Economy News

Luckin Coffee plans to relist in U.S. two years after accounting fraud – FT

(Reuters) -Luckin Coffee plans to relist its shares in the United States, the Financial Times reported https://www.ft.com/content/f8327af5-5203-44fd-acc7-267c7b475fa7 on Wednesday, two years after the Chinese coffee chain’s $300 million accounting scandal..

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Big Credit Suisse investor Harris backs new chairman – paper

ZURICH (Reuters) – One of the largest shareholders of Credit Suisse (SIX:CSGN) has backed the embattled bank’s new chairman, Axel Lehmann, the Tages-Anzeiger newspaper said on Wednesday. Harris Associates, the.

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Commodities News

Oil hits 2014 highs as Turkey outage adds to supply concerns

By Laura Sanicola (Reuters) – Oil prices rose for a fourth day on Wednesday after a fire on a pipeline from Iraq to Turkey briefly stopped flows, increasing concerns about.

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Big U.S. banks see higher expenses from workers’ rising wages

By Elizabeth Dilts Marshall NEW YORK (Reuters) – Big U.S. banks will spend more on salaries and benefits this year, as inflationary pressures, pandemic risks and the tight labor market.

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Commodities News

Texas power plants ready for winter, grid says ahead of cold snap

By Scott DiSavino (Reuters) – Nearly all of Texas’ electric generation units and transmission facilities have passed the state’s new winterization rules, the state grid reported just before the expected.

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Economy News

NY AG seeks testimony from Trump, his children over financial dealings

By Shivam Patel (Reuters) -New York Attorney General Letitia James said late on Tuesday that former U.S. President Donald J. Trump’s family organization used “fraudulent or misleading” asset valuations to.

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UK sees highest inflation since 1992, pressuring BoE and households

By David Milliken and Andy Bruce LONDON (Reuters) -Inflation in Britain rose faster than expected to its highest in nearly 30 years in December, intensifying a squeeze on living standards.

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UK watchdog fines former KPMG accountant for misconduct

By Huw Jones LONDON (Reuters) – Britain’s accounting watchdog said on Tuesday that KPMG and one of its former employees have admitted misconduct during the regulator’s spot checks on an.

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Chocolate-maker Lindt sees slower growth after bottlenecks bite

By Silke Koltrowitz ZURICH (Reuters) -Swiss chocolate maker Lindt & Spruengli expects sales of its upmarket chocolates to grow less in 2022 than last year, it said on Tuesday, and.

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U.S. regulators must provide more clarity on crypto rules, says BNY Mellon CFO

By Michelle Price WASHINGTON (Reuters) – U.S. regulators need to provide more clarity on the rules of the road for cryptocurrencies and other digital assets amid ongoing confusion over what.

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