Category: Business

EIG Global Energy Partners will lead a yet-unnamed consortium to issue billions of dollars in bonds across two or three transactions to replace bank debt backing an investment in Saudi Aramco’s (2222.SE) oil pipeline assets, two sources said. The Washington, D.C.-based firm’s consortium will issue bonds to replace $10.5 billion in so-called staple financing that […]

U.S. business inventories increased solidly in February, suggesting restocking could again contribute to economic growth in the first quarter. Business inventories rose 0.5% after increasing 0.4% in January, the Commerce Department said on Thursday. Inventories are a key component of gross domestic product. February’s gain was in line with economists’ expectations. Inventories fell 2.4% on […]

GameStop Corp (GME.N) Chief Executive Officer George Sherman has forfeited more than 587,000 shares as he failed to meet his performance targets, according to a regulatory filing on Wednesday. The forfeited shares, originally granted in April 2019, would be worth about $98 million based on the stock’s latest closing price. GameStop is currently looking for […]

Andrea Orcel on Thursday fulfilled his dream of becoming a bank boss, but disquiet over how much the veteran dealmaker will earn as the new UniCredit chief executive means his tenure begins on the defensive. Orcel, 57, only narrowly defeated a shareholder revolt over the terms and size of his up to 7.5 million euro […]

Chinese technology company Huawei would have had free access to KPN’s mobile network in the past and could eavesdrop on all conversations. De Volkskrant writes this based on a secret report from 2010 which their editorial staff reviewed. According to the newspaper, Huawei was able to eavesdrop on mobile numbers from the telecom provider at […]

The European Parliament’s committees on relations with Britain on Thursday voted overwhelmingly in favour of the post-Brexit trade and cooperation agreement, clearing the path to its final ratification. They had suspended voting in March in protest over British changes to trading arrangements in Northern Ireland, which Brussels says breach the terms of the Brexit Withdrawal […]

Ferrari (RACE.MI) is making good progress on a shortlist of “very strong” candidates to be the Italian luxury carmaker’s next chief executive, Chairman John Elkann told shareholders at a general meeting on Thursday. Elkann said the list would include people who have “all the right qualities, including importantly the technological capabilities, to lead our company”. […]