Business

Danone confirms ousting of Faber as chairman and CEO after activist pressure

The board of French food group Danone said on Monday that Emmanuel Faber would step down as chairman and CEO, adding that Gilles Schnepp, who joined as a director late last year, had been appointed non-executive chairman with immediate effect. Danone had come under pressure in recent months from several shareholders, including investment fund Artisan […]

Business

Week of the central banks

1/ TIME TO PUSH BACK? After a stunning selloff in U.S. Treasuries took benchmark 10-year yields above 1.6%, the highest in a year, the March 16-17 Federal Reserve meeting will be watched closely for hints policymakers are concerned about yields, asset bubbles and inflation. A repricing of market interest rate expectations to anticipate a Fed […]

Business

Deliveroo aims to sell $1.4 billion of new shares in upcoming IPO

Deliveroo said on Monday that it plans to sell around 1 billion pounds ($1.39 billion) of new shares in its upcoming initial public offering (IPO), as it began marketing what is expected to be the biggest London listing in more than seven years. The British food delivery company, which is backed by Amazon, said its […]

Business

Court ruling suspends U.S. ban on investment in Xiaomi

A U.S. federal judge on Friday temporarily blocked the Department of Defense from forcing American investors to divest from Chinese smartphone maker Xiaomi Corp on the grounds the company has ties to China’s military. The Defense Department, under the Trump administration in mid-January, added Xiaomi and eight other firms to a list that requires Americans […]

Business

ABN Amro shares fall on concerns about size of possible money laundering fine

ABN Amro shares fell 4% in early trading in Amsterdam on Monday, following reports that the Dutch bank might face a higher-than-expected penalty in an ongoing money laundering investigation. The bank’s annual report published last week described an investigation by Dutch prosecutors, started in September 2019, which was broader than previously stated. It said it […]

Business

Microsoft could reap more than $150 million in new U.S. cyber spending, upsetting some lawmakers

Microsoft stands to receive nearly a quarter of Covid relief funds destined for U.S. cybersecurity defenders, sources said, angering some lawmakers who don’t want to increase funding for a company whose software was recently at the heart of two big hacks. Congress allocated the funds at issue in the COVID relief bill signed on Thursday […]

Business

China’s factories, consumers drive recovery into 2021

China’s factory and retail sector activity surged in the first two months of the year, beating expectations, as the economy consolidated its brisk recovery from the coronavirus paralysis of early 2020. While the impressive set of numbers released on Monday were heavily skewed by the very low base from last year’s massive slump, analysts said […]