Business

Apple says EU anti-trust case is “opposite of fair competition”

Apple Inc said on Friday that a case brought by European Union antitrust regulators accusing it of setting restrictive rules on its App Store was “the opposite of fair competition”. The move by the European Commission followed a complaint by Swedish music streaming service Spotify two years ago. “Spotify has become the largest music subscription […]

Business

Ground control out, remote control in at London City Airport

At London City Airport, the air traffic controllers have gone. Rising over the terminal building, the old control tower with its panoramic windows is deserted, with screens, a few pens and some hand sanitiser all that remains. City quietly switched to a remote, digital air traffic control centre earlier this year, the first major international […]

Business

Lazard first-quarter profit misses estimate as expenses weigh

Investment bank Lazard Ltd said on Friday its first-quarter profit narrowly missed Street estimates, as higher spending and a weaker-than-expected performance in its corporate business offset strength from record dealmaking activity. The bank reported an adjusted net income of $101 million, or 87 cents per share, missing Street estimates of 89 cents per share, according […]

Business

Credit Suisse crisis worst yet for banking veteran Horta-Osorio

Credit Suisse’s new chairman Antonio Horta-Osorio said he sees the scale of problems facing Switzerland’s second-largest bank as representing his biggest challenge yet. Horta-Osorio, who was approved by Credit Suisse shareholders as chairman on Friday, said he intends to look at the bank’s risk management and culture in the wake of two major crises, as […]

Business

U.S. tech giants in the EU antitrust crosshairs

Apple was charged by EU antitrust regulators on Friday of abusing its dominance in the music streaming market via restrictive rules in response to a complaint brought by Spotify Technology The case is one of four brought by the European Commission into the iPad maker and could lead to a fine of as much as […]

Business

German government proposes green funding tool to help industry cut CO2

Germany’s government on Friday presented plans for so-called contracts for difference (CfDs), instruments that help companies in the steel, cement, lime and ammonia industries finance the transition to low-carbon technologies. A draft plan by the environment ministry, seen by Reuters, says that companies that commit to cutting carbon dioxide emissions by more than half using […]

Business

Restaurant Brands quarterly results top estimates on Burger King sales

Restaurant Brands International Inc’s quarterly results topped estimates on Friday, as a reopening U.S. economy and government stimulus checks boosted spending at the company’s Burger King chain. Easing of dining room capacity restrictions and a warmer weather also led to a recovery in demand at Restaurant Brands’ outlets and those of rival companies, many of […]