UBS Group AG, a Swiss bank, will disburse $300 million to resolve Credit Suisse's U.S. claims concerning its sale of residential mortgage-backed securities (RMBS) in the United States. UBS states that the payment will settle all remaining liabilities from a 2017 pact between Credit Suisse and the U.S. Department of Justice. According to the provisions of the agreement, Credit Suisse had to pay...

Italy’s antitrust authority (Autorità Garante della Concorrenza e del Mercato, AGCM) has imposed a fine of €1 million on the Asian e-commerce platform Shein for misleading customers regarding the sustainability of its operations, according to AGCM. This marks the second penalty Shein has faced from European authorities in the last month. In early July, the French competition regulator penalized...

The South China Morning Post reports that the Hong Kong Stock Exchange (HKEX) is easing certain listing regulations. The exchange operator Hong Kong Exchanges & Clearing announced it will ease the minimum shareholding criteria for mainland Chinese firms aiming to list in Hong Kong beginning next week. Firms listed on mainland exchanges were required to provide a minimum of 15% of their...

American Mastercard Inc., the manager of one of the globe's biggest payment networks, boosted its net profit in the second quarter of 2025 by 14%, while revenue rose by 17%. Revised profit and revenue surpassed market forecasts. From April to June, Mastercard reported a net profit of $3.7 billion compared to $3.26 billion during the same period last year. Earnings per share rose to $4.07, up from...

The biggest American motorcycle maker, Harley-Davidson Inc., halved its net profit in Q2 of 2025 and saw a 19% decline in revenue. According to a press release from Harley-Davidson, the challenging market conditions for non-essential goods and uncertainties regarding trade tariffs are adversely impacting the company's performance.  The company's net income for April to June was $108...

Union Pacific Corp. and Norfolk Southern Corp., two U.S. rail operators, have reached an agreement to merge, resulting in the establishment of the first transcontinental railroad in the country. Union Pacific stated that the new company will manage over 50,000 miles of rail lines across 43 states, from the East Coast to the West Coast, linking approximately 100 ports. The press release states...

The Financial Reporting Council (FRC) of the UK has initiated an inquiry into Deloitte LLP regarding its audit of Glencore Plc, a mining firm, and its UK subsidiary, Glencore Energy UK Ltd. The investigation is taking place due to corruption scandals connected to Glencore's operations, according to the Financial Times. The watchdog announced that the investigation will encompass the years from...

French authorities have launched a criminal investigation into Elon Musk's social network X (formerly Twitter) on suspicion of manipulating its algorithm and illegally collecting data, the platform reported. X firmly rejects the accusations and deems them “politically driven.”  “X stated that French regulators have sought access to its recommendation algorithm and operational data...

Stellantis NV, the car manufacturer created from the merger of Fiat Chrysler and PSA Group, anticipates a net loss for the first half of the year owing to the considerable adverse effects of one-time write-offs and import tariffs implemented and declared by the United States. Based on initial figures from the company, its net loss for January to June is projected to be €2.3 billion, down from a...