Business

Amazon, Google face formal fake review inquiry in Britain

Britain’s competition regulator started a formal investigation on Friday into whether Amazon (AMZN.O) and Google (GOOGL.O) may not have done enough to prevent or remove fake reviews. Along with regulators in the United Sates and the European Union, the Competition and Markets Authority (CMA) has stepped up its scrutiny of big tech firms in recent […]

Business

Euro zone to recover faster than thought, still needs support

The euro zone is recovering faster than earlier expected, but still needs continued fiscal and monetary support so that the pandemic does not leave scars, European Central Bank head Christine Lagarde told European Union leaders on Friday. “Euro area GDP is recovering and will return to pre-pandemic levels by the first quarter of 2022, one […]

Business

Bank dividend cap could be lifted in coming months, ECB’s De Cos says

The European Central Bank could lift a restriction on bank dividend payments in the coming months thanks to an improved macroeconomic scenario in the euro zone, ECB policymaker Pablo de Hernandez de Cos said on Friday. “Now the macroeconomic situation has changed and the arguments that would justify extending or maintaining the recommendation are progressively […]

Business

Supply constraints to slow U.S. auto sales growth in June – J.D. Power, LMC Automotive

Growth in U.S. new vehicle retail sales for June is expected to be lower than the previous month, despite strong consumer demand, as supply constraints and chip shortages have led to lean inventories, consultants J.D. Power and LMC Automotive said on Friday. Retail sales for new vehicles in June are estimated to reach 1.1 million […]

Business

Crisis deferred? Argentina’s Paris Club deal trims IMF default risk

Argentina’s deal with the Paris Club group of country lenders to defer $2 billion in payments until March next year should give the country breathing room in even more critical debt talks: its $45 billion negotiation with the International Monetary Fund. The Paris Club agreement over a “bridging” period until next year means Argentina will […]

Business

Chinese firm Didi’s $4 bln IPO books covered on first day of bookbuild

Chinese ride-sharing giant Didi Global Inc’s $4 billion initial public offering (IPO) received enough investor demand to clinch its targeted price range on Friday, vindicating a lowering of valuation expectations, people familiar with the matter said. The listing in New York, which will be the biggest U.S. share sale by a Chinese company since Alibaba […]