BHP chief urges Anglo investors to consider takeover benefits
JOHANNESBURG/ LONDON (Reuters) - BHP Chief Executive Mike Henry said that Anglo American investors need to consider the merits of his company's bid for its smaller London-listed rival, seeking to drum up support for a proposal that has been rejecte...
1h ago
G7 to discuss global trade risks after US tariffs on China
ROME (Reuters) - The Group of Seven (G7) major democracies meeting in Italy next week will discuss the risk of fragmentation in global trade after "very tough" tariffs imposed by the United States against China, Italian Economy Minister Giancarlo G...
2h ago
Brazil airline Gol swings to net loss in first quarter
SAO PAULO (Reuters) - Brazilian airline Gol reported on Tuesday a first-quarter recurring net loss of 130.2 million reais ($25.39 million), swinging into the red after a 136.4 million-real net profit a year ago, mainly hit by financial expenses. Go...
2h ago
Amazon's cloud unit CEO Adam Selipsky to step down, Matt Garman to take his place
(Reuters) -The chief executive of Amazon.com's cloud unit Amazon Web Services, Adam Selipsky, is stepping down, the company said on Tuesday. Amazon.com's shares fell 1% in early trading. Senior Vice President Matt Garman will take on Selipsky's role at...
2h ago
Trump says US China tariffs needed on other vehicles, products
NEW YORK (Reuters) - Former U.S. President Donald Trump said the Biden administration's new tariffs on Chinese electric vehicles, semiconductors and medical products should be applied to other types of vehicles and products. "They've also got to do...
2h ago
Tesla is sued over emissions from California plant
By Jonathan Stempel and Clark Mindock (Reuters) - Tesla has been sued by an environmental nonprofit that accused Elon Musk's electric car company of violating the federal Clean Air Act hundreds of times by letting its Fremont, California, plant emi...
2h ago
Tesla strike in Sweden heats up as nation's largest union joins fray
By Marie Mannes STOCKHOLM (Reuters) - Sweden's biggest union on Tuesday threw its weight behind a six-month-old strike by mechanics at Tesla, escalating a conflict the notoriously union-shy company is facing with a Nordic labour force committed to ...
2h ago
Exclusive-Anglo American explores De Beers IPO as part of break-up, sources say
LONDON (Reuters) - Anglo American is exploring an initial public offering of its diamond business De Beers, two people familiar with the matter told Reuters on Tuesday, with London the preferred venue, one of them said. The potential listing was t...
2h ago
Delayed Fed cuts could also slow ECB, Wunsch says
FRANKFURT (Reuters) - The European Central Bank's first two interest rate cuts are a "no brainer" but slower than expected policy easing in the U.S. could delay some of the ECB's moves, Belgian central bank chief Pierre Wunsch told German newspaper...
2h ago
US producer prices increase more than expected in April
WASHINGTON (Reuters) - U.S. producer prices increased more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained elevated early in the second quarter. The producer price index for final dema...
3h ago
P&G plans to downplay its corporate name in ads during Paris Olympics
By Jessica DiNapoli NEW YORK (Reuters) - What is missing from the Paris 2024 Olympics? A tear-jerking corporate advertising campaign from Procter & Gamble saluting the mothers of athletes. The consumer products maker, one of the world's biggest ad ...
4h ago
Chevron tops Tesla as most-shorted stock in April, says Hazeltree
By Nell Mackenzie LONDON (Reuters) - Oil company Chevron was the most shorted U.S. stock in April, overtaking long-standing top target Tesla as short-sellers up their bets on weaker energy prices, according to a monthly report by data and tech firm...
4h ago
OPEC sticks to oil demand view, sees potential economic upside
LONDON (Reuters) - OPEC stuck to its forecast for relatively strong growth in global oil demand in 2024 on Tuesday and said there was a chance the world economy could do better than expected this year. The Organization of the Petroleum Exporting Co...
4h ago
Analysis-A US-China EV trade war threatens Biden's clean-car agenda
By Joseph White, Chris Kirkham and Nora Eckert DETROIT (Reuters) - The Biden administration's plan to slap heavy new tariffs on Chinese electric vehicles and batteries would provide temporary protection for U.S. auto jobs, potentially at the expens...
5h ago
Home Depot posts bigger-than-expected quarterly comparable sales drop
(Reuters) -Home Depot posted a bigger-than-expected drop in quarterly same-store sales on Tuesday as cautious homeowners shelled out less for big-ticket purchases while focusing on small-scale repairs. Customers are cutting back spending on discretiona...
5h ago
Brazil cosmetics maker Natura widens net loss in Q1 but margins rise
SAO PAULO (Reuters) - Brazilian cosmetics maker Natura &Co reported late on Monday a net loss of 934.9 million reais ($181.29 million) for the first quarter, larger than the 652 million-real loss it had posted a year earlier. WHY IT'S IMPORTANT The...
5h ago
US trade chief recommends higher tariffs to address China's 'unfair' practices
WASHINGTON (Reuters) - U.S. Trade Representative Katherine Tai on Tuesday recommended raising tariffs on a range of Chinese goods, saying additional actions were needed to address China's technology transfer policies and practices that harmed U.S. ...
5h ago
Inflation vigil sees single stock sideshows
A look at the day ahead in U.S. and global markets from Mike Dolan Macro markets have basically frozen ahead of this week's big U.S. inflation releases, with sideshow entertainment provided by a fresh burst in activity in so-called 'meme stocks' while ...
5h ago
China's Alibaba beats quarterly revenue estimates, profit drops
(Reuters) -China's Alibaba Group Holding beat analysts' estimates for fourth-quarter revenue on Tuesday, as a focus on low-cost goods in response to cautious consumer spending helped boost domestic e-commerce sales in the three-month period. Its U.S.-...
5h ago
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 ...
6h 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 ...
6h 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...
6h 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...
6h 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...
7h 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...
7h ago