Category: Business

Airline SAS (SAS.ST) headed into the third day of a crippling pilot strike which sent new bookings tumbling and prompted the cancellation of well over half its flights on Wednesday. The carrier, whose biggest owners are the Swedish and the Danish states, geared up for the first court date in its bankruptcy proceedings later in […]

UniCredit CEO Andrea Orcel has taken direct responsibility for running the Italian bank’s domestic business, an internal memo showed, after the board removed Niccolo Ubertalli as its head. Ubertalli’s surprise ousting comes around a year after he was appointed as head of Italy and follows the recent exits of other long-standing senior UniCredit executives. Orcel, […]

Reliance, India’s largest retailer, said on Wednesday it has partnered with Gap Inc (GPS.N) to sell the U.S. clothing retailer’s brands locally, marking its latest expansion in the booming consumer market. Under a long-term franchise agreement, Reliance will sell Gap merchandise through a mix of exclusive brand stores, multi-brand outlets and e-commerce platforms, the company […]

Meta’s Facebook has asked a U.S. court for eight documents created by the U.S. Federal Trade Commission as part of their review of the company’s purchases of Instagram and WhatsApp, which the agency allowed to go forward. The request was made late on Tuesday and comes in a lawsuit filed by the FTC that has […]

HSBC (HSBA.L) is in advanced talks to sell its Russian corporate lending business to Expobank, a source with knowledge of the matter told Reuters, as many major banks exit the country. Several of the world’s top financial services companies have moved to sell or dramatically reduce their business interests in Russia since it invaded Ukraine. […]

Rivian Automotive Inc (RIVN.O) delivered 4,467 vehicles in the second quarter, nearly four times more than the preceding quarter, as the electric-vehicle maker benefited from a ramp-up in production and strong demand. The company also said on Wednesday it was on track to meet its annual production target of 25,000 units after output jumped 72% […]

Britain’s antitrust watchdog is investigating Amazon.com Inc (AMZN.O) on concerns it was hurting competition by giving its own sellers an unfair advantage in its marketplace over third parties, adding to global regulatory scrutiny of the U.S. tech giant. Britain’s Competition and Markets Authority (CMA) said it opened an investigation on Tuesday into whether Amazon’s practices […]