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Tui's pandemic payback sets path for takeoff

Tui’s 1.8 billion euro capital raise releases it from government clutches and sets it up for brighter skies. The travel operator said on Friday it plans to issue new stock to raise 1.8 billion euros, at the high end of the 1.6 billion to 1.8 billion euros flagged in December by Chief Financial Officer Mathias Kiep. Like many travel companies Tui required funds to keep it afloat during the pandemic when holidays were cancelled and flights were grounded. The 2.7 billion euro company received a s...
Bruxelles Capitale Mathias Kiep Rebecca Christie Aimee Donnellan Oliver Taslic Thomson Reuters Trust Principles

Trustbusters pick fight that can make friends

After a year of fighting losing battles, one of the United States’ biggest trustbusters is taking on a fight where it will be easy to find support. The Federal Trade Commission proposed new rules on Thursday that would make canceling subscriptions less burdensome for consumers. The measures are sensible and offer obvious benefits to millions of Americans. Plus it could earn the FTC some brownie points.
United States Amanda Gomez Lauren Silva Laughlin Ben Winck Thomson Reuters Trust Principles Reuters Breakingviews

Microsoft's Activision sweet talk

Microsoft passed the first level of the UK’s antitrust game, convincing the country’s Competition and Markets Authority to drop one of its two main worries about the software giant’s $69 billion deal for video-game developer Activision Blizzard . The seller’s shares rose 5% on the news Friday, but hurdles remain.
United Kingdom Amanda Gomez John Foley Jonathan Guilford European Commission Thomson Reuters Trust Principles

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Saudi is far from the last Western bank bagholder

Saudi Arabia has joined the Western bank bagholder club. Saudi National Bank (SNB), 37% owned by the kingdom’s $600 billion Public Investment Fund, admitted on Monday that its $1.4 billion swoop for 10% of Credit Suisse had gone sour after the latter collapsed into the arms of UBS . The good news for SNB Chairman Ammar Al Khudairy is that his $1 billion-plus loss is neither the first nor the last time an eastern investor will take a big bath on a U.S. or European financial group.
United States City Of United Kingdom United Arab Emirates Saudi Arabia Abu Dhabi

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