News

Credit Suisse has named António Horta-Osório as its next chairman, picking the outgoing chief executive of Lloyds Bank to help steer the lender through the fallout from the coronavirus crisis. Mr Horta-Osório will start at Credit Suisse at the end of April, the bank said in a statement on Tuesday. Urs Rohner, the Swiss lender’s
0 Comments
The UK is poised to become the first western country to approve a Covid-19 vaccine, with the independent regulator set to grant approval within days. Deliveries of the vaccine developed by BioNTech and Pfizer would begin within hours of the authorisation, according to government officials. The first injections could take place from December 7. The
0 Comments
BBVA and Sabadell, the Spanish banks, have given up merger talks they had confirmed less than two weeks ago because of disagreements over the pricing of the deal. Sabadell said in a statement to Spain’s securities regulator that its board of directors “has decided to terminate the above-mentioned discussions, because the parties have not achieved
0 Comments
French tax authorities have begun demanding millions of euros from US tech giants as they push ahead with a new digital services tax that has enraged Washington. Facebook and Amazon are among the companies to have received communication from French authorities in recent days demanding payment of the tax for 2020, and multiple more companies
0 Comments
Donald Trump said on Monday his administration would begin co-operating with Joe Biden’s transition team, bowing to Republican pressure to start the transfer of power even as he vowed to continue contesting his election loss. The president’s statement, which stopped short of a formal concession, came after a Michigan board certified the state’s election results
0 Comments
Donald Trump’s legal options to challenge his election loss are about to significantly narrow, with three battleground states carried by Joe Biden due to certify their results in the wake of a crushing weekend courtroom defeat for the president and a departure from his legal team. Pennsylvania and Michigan could make their results official as
0 Comments
A federal judge on Saturday dealt a blow to Donald Trump’s attempt to overturn the results of the presidential election, throwing out a lawsuit in Pennsylvania with an excoriating opinion that cast his legal arguments as shoddy, without evidence and contrary to the US constitution. The dismissal of the Trump campaign’s lawsuit, which had sought
0 Comments
Donald Trump’s efforts to overturn the US presidential election result suffered significant setbacks on Friday after Georgia officially certified Joe Biden’s win and top Republican lawmakers in Michigan dismissed the idea they would throw the state to the president. The developments were the latest blows to Mr Trump’s unprecedented and long-shot effort to retain power
0 Comments
The World Health Organization has recommended that doctors do not prescribe Gilead’s remdesivir to patients in hospital with coronavirus, dealing another blow to the only antiviral approved to treat the disease. Remdesivir was approved by the US Food and Drug Administration (FDA) last month. But a landmark WHO study has cast doubt on its effectiveness.
0 Comments
Positive news of a coronavirus vaccine and the conclusion of the US election have emboldened global dealmakers to revisit proposed mergers and acquisitions and strike large-ticket transactions, according to bankers and legal advisers. Companies across the globe announced nearly $40bn worth of deals on Monday alone in a clear sign that chief executives are looking
0 Comments
The US economy is facing an accelerating surge in coronavirus cases and harsh new restrictions on business activity without the cushion of meaningful fiscal support, raising fears of a blow to the recovery. Even though equity markets have rallied strongly on advances in the development of a vaccine, the deteriorating health situation across the country
0 Comments
Blackstone founder Stephen Schwarzman defended Donald Trump’s response to this year’s US poll results during an emergency meeting of senior business leaders alarmed by the president’s claims that the election is being stolen, according to several participants. About 30 chief executives — of companies as large as Goldman Sachs, Johnson & Johnson and Walmart —
0 Comments
The US has tallied more than 1m new coronavirus cases since the start of November as the pandemic accelerates in nearly all regions of the country, prompting officials to warn of a fresh strain on the healthcare system and weigh new restrictions to contain the spread of the disease.  President Donald Trump scheduled a Friday
0 Comments
A small but influential group of Republicans has begun urging President Donald Trump to concede last week’s election, with a growing number using the term “president-elect” to refer to Joe Biden. Mr Trump has refused to accept his loss and continues to make baseless claims of voter fraud, while Republican lawyers have filed lawsuits intended
0 Comments
Joe Biden said it was an “embarrassment” that Donald Trump had not conceded defeat after losing last Tuesday’s election, although the president-elect insisted the refusal to acknowledge his victory would not hold up his transition plans. Speaking at his first press conference since he was declared the winner of last week’s election, Mr Biden said
0 Comments
A global equities rally extended into Asia on Tuesday as promising results from a Covid-19 vaccine trial boosted confidence in an economic recovery from the pandemic, though Chinese shares were damped by inflation data that suggested weakening consumer demand. The announcement by US drugmaker Pfizer and Germany’s BioNTech that their vaccine was more than 90
0 Comments
President-elect Joe Biden is preparing a series of executive orders to reverse some of the signature policies of Donald Trump’s one-term presidency, after declaring victory in the 2020 US election. Mr Biden has vowed to promptly re-enter the Paris climate accord, which the US officially exited last week, when he assumes office on January 20,
0 Comments
Donald Trump called for vote counting to be halted in several swing states as the US waited for results from a handful of battlegrounds that will decide the presidential election. As of Thursday morning, Democratic challenger Joe Biden was within six electoral votes of victory while Mr Trump’s thin lead in two swing states, Georgia
0 Comments
President Donald Trump and Joe Biden, his Democratic rival, traded victories in conservative and liberal states as they waited for the results in the battlegrounds that will decide the election, including Florida. Mr Trump won solidly conservative states including Indiana, Tennessee and South Carolina. Mr Biden took New York, Virginia, Maryland, Massachusetts and Illinois, all
0 Comments