GameStop and AMC surge evokes 2021 meme stocks saga
(Reuters) - Shares of GameStop and AMC jumped nearly 40% each in premarket trading on Tuesday, and are on track to extend gains from a day earlier when a series of posts from "Roaring Kitty" rekindled a rally reminiscent of the meme stocks trading ...
8h ago
Factbox-US companies with highest exposure to China
(Reuters) - U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an election-year standoff with Beijing in a bid to ...
8h ago
South Africa's unemployment rate rises weeks before election
PRETORIA (Reuters) -South Africa's unemployment rate rose to 32.9% in the first quarter of 2024 from 32.1% in the fourth quarter of 2023, statistics agency data showed on Tuesday, two weeks before an election where joblessness is a key voter concern. S...
8h ago
US opens probe into Alphabet's Waymo over performance of self-driving vehicles
WASHINGTON (Reuters) - U.S. auto safety regulators said Tuesday they have opened an investigation into the performance of Alphabet's Waymo self-driving vehicles after reports of its robotaxis exhibiting driving behavior that potentially violated tr...
8h ago
BoE's Pill says UK labour market remains tight
LONDON (Reuters) - Britain's labour market remains tight by historical standards despite some signs of a rise in unemployment and a gradual slowdown in the pace of pay growth, Bank of England Chief Economist Huw Pill said on Tuesday. "We actually g...
8h ago
China's Tencent posts strong revenue growth as ad sales, business services shine
By Josh Ye HONG KONG (Reuters) -China's Tencent Holdings posted a 6% rise in first-quarter revenue on Tuesday, beating analyst expectations, as business services and advertising sales deliver strong revenue growth. The world's largest video gam...
8h ago
German investor morale hits two-year high in May
By Maria Martinez BERLIN (Reuters) -German investor morale improved more than expected in May, reaching its highest level since February 2022, when Russia invaded Ukraine, the ZEW economic research institute said on Tuesday. The economic sentiment ind...
8h ago
Biden sharply hikes US tariffs on billions in Chinese chips, cars
By Trevor Hunnicutt and Jeff Mason WASHINGTON (Reuters) - U.S. President Joe Biden on Tuesday unveiled a bundle of steep tariff increases on an array of Chinese imports including electric vehicles, computer chips and medical products, risking an el...
9h ago
Foreign investment in Germany reaches new record
By Rene Wagner BERLIN (Reuters) - Foreign companies announced record levels of new investment in Germany last year despite the economic downturn and high energy prices, according to an analysis published on Tuesday by the federal development agency...
9h ago
UK pay grows by more than expected as BoE mulls rate cuts
By Suban Abdulla LONDON (Reuters) -British wages excluding bonuses - in the sights of the Bank of England as it considers when to cut interest rates - grew by a stronger-than-expected 6.0% in the first three months of 2024 compared with the same period...
10h ago
European shares muted ahead of US inflation, Powell remarks; Delivery Hero spikes
(Reuters) - European shares were subdued on Tuesday as investors braced for key U.S. inflation data and Federal Reserve Chair Jerome Powell's remarks due later in the day, while Delivery Hero jumped on the sale of its Taiwan foodpanda business to U...
10h ago
India's April wholesale price index rises 1.26% from year earlier
NEW DELHI (Reuters) - India's wholesale price-based inflation in April rose 1.26%, mainly driven by food and primary articles, government data showed on Tuesday. The April figures were higher than the 1% rise expected by economists polled by Reuter...
10h ago
Rate cut bets make investors 'most bullish' since Nov 2021 - BofA survey
MILAN (Reuters) - Expectations over interest rate cuts rather than earnings optimism has made investors the "most bullish" since November 2021, Bank of America's monthly fund manager survey for May showed on Tuesday. The survey of global fund manag...
11h ago
German final inflation confirmed at 2.4% in April
BERLIN (Reuters) - German inflation inched up in April to 2.4%, the federal statistics office said on Tuesday, confirming preliminary data. German consumer prices, harmonised to compare with other European Union countries, had risen by 2.3% year-on...
11h ago
Sony posts 7% fall in annual profit
TOKYO (Reuters) - Japan's Sony Group reported a 7% fall in annual operating profit on Tuesday. Profit for the year ended March was 1.2 trillion yen ($7.67 billion), in line with an average estimate from 23 analysts polled by LSEG. ($1 = 156.4200 ye...
11h ago
Apple supplier Foxconn's first-quarter profit jumps 72% but misses forecasts
TAIPEI (Reuters) -Apple supplier Foxconn reported a 72% rise in first-quarter profit, boosted by strong demand for AI servers and coming off a low base from the period a year earlier, but the growth was lower than expected. The Taiwanese company, the w...
11h ago
Cryptoverse: Retail traders sit out bitcoin rally
By Medha Singh (Reuters) - What's happened to the army of retail traders who used to drive bitcoin's biggest rallies? U.S. crypto exchange Coinbase reported just $56 billion in consumer trading volumes in the first quarter of 2024, when bitcoin lea...
12h ago
Bayer's Q1 adjusted profit beats analyst consensus
FRANKFURT (Reuters) - Bayer on Tuesday reported a 1.3% decline in adjusted earnings in the first quarter, beating analysts' forecasts on better-than-expected performance at its prescription drugs and agriculture divisions. Quarterly earnings before...
12h ago
Dollar drifts as traders eye US inflation data; frail yen in focus
By Ankur Banerjee SINGAPORE (Reuters) - The dollar was steady on Tuesday as investors awaited an inflation report this week that will likely shape the U.S. rates outlook, while the yen was hovering near a two-week low, stoking intervention worries...
12h ago
Blackstone-led consortium eyes snacks business of India's Haldiram's, sources say
By M. Sriram and Aditya Kalra MUMBAI (Reuters) - A consortium including Blackstone, Singapore state fund GIC and Abu Dhabi Investment Authority (ADIA) is in talks with India's Haldiram's for a majority stake in its snacks business at a valuation of...
13h ago
Investors expect BHP to lift Anglo American offer again
By Melanie Burton MELBOURNE (Reuters) - BHP Group is likely to sweeten its $43 billion takeover offer for Anglo American for a second time and possibly add cash, investors in both companies said on Tuesday, after the London-headquartered target re...
13h ago
Uber to buy Delivery Hero's foodpanda business in Taiwan for $950 million
(Reuters) -Ride-hailing company Uber will acquire Delivery Hero's foodpanda branded takeaway business in Taiwan for $950 million in cash, the companies said on Tuesday. Germany's Delivery Hero plans to additionally issue 8.42 million new ordinary regis...
14h ago
Asia shares hit 15-month high as traders wait for CPI
By Tom Westbrook SINGAPORE (Reuters) - Asian shares hovered around 15-month highs on Tuesday and the dollar was firm ahead of highly anticipated U.S. inflation data, while Japanese bonds were squeezed as the central bank pulled back a little on its...
15h ago
Japan will keep close communication with BOJ on forex, finance minister says
TOKYO (Reuters) - Japan's Finance Minister Shunichi Suzuki said on Tuesday the government will closely work with the Bank of Japan on foreign exchange to ensure there is no friction between their mutual policy objectives. "We'll take all possible m...
15h ago
Walmart to lay off hundreds of corporate staff and relocate others, WSJ reports
(Reuters) - Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices, the Wall Street Journal reported on Monday, citing people familiar with the matter. Meanwhile, workers at the U.S. retail giant's smaller o...
16h ago