Reuters

By Foo Yun Chee and Benoit Van Overstraeten

BRUSSELS (Reuters) -Temu will have to comply with stricter EU online content rules after its user numbers exceeded a key criterion, the European Commission said on Friday, putting the PDD Group's fast-fashion e-commerce retailer in a group that includes Amazon, Meta Platforms and TikTok.

Under the European Union's Digital Services Act (DSA), companies with more than 45 million users are designated... (continue reading...)

By Humeyra Pamuk

PRAGUE (Reuters) - U.S. President Joe Biden approved Ukraine using U.S. weapons to strike targets inside Russia that were attacking the Ukrainian city of Kharkiv, after Kyiv sought authorization from Washington in recent weeks, U.S. Secretary of State Antony Blinken confirmed on Friday.

Speaking at a news conference in Prague after an informal meeting of NATO foreign ministers, Blinken did not specifically say whether... (continue reading...)

NEW YORK (Reuters) - The overhaul of the settlement cycle for U.S. securities has gone smoothly this week, with all trades having settled, U.S. Securities and Exchange Commission Chair Gary Gensler said on Friday.

U.S. trading of equities, corporate and municipal bonds and other securities moved on Tuesday to a one-day settlement cycle (T+1) from two days (T+2), to comply with a rule change the SEC adopted in February.

"The historic... (continue reading...)

(Reuters) - The Federal Reserve is more likely to deliver a long-awaited rate cut in September after a U.S. Commerce Department report showed inflation made a bit of progress toward the Fed's 2% goal last month and spending softened, traders expect.

After the data, traders priced in about a 53% chance of a rate cut in September, versus about 49% before the report. The report showed the core personal consumption expenditures price index, which the Fed... (continue reading...)

ZURICH (Reuters) - Following is a timeline outlining the 168-year history of Credit Suisse Group, the Zurich-based bank that was formally absorbed on Friday by Swiss rival UBS after a 3 billion franc takeover last year.

1856

Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt (SKA) to finance the expansion of the railroad network and promote Swiss industrialisation.

1876

The bank... (continue reading...)