In a recent decision that has captured the attention of financial institutions worldwide, a Russian court has ruled in favor of state-run lender VTB Bank in its efforts to recoup $439.5 million from American lender JPMorgan Chase. The funds were frozen by JPMorgan in U.S. accounts following the Ukraine invasion, prompting VTB Bank to take
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Employee Stock Purchase Plans, commonly known as ESPPs, can be a valuable benefit for employees of publicly traded companies. However, before deciding to participate in your company’s ESPP, it’s crucial to understand the rules and risks associated with it. According to financial experts, around half of public companies offered an ESPP in 2020. The allure
Starbucks and the union representing its baristas, Workers United, have decided to return to the bargaining table after months of stalemate. This decision follows a February announcement where both sides expressed willingness to find a constructive path forward. The previous two years saw Starbucks engaged in a heated battle against the union and the broader
Ford Motor is set to reveal its first-quarter earnings after the markets close on Wednesday. Analysts on Wall Street have compiled their estimates, with expectations as follows: Earnings per share are projected to be at 42 cents adjusted, while Automotive revenue is anticipated to reach $40.10 billion. This would represent a 2.6% increase in revenue
Recent data has shown that mortgage rates have seen a steady increase over the past few weeks, reaching the highest level since November. This rise in mortgage rates has resulted in a 2.7% decrease in mortgage application demand as compared to the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming
The former CEO of cryptocurrency exchange Binance, Zhao, is facing an uphill battle as U.S. prosecutors are pushing for a 36-month prison sentence, which is double the high end of the advisory guidelines range for his crimes. The prosecutors argue that this harsh sentence is necessary to reflect the gravity of his offenses, promote respect
Roche, the Swiss pharmaceutical company, recently released its first-quarter sales report, revealing a slight increase in sales despite the decrease in demand for its Covid-19 products. The company cited stronger demand for its newer medicines and diagnostics as the driving force behind the 2% increase in sales at constant exchange rates, with a more significant
Kering, the French luxury group, experienced a significant drop in its shares by over 9% on Wednesday. This decline came after the company issued a warning regarding its first-half profits, citing a substantial decrease in demand for its flagship brand, Gucci. The group expects a sharp decline of 40% to 45% in first-half operating income
Boeing’s quarterly report set to be released this week is expected to shed light on the aftermath of a midair incident involving a 737 Max 9 plane in January. This incident not only resulted in significant financial losses for the company but also led to heightened scrutiny from federal regulators and a slowdown in production.
E.W. Scripps, a prominent local TV broadcaster in the United States, has recently announced that it has engaged a financial advisor to assess the interest from potential buyers in acquiring Bounce TV, its over-the-air network focused on African American viewers. The decision to consider a sale comes after Paramount Global’s attempt to sell BET Media