Credit Suisse eyes cooperation with insurers: Rohner

ZURICH (Reuters) – Credit Suisse (CSGN.S) is looking to expand cooperation with insurers, Chairman Urs Rohner told a Sunday newspaper, adding the search for his successor at Switzerland’s second-biggest bank was well under way. “In the retail business in particular, there will be more partnerships with us. There are good examples abroad of how insurance and banking services can be […]

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Chinese EV maker Xpeng files for U.S. listing after rival surges

BEIJING (Reuters) – Chinese electric vehicle (EV) maker Xpeng Inc, backed by Alibaba (BABA.N) and Xiaomi Corp (1810.HK), has filed to list its shares in New York, seeking to ride enthusiasm for EVs even as U.S.-China relations are strained. The move, announced on Friday, comes as share prices of EV makers including Tesla Inc (TSLA.O) and Nio Inc (NIO.N) have […]

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Money Hacks Podcast: Why insurance is good risk management during uncertain times

Money Hacks Ep 74: Why insurance is good risk management during uncertain times 10:42 min Synopsis: Updated fortnightly on Mondays, The Business Times breaks down useful financial tips. This episode is aimed at how to understand basic personal risk management amid the market turmoil this year. Host Chris Lim speaks remotely with SingSaver’s founder and country manager Rohith Murthy. They […]

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WarnerMedia restructures to focus on HBO Max, senior executives out

(Reuters) – WarnerMedia executives Bob Greenblatt and Kevin Reilly, who oversaw the creation of the HBO Max streaming business, will leave as part of a broad restructuring focused around the streaming service, the company said on Friday. The shake-up also includes the consolidation of film and TV studios under Warner Bros Chief Executive Ann Sarnoff. The restructuring marks the first […]

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Wall St. set to dip on slowing job growth, U.S.-China tensions

(Reuters) – The S&P 500 was set to pull back from near six-month highs on Friday as data showed a sharp slowdown in U.S. employment growth and President Donald Trump cranked up friction with Beijing with moves to ban WeChat and TikTok. The Labor Department’s closely watched report showed nonfarm payrolls increased by 1.76 million in July. While that was […]

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Sino-U.S. tensions hit futures ahead of jobs report

(Reuters) – U.S. stock index futures fell on Friday as President Donald Trump’s moves to ban WeChat and TikTok intensified tensions with Beijing, while investors also braced for data likely to show a sharp slowdown in jobs growth in July. Underlining the disconnect between U.S. economic health and a stimulus-led rally on Wall Street, the Nasdaq closed on Thursday above […]

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California judge weighs Uber, Lyft driver classifications

(Reuters) – California and three of its largest cities urged a state judge on Thursday to issue a preliminary injunction requiring Uber Technologies Inc and Lyft Inc to classify their drivers as employees rather than as contractors. The argument was made at a hearing in San Francisco Superior Court in a May 5 lawsuit accusing Uber and Lyft of violating […]

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Coronavirus: ITV profits plunge as COVID-19 hammers income

ITV saw its profits almost wiped out after the coronavirus pandemic hammered its main sources of income. However, the broadcaster’s boss Dame Carolyn McCall said her company was now seeing an “upward trajectory”, with productions restarting and advertisers returning. The company expects to pour around £960m into its programming this year. But despite many people being sat at home during […]

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Boeing does not see immediate need to raise cash with new debt

SEATTLE (Reuters) – Boeing Co (BA.N) does not see the need to add to liquidity through additional debt offerings to manage the downturn in global aviation caused by the COVID-19 pandemic, chief financial officer Greg Smith said on Wednesday. Smith also told a conference that “priority one” for Boeing would be paying down its debt and getting its balance sheet […]

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