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May 23, 2022

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U.S. Southern Baptists release scathing report on sexual abuse

Reuters
ATLANTA, May 22 (Reuters) – For decades, complaints of sex abuse by pastors and staff in the largest U.S. Protestant denomination, the Southern Baptist Convention, were either ignored or covered up by top clergy, according to an internal report released on Sunday. The nearly 300-page report details how complaints were......

Swiss Re, UBS among founding buyers in carbon removal scheme

Reuters
LONDON, May 23 (Reuters) – Insurance firm Swiss Re (SRENH.S) and banking giant UBS (UBSG.S) are among five founding buyers of credits from a scheme set up by a Swiss company to drive down the cost of taking carbon dioxide out of the atmosphere. Even with pledges of huge reductions......

Computer chip giant ASML places big bets on a tiny future

Reuters
VELDHOVEN, Netherlands, May 20 (Reuters) – ASML (ASML.AS), a semiconductor industry and stock market giant, has to think smaller. Or maybe bigger. It is building machines the size of double-decker buses, weighing over 200 tonnes, in its quest to produce beams of focused light that create the microscopic circuitry on......

Credit Suisse hires Barclays banker to run Iberia investment banking

Reuters
Logo of Swiss bank Credit Suisse is seen at a branch office in Bern, Switzerland May 2, 2022. REUTERS/Arnd Wiegmann Register now for FREE unlimited access to Reuters.com Register LONDON, May 20 (Reuters) – Credit Suisse has hired a senior Barclays dealmaker to lead its investment banking business in Spain......

Musk says ‘Tesla is on my mind 24/7’ amid concerns about Twitter distraction

Reuters
SAN FRANCISCO, May 19 (Reuters) – Tesla (TSLA.O) CEO Elon Musk said on Thursday that “Tesla is on my mind 24/7,” trying to soothe investor worries about him being distracted by a Twitter (TWTR.N) deal that has depressed stocks at the electric car company. Posting a picture showing a woman......

Euronav shareholders signal support for Frontline merger

Reuters
May 19 (Reuters) – Belgian oil tanker and storage operator Euronav (EUAV.BR) said on Thursday it had received “a clear signal” from shareholders in support of its proposed $4.2-billion merger with smaller Oslo-listed rival Frontline (FRO.OL). Since the announcement on April 7 of the planned merger, Euronav has clashed with......

Tesla cut from S&P 500 ESG Index, and Elon Musk tweets his fury

Reuters
May 18 (Reuters) – An S&P Dow Jones Indices executive told Reuters on Wednesday it has removed electric carmaker Tesla Inc (TSLA.O) from the widely followed S&P 500 ESG Index (.SPXESUP)because of issues including claims of racial discrimination and crashes linked to its autopilot vehicles, and Tesla CEO Elon Musk......

Kohl’s loses two senior executives as it looks for a buyer

Reuters
The sign outside a Kohl’s store is seen in Broomfield, Colorado February 27, 2014. REUTERS/Rick Wilking Register now for FREE unlimited access to Reuters.com Register May 18 (Reuters) – Kohl’s Corp (KSS.N) said on Wednesday two of its senior executives are stepping down from their roles, as the U.S. department......

Four countries pledge tenfold rise in EU offshore wind power capacity

Reuters
A fishing boat sails in front of wind turbines through the Thyboron Canal in Jutland, Denmark, March 14, 2019. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register ESBJERG PORT, Denmark, May 18 (Reuters) – Germany, Belgium, the Netherlands and Denmark on Wednesday pledged to build at least......

China Vice Premier Liu soothes tech firms, supports overseas listings

Reuters
China’s Vice Premier Liu He exits the office of the U.S. Trade Representative following a morning round of negotiations on the second day of last ditch trade talks in Washington, U.S., May 10, 2019. REUTERS/Leah Millis/Files Register now for FREE unlimited access to Reuters.com Register SHANGHAI, May 17 (Reuters) –......

Climate change is hurting insurers, report says

Reuters
LONDON, May 17 (Reuters) – Climate change is hurting the insurance industry and only 8% of insurers are preparing adequately for its impact, consultants Capgemini and financial industry body Efma said in a report on Tuesday. Insured losses from natural catastrophes have increased 250% in the last 30 years, with......

Allianz to pay $6 billion in U.S. fraud case, fund manager charged

Reuters
NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its U.S. asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the U.S. Department of......

JetBlue launches hostile takeover bid for Spirit Airlines

Reuters
May 16 (Reuters) – JetBlue Airways Corp (JBLU.O) on Monday commenced a hostile all-cash takeover bid for Spirit Airlines Inc (SAVE.N), two weeks after the discount carrier rejected an offer from the larger rival. JetBlue, which in early April offered $33 per share, is locked in a takeover battle for......

Funeral services firm Dignity names industry veteran Kate Davidson as CEO

Reuters
May 16 (Reuters) – UK funeral services provider Dignity Plc (DTY.L) said on Monday it appointed industry veteran Kate Davidson as its chief executive officer, just months after she joined the board. Davidson will have her hands full once she takes up the top role on June 10 as the......

OMV says Deputy CEO Pleininger to leave his post at oil and gas company

Reuters
OMV executive board member Johann Pleininger gestures during an interview with Reuters in Vienna, Austria, September 5, 2018. Picture taken September 5, 2018. REUTERS/Alexander Schwarz-Goerlich Register now for FREE unlimited access to Reuters.com Register ZURICH, May 14 (Reuters) – OMV (OMVV.VI) will not extend Deputy Chief Executive Johann Pleininger’s contract,......

Crypto exchange FTX CEO reveals stake in trading app Robinhood

Reuters
The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly Register now for FREE unlimited access to Reuters.com Register May 12 (Reuters) – Samuel Bankman-Fried, the chief executive and founder of......

Britain to shake up audit market after Carillion crash

Reuters
A combination of file pictures shows logos of accounting firms PwC, Deloitte, KPMG and EY. REUTERS/File Photo Register now for FREE unlimited access to Reuters.com Register LONDON, May 10 (Reuters) – Britain set out long-awaited plans on Tuesday for a new accounting watchdog to shake up the audit market four......

Egan-Jones backs 4 of Macellum’s dissident board director candidates at Kohl’s

Reuters
The logo and trading informations for Kohl’s is displayed on a screen on the floor at the New York Stock Exchange (NYSE) in New York, U.S., January 13, 2020. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 9 (Reuters) – Proxy advisory firm Egan-Jones......

Suncor CEO Little faces scrutiny after activist Elliott takes aim

Reuters
May 8 (Reuters) – Three months ago Mark Little, the chief executive of Canadian oil and gas major Suncor Energy (SU.TO), issued a mea culpa. In January two trucks had crashed at an oil sands mine in northern Alberta, killing one person. This raised the number of on-the-job fatalities at......

Global scramble for metals thrusts Africa into mining spotlight

Reuters
A truck exits the mine after collecting ore from 516 metres below the surface at the Chibuluma copper mine in the Zambian copperbelt region, January 17, 2015. REUTERS/Rogan Ward/File Photo Register now for FREE unlimited access to Reuters.com Register JOHANNESBURG, May 8 (Reuters) – The need to secure new sources......

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