Category: Business

Nasdaq Clearing has been fined 300 million Swedish crowns ($36 million) by Sweden’s financial supervisory authority (FI) over the default of a power trader in 2018 that showed deficiencies in its operations, the FI said on Wednesday. The default by private Norwegian trader Einar Aas left a 114 million euro ($139 million) hole in the […]

Google is reviving plans to launch its own news website in Australia within weeks, according to a local media outlet contracted to provide articles for the venture, as the search giant fights world-first proposed laws on content payments. The launch of the News Showcase product as early as next month is Google’s latest tactic in […]

BMW’s free cash flow last year was better than market expecations at about 3.4 billion euros ($4.12 billion) in its core automotive division, the German carmaker said on Wednesday, citing recoveries in many markets and good cost management. The margin on earnings before interest and tax in the automotive segment will come in at the […]

Boeing Co took a hefty $6.5 billion charge on its all-new 777X jetliner as it posted a record annual loss on Wednesday due to the coronavirus pandemic and the aftermath of a two-year safety crisis over its 737 MAX. The results cap a tumultuous year for the world’s largest aerospace company during which the pandemic […]

Social media company Reddit has not been contacted by authorities over stock surges driven by a message board on the platform, a spokeswoman said on Wednesday. Spurred by the Reddit stock trading discussion group Wallstreetbets, shares of GameStop and AMC Entertainment Holdings soared for a fourth day running, sparking calls for scrutiny of the social […]

Finnish technology firm Nokia said on Wednesday it was not aware of any reason for the continuing surge in its share price. “Nokia is not aware of any material, undisclosed corporate developments or material change in its business or affairs that has not been publicly disclosed that would account for the recent increase in the […]

The White House and Treasury Department are monitoring the situation involving GameStop and other companies that have seen sharp gains on the stock market, White House Press Secretary Jen Psaki said on Wednesday. Shares of both GameStop and AMC Entertainment Holdings more than doubled on Wednesday, forcing hedge funds to take heavy losses and sparking […]