Spotify hit by cost of unwinding aggressive podcast push
Group suffers overall loss of €302mn in three months to end of June
Digital Media
US regional lenders PacWest and Banc of California agree merger
Warburg Pincus and Centerbridge to invest $400mn in newly issued equity
Mergers & Acquisitions
Six found guilty of murder over 2016 Brussels terrorist attacks
Bombing of airport and metro station killed 32 in Belgium’s deadliest peacetime assault
Terrorism
GM reverses plan to retire Chevrolet Bolt as it chases EV target
Electric car with affordable retail price to be produced with newer Ultium battery technology
Electric vehicles
EssilorLuxottica to move into hearing aids after buying Israeli start-up
World’s largest eyeglasses group to make lenses fitted with acoustic technology developed by Nuance Hearing
Mergers & Acquisitions
China’s CATL delivers record profits despite doubts over US plans
Electric vehicle battery maker cements position as market leader but Ford deal faces resistance
Electric vehicles, Batteries
LVMH reports slowdown in US luxury market
Louis Vuitton owner says economic pressure is weighing on US revenues but sales in China are rebounding
Luxury goods
US deposit insurance: FDIC is right to challenge the levy dodgers
Exemptions displace cost and risk to lenders less adept at gaming the system
Financial & markets regulation
US regulator reports rising number of flawed audits
Deficiency rate is ‘completely unacceptable’, according to PCAOB chair
Financial & markets regulation
UK government faces £150bn bill to cover Bank of England’s QE losses
Estimated cost to taxpayers has increased sharply as interest rates have risen
Central banks