports to fall 20% m/m in January …
Read MoreECB sounds out lenders on exposure to Spanish drugmaker Grifols
Reuters Reuters exclusively reported that the European Central Bank was asking banks to detail their exposure to Spanish drugmaker Grifols and a network of companies linked to the founding family, days after the Barcelona-based business was accused of manipulating its financial accounts by a short-seller. The story also revealed how supervisors were concerned that the…
Read MoreTesla Berlin to stop most output for two weeks due to Red Sea disruption
Reuters Reuters exclusively reported that Tesla (TSLA.O) will suspend most car production at its factory near Berlin from Jan. 29 to Feb. 11, the company said late on Thursday, citing a lack of components owing to shifts in transport routes because of attacks on vessels in the Red Sea. It is the first company to…
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