Category: Business

The CEO of Swedish payments firm Klarna said he is wary of the short-term focus of public markets and the tendency of some activist hedge funds to dictate corporate direction while lacking deep industry knowledge, but told Reuters that his firm plans to go public eventually. Klarna, which allows shoppers to buy online through its […]

Private equity firm General Atlantic on Wednesday named Ajay Banga, the former president and chief executive officer of Mastercard Inc (MA.N), as its vice chairman. Banga will assume his responsibilities at General Atlantic, which includes advising on strategic matters, its investment teams and its portfolio, from Jan. 1 next year. Banga, who began his career […]

A U.S. judge has dismissed a $10 billion lawsuit against McDonald’s Corp (MCD.N) by the media entrepreneur Byron Allen, who accused the fast-food chain of racial discrimination for not advertising with Black-owned media. U.S. District Judge Fernando Olguin in Los Angeles wrote on Tuesday that two companies owned by Allen did not offer enough factual […]

The European Commission unveiled on Wednesday a plan to invest 300 billion euros ($340 billion) globally by 2027 in infrastructure, digital and climate projects as a better alternative to China’s Belt and Road Initiative. The scheme, called Global Gateway, is to strengthen Europe’s supply chains, boost EU trade and help fight climate change, focusing on […]

Norway’s $1.3 trillion sovereign wealth fund will ask many of the companies in its portfolio to take more specific action on climate change, its head of governance and compliance said. Companies faced calls at the United Nations COP26 climate summit in Glasgow, Scotland this month to lay out plans to achieve net zero carbon emissions […]

U.S. bank profits fell 1.2% in the third quarter of 2021 to $69.5 billion as firms were slower to shrink their credit loss provisions and grappled with low interest rates, the Federal Deposit Insurance Corporation reported Tuesday. Bank profits are still up nearly 36% from the same time a year ago when banks were still […]

Shares of Nigeria’s second-biggest listed company, MTN Nigeria (MTNN.LG), fell 10% on Wednesday to a five-week low after it set a retail public offer price that was lower than its share price on the stock market. South African telecoms group MTN (MTNJ.J) opened its offer for sale to retail investors on Wednesday at 169 naira […]