04 September

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Sabadell seeks to cut 13% of workforce in Spain -union By Reuters

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By Jesús Aguado MADRID (Reuters) - Sabadell wants to cut 1,900 jobs in Spain, around 13% of staff in its home market, a union negotiating with the bank said on Thursday, under plans to cut costs and make more money. Such a reduction would be Sabadell's second in less than a year after recently cutting 1,817 jobs in Spain, where it employs a total of 14,648 people. Union Comisiones Obreras (CCOO) said it saw no reason for a new round of layoffs at Sabadell, given "no economic, technical, productive or organisational causes". Sabadell declined to...

04 September

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Italy’s economy growing faster than expected, needs transforming -Draghi By Reuters

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ROME (Reuters) - The Italian economy is growing much faster than expected, but it needs to be transformed to be able to expand at a consistently faster pace in the coming years, Prime Minister Mario Draghi said on Thursday. Speaking at a news conference to mark the end of the summer break, Draghi said the first half of 2022 would be crucial to see if the hoped-for economic transformation was taking shape. Turning to the coronavirus crisis, Draghi said he was confident that 80% of all Italians aged 12 and over will have been vaccinated...

04 September

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Britain warns of ‘cold mistrust’ if EU does not move on Northern Ireland trade By Reuters

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LONDON (Reuters) - The stand-off between Britain and the European Union over post-Brexit trading rules for Northern Ireland threatens to create "cold mistrust" in the broader relationship between London and the bloc, Britain's Brexit minister said on Saturday. David Frost said Prime Minister Boris Johnson's government did not want to sweep away the so-called Northern Ireland Protocol, but did need to see "substantial and significant change". Those changes covered the movement of goods into Northern Ireland, standards for goods and governance arrangements. "I want to be clear that any response which avoids serious engagement with those...

04 September

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Guidewire Jumps on Strong Outlook after Q4 Revenue Beats Estimates By Investing.com

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By Dhirendra Tripathi Investing.com – Guidewire Software stock (NYSE:GWRE) rose 5% during Friday’s session as the company’s outlook for the ongoing financial year impressed following a strong momentum in customer acquisition in the fourth quarter. It secured a record 17 core Cloud deals in the fourth quarter, and Chief Executive Officer Mike Rosenbaum said it is well positioned to drive growth. The company expects total revenue around $785 million at the midpoint, up 5.6% from last year’s $743.3 million. Annual recurring revenue is seen around $662 million at the midpoint compared to $582 million as on...

04 September

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Italy’s Leonardo aims to list DRS unit when market conditions right By Reuters

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By Francesca Landini CERNOBBIO, Italy (Reuters) -Italian defence group Leonardo still aims to list its U.S. unit DRS when the right market conditions are in place, Chief Executive Alessandro Profumo said on Friday. The state-controlled group postponed an initial public offering of a minority stake in DRS in March, due to uncertainty over U.S. defence spending and investors' concerns about a potential rise in interest rates to fight a surge inflation. "We have filed for the listing of DRS and we keep updating the documents for the IPO ...

04 September

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Europe to miss 2030 climate goal by 21 years at current pace – study By Reuters

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CERNOBBIO, Italy (Reuters) - Europe will miss a key climate target for cutting greenhouse gas emissions by more than 20 years unless it picks up the pace on energy transition measures and improves governance, a study involving Europe’s biggest utility Enel (MI:ENEI) said. At the current pace, Europe will only reach its 2030 target for a 55% reduction in greenhouse gases in 2051, a study by Enel Foundation and the European House-Ambrosetti said. In July, Brussels unveiled a raft of ambitious measures in its ‘Fit for 55’ package aimed at putting the European Union...

04 September

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Morgan Stanley Sees Concentrated U.S. Slowdown in Third Quarter By Bloomberg

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(Bloomberg) -- Economists at Morgan Stanley (NYSE:MS) say they expect the brunt of a second-half growth slowdown to occur in the third quarter, due largely to a payback from stimulus spending and persistent supply chain issues. Gross domestic product growth in the July-September period is now tracking at 2.9%, down sharply from the previous figure of 6.5%, economists including Ellen Zentner said in a note Thursday. “Growth in the U.S. economy is coming off a torrid pace in the first half of the year as stimulus spending and a reopening-fueled burst...

04 September

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Exclusive: U.S. funding tapped for Pacific undersea cable after China rebuffed By Reuters

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By Jonathan Barrett SYDNEY (Reuters) - The Federated States of Micronesia will tap a U.S. funding facility to construct a Pacific undersea communications cable, two sources told Reuters, after rejecting a Chinese company-led proposal that was deemed a security threat by U.S. officials. The United States has taken great interest in several plans in recent years to lay optic fibre cables across the Pacific, projects that would bring vastly improved communications to island nations. The undersea cables have far greater data capacity than satellites, leading Washington to raise concerns https://www.reuters.com/article/us-china-pacific-exclusive-idUKKBN28R0L2 that the involvement of...

04 September

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Didi denies reports that Beijing city is coordinating companies to invest in it By Reuters

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BEIJING (Reuters) - China's ride hailing giant Didi Global Inc said on Saturday that media reports that the Beijing city government is coordinating companies to invest in it are not correct. "Didi is currently actively and fully cooperating with cybersecurity probe, foreign media reports that Beijing city government is coordinating companies to invest in it are incorrect," it said on Weibo. Bloomberg News reported on Friday, citing unidentified people familiar with the matter, that China's capital city was considering taking Didi under state control and had proposed that government-run firms invest in it. Under the preliminary...

04 September

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Flipkart co-founder challenges Indian enforcement agency probe By Reuters

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NEW DELHI (Reuters) - Sachin Bansal, co-founder of e-commerce giant Flipkart, has mounted a court challenge against India's financial crime-fighting agency, which has accused him and others of violation of foreign investment laws, court records showed. The agency, the Enforcement Directorate, had in July issued a so-called show cause notice to Flipkart, its founders and some investors asking them to explain why they should not face a penalty of $1.35 billion for alleged violation of foreign investment laws between 2009 and 2015, Reuters reported last month. https://reut.rs/3n5USMW Court records and media reports on Saturday showed Sachin...

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Sabadell seeks to cut 13% of workforce in Spain -union By Reuters

Italy’s economy growing faster than expected, needs transforming -Draghi By Reuters

Britain warns of ‘cold mistrust’ if EU does not move on Northern Ireland trade By Reuters

Guidewire Jumps on Strong Outlook after Q4 Revenue Beats Estimates By Investing.com

Italy’s Leonardo aims to list DRS unit when market conditions right By Reuters

Europe to miss 2030 climate goal by 21 years at current pace – study By Reuters

Morgan Stanley Sees Concentrated U.S. Slowdown in Third Quarter By Bloomberg

Exclusive: U.S. funding tapped for Pacific undersea cable after China rebuffed By Reuters

Didi denies reports that Beijing city is coordinating companies to invest in it By Reuters

Flipkart co-founder challenges Indian enforcement agency probe By Reuters

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