DIRS.INFO The most relevant business & tech news

☆ UK's Sunak extends support to Ukraine, awards $4.9 bln contract to BAE Systems
▼ + stars: | 2022-11-14 | by ( ) www.reuters.com time to read: +2 min

Nov 15 (Reuters) - British Prime Minister Rishi Sunak on Tuesday extended his support for Ukraine at the G20 summit while confirming a long-planned order for warships from BAE Systems (BAES.L). Sunak also announced a 4.2 billion pound ($4.94 billion) contract to BAE Systems (BAES.L) to build five ships for the Royal Navy, a government statement said. Sunak arrived at the summit in Bali, Indonesia, on Monday and is expected to meet Russian Foreign Minister Sergei Lavrov. In support to Ukraine, Britain said last week it would soon complete delivery of 1,000 additional surface-to-air missiles to the Ukraine's armed forces. ($1 = 0.8508 pounds)Reporting by Jahnavi Nidumolu in Bengaluru; Editing by David Gregorio and Bradley PerrettOur Standards: The Thomson Reuters Trust Principles.

☆ UK chancellor Jeremy Hunt to announce a tax raid on inheritance -Telegraph
▼ + stars: | 2022-11-07 | by ( ) www.reuters.com time to read: 1 min

Nov 7 (Reuters) - British Finance Minister Jeremy Hunt is to announce a tax raid on inheritance as he attempts to balance the books in next week's autumn statement, the Telegraph reported on Monday. The chancellor and Prime Minister Rishi Sunak have agreed to freeze the threshold above which people must pay tax for another two years which means that more people will have to pay inheritance tax, the newspaper reported. Reporting by Jahnavi Nidumolu in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ HSBC's Canada unit loses National Bank, CIBC as bidders, Global and Mail reports
▼ + stars: | 2022-10-30 | by ( ) www.reuters.com time to read: +1 min

HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank Canada, a unit that analysts estimate to be valued around C$8 billion ($5.88 billion) to C$10 billion ($7.35 billion). The Globe and Mail, in its report on Friday, quoted sources familiar with the process as saying that the field of contenders to acquire HSBC Bank Canada from the British lender was narrowing. HSBC Bank Canada includes four divisions covering HSBC's commercial banking, personal banking, investment banking and markets services business in the country. National Bank of Canada declined to comment on the Global and Mail report. HSBC, CIBC and BMO did not immediately respond to requests for comment.

☆ Goldman Sachs sees deeper UK recession after tax U-turn, Bloomberg reports
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

Oct 16 (Reuters) - Goldman Sachs analysts have downgraded Britain's economic outlook after Prime Minister Liz Truss removed Kwasi Kwarteng as chancellor and reversed a freeze in corporation tax, Bloomberg News reported on Sunday. "Folding in weaker growth momentum, significantly tighter financial conditions, and the higher corporation tax from next April, we downgrade our UK growth outlook further and now expect a more significant recession," Bloomberg cited the investment bank's report as saying. On Friday, Truss said Britain will go ahead with corporation tax rise to 25% next year, making an U-turn on a pledge to freeze it at 19%. Goldman Sachs did not immediately respond to a Reuters request for comment. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jahnavi Nidumolu in Bengaluru Editing by Tomasz JanowskiOur Standards: The Thomson Reuters Trust Principles.

☆ Apple drops plan to boost iPhone production as demand falters-Bloomberg
▼ + stars: | 2022-09-28 | by ( ) www.reuters.com time to read: +1 min

Sept 27 (Reuters) - Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company told suppliers to curtail efforts to increase assembly of its flagship iPhone 14 product family by as many as 6 million units in the second half of this year, Bloomberg reported. Register now for FREE unlimited access to Reuters.com RegisterThe iPhone 14, iPhone 14 Pro and iPhone 14 Pro Max are displayed at the Apple Fifth Avenue store, in Manhattan, New York City U.S. September 16, 2022. Demand for the higher-priced iPhone 14 Pro models is stronger than for the entry-level versions and at least one Apple supplier is shifting production capacity from lower-priced iPhones to premium models, Bloomberg reported. Apple had this week said it would start manufacturing the iPhone 14, launched earlier this month, in India, as the tech giant moves some of its production away from China.

☆ Chip designer Arm appoints Jason Child as CFO
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: 1 min

Register now for FREE unlimited access to Reuters.com RegisterSept 26 (Reuters) - Britain's Arm Ltd said on Monday it has appointed Jason Child as its new chief financial officer (CFO). Child, who stepped down as the CFO of Splunk Inc (SPLK.O) on the same day, will join the company on Nov. 2 this year, the chip designer said. Child will succeed Inder Singh, who will remain at Arm in an advisory role and assist in the transition through November before moving to a new opportunity, Arm said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jahnavi Nidumolu in Bengaluru Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ Two Aveva shareholders plan to oppose Schneider takeover offer
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

Register now for FREE unlimited access to Reuters.com RegisterThe logo of Scheider Electrics is pictured at the company's headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles PlatiauSept 23 (Reuters) - Canada-based Mawer Investment Management and M&G Investments, shareholders in Aveva Plc (AVV.L), intend to reject Schneider Electric's (SCHN.PA) 9.5 billion pounds ($10.37 billion) takeover offer, calling the offer "opportunistic". Register now for FREE unlimited access to Reuters.com RegisterEarlier in the day, the Financial Times reported Mawer's plan to reject the offer. The statement resonates with another investor in Aveva, M&G Investments. "M&G is materially underwhelmed with the opportunistic 31-pound offer from Schneider for the remainder of Aveva, and we're disappointed that the Aveva board has recommended the bid to shareholders," Rory Alexander, fund manager, M&G Investments, said.

☆ Ecuador reaches deal with China to restructure debt
▼ + stars: | 2022-09-20 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Lauren Justice/File Photo/File PhotoSept 19 (Reuters) - Ecuador has reached an agreement to restructure its debt with Chinese banks, the government said in a statement on Monday, providing debt relief worth some $1.4 billion until 2025. Ecuador's President Guillermo Lasso announced in February that he was looking to restructure the country's debt and improve the conditions of long-term oil sales contracts with Beijing. Ecuador also managed to reduce certain applicable interest rates and suspend all amortizations with China Eximbank for a six-month grace period, the government said. State-owned energy company Petroecuador reached an agreement with Petrochina (601857.SS) last week on a number of crude oil deliveries. The Wall Street Journal first reported on Monday that Lasso had announced a deal to with China to restructure $4.4 billion worth of debt.

Search resuls for: "Jahnavi Nidumolu"

8 mentions found