Business

Verdi Union opposes Commerzbank’s potential cross-border merger, regardless of bidder nationality

German trade union Verdi would oppose a cross-border merger for Commerzbank even if the bidder was not an Italian bank like UniCredit, an official...

Russia corporate bankruptcies soaring as sanctions starting to bite

Russian businesses are facing increasing financial distress with a record increase in the number of companies going bankrupt at the start of 2024, the...

Insurer Travelers grows Q4 profits on underwriting gains and lower cat losses.

In a strong finish to the year, Travelers Companies announces a significant increase in fourth-quarter profit on Friday, sending its stock 6.7% higher at...

Amazon wins €250M tax fight with the EU

US ecommerce giant Amazon doesn’t have to pay a €250 million euros (roughly $270 million) penalty in back taxes after a favorable ruling from...

Binance falls, pays $4.3B fines over failures to prevent money laundering

The world’s largest cryptocurrency exchange, Binance.com, has pleaded guilty to multiple federal charges and has agreed to pay over $4 billion, according to the...

Italy judge seizes $835M from Airbnb in tax probe

Italy’s financial police on Monday seized more than $835 million from accommodation-sharing service Airbnb for alleged tax evasion, according to a report from Reuters. It...

Cisco buys cybersecurity Splunk for $28 billion in cash

Cisco Systems is set to buy cybersecurity firm Splunk in a deal worth $28 billion, the company said Thursday. This will be Cisco's biggest-ever...

French supermarket chain Carrefour sticks price warnings on food to shame suppliers

French grocery chain Carrefour has started to add warning labels on products that have changed due to “shrinkflation” — a phenomenon where manufacturers reduce...

Birmingham, UK’s second-largest city declares bankruptcy

Birmingham city council which serves more than 1 million people has declared itself "effectively bankrupt" amid “unprecedented financial challenges”. The council announced on Tuesday that...

Defective airbags: US transport agency urges recall of 67 million airbag parts

The US government’s transportation safety agency has demanded the recall of 67 million airbag inflators after finding they could rupture and injure motorists, Reuters...
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