Business

Google faces $25.4 billion damages claims in UK, Dutch courts over adtech practices

Alphabet unit Google (GOOGL.O) will face damages claims for up to 25 billion euros ($25.4 billion) over its digital advertising practices in two suits to be filed in British and Dutch courts in the coming weeks by a law firm on behalf of publishers. Google’s adtech has recently drawn scrutiny from antitrust regulators following complaints […]

Business

Boeing deliveries rose in August as it resumed 787 handovers

Boeing (BA.N) jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner after a 15-month delay. Boeing said monthly deliveries included 27 737 MAX jets, two 787s and five freighters. That raised the total MAX deliveries this year to 240 jets and overall deliveries to 277 through […]

Business

Wells Fargo CFO says there will be stress as economy slows

Wells Fargo & Co (WFC.N) is seeing loan growth moderating after strong growth so far this year and witnessing downward pressure on mortgage revenue as consumers feel the effect of higher interest rates, its chief financial officer said on Tuesday. “There will be stress right as the economy slows. So that’s going to come in […]

Business

Ramsay Health says KKR-led group unwilling to sweeten $14.5 billion offer

A KKR-led (KKR.N) consortium has told Australia’s Ramsay Health Care (RHC.AX) it will not improve its $14.5 billion cash-and-stock offer for the hospital operator, a move that will likely put a deal on ice. Shares in Ramsay, which has flagged it is unhappy with the terms, slid more than 10% on the news. Ramsay operates […]

Business

Auto parts supplier Aptiv to acquire 85% of Intercable unit in EV tech push

Auto parts supplier Aptiv Plc (APTV.N) said on Tuesday it would acquire a majority stake in a unit of Italy’ Intercable for 595 million euros ($605.71 million), allowing the U.S. company access to technology used in electric vehicles (EVs). Aptiv will own an 85% stake in the unit, Intercable Automotive Solutions, which manufactures high-voltage busbars […]

Business

Hot US Aug CPI seen cementing aggressive FOMC

Monthly U.S consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent and food, giving cover for the Federal Reserve to deliver another hefty interest rate increase next Wednesday. The consumer price index gained 0.1% last month after being unchanged in July, the Labor Department said […]

Business

Gen Z struggles to save as inflation refuses to stop trending

Gen Z is struggling to save and meet its financial goals in a world gripped with decades-high inflation and challenging economic conditions, a Bank of America survey showed on Tuesday. More than one-third of Gen Z consumers, or those aged between 18 and 25, that were surveyed by the bank’s personal finance education platform, Better […]