M&A-focused hedge funds lead the pack in May, Goldman Sachs says
By Nell Mackenzie and Anousha Sakoui LONDON (Reuters) - Hedge fund managers making bets on mergers and acquisitions outperformed those deploying other strategies with a return of 7.7% in the first five months of 2024, Goldman Sachs said in a note ...
41m ago
Vista says MNC Capital's likely pressure may have prompted bidder to pull offer for unit
(Reuters) - Vista Outdoor said on Monday that possible pressure from investment firm MNC Capital might have forced one of the bidders for the company's sporting products business to drop its $2 billion offer. MNC's allegations that the bidder viola...
1h ago
German metalworkers' union demands 7% higher wages ahead of bargaining round
FRANKFURT (Reuters) - The leadership of German metalworkers' union IG Metall on Monday advised its members to demand 7% higher wages in the upcoming collective bargaining round, well above the current inflation rate. IG Metall, Germany's largest in...
1h ago
Adidas shares fall on investigation into China corruption allegation
(Reuters) - Adidas shares dropped 4% on Monday after the German sportswear brand said it was investigating allegations of corruption in China after receiving an anonymous letter. "Adidas takes allegations of possible compliance violations very seri...
2h ago
LandBridge aims to raise up to $319 million in US IPO
(Reuters) - LandBridge, an acquirer of oil-rich lands in the Permian Basin, said on Monday it was looking to raise up to $319 million in its initial public offering in the United States. The company said it plans to sell 14.5 million shares at a pr...
2h ago
EU regulators to decide on Bunge and Viterra's $34 billion deal by July 18
By Foo Yun Chee BRUSSELS (Reuters) - U.S. grains merchant Bunge and Glencore-backed Viterra's plan to create a $34 billion agricultural trading giant will be decided by EU antitrust regulators by July 18, a European Commission filing showed on Mond...
2h ago
StanChart loses bid to cut US sanctions breach claims from UK lawsuit
(Reuters) - Standard Chartered on Monday lost a bid to cut from a London lawsuit allegations that it broke U.S. sanctions against Iran in a more widespread way than it has previously admitted. More than 200 investors are suing Standard Chartered at...
2h ago
Lagarde says ECB attentive to good functioning of markets after France spooks investors
PARIS (Reuters) - The European Central Bank pays close attention to the smooth functioning of financial markets, ECB President Christine Lagarde said on Monday, after French President Emmanuel Macron's call for a snap parliamentary vote last week s...
2h ago
Futures pull back as investors await data, Fed comments
(Reuters) - U.S. stock index futures were mixed in muted trading on Monday as investors awaited fresh economic data and comments from Federal Reserve officials for more clarity on monetary policy. S&P 500 futures retreated slightly after hitting mu...
3h ago
Factbox-Western rare earths supply chain springs into gear
MELBOURNE (Reuters) - Global supply chains for rare earths are realigning to diversify away from top producer China to make permanent magnets used in products from electric vehicles to wind turbines and drones. Below are companies that have or are ...
3h ago
Analysis-Global gasoline refining margins slump on slow summer driving season
By Shariq Khan, Mohi Narayan and Ahmad Ghaddar NEW YORK/NEW DELHI/LONDON (Reuters) - Oil refiners are making less money selling their gasoline as demand during the peak summer driving season has fallen short of what they expected when many of them ...
4h ago
MercadoLibre's fintech arm sees credit-card reader boom in Mexico
By Kylie Madry MEXICO CITY (Reuters) - Latin American e-commerce giant MercadoLibre's fintech arm, Mercado Pago, has seen adoption of its slim mobile credit-card readers more than double in the past year, gaining on competing options from banks and...
4h ago
Morning Bid: Buoyant US eyes French angst, China home woes
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street stocks and bonds remained relatively buoyant after last week's action-packed macro week with world markets drawn more to French political uncertainty and the deepening Chine...
4h ago
Berkshire Hathaway sells $39.8 million of shares in China's BYD
BEIJING (Reuters) - Berkshire Hathaway, the investment company owned by Warren Buffett, has sold 1.3 million Hong Kong-listed shares of electric vehicle maker BYD for HK$310.5 million ($39.8 million), a stock exchange filing showed on Monday. The s...
4h ago
ECB's Lane plays down need for French bond rescue
By Balazs Koranyi LONDON (Reuters) - The European Central Bank's chief economist played down on Monday the need for the ECB to come to France's rescue by buying bonds, saying recent market turmoil fuelled by political uncertainty was not "disorderl...
4h ago
Analysis-Brazil joins race to loosen China's grip on rare earths industry
By Melanie Burton and Fabio Teixeira MELBOURNE/RIO DE JANEIRO (Reuters) - Mining giant Brazil has big ambitions to build a rare earths industry as Western economies push to secure the metals needed for magnets used in green energy and defence and b...
5h ago
ECB's Lane confident of hitting inflation goal despite noisy data
LONDON (Reuters) - The European Central Bank is confident that inflation will fall back to its 2% target next year despite some "noisy" inflation along the way, the ECB's chief economist Philip Lane said on Monday. "There's a lot, a fair amount of ...
5h ago
China opens anti-dumping probe into imported pork, by-products from EU
BEIJING (Reuters) -China's commerce ministry said on Monday it has opened an anti-dumping investigation into imported pork and its by-products from the European Union, escalating tensions after the bloc imposed anti-subsidy duties on Chinese-made elect...
5h ago
London stocks rebound ahead of data-packed week
(Reuters) - London stocks made a gentle comeback on Monday, offering a glimmer of hope to investors eagerly anticipating a week brimming with key economic data, while industrial metal miners bucked the trend. By 07:12 GMT, the blue-chip FTSE 100 ed...
6h ago
European shares open higher as tech, banks shine
(Reuters) - European shares advanced on Monday, with banks recouping some losses clocked last week and as Denmark's Topdanmark jumped on the news of insurer Sampo's all-share buyout offer of its rival. As of 0709 GMT, the pan-European STOXX 600 was...
6h ago
UBS to book $0.9 billion provision linked to inherited Greensill funds
ZURICH (Reuters) - UBS expects to record a provision of around $0.9 billion, the Swiss bank said on Monday, in connection to Credit Suisse's funds linked to collapsed supply chain financing firm Greensill Capital. "The Credit Suisse Supply Chain Fi...
7h ago
At Toyota shareholder meeting, all eyes on level of support for chairman
By Daniel Leussink and Maki Shiraki TOKYO (Reuters) - Toyota Motor Chairman Akio Toyoda may be in no danger of not being re-elected at the automaker's annual general meeting on Tuesday, but any further big drop in shareholder support could lead to ...
7h ago
Economists remain split on timing of BOJ's next rate hike: Reuters poll
TOKYO (Reuters) - Economists remain split over the timing of the Bank of Japan's next interest rate hike, according to a new Reuters poll, after the central bank's decision to announce a quantitative tightening plan next month. The BOJ said on Frid...
8h ago
Goldman Sachs raises S&P 500 year-end target to 5,600
(Reuters) - Goldman Sachs has raised its 2024 year-end target for the S&P 500 Index to 5,600 from 5,200 earlier, citing strong earnings growth by five mega-cap U.S. tech stocks and a higher fair value price-to-earnings ratio multiple. Microsoft, Nv...
8h ago
Analysis-Global central banks recalibrate as the big policy easing of 2024 fizzles
By Howard Schneider and Francesco Canepa WASHINGTON (Reuters) - Six months ago the world's major central banks were primed for a move that anyone with a credit card or hoping to buy a home or run a business would cheer: A global shift to lower inte...
8h ago