Bloomberg Argentine digital bank Brubank, founded by a former Citigroup Inc executive, is looking to expand to Colombia and Peru in 2022 after raising more financing at the end of this year. The Buenos Aires-based company is planning a Series B funding round during the last quarter of 2021 to invest more in Argentina and to finance an expansion into …
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Bloomberg Credit Suisse Group AG nominated former UBS AG executive Axel Lehmann to head the board of directors’ risk committee and the ex-chief risk officer at Lloyd’s Banking Group Juan Colombas for a seat on the board, in the latest effort to reinforce the bank’s management team. The proposals will be put before an extraordinary shareholders meeting set for October …
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Bloomberg National Bank of Canada Chief Executive Officer Louis Vachon is stepping down after 14 years and will be succeeded by Laurent Ferreira atop the country’s sixth-largest bank. Ferreira, 50, who was promoted to chief operating officer in February, will take over as CEO on November 1, the Montreal-based lender said. Since taking the reins in 2007, Vachon, 59, helped …
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Bloomberg Bank of America Corp is boosting base salaries again, lifting pay for junior bankers across the firm to $100,000 from $95,000 in a bid to remain competitive in the war for young talent on Wall Street. The company will pay that amount to first-year analysts in the global corporate and investment-banking, global-markets and global-research divisions, according to a person …
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Bloomberg Ford Motor Co, firing back at a lawsuit filed by General Motors Co, is asking the US government to strip GM of its trademark for “Super Cruise,†the name of its hands-free driving feature, and “Cruise,†the name of its self-driving affiliate Cruise LLC. Ford is asking the US Patent and Trademark Office to rescind the trademarks so “the …
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Bloomberg Apple Inc was told to pay $300 million in royalties after a retrial in a patent dispute over wireless technology used in its iPhones and other products, part of a global fight with a company that says it owns patents on the LTE cellular standard. The jury in Marshall, Texas, said PanOptis Patent Management and its Optis Cellular and …
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Bloomberg Sonos Inc shares jumped as the wireless audio company came one step closer to winning a global battle with Alphabet Inc’s Google when a US trade judge found the search giant infringes five Sonos patents — a decision that could shut some Google smart home devices, phones and laptops out of the US market. US International Trade Commission Judge …
Read More »Bloomberg An electric-vehicle charging startup that powers Amazon.com Inc’s delivery vans in the UK has agreed to merge with a US blank-check firm and go public late this year. The transaction between EO Charging and First Reserve Sustainable Growth Corp will imply a combined enterprise value of $675 million, the companies said. The deal will net EO more than $150 …
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Bloomberg The UK’s long-promised strategy for reducing carbon emissions from heating drafty homes will be published next month, Business Secretary Kwasi Kwarteng said, as the government gears up to host a key climate change summit in the fall. During a media round, Kwarteng suggested the so-called heat and buildings strategy may include a plan for phasing out gas boilers. He …
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Bloomberg Ambri Inc, a Bill Gates-backed venture that makes batteries for power grids, said it secured $144 million to build production plants in funding led by billionaire Mukesh Ambani’s Reliance Industries Ltd and Paulson & Co. Plans include a pilot facility and a subsequent commercial-scale site in the US, followed by two more abroad in yet-to-be-determined locales. Reliance, India’s most …
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