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Hungary denied it’s holding up the Nato entry bids of Finland and Sweden as part of its fight over billions of euros in European Union aid but won’t vote on expanding the military alliance until it passes laws tied to the cash. Finland and Sweden, which are also EU members, will cast votes when the bloc decides next month on ...

Wells Fargo & Co. is under pressure from the Consumer Financial Protection Bureau to pay more than $1 billion to settle a series of investigations into mistreatment of customers, a deal that would shatter the agency’s previous record — also with Wells Fargo. The regulator’s demand in confidential talks, described by people with direct knowledge of the matter, reflects its ...

Barclays Plc will refund more than a 1,000 customers an average of £750 ($858) after it failed to send them reminder of its payment protection insurance (PPI) policies. The total payout of up to £1 million is made up of refunds and goodwill payments, according to a Competition & Markets Authority (CMA) statement on Wednesday. The CMA requires providers to ...

Most banks that have published net-zero emissions targets are failing to live up to those commitments, according to a fresh study by ShareAction. The majority of the 43 largest financiers of fossil fuels in the Net Zero Banking Alliance (NZBA) “have climate targets that fall short of what’s needed to prevent the worst impacts of climate crisis,’’ the nonprofit said. In ...

US equity-index futures fluctuated between gains and losses as corporate performance showed signs of stress and midterm elections failed to yield a Republican sweep that investors had anticipated. December contracts on the Nasdaq 100 and S&P 500 indexes were little changed, a day after US stocks capped a three-day rally. News Corp. and Walt Disney Co. tumbled at least 8% ...

Chinese investors have been scooping up Hong Kong tech stocks for weeks on end, lured by the market’s cheap valuation after shares saw some of the biggest plunges worldwide. Onshore investors have been net buyers of Hong-Kong listed stocks for 24 straight sessions through Nov. 8, adding HK$118 billion ($15 billion) in the longest run of gains since early 2021, ...

Adidas AG slashed its profitability forecast for the fourth time this year after ending its partnership with rapper Ye and discontinuing the lucrative Yeezy line of sneakers. The German company said it now expects an operating margin of 2.5% this year, down from a previous 4% target. The lower forecast reflects the company’s decision last month to end its collaboration ...

Italy is preparing to give ITA Airways a further cash injection, as the newly elected right-wing government reviews plans to sell the state-controlled carrier in the coming months. The finance ministry has approved a new outlay of €400 million ($400 million) to support ITA, the successor to failed flag carrier Alitalia, people familiar with the matter said. That would bring ...

Cathay Pacific Airways Ltd. named customer chief Ronald Lam as its new chief executive officer to replace Augustus Tang. Lam, 50, will take over on January 1, Cathay said in a statement on Wednesday. He faces the challenge of leading the 76-year-old carrier out of the mire caused by Covid travel restrictions, which plunged it into crisis and sparked a ...

The chief executive officer (CEO) of Latin America’s largest airline wants the carrier to take on a more socially conscious role after the Covid-19 pandemic forced it into bankruptcy and posed “existential questions” about its future. Roberto Alvo, who was named CEO of Latam Airlines Group just as the global pandemic began to unfold in early 2020, said the company ...