Business

May 29 (Reuters) – Australia’s AMP (AMP.AX) said on Monday Blair Vernon will take over from Peter Fredricson as its chief financial officer and will dissolve the structure of its local wealth management arm in a bid to simplify its operational model.Shares of the 174-year-old wealth manager traded 1.4% higher as at 0224 GMT, marking… […]

HOUSTON, May 29 (Reuters) – Oil prices edged higher in choppy trading on Monday, as markets weighed a tentative U.S. debt ceiling deal that would avert a default by the world’s top oil consumer against further Federal Reserve interest rate hikes that could curb energy demand.Brent crude futures settled up 12 cents, or 0.2%, to… […]

May 28 (Reuters) – Boeing Co (BA.N) is working on a deal to sell at least 150 737 Max jetliners to Saudi Arabian startup Riyadh Air, Bloomberg News reported on Sunday.The new carrier, wholly owned by Saudi Arabia’s Public Investment Fund (PIF), is looking for about 300 to 400 single-aisle jets in total, the report… […]

SEOUL, May 29 (Reuters) – South Korea is using a $13.7 billion arms deal with Poland – Seoul’s biggest ever – to lay the groundwork for a military-industrial juggernaut that the two nations’ defence companies hope will feed Europe’s hunger for weapons far into the future.South Korea’s arms sales jumped to more than $17 billion… […]

LONDON, May 25 (Reuters Breakingviews) – Bank watchdogs are mulling changes to deposit insurance schemes after a string of lenders failed. Yet one of the most promising fixes has little to do with insurance, or even deposits. Forcing more U.S. banks to fund more of their loans and investments by issuing long-term debt, and relatively… […]

SYDNEY, May 27 (Reuters) – Pacific island leaders will meet South Korea’s President Yoon Suk Yeol in Seoul on Monday, their third summit in a week with a large economy as the region seeks stronger action on climate change as it becomes a focus of geopolitical power attention.The Pacific islands span 40 million square kilometres… […]

May 27 (Reuters) – British engine maker Rolls-Royce (RR.L) has made no decisions regarding changes to its workforce, a company spokesperson said on Saturday, after a Sunday Times report said the company was expected to cut about 3,000 non-manufacturing staff.The Sunday Times report added that chief executive Tufan Erginbilgic has hired consultants led by McKinsey… […]

[1/2] Google Home smart speakers, which respond to consumer’s voice commands to control devices in the home or to answer questions out loud about topics including the weather, news or local services, in shown in San Francisco, California, U.S., March 28, 2019. REUTERS/Paresh DaveMay 26 (Reuters) – Alphabet Inc’s (GOOGL.O) Google must pay $32.5 million… […]

May 26 (Reuters) – German airline group Lufthansa (LHAG.DE) on Friday said its goal was to take over Italian carrier ITA Airways in full, but it could not be forced to do so, after it announced it was taking on a minority stake on Thursday.Lufthansa will take a 41% stake in ITA Airways by way… […]

[1/2] A Tesla vehicle is charged at a Tesla supercharging station in Kettleman City, California, U.S., January 25, 2023. REUTERS/Mike Blake/File PhotoMay 26 (Reuters) – Ford Motor Co (F.N) shares jumped by more than 7% on Friday after the No. 2 U.S. automaker announced a deal allowing its electric-vehicle owners to access rival Tesla Inc’s… […]