Author: Daniel snow
Andrea Orcel, chief executive officer of Unicredit, in London, UK, on Thursday, Nov. 23, 2023. Bloomberg | Bloomberg | Getty ImagesUniCredit CEO Andrea Orcel on Wednesday told CNBC that the share price of potential takeover target Commerzbank is currently too prohibitively expensive for a merger deal.UniCredit has built a surprise stake in Commerzbank of 28% since September through derivatives and has the European Central Bank’s authorization to hold up to 29.9% in the lender.When asked by CNBC’s Annette Weisbach whether the Italian bank would proceed with an acquisition offer at premium to Commerzbank’s current share value, Orcel said, “At this [share]…
A decade ago, 25,000 workers and customers boycotted the New England grocery chain to save their beloved CEO. Might history repeat? Source link
In an early hours post on Wednesday, Tesla CEO said his criticism of President Donald Trump — which included an allegation that the president’s name was in unreleased files about convicted sex-trafficker Jeffrey Epstein — “went too far.” Source link
(COMBO) This combination of pictures created on June 5, 2025 shows US President Donald Trump in the Oval Office of the White House, in Washington, DC, on May 5, 2025 and Elon Musk in the Oval Office of the White House in Washington, DC, on May 30, 2025. Alex Wroblewski | Afp | Getty ImagesTech billionaire Elon Musk on Wednesday said he regretted some of the social media posts he made about U.S. President Donald Trump last week during an explosive public dispute with his formerly close ally.The feud dissolved a tight partnership that had propelled Musk to spearhead the…
U.S. dollar bill.Catherine Mcqueen | Moment | Getty ImagesAsia’s shift away from the U.S. dollar is ramping up. A mix of geopolitical uncertainties, monetary shifts, and currency hedging is prompting a meaningful move toward de-dollarization across the region.”Trump’s erratic trade policy decisions and the dollar’s sharp depreciation are probably encouraging a more rapid shift towards other currencies,” said Francesco Pesole, FX strategist at ING.While the U.S. dollar continues to dominate global foreign exchange reserves, the share of the greenback has declined from more than 70% in 2000 to 57.8% in 2024. More recently, the greenback also saw a steep selloff this…
“Rapid skills change and knowledge turnover may mean formal degrees are more rapidly out of date,” according to PwC’s 2025 Global AI Jobs Barometer report.Nd3000 | Istock | Getty ImagesEmployer demand for formal degrees is declining for all jobs, but more quickly for jobs exposed to artificial intelligence, according to the 2025 AI Jobs Barometer report by professional services firm PwC published last week.”AI helps people rapidly build and command expert knowledge … which could make formal qualifications less relevant,” according to the report which analyzed close to a billion job ads and thousands of company financial reports across six continents.The technology…
The Zara lettering can be seen on the façade above the entrance to a branch of the fashion brand in the city center of Nuremberg (Bavaria) on March 6, 2025.Picture Alliance | Getty ImagesZara owner Inditex on Wednesday posted weaker-than-expected quarterly sales while flagging a slower start to the summer season than last year amid broader economic uncertainty.The Spanish retailer reported revenues of 8.27 billion euros ($9.44 billion) in the fiscal first quarter covering Feb. 1 to April 30, slightly shy of the 8.39 billion euros forecast by LSEG analysts.Net income came in at 1.3 billion euros for the quarter, compared to the 1.32…
Nintendo Switch 2 controllers are displayed during at the Nintendo New York store on June 4, 2025, for a launch event ahead of the video game hybrid console’s midnight release. David Dee Delgado | AFP | Getty ImagesNintendo sold more than 3.5 million units of its flagship Switch 2 gaming system in the four days following its launch, a record-breaking start for the company’s first new console in eight years. The sales figures, reported by the Japanese multinational video-game company on Wednesday, put it on the path to realizing its aim of selling 15 million units of the Switch 2 console…
Asia FX, dollar steady as markets assess US-China trade framework deal Source link
Tesla Inc.’s robotaxi service is tentatively set to start picking up its first passengers in Austin, Texas, on June 22, Chief Executive Elon Musk said Tuesday night. Source link