ESR halts trading on potential take-private plan, sources say
By Kane Wu and Julie Zhu HONG KONG (Reuters) - Hong Kong-listed real estate fund manager ESR Group, which halted trading in its shares on Monday, is subject to a potential take-private bid from a group of investors including Starwood Capital Group,...
13h ago
Morning bid: Earnings hurdle cleared - CPI fence up next
A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street and world stock markets have cleared the first-quarter corporate earnings season comfortably enough to be back stalking record highs, but macro markets don't want to budge m...
14h ago
Bill Hwang trial over $36 billion Archegos collapse begins with opening statements
(Reuters) - The trial of Sung Kook "Bill" Hwang kicks off with opening statements in Manhattan federal court on Monday on charges stemming from the 2021 collapse of his $36 billion fund Archegos Capital Management. The case has been closely watched...
14h ago
Strong Walmart earnings may already be priced in with shares near record
By Siddharth Cavale and Noel Randewich NEW YORK (Reuters) - Walmart's earnings amid signs of weaker discretionary spending could add fuel to a rally that has propelled its shares to record highs, or potentially spook investors looking to justify th...
14h ago
Massachusetts takes Uber, Lyft to trial over status of gig workers
By Nate Raymond BOSTON (Reuters) - Uber Technologies and Lyft are set to face trial on Monday in a U.S. lawsuit by Massachusetts' attorney general alleging the ride-share companies misclassified their drivers as independent contractors rather than ...
14h ago
US opens probe into Amazon-owned Zoox robotaxis
(Reuters) -The U.S. National Highway Traffic Safety Administration (NHTSA) has opened a preliminary evaluation into Amazon.com's self-driving Zoox vehicles due to unexpected braking leading to rear-end collisions. The auto safety regulator's Office of ...
15h ago
The case for forever high interest rates
By Yoruk Bahceli (Reuters) - If financial markets are right, interest rates won't just stay high this year, but possibly forever. The return of inflation means ultra-low rates are history. And markets now reflect a scenario where even the neutral i...
15h ago
Explainer-How hard will new Biden tariffs hit China?
By Ellen Zhang and Sarah Wu BEIJING (Reuters) - U.S. President Joe Biden is set to announce new China tariffs as soon as Tuesday, targeting sectors including electric vehicles, medical supplies and solar equipment, according to people familiar with...
15h ago
Europe's STOXX 600 opens higher as travel and leisure sector shines
(Reuters) - Europe's STOXX 600 index edged higher on Monday as travel and leisure stocks led sectoral gains, with this week's key U.S. inflation prints and a slew of economic data from the euro zone set to test the benchmark index's record-breaking...
17h ago
Eni eyes new oil and gas spin-offs in energy transition satellite strategy
By Francesca Landini and Ron Bousso MILAN (Reuters) - Italian energy group Eni could spin off stakes in high-potential oil and gas projects, including in Indonesia and Ivory Coast, to help finance their development while focusing more capital on lo...
17h ago
Analysis: Gazprom loss shows struggle to fill EU gas sales gap with China
By Vladimir Soldatkin MOSCOW (Reuters) - Kremlin-owned energy kingpin Gazprom, once Russia's most profitable company, could face a long period of poor performance as it struggles to fill the gap of lost European gas sales with its domestic market a...
17h ago
SoftBank swings to Q4 profit of $2.1 billion
TOKYO (Reuters) - Japanese technology giant SoftBank Group swung to a quarterly profit on Monday, reporting a net profit of 328.9 billion yen ($2.11 billion) for the January-March period. The Vision Fund investment unit booked an investment loss of...
17h ago
Morning Bid: With US inflation, every decimal counts
By Wayne Cole (Reuters) - A look at the day ahead in European and global markets from Wayne Cole. It's finally the week of the U.S. consumer price lottery, and never has a second decimal been so important. The median forecast for core CPI is 0.3%, ...
18h ago
France gets $16 billion of foreign investments as part of 'Choose France' event
PARIS (Reuters) -This year's "Choose France" event - an annual summit aimed at attracting foreign investment to France - will result in 15 billion euros ($16.2 billion) worth of foreign investments, up from last year, said the French presidency on Mond...
19h ago
Asia stocks brace for US inflation test, China data
By Wayne Cole SYDNEY (Reuters) - Asian share markets made a cautious start on Monday in a week where inflation figures could make or break hopes for earlier U.S. rate cuts, while Chinese activity data will test optimism about a sustained recovery i...
20h ago
Australia to boast budget surplus, eye inflation's earlier return to target
By Stella Qiu and Wayne Cole SYDNEY (Reuters) - Australia's government is expected to boast another surplus in its annual budget due on Tuesday, courtesy of strong employment and high commodity prices, giving it cash to afford more cost of living r...
20h ago
South Korea tightens scrutiny to speed up real estate restructuring
SEOUL (Reuters) - South Korea's financial watchdog said on Monday it was expanding and toughening the assessment of real estate projects in a bid to speed up restructuring of the sector. House prices in South Korea have been falling since June, 202...
21h ago
Schumer urges FTC to hit the brakes on $53 billion Chevron-Hess merger
(Reuters) - U.S Senate Majority Leader Chuck Schumer on Sunday urged the Federal Trade Commission to "pump the breaks" on Chevron Corp's proposed $53 billion acquisition of Hess Corp. "The FTC should side with consumers and pump the breaks on this ...
22h ago
Currency market calm as US inflation data holds focus this week
By Brigid Riley TOKYO (Reuters) - Major currencies were steady on Monday with the dollar consolidating against peers, as market participants awaited U.S. inflation data to assess the prospects of interest rate cuts this year. After a softer-than-ex...
23h ago
Oil extends decline on signs of weak fuel demand, strong dollar
By Florence Tan SINGAPORE (Reuters) - Oil prices extended declines on Monday amid signs of weak fuel demand and as comments from U.S. Federal Reserve officials dampened hopes of interest rate cuts, which could slow growth and crimp fuel demand in t...
23h ago
Chinese e-commerce giants face delicate balance between discounts, profit
By Casey Hall SHANGHAI (Reuters) - Quarterly earnings reports from Chinese e-commerce giants Alibaba and JD.com this week will be closely watched as barometers for the mood of consumers in the world's second-largest economy. Both firms, which combi...
May 12, 2024
Morning Bid: Inflation, tariffs dominate market landscape
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets. Inflation data from the world's three largest economies - China, the United States and euro zone - sets the tone for world markets this week, and Asia gets the ball rolling on ...
May 12, 2024
Chinese companies win more bids to explore for Iraq oil and gas
By Moayed Kenany, Adam Makary and Timour Azhari BAGHDAD (Reuters) -Chinese companies won five more bids to explore Iraqi oil and gas fields, Iraq's oil minister said on Sunday, as the Middle Eastern country's hydrocarbon exploration licensing round con...
May 12, 2024
British newspaper groups warn Apple over ad-blocking plans, FT reports
(Reuters) -British newspaper groups have warned Apple that any move to impose a so-called "web eraser" tool to block advertisements would put the financial sustainability of journalism at risk, the Financial Times reported on Sunday. Apple is preparing...
May 12, 2024
France wins jobs at Morgan Stanley and other investments ahead of key summit
By Sudip Kar-Gupta PARIS (Reuters) - France said Morgan Stanley would open a new European office in Paris, while two other companies announced a combined investment worth 700 million euros ($753.8 million), as the country prepared to host a key ann...
May 12, 2024