3 Min Read
ZURICH (Reuters) -Credit Suisse plans to return more cash this month and recover more assets for investors in supply chain finance funds linked to insolvent finance firm Greensill, the Swiss bank said, aiming to limit damage from risk-management failures.
FILE PHOTO: The logo of Swiss bank Credit Suisse is seen at a branch office in Basel, Switzerland March 2, 2020. REUTERS/Arnd Wiegmann/File Photo
Switzerland’s second-largest bank last month closed around $10 billion of supply-chain finance funds that bought notes from Greensill. Of this, $3.1 billion has been repaid and $1.5 billion in cash was in the funds as of March 29, leaving more than $5 billion outstanding.
5 Min Read
LONDON (Reuters) - Uber’s proposal to expand benefits to British drivers following a court defeat last month has not put an end to the fight for better gig-worker pay in the UK and around the world, an issue that has become a flashpoint for the labor movement.
On Tuesday, Uber Technologies Inc said it would offer guaranteed entitlements to its more than 70,000 UK drivers, including holiday pay, a pension plan and limited minimum wage.
Uber has said it wants to expand limited benefits similar to those offered to drivers in the UK across all of Europe and the United States.
3 Min Read
TOKYO (Reuters) - Shares of Tokyo Electric Power (Tepco) fell the most in eight years on Wednesday after Japan’s atomic regulator found safety breaches at its Kashiwazaki Kariwa station and a government minister said the plant will not restart soon.
FILE PHOTO: An employee of Tokyo Electric Power Co. (TEPCO) looks up at a tank reserved for storing treated water at the tsunami-crippled Fukushima Daiichi nuclear power plant in Okuma town, Fukushima prefecture, Japan March 1, 2021. REUTERS/Sakura Murakami
Tepco shares had surged in recent months on hopes it would be able to restart Kashiwazaki Kariwa, the world’s biggest nuclear power station, after years of trying to convince regulators and local residents it had learnt the lessons of the Fukushima disaster 10n years ago.
5 Min Read
LONDON (Reuters) - Uber’s proposal to expand benefits to British drivers following a court defeat last month has not put an end to the fight for better gig-worker pay in the UK and around the world, an issue that has become a flashpoint for the labor movement.
On Tuesday, Uber Technologies Inc said it would offer guaranteed entitlements to its more than 70,000 UK drivers, including holiday pay, a pension plan and limited minimum wage.
Uber has said it wants to expand limited benefits similar to those offered to drivers in the UK across all of Europe and the United States.
3 Min Read
(Reuters) - BMW expects at least half of its sales to be zero emission vehicles by 2030, setting a more conservative target than some rivals in the race to embrace cleaner driving.
In the short term, the German carmaker forecast on Wednesday a big rise in pretax profit for this year, with a strong performance in all areas - from MINIS through its upmarket BMW brand to top-of-the-range Rolls-Royces.
Its shares rose as much as 4.9% to a 2-1/2 year high of 84.42 euros, buoyed by its forecast for a strong recovery from a pandemic-hit 2020.
Bernstein analyst Arndt Ellinghorst said BMW had entered 2021 “very confidently.”