Business

Federal agency finds no wrongdoing in Kodak loan

A federal agency found no wrongdoing concerning the stalled U.S. government loan to Eastman Kodak Co, the Wall Street Journal reported on Sunday. The inspector general for the U.S. International Development Finance Corp (DFC), which was administering the loan, told Democratic lawmakers he found no evidence that agency officials had any conflicts of interest in […]

Business

Explainer: The potential impact of Brexit without a trade deal

Britain and the European Union are seeking a post-Brexit trade deal, with failure likely to result in increased chaos in mutual trade, financial markets tumbling and huge economic costs. Here are some of the potential pressure points of a failure to reach agreement on trade. STERLINGInvestors and banks have long predicted a trade deal would […]

Business

‘On a knife edge’: Britain and EU in last-ditch trade talks

Britain and the European Union will make a last-ditch attempt to strike a post-Brexit trade deal this week, with probably just days left for negotiators to avert a chaotic parting of ways at the end of the year. Ireland’s prime minister, whose country would face more economic pain than any of the other 26 EU […]

Business

Foley-backed blank-check acquisition firm nears $9 billion Paysafe deal

A blank-check acquisition firm backed by veteran investor Bill Foley is nearing a deal to merge with Paysafe, valuing the payments company at around $9 billion, including debt, people familiar with the matter said on Sunday. Paysafe’s merger with Foley Trasimene Acquisition Corp II will result in the London-based company listing in New York, according […]

Business

Goldman mulls Florida base for asset management arm

Goldman Sachs Group Inc is weighing plans for a new Florida base to house its asset management arm. Goldman executives have been scouting office locations in South Florida, speaking with local officials and exploring tax advantages as they consider creating a base there. The members of the leadership team have been persuaded by the bank’s […]

Business

Zalando co-CEO Ritter to step down to let wife pursue career

Rubin Ritter, who has been co-chief executive of German online fashion company Zalando since 2010, will step down next year, leaving Robert Gentz and David Schneider to continue to lead the company as co-CEOs. Founded in Berlin by Gentz and Schneider in 2008, Zalando has quickly grown to become Europe’s biggest online-only fashion retailer, serving […]

Business

Ireland says UK threat of breaking Brexit treaty a ‘negotiating tactic’

Britain’s plan to press ahead on Monday with legislation that would break an earlier Brexit deal is a “negotiating tactic” which should not distract EU negotiators, Irish Foreign Minister Simon Coveney said on Sunday. Britain’s upper house of parliament last month voted to remove the controversial clauses from the Internal Market Bill, but the government […]