Shareholder group critical as Roche and Novartis chiefs top Swiss pay table
ZURICH (Reuters) – The bosses of drugmakers Roche and Novartis both earned more than 13 million Swiss francs ($13.6 million) last year, according to a study published on Wednesday, 18 months after the Swiss voted for some of the world’s strictest contr…
South Korea powers up downtown duty-free sales as China tourism magnet
SEOUL (Reuters) – Already the world’s biggest duty-free market, South Korea said on Wednesday it will issue more licenses for downtown duty-free shops, doubling down on a strategy that has helped it outstrip regional rivals seeking to reel in shopaholi…
Exclusive: Russia’s VTB Capital closes in on Roberto Cavalli- sources
LONDON/MOSCOW (Reuters) – VTB Capital, the investment arm of sanctioned Russian lender VTB Bank , has made a cash payment to secure a deal to buy most of Italian fashion house Roberto Cavalli before the end of November, two sources familiar with the si…
OECD sees stable growth for major economies, weaker in euro zone
PARIS (Reuters) – Most major world economies are continuing to show stable growth momentum, but within the euro zone Germany and Italy are losing steam, the OECD said on Wednesday.
Air France puts cost of pilots strike at 500 million euros
PARIS (Reuters) – Air France-KLM has put the total cost of last month’s two-week pilots strike at 500 million euros ($632 million), enough to wipe more than a fifth off the group’s estimated full-year core profit and sending its shares to a 13-month lo…
China services sector growth weakens slightly in September: HSBC PMI
BEIJING (Reuters) – Growth in China’s services sector weakened slightly in September as new business cooled, a private survey showed on Wednesday, reinforcing signs of a slowdown in the world’s second-largest economy that could prompt more stimulus mea…
Jimmy Choo IPO books covered within price range: source
LONDON (Reuters) – Luxury shoe retailer Jimmy Choo’s initial public share offering has attracted enough investors to take all the amount on offer, including the over-allotment option, within its price range, a source familiar with the matter said on We…
The Big Data bounty: U.S. startups challenge agribusiness giants
MAPLE PARK Ill. (Reuters) – Chris Gould’s combine cab is loaded like the cockpit of a fighter jet he used to fly as he harvests soybeans in northern Illinois, steered by satellites, four video screens glowing with up to minute updates about his crop an…
Banks to change rules governing derivatives market: FT
(Reuters) – The world’s biggest banks have agreed to change rules that govern the $700 trillion derivatives market, the Financial Times reported on Tuesday.
Banks need overhaul, but risk to recovery, IMF says
WASHINGTON (Reuters) – A much-needed pruning of banks across the world could stifle lending and dampen economic recovery, the International Monetary Fund said on Wednesday.
