L’Occitane Owner Said to Mull Buyout of $4.2 Billion Firm
L’Occitane International SA’s controlling shareholder is considering a move to take the skin-care company private, people with knowledge
2023-07-26 09:53
Oil prices ease after build in U.S. crude stockpiles
By Yuka Obayashi TOKYO Oil prices eased on Wednesday, sliding from three-month highs hit the previous day after
2023-07-26 09:25
Ouster of Xi’s Handpicked Foreign Minister Halts Rising Career
As foreign minister, China’s Qin Gang was expected to usher in an era of diplomacy that would help
2023-07-26 09:19
Chip Heavyweight Hynix’s Revenue Beats as AI Lifts Memory Demand
SK Hynix Inc. reported better-than-expected revenue, declaring the memory chip market is recovering because of surging interest in
2023-07-26 08:26
Limited support for central bank digital currencies in global investment industry survey
By Marc Jones LONDON The most comprehensive survey of the global investment industry on central bank digital currencies
2023-07-26 08:15
Tottenham owner Joe Lewis indicted in the US for ‘brazen insider trading scheme’
Tottenham owner Joe Lewis has been indicted in New York for “orchestrating a brazen insider trading scheme”, a US attorney said. Damian Williams, the US attorney for the Southern District of New York, said in a video released by his office: “Today I’m announcing that my office, the Southern District of New York, has indicted Joe Lewis, the British billionaire, for orchestrating a brazen insider trading scheme. “We allege that for years Joe Lewis abused his access to corporate boardrooms and repeatedly provided inside information to his romantic partners, his personal assistants, his private pilots and his friends. “Those folks then traded on that inside information and made millions of dollars in the stock market, because thanks to Lewis those bets were a sure thing.” Mr Williams described Lewis’s behaviour as “classic corporate corruption”. He said: “Now, none of this was necessary. Joe Lewis is a wealthy man. But as we allege, he used inside information as a way to compensate his employees or to shower gifts on his friends and lovers. “That’s classic corporate corruption. It’s cheating, and it’s against the law. Laws that apply to everyone, no matter who you are. “That’s why Joe Lewis has been indicted and will face justice here in the Southern District of New York.” Lewis, 86, is the founder and primary investor of Bahamas-based investment firm Tavistock Group. He bought a controlling stake in the Premier League club from Lord Sugar in 2001 for £22million.
2023-07-26 07:52
Microsoft’s Azure Slowdown Overshadows Optimism About AI Growth
Microsoft Corp. posted tepid quarterly sales growth and forecast a continued slowdown in its Azure cloud-services business, overshadowing
2023-07-26 07:51
San Francisco’s Office Demand Surges, Largely Thanks to AI Companies
The worst of San Francisco’s office pain is showing signs of easing. Demand for offices in the city
2023-07-26 07:45
Puerto Rican bank sues NY Fed for suspending account in Venezuela-linked crackdown
By Luc Cohen NEW YORK The New York Federal Reserve was sued on Tuesday by a Puerto Rican
2023-07-26 07:20
Asian Stocks Set for Muted Open Before Fed Meeting: Markets Wrap
Asian markets are likely to be subdued Wednesday as investors await the Federal Reserve’s rate decision, with equity
2023-07-26 06:57
Wells Fargo approves new $30 billion share buyback program
Wells Fargo said on Tuesday its board had authorized a new share buyback program of up to $30
2023-07-26 05:51
Purdue Pharma bankruptcy can proceed despite potential US Supreme Court appeal
By Dietrich Knauth NEW YORK OxyContin maker Purdue Pharma may proceed with a bankruptcy settlement that protects its
2023-07-26 05:51