Finance

Nvidia makes new push for Apple's mantle

A look at the day ahead in European and global markets from Vidya Ranganathan.

Malaysia eyes more subsidy cuts, new taxes in 2025 budget to boost finances

By Danial Azhar KUALA LUMPUR - Malaysia will likely introduce further subsidy cuts and new taxes as part of its budget for next year, analysts and economists said, as it looks to strengthen its fiscal

BOJ to forgo another rate hike by year-end, say slim majority of economists: Reuters poll

The Bank of Japan (BOJ) will forgo raising interest rates again this year, according to a very slim majority of economists in a Reuters poll, although nearly 90%

IMF says global public debt to top $100 trillion, growth may accelerate

The world's total public debt is set to exceed $100 trillion this year for the first time, and may grow more quickly than forecast as political sentiment favors

China banks weigh trimming deposit rates as early as this week, Bloomberg News reports

Chinese banks are set to cut rates on 300 trillion yuan ($42.20 trillion) of deposits as soon as this week, Bloomberg News reported on Tuesday, citing people familiar with the matter.

Japan PM seeks extra budget exceeding 13 trillion yen, Nikkei says

Japanese Prime Minister Shigeru Ishiba said his government is aiming to compile a supplementary budget for the current fiscal year in excess of last year's 13.1 trillion yen ($87.6

China may raise $850 billion in new debt over three years to spur growth, says report

China may raise an additional 6 trillion yuan ($850 billion) from special treasury bonds over three years to stimulate a sagging economy, local media

Wall St ends lower on tech weakness, oil extends slide

U.S. stocks closed down on Tuesday, following world stocks lower as a weak sales forecast from chipmaker ASML weighed on tech shares, while crude extended its

Growth across Pacific slows as post-pandemic rebound fades, says World Bank

Growth across the Pacific Islands is expected to slow to 3.6% this year, down from 5.8% in 2023, as a post-pandemic rebound fades and Fiji, contributing half of

US dollar continues uptrend as Fed policy provides lift

The U.S. dollar edged higher against most major currencies on Tuesday, resuming the latest uptrend that took it to more than two-month highs fueled by

Oil plunges 4% as Iran supply disruption concerns ease, demand outlook weakens

Oil prices tumbled more than 4% to a near two-week low on Tuesday due to a weaker demand outlook and after a media report said Israel would not strike Iranian nuclear and oil sites,

Chinese developer Sino-Ocean expects to generate $2.8 billion cash to repay offshore debt

Chinese property developer Sino-Ocean Group said on Tuesday its restructuring plan was being implemented in an orderly manner and it expects to generate $2.8 billion in cash over the next

Tokyo Metro raises $2.3 billion in Japan's biggest IPO in 6 years

Tokyo Metro raised 348.6 billion yen ($2.3 billion) in Japan's largest initial public offering in six years after pricing its IPO at the top of its

Central banks remain keen buyers of gold, representatives tell bullion conference

Central banks remain keen buyers of gold to diversify their reserves for financial or strategic reasons, representatives of three central banks told the London Bullion Market

Global EV sales up 30.5% in September as China shines, Europe recuperates

Global sales of fully electric and plug-in hybrid vehicles rose by an annual 30.5% in September, as China surpassed its record numbers recorded

Japan Inc's shareholders increasingly challenge management

Shareholders of Japan's largest companies are increasingly voting against management resolutions, data showed on Tuesday, spurred on by guidance on effective

Changes in store for Medicare Advantage as open enrollment starts

Changes in store for Medicare Advantage as open enrollment starts

Verizon bid for Frontier faces investor skepticism, sources say

Some of Frontier Communications' largest shareholders are concerned about its planned $9.6 billion takeover by Verizon Communications, with its second-

Dozens of pro-Palestinian protesters arrested outside New York Stock Exchange

Police arrested more than 200 pro-Palestinian demonstrators who had staged a sit-in outside the New York Stock Exchange on Monday to demand an end to U.S. support for

MORNING Bid: Tokyo reopens to S&P 500 record, yuan down

A look at the day ahead in Asian markets. 

CoverGirl parent Coty estimates first-quarter sales below forecast

CoverGirl parent Coty on Monday estimated first-quarter like-for-like sales growth below its prior forecast due to a slowdown in the U.S., sending its shares down 6% in after-market trading

Middle East supply disruption potential could send oil above $100/bbl, Citi says

Citi Research on Monday raised its bull case scenario for oil prices for this quarter and the next one, citing heightened potential of the market to fear or realize supply losses during

Phillips 66 aims at $3 billion divestitures target with Swiss venture stake sale

Phillips 66 will sell its 49% non-operated equity interest in Coop Mineraloel AG to its Swiss joint venture partner for $1.24 billion, the U.S. refiner said on Monday.

Banking deals can make banks too big and hurt consumers, Sabadell chair says

Banking consolidation is not always the best way to create shareholder value and can lead to oligopolies that are bad for clients, Chair

Starbucks is scaling back discounts and promotions

Starbucks is scaling back discounts and promotions

Blue Cross Blue Shield settles US health provider class action for $2.8 billion

Insurer Blue Cross Blue Shield has agreed to pay $2.8 billion to resolve antitrust class action claims by hospital systems, physicians and other health providers alleging

Stellantis Chair Elkann: not interested in buying competitors - AFP

Stellantis is not seeking to merge with or to buy other players, John Elkann, chairman of the French-Italian automaker, told news agency AFP on Monday, amid recent rumours of a tie-

Brazil's Petrobras and miner Vale have decarbonization partnership in works

Brazil's Petrobras is discussing a partnership with Vale to help the mining company lower carbon emissions, the state-run oil firm's Chief Executive Magda Chambriard said on

Fed's Waller "more cautious" on rate cuts

Citing a recent uptick in inflation and data showing the U.S. economy and labor market are stronger than previously thought, Federal Reserve Governor

True Value declares bankruptcy and sells itself to a hardware rival

True Value declares bankruptcy and sells itself to a hardware rival

Dozens of pro-Palestinian protesters arrested outside New York Stock Exchange

Dozens of people protesting Israel’s war in Gaza have been arrested in a sit-in outside the New York Stock Exchange

Stellantis CEO says carmaker is on pace to fix sales problems after poor performance this year

Stellantis is fixing its slowing U.S. sales at the right pace after fumbling a marketing plan earlier this year, CEO Carlos Tavares told reporters Monday

Shares of Trump Media extend huge comeback

Shares of former U.S.

World Health Organization receives $1 billion in pledges for next budget

The World Health Organization said it received pledges worth $700 million for its 2025-2028 budget at a event in Berlin on Monday, in addition to $300 million already pledged by the

WNBA and players' union closing in on opt out date for current collective bargaining agreement

The WNBA had a record year in terms of growth in viewership and attendance, and with that the players now want a bigger piece of the financial pie

Nvidia notches record close, could unseat Apple as most valuable company

Shares of Nvidia closed at their highest ever on Monday, putting the heavyweight AI chipmaker on the brink of dethroning Apple as the world's most valuable company.

Legendary Entertainment buys out Dalian Wanda's stake in the Hollywood studio

Legendary Entertainment on Monday said it had completed a buyout of Chinese conglomerate Dalian Wanda Group's remaining stake in the movie studio and will be wholly owned by Apollo Global.

Australia plans to reduce bank card surcharges from 2026

Australia is planning to reduce bank card surcharges, including the elimination of transaction fees on debit cards, the government said on Monday, as the use of cash declines in the

Britain has no plans for EU-style tariffs on Chinese EVs

Britain does not plan to follow the European Union in imposing tariffs on imports of electric vehicles from China as UK businesses have not raised a complaint to be investigated,

Turkish economy to cool more than government expects

Turkey's economy will grow 3% this year and next, lower than the government's recently updated forecasts, a Reuters poll of economists showed on Monday, pointing to a much deeper

Hard to see Chinese EV price deal by end of October, says EU official

EU talks with Beijing on minimum import prices to avert the bloc's tariffs on China-built electric vehicles pose a "formidable challenge" as cars are complex

Vanda Pharmaceuticals rejects Cycle Pharma's second takeover offer

Vanda Pharmaceuticals on Monday rejected UK-based Cycle Pharmaceuticals' second takeover proposal, which values the drugmaker at $8 per share despite a drop in Vanda's stock following the

EU 'wants level playing field', but still negotiating with China on car tariffs

The European Union wants a level playing field with China on car tariffs and is negotiating with Beijing on mechanisms such as price commitments or investments in Europe as a

Brazil's economic activity beats forecast in August, reinforcing rate-hiking path

Brazil's economic activity again surprised on the upside in August, central bank data showed on Monday, reinforcing a view of heated economic momentum that prompted policymakers

Brazil c bank reiterates GDP as key input; higher growth seen as possible

Brazil's central bank sees strong economic activity as a key input for its monetary policy decision, incoming governor Gabriel Galipolo said on Monday, as the government

HSBC probes China Pinnacle wealth business on costs and control, say sources

HSBC Holdings Plc is reviewing expenses and operational controls at its China digital wealth business Pinnacle, in a move

S&P Global says countries likely to default more often in coming decade

Countries are likely to default more frequently on their foreign currency debt in the coming decade than they did in the past due to higher debt and an increase in

As OpenAI attracts billions in new investment, its goal of balancing profit with purpose is getting more challenging to pull off

Unlike other big tech companies, OpenAI is the for-profit subsidiary of a nonprofit overseen by the nonprofit’s board of directors. Many media outlets report that this arrangement could soon change.

Elliott takes Southwest fight to shareholders, nominates eight directors

Elliott Investment Management is taking its fight with Southwest Airlines to investors by calling for a special shareholder meeting where they can vote on new

Boeing prepares layoff notices for thousands of workers as turmoil deepens

Thousands of Boeing staff will get layoff notices within weeks, a union and industry sources said, as a senior U.S. official flew to

Food pushes India's retail inflation to nine-month high in September

India's retail inflation in September accelerated to its highest in nine months, due to higher food prices, according to government data

Panama to stick to economic targets despite budget backtrack, minister says

Panama will stick to its economic forecasts for next year even though the government withdrew its budget proposal after pushback from Congress,

BYD tells EU to 'stay away' from tariffs as it expands European supply chain

Chinese EV giant BYD on Monday slammed the EU's planned tariffs on Chinese-made EVs but said it planned to make almost all the cars it sells in Europe locally,

Catalent to sell New Jersey facility

Catalent has agreed to sell its oral drug development and small-scale manufacturing facility in Somerset, New Jersey to private contract drug manufacturer Ardena, the companies said on

Denmark's Lundbeck bets on epilepsy drug with $2.6 billion Longboard deal

H Lundbeck A/S has agreed to buy U.S.-based Longboard Pharmaceuticals for $2.6 billion, marking the biggest deal ever by the Danish drugmaker as it seeks to bolster its

GM, Barclays sign long-term credit card partnership agreement

General Motors and Barclays said on Monday they have signed a long-term credit card partnership agreement to let customers earn and redeem reward points on new Buicks, Cadillacs and other

Bank Indonesia to hold key rate at 6% on Oct. 16 amid rupiah concerns

Bank Indonesia (BI) will leave interest rates unchanged on Wednesday despite inflation falling to its lowest level since 2021, as receding expectations of

China doubts as economy struggles, US bonds closed

A look at the day ahead in U.S. and global markets from Mike Dolan With U.S.

S&P 500 ends at fresh record high, as Dow scales 43k for first time

Wall Street ended higher on Monday, with both the S&P 500 and the Dow posting fresh record finishes, as investors bought into technology stocks ahead of a busy week packed

China's September lending falls short of expectations

New bank lending in China jumped in September from the previous month but fell short of expectations, as markets await further details on fiscal stimulus

Hungary seeks housing boost from pensions ahead of 2026 election

Hungary's economy ministry proposed on Monday that savings in private pension accounts can be used tax-free for housing purposes as a one-off measure next year

Campaigners want UBS barred from US pension market, Sueddeutsche Zeitung says

A group of campaigners wants UBS to lose its exemption from U.S. regulations that allows the Swiss bank to operate in the American pension market despite breaking banking rules,

China's exports miss forecasts as lone bright spot fades

China's export growth slowed sharply in September while imports also unexpectedly decelerated, undershooting forecasts by big margins and suggesting manufacturers are

STOXX 600 ends at two-week high with eyes on earnings, ECB decision

European stocks ended Monday's choppy session at a two-week high ahead of corporate earnings and a European Central Bank policy

China's stimulus promises bring property sector hope, rather than confidence

Chinese finance industry professional Zhang Jing made enough money from a recent stock market rally to consider hopping on the housing ladder

China, Vietnam, South Korea could see 1% GDP hit from Trump presidency, say Fitch

A second Donald Trump presidency could lead to significantly lower economic growth in several Asian economies, with China, South Korea and Vietnam particularly affected, ratings

Singapore banks expect lower rates, China stimulus to boost wealth business

Singaporean banks' mainstay wealth businesses are set to drive growth in the near-term on interest rate cuts and hopes of a revival in the

Philippine central bank to trim rates twice this quarter: Reuters poll

The Philippine central bank will cut its key policy rate by 25 basis points both in October and December to support economic growth as inflation is expected to

LVMH investors jittery over anaemic China demand for European designer goods

Investors in French luxury group LVMH are eager for signs that China's new fiscal stimulus measures can finally pull wealthy and middle-class Chinese shoppers out

Stellantis CEO Tavares defends record in Paris over US crisis

Stellantis CEO Carlos Tavares alternated between defiance and contrition about the company's turnaround plans on Monday in a packed

Indonesia's Prabowo asks Sri Mulyani to remain as finance minister

Indonesia's incoming president, Prabowo Subianto, has asked current finance minister Sri Mulyani Indrawati to remain in her post under his

Stock market today: Wall Street powers higher to more records

Wall Street rolled to more records as U.S. stocks added to their all-time highs

Going all out? Five questions for the ECB

The European Central Bank looks set to deliver another interest rate cut on Thursday it had little appetite to point to just weeks ago.

China copper, iron ore stay stimulus believers, but others sceptical: Russell

Western and Chinese investors had different reactions to the latest stimulus pronouncements by Beijing, and it's likely that both groups are somewhat

China stimulus gets mixed reviews

A look at the day ahead in European and global markets from Rae Wee Beijing's latest stimulus pledges were met on Monday with a mixed and volatile response in Chinese stocks, with investors showing no

Low-cost hybrid tech gives Renault breathing space in tough EV transition

Renault CEO Luca de Meo's bet on a low-cost gearbox technology is allowing the French carmaker to gain ground in Europe's fast-growing hybrid car market, giving

Inside China's bid to build sway over global metals pricing

China is locking in steps to shape the pricing of the vast quantities of industrial metals it produces and consumes, with moves to attract

Virgin Australia reports second consecutive annual profit ahead of possible IPO

Virgin Australia said on Monday it had recorded its second consecutive annual profit and a 6.8% year-on-year increase in revenue, putting it in a stronger financial position as it looks to

BlackRock, Fidelity snap up Hyundai India shares in record $3.3 billion IPO

Hyundai Motor India sold shares worth $989.4 million to institutional investors including BlackRock and Fidelity on Monday,

S&P 500, Dow notch record closing highs, crude slumps

U.S. stocks ended higher with a boost from technology shares amid light Columbus Day trading on Monday, while crude prices dipped as investors parsed signs of

US dollar climbs to 10-week peak; euro, China's yuan fall

By Gertrude Chavez-Dreyfuss and P.J.

Goldman Sachs raises China's GDP forecast to 4.9% in 2024

Goldman Sachs raised China's gross domestic product forecast to 4.9% from 4.7% for 2024, according to a research note, citing the government's latest round of stimulus measures.

Singapore keeps monetary policy steady as Q3 growth picks up; analysts bet on Jan easing

Singapore's central bank on Monday left its monetary settings unchanged, as expected, as data showed the economy perked up in the third quarter

Oil falls 2% as OPEC cuts oil demand growth view, China concerns

Oil prices fell 2% on Monday as OPEC again lowered its outlook for 2024 and 2025 global oil demand growth while China's oil imports fell for the fifth straight

Bank results boost Wall St, China plan leaves questions

A look at the day ahead in Asian markets.

Australia's TPG to sell fibre, fixed assets to Vocus for $3.5 billion

Australia's TPG Telecom said on Monday it would carve out its fibre and fixed network infrastructure assets in a sale to Macquarie and pension fund Aware Super-owned

World Bank says 26 poorest nations in worst financial shape since 2006

The world's 26 poorest countries, home to 40% of the most poverty-stricken people, are more in debt than at any time since 2006 and increasingly vulnerable to

Chinese carmaker GAC looks at making EVs in Europe as tariffs loom

Chinese state-owned carmaker GAC is exploring the manufacture of EVs in Europe to avoid EU tariffs, the general manager of its international business told Reuters

Boeing strike has already cost the company and workers $5 billion, new analysis shows

Boeing strike has already cost the company and workers $5 billion, new analysis shows

Indonesia's Prabowo considers corporate tax cut, report says

Indonesia's incoming president, Prabowo Subianto, will review the possibility of cutting the corporate income tax to 20% from 22%, CNBC Indonesia reported on Sunday, citing an

Mitsubishi UFJ Trust bank to launch three loan funds of up to $670 million, reports Nikkei

The trust banking arm of Mitsubishi UFJ Financial Group is planning to launch three funds totalling up to 100 billion yen ($670.6 million) in the 2024 financial year to provide loans

South African former finance minister Tito Mboweni dies at 65

South Africa's former finance and labour minister and first Black central bank governor Tito Mboweni has died aged 65 following a brief illness, the presidency said late on

Vietnam, China sign 10 deals including agri trade to payment as leaders meet

Vietnam and China signed 10 agreements ranging from agriculture cooperation to cross-border QR code payments on Sunday, during Chinese Premier Li Qiang's three-day visit to Hanoi, as

Changing OpenAI's nonprofit structure would raise questions about its future

The artificial intelligence maker OpenAI may face a costly and inconvenient reckoning with its nonprofit origins even as its valuation recently exploded to $157 billion

Verdi union against Commerzbank cross-border merger regardless of bidder nationality

German trade union Verdi would oppose a cross-border merger for Commerzbank even if the bidder was not an Italian bank like UniCredit, an official said on Saturday.

Maldives picks Centerview as debt adviser amid financing crunch

The Maldives has chosen U.S.-headquartered Centerview Partners to be its adviser on debt matters as the country battles to stave off a financial crisis, two

China threatens Taiwan with more trade measures after denouncing president's speech

China is studying further trade measures against Taiwan, China's Ministry of Commerce said on Saturday, two days after Beijing denounced a speech by Taiwan President Lai Ching-te.

Japan PM Ishiba says he won't intervene in BOJ's rate policy

Japanese Prime Minister Shigeru Ishiba said on Saturday he would not intervene in monetary policy affairs, as the central bank is mandated to achieve price stability.

Turkey should continue tight, monetary policy until inflation at target, IMF says

The International Monetary Fund called for continued tight, data-driven monetary policy in Turkey until inflation converges to target as it concluded an Article IV consultation.

China unveils fiscal stimulus measures to revive growth

China's finance ministry on Saturday unveiled a fiscal stimulus package aimed at reviving the flagging economy and achieving the government's growth target, though it did not

China's stimulus message leaves investors wanting though hanging onto hope

China's highly anticipated announcement of financial stimulus plans on Saturday was big on intent but low on the

China's finance minister says there is room for more economic stimulus but offers no plan

China's finance minister says the government is looking at additional ways to boost the economy, but he didn't unveil a major new stimulus plan at a news conference Saturday

Bain makes binding offer for Fuji Soft, 7% higher than rival KKR

U.S. buyout fund Bain Capital made a binding offer to buy Fuji Soft for 9,450 yen a share in a deal that values the Japanese software developer at $4 billion and outbids rival KKR by

China's briefing on stimulus gets lukewarm investor reception

China said on Saturday it will "significantly increase" government debt issuance to offer subsidies to people with low incomes, support the property market and replenish state

China flags more fiscal stimulus for economy, leaves out key details on size

China pledged on Saturday to "significantly increase" debt to revive its sputtering economy, but left investors guessing on the overall size of the

China's big banks to cut existing mortgage rates Oct 25

Four of China's biggest state-owned banks announced cuts on Saturday to existing mortgage rates starting on Oct. 25, as the authorities ramp up efforts to stimulate the world's

US court puts on hold permits for Kinder Morgan unit to build Tennessee pipeline

A U.S. appeals court on Friday put on hold approvals and permits necessary to allow a Kinder Morgan subsidiary to construct a 32-mile gas pipeline in Tennessee, at the urging of

Fisker bankruptcy plan approved after deal on vehicle tech support

Electric vehicle startup Fisker received court approval of its bankruptcy liquidation plan on Friday, following last-minute negotiations to preserve the

Fitch puts negative outlook on France's rating

Credit ratings agency Fitch revised France's outlook to "negative" from "stable" on Friday, citing increases in fiscal policy and political risks.

Elon Musk's X drops Unilever from advertiser boycott lawsuit

Elon Musk’s X on Friday dropped Unilever from a lawsuit that claimed the consumer goods giant and others conspired with an advertising industry group to boycott the

Boeing to cut 17,000 jobs, delay first 777X jet as strike hits finances

Boeing will cut 17,000 jobs -- 10% of its global workforce -- delay first deliveries of its 777X jet by a year and record $5 billion in losses in the

US flood catastrophe bonds fall sharply after Hurricane Milton

Catastrophe bonds issued by the U.S.

IMF to lower member borrowing costs by $1.2 billion annually

The International Monetary Fund on Friday approved measures that will reduce its members' borrowing costs by about $1.2 billion annually, the fund's

US credit spreads narrow to new lows as economy looks up

U.S. corporate credit spreads hit fresh multi-year lows in recent days in a sign of growing investor confidence, although some market

Health of US consumer in focus as earnings season heats up

The health of the U.S. consumer moves into the spotlight next week, with investors watching corporate earnings reports and retail sales data

US expands sanctions to Iran's 'ghost fleet' of oil tankers

The United States expanded sanctions against Iran's petroleum and petrochemical sectors on Friday in response to an Iranian missile attack on Israel, the

Treasury official says withdrawing the US from the IMF and World Bank would be a 'step backward'

U_S_ Treasury official Jay Shambaugh says withdrawing the U_S_ from the IMF and World Bank would be “a step backward."

Big US banks say consumers are still strong, despite economy fears

U.S. consumers remain resilient with solid spending in the third quarter, two of the country's biggest lenders said on Friday, although there are

Eni CEO says U.S. funds are showing confidence in group's strategy

U.S. investment funds are showing confidence in Eni's strategy of spinning off growth businesses in order to attract financial resources, the Italian energy group's CEO Claudio

US consumer sentiment slips in October on frustration over high prices

Americans’ outlook on the economy soured a bit after two months of small gains, according to the University of Michigan’s consumer sentiment index, released Friday

US consumer sentiment slips in October

U.S. consumer sentiment slipped in October amid lingering frustration over high prices, a survey showed on Friday.

Japan's Mitsui prepares a comeback to precious metals trading, sources say

Japan's Mitsui & Co plans to re-enter global precious metals trading to hedge client risk after a nine-year absence, three sources with knowledge of the matter told

UK apologises for accidentally sharing Bernard Arnault's email

Britain has apologised after Sky News reported the government had accidentally disclosed the email address of Bernard Arnault, one of the world's richest men, in the run up to a

Another key US inflation gauge fell in September

Another key US inflation gauge fell in September

QUOTES: Lot of sci-fi smoke and mirrors: Investors, experts react to Tesla's robotaxi unveil

Tesla on Thursday showcased its long-awaited robotaxi with two gull-wing doors and no steering wheel or pedals, but the glitzy event was light on detail, disappointing investors who had

Germany working to thwart UniCredit's bid for Commerzbank, sources say

Germany is working to frustrate a possible takeover of one of its biggest banks by an Italian rival, a stance that pits Berlin

Italy to grow by 0.8% this year, 0.9% in 2025, central bank says

The Italian economy will expand by 0.8% this year and by 0.9% in 2025, the country's central bank said on Friday, confirming an estimate made in July for 2024 and raising slightly

Jamie Dimon warns of ‘treacherous’ geopolitical conditions that are ‘getting worse’

Jamie Dimon warns of ‘treacherous’ geopolitical conditions that are ‘getting worse’

U.S. equity funds see outflows on rate cut views

U.S. equity funds witnessed outflows in the week to Oct. 9 as investors booked profits due to a shift in market expectations about the Federal Reserve rate cut path and a surge in bond

Traders keep bets on 25 basis point Fed rate cuts in November, December

The case for quarter-point U.S. interest rate cuts at upcoming Federal Reserve policy meetings appeared intact on Friday after a report showed producer prices were flat last month compared

Moody's cuts Volkswagen's outlook to 'negative' due to operating weakness

Rating agency Moody's has cut its outlook on Volkswagen to "negative" from "stable", citing a deteriorating operating performance at Europe's top carmaker and expected challenges

Top BRICS economic officials stay away from Moscow meeting

(This Oct. 11 story has been corrected to remove Saudi Arabia as a member of BRICS, in paragraph 4.

Wholesale inflation remained cool last month in latest sign that price pressures are slowing

Wholesale prices in the United States were unchanged last month in another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of COVID-19

US producer prices flat in September; details mixed

U.S. producer prices were unchanged in September as a modest rise in the cost of services was offset by cheaper goods, pointing to a still-favorable inflation

Stellantis, seeking to revive sales, makes some leadership changes

Stellantis, which makes Jeep and Chrysler vehicles, announced a number of significant leadership changes, including the timing of CEO Carlos Tavares’ retirement and the departure of its chief financial officer as it struggles to revive sales in North America

For markets, jury still out on French belt-tightening plan

Markets are tentatively optimistic France's budget may eventually pass its fractured parliament, but remain sceptical of how quickly the country can tidy up its finances,

Fastenal marginally beats quarterly profit estimates on demand for safety products

Industrial supplies maker Fastenal on Friday posted a third-quarter profit that marginally surpassed analysts' estimates, benefiting from a sustained demand for its safety products.

Global money market funds draw inflows for third week in a row

Global investors made large investments in money market funds in the week to Oct. 9 driven by a push back in Federal Reserve rate cut expectations and caution over the Middle East conflict

Polestar CEO announces strategic review amid drop in quarterly EV deliveries

Polestar's chief executive said on Friday the company is conducting a strategic review of its operations after reporting a 14% drop in third-quarter electric vehicle deliveries, sending

What matters most to world markets in a tight US election race

The U.S. presidential election, the most consequential vote for financial markets in an election-packed year, is weeks away.

JPMorgan net income falls as bank sets aside more money to cover potential bad loans

JPMorgan says its net income fell to $12.9 billion in the third quarter from $13.2 billion a year ago

Binance executive denied bail in Nigeria money laundering case

(This Oct. 11 story has been corrected to say 'head of financial crime compliance,' not 'head of financial compliance,' in paragraph 1, and to change 'compliance chief' to 'executive' in the headline)

Wells Fargo profit beats forecasts as provisions shrink; shares rise

Wells Fargo's profit beat analysts' expectations in the third quarter as it set aside less money than expected to cover potential loan

JPMorgan profit beats estimates on investment banking strength, higher interest income

JPMorgan Chase's third-quarter profit beat expectations as strong investment banking performance and rising interest payments offset a hit from bigger loan

BNY beats Q3 profit estimates as assets under custody and administration top $50 trillion

BNY beat third-quarter profit estimates on Friday, boosted by higher investment services fees as assets under its custody and administration exceeded the $

Russian court orders seizure of $155.8 million in JPMorgan Chase funds in VTB lawsuit

A Russian court has ordered the seizure of funds in JPMorgan Chase bank accounts in Russia totalling $155.8 million, court filings showed, as state-owned Russian bank VTB seeks

Morningstar DBRS cuts estimate for Milton insured losses to $30-60 billion

Insured losses for Hurricane Milton are likely to range between $30 billion and $60 billion, Morningstar DBRS analyst Marcos Alvarez said on Friday, below the credit

Fed 'skip' enters fray as big banks report

A look at the day ahead in U.S. and global markets from Mike Dolan Even though futures pricing had already turned queasy before the sticky September inflation report on Thursday, the prospect of the

US judge scrutinizes Boeing plea deal in fatal crashes

A federal judge on Friday pressed U.S.

BlackRock's assets hit record $11.5 trillion amid private market push

BlackRock's assets under management hit a record high for the third straight quarter as a U.S. stock market rally boosted inflows, while the

Aging Uruguay's vote to drop pension age is rattling investors

Uruguay heads to the polls to vote for a new president this month, but investors have a wary eye on another ballot: a referendum to lower the retirement age

Florida’s home insurer of last resort is in serious trouble. Will Milton put it over the edge?

Florida’s home insurer of last resort is in serious trouble. Will Milton put it over the edge?

A hurricane destroyed her home. Homeowners insurance paid her just $8,000

Two years after Hurricane Ian destroyed her Florida home, 47-year-old Amy Hawk is still fighting her insurance companies. While many of her neighbors have decided to leave the area, Hawk and her family are steadfast in rebuilding-- this time without an insurance policy. Experts say Amy’s case isn’t unusual, especially as climate change makes storms more damaging. Meena Duerson reports.

S&P 500, Dow hit records, boosted by bank earnings surprise

The S&P 500 and the Dow scored record closing highs on Friday, with the big boosts from financial stocks after banks reported strong quarterly

Surging US repo activity likely exacerbating funding pressure

A sharp steady rise in overnight repurchase agreements is overwhelming banks that serve as middlemen for such short-term borrowings in U.S. government

Faster move to neutral rate could help Bank of Canada fend off below-target inflation

The Bank of Canada is likely to lower interest rates to a neutral setting that neither restricts nor stimulates its economy more quickly than the U.S.

Airbus planemaking chief frets over suppliers but sees no Boeing strike impact

Europe's Airbus swung the spotlight on major suppliers after a drop in September deliveries that its planemaking chief called "disappointing" on Friday, but sought to

Northvolt in talks for about 200 million euros in funding, sources say

Northvolt is in talks with investors and lenders to secure about 200 million euros ($218 million) in short-term

UK stocks record second straight week of declines

London stocks rounded off the week on a dour note as investors were disappointed after China failed to announce specific measures to stimulate its

Bain sought $10 billion valuation for Japan's Kioxia, investors only wanted to pay half

Investors pushed Bain Capital to almost halve the valuation it was seeking for Japan's Kioxia in an IPO, leading the U.S. buyout firm to scrap its

America's record 'net debtor' status enters the unknown: McGeever

Foreign investors' claims on Uncle Sam have been greater than U.S. investors' claims overseas for decades, an imbalance that many analysts have long

Brembo buys suspension maker Ohlins Racing for $405 million

Italy's Brembo said on Friday it had agreed to buy suspension technology manufacturer Ohlins Racing for $405 million, in the premium brake maker's biggest ever acquisition.

Growth, shops and rates

China's GDP figures, U.S. retail sales and a rate decision by the European Central Bank headline the coming week, while earnings are under way on both sides of the Atlantic and UK markets

UK's Saga shares soar on exclusive insurance talks with Belgium's Ageas

Shares in Saga soared 11% on Friday after the British over-50s holiday group and Belgian insurer Ageas said they were in exclusive talks to set up a 20-year motor and home insurance

Stellantis dips after CEO Carlos Tavares to retire in 2026

Milan-listed shares in Stellantis slipped around 1% on Friday after the carmaker confirmed the retirement of CEO Carlos Tavares in 2026 and announced major senior management changes.

Nippon Steel to sell Calvert JV to ArcelorMittal if U.S. Steel deal completed

Nippon Steel said on Friday it will sell its entire 50% stake in a joint-venture steel plant it has in Calvert, Alabama, with ArcelorMittal, if

Sainsbury's biggest investor QIA cuts holding

The biggest shareholder in Sainsbury's, the Qatar Investment Authority (QIA), is selling 306 million pounds ($399 million) worth of shares in the British supermarket group, according

Sanofi in talks to sell 50% stake in consumer health business to CD&R

Sanofi has entered into talks to sell a controlling 50% stake in its consumer health business Opella to U.S. private equity firm Clayton Dubilier & Rice, the French pharmaceutical

Chinese equities see record weekly inflows, Japan has biggest outflow in 20 years - Barclays

Emerging market stocks saw record inflows in the week to Wednesday, Barclays said citing data from EPFR, led by record inflows into Chinese equities.

German inflation confirmed at 1.8% in September

German inflation eased to 1.8% in September, the federal statistics office said on Friday, confirming preliminary data.

UK economy returns to growth in August after two months of stagnation

Britain's economy grew in August after two consecutive months of stagnation, providing some relief to finance minister Rachel Reeves ahead of the new

French government defends budget squeeze against claims of unfairness

France's government said on Friday its 2025 belt-tightening budget was necessary to rein in its "colossal" debt burden as it faced criticism from

Markets turn cautious before uncertain weekend

A look at the day ahead in European and global markets from Tom Westbrook Friday's session brought a cautious mood to the markets, ahead of a smattering of data and an uncomfortable weekend.

Japan Sept inflation seen easing, export growth to slow: Reuters poll

Japan's core consumer inflation rate likely eased in September as energy costs eased due to government subsidies, while export growth slowed sharply, a Reuters poll showed on Friday.

Stock market today: Wall Street rises to close its latest record-setting week as banks jump

U.S. stocks rose to records as JPMorgan Chase, Wells Fargo and other big financial companies rallied on better-than-expected profit reports

Lufthansa's risky Italy bet hinges on Rome airport expansion

Lufthansa's long-promised turnaround of Italy's ITA Airways, crucial to help revive the German airline's

Harris says Biden 'courageous' for choosing to step aside

U.S.

Japan finance minister to attend G7, G20, IMF, World Bank gatherings this month

Finance Minister Katsunobu Kato said on Friday he would attend meetings of financial leaders from the Group of Seven and Group of 20 economic powers, as well as the International

Boeing files unfair labor practice charge against striking union

Boeing said late on Thursday it filed an unfair labor practice charge with the National Labor Relations Board against the union that represents about 33,000 striking U.S.

Oil settles down on Florida fuel demand worries, Mideast risk drives weekly gains

Oil prices settled lower on Friday but rose for the second straight week as investors weighed factors such as possible supply disruptions in the Middle East

Stocks climb on bank earnings boost, US yields dip

Global stocks rose on Friday, lifted by U.S. bank earnings, and on track for a weekly gain while U.S.

Dollar edges higher against major currencies as traders weigh US data

The U.S. dollar was flat against major currencies on Friday as markets digested a slew of economic data that supported the Federal Reserve's

South Korea's central bank makes first rate cut, flags room for more

South Korea's central bank cut interest rates for the first time since mid-2020 on Friday and flagged there was room to reduce further, giving some

How Kamala Harris' political and economic approach could affect the financial markets

OANDA takes a look at Kamala Harris' role as vice president, her policy positions earlier in her career, her views, and how these would affect the financial markets if she is elected president.

What the Sacramento housing market looks like at 5 different price points

Sundae compiled a list of what the housing market looks like at 5 different price points in Sacramento-Arden-Arcade-Roseville, CA.

Here are the top-selling used cars in the San Jose metro area

CoPilot analyzed national sales data to uncover the 50 top-selling used cars in the San Jose metro area.

California has seen a 43.6% increase in gas prices since last year

Routific investigated gas price changes in California during the last year using data from AAA.

Buffett's Berkshire cuts stake in BofA to below 10%

Billionaire Warren Buffett's Berkshire

Risk appetite can arrest Britain's downward spiral, think tank says

Britain's decade-long economic downward spiral could be reversed with a fresh appetite for risk that might help boost annual investment by a required 100 billion

Boeing's lawyers argue for settlement opposed by relatives of those killed in 737 Max crashes

Relatives of passengers who died in Boeing Max crashes have attended a Texas courtroom where their lawyers asked a judge to throw out a plea agreement they say is a sweetheart deal for Boeing

Stellantis CEO Carlos Tavares to retire in 2026 as automaker struggles in North America

Chrysler parent Stellantis confirmed on Thursday that CEO Carlos Tavares would retire at the end of his contract in early 2026 and announced major senior management

US inflation, China plans spell caution; BOK set to cut

A look at the day ahead in Asian markets. 

Trump promises new tax relief for car loan interest and citizens living abroad

Trump promises new tax relief for car loan interest and citizens living abroad

FTC finalizes new merger-filing requirements

The U.S Federal Trade Commission finalized changes on Thursday to a rule that determines what information companies must hand over when seeking clearance for proposed mergers

TD Bank says 2025 will be a transition year after $3 billion US penalty

TD Bank will focus on restructuring its balance sheet in the 2025 fiscal year, the bank said on Thursday, after it pleaded guilty to violating a U.S. law aimed at

CD&R nears deal to buy Sanofi's consumer unit for $16 billion, source says

Sanofi is closing in on a deal to sell its consumer health unit for about 15 billion euros ($16.4 billion) to U.S. private equity firm Clayton Dubilier & Rice (CD&R), a

Bayer must pay $78 million in latest Roundup cancer trial, jury finds

Bayer must pay $78 million to a Pennsylvania man who said he got cancer from using the company's Roundup weedkiller, a state court jury in Philadelphia found on Thursday.

US officials on TD Bank as 'easy target' for money laundering

TD Bank became the largest bank in U.S. history to plead guilty to Bank Secrecy Act program failures on Thursday, and the first bank in history to plead guilty to conspiracy to

Teva to pay $450 million to resolve US kickback, price-fixing cases

Teva Pharmaceutical Industries Ltd has agreed to pay $450 million to resolve allegations it used charities that help cover Medicare patients' out-of-pocket drug costs

Fitch says Hurricane Milton will push 2024 insured losses over $100 billion

Hurricane Milton could cause up to $50 billion in insured losses for Florida property owners, pushing insurers' estimated losses in the state over $100 billion in

World Bank board approves new Ukraine fund, with money from US, Japan, Canada, sources say

The World Bank's executive board on Thursday approved the creation of a financial intermediary fund (FIF) to support Ukraine, with contributions expected from

Canada gov't could avoid confidence vote with slim mini budget, says source

A Canadian mini budget later this year might contain no spending measures, an unusual move that would deprive the opposition of another chance to topple Prime

Russia to raise foreign company 'exit tax' to 35% from 15%, business daily reports

Russian authorities are set to raise the one-off contribution that foreign companies leaving the country must make to the state treasury to as high as 35% from 15%, the RBC business daily

US inflation rate fell to 2.4% in September − here’s what that means for interest rates and markets

Fed policymakers will be paying close attention to the latest data as their next policy meeting draws nearer.

Main spending cuts and tax increases in France's 2025 budget

France's government presented on Thursday its 2025 budget aimed at plugging a gaping hole in the public finances with 60 billion euros ($65.68 billion) worth of tax hikes and

US regulators impose penalties to resolve money laundering probes

Canada's TD Bank agreed to pay a combined $3 billion in penalties on Thursday as part of a settlement with U.S. authorities over charges it failed to monitor and prevent money laundering.

TD Bank to pay $3 billion in historic money-laundering settlement with the Justice Department

TD Bank will pay approximately $3 billion in a historic settlement with U.S. authorities who say the financial institution’s lax practices allowed significant money laundering over multiple years

Shares of Trump media company surge to highest in six weeks

Shares of former U.S.

What to know about this year's Social Security cost-of-living adjustment

Tens of millions of older Americans will see a 2.5% increase in benefits this January when a new cost-of-living adjustment is added to Social Security payments

TD Bank hit with record $3 billion fine over drug cartel money laundering

TD Bank hit with record $3 billion fine over drug cartel money laundering

Swiss National Bank vice chairman hints at further rate cuts

The Swiss National Bank could cut interest rates again this year, Vice Chairman Antoine Martin said on Thursday, citing the current moderate economic growth in the

Mortgage rates surged for the second-straight week after hitting two-year lows

Mortgage rates surged for the second-straight week after hitting two-year lows

Russia calls on BRICS partners to create alternative to IMF

(This Oct. 10 story has been corrected to remove Saudi Arabia as a member of BRICS, in paragraph 2.

Trump courts auto workers with car loan tax break, China crackdown

Republican presidential candidate Donald Trump on Thursday proposed making interest on car loans tax-deductible and preventing Chinese

Citigroup establishes banking executive team, memo shows

Citigroup has formed an executive team of senior leaders from its corporate and investment bank, according to an internal memo seen by Reuters on Thursday, as the U.S. lender aims to

US 30-year mortgage rises to 6.32%, biggest weekly gain since April, Freddie Mac says

The average rate on the popular U.S. 30-year mortgage rate increased to 6.32% this week, its largest one week increase since April, as a string of stronger-than-expected economic data

Banxico expects cooling inflation to allow for more Mexico rate cuts

The Bank of Mexico's five-member governing board expects easing inflation could allow further reductions to its benchmark interest rate, minutes from the bank's September

Fed's Williams reckons more rate cuts lie ahead, amid solid economy

Federal Reserve Bank of New York President John Williams said Thursday he expects more rate cuts lie ahead as inflation pressures continue to moderate.

TD Bank to pay $3 billion, face asset cap to resolve US money-laundering probe

TD Bank became the largest bank in U.S. history to plead guilty to violating a federal law aimed at preventing

Italy eyes Westinghouse, EDF as partners for nuclear-power firm, sources say

Italy is considering U.S. energy group Westinghouse or France's EDF as potential international partners for a state-backed

US social security benefits to rise 2.5 percent in 2025

U.S. retirees will receive a 2.5 percent increase in their Social Security checks in 2025, the Social Security Administration said on Thursday, translating into an average of roughly $50

Milton spares Daytona Beach, Florida, factory that's a critical supplier of IV fluids

A Florida factory that makes IV fluids critical to hospitals nationwide will restart after shutting down while Hurricane Milton tore through the state

Fed's Goolsbee sees gradual policy rate cuts over next 12-18 months

Chicago Federal Reserve Bank Austan Goolsbee on Thursday said he sees a series of interest-rate cuts over the next year to year and a half, noting that inflation is now near the Fed's 2%

S&P 500 earnings to put investor focus on tech, AI

Investors will be looking for evidence that investment in artificial intelligence among S&P 500 companies is beginning to pay off as the reporting season

Ukraine's inflation rises to 8.6% y/y in September

Ukraine's consumer inflation rose to 8.6% year-on-year in September driven by rising energy prices, higher business costs, and a lower harvest, the statistics service said on Thursday

America’s inflation is getting back to normal. But price problems persist

America’s inflation is getting back to normal. But price problems persist

Pfizer fight with Starboard heats up, hedge fund alleges executive pressure

The corporate clash between Pfizer and Starboard Value heated up on Thursday when the activist investment firm pressed the U.S. drugmaker to

World Trade Organization slightly raises 2024 goods trade forecast but wary of potential setbacks

The World Trade Organization has raised its outlook for global goods trade this year slightly, but cautions that increasing geopolitical tensions and uncertainty over economic policy pose “substantial” risks to its forecast

Instant view: Warm Sept CPI inflation chills outlook for dovish Fed

U.S. consumer prices rose slightly more than expected in September, but the annual increase in inflation was the smallest in more than 3-1/2 years, potentially keeping the Federal Reserve

Israel cenbank questions whether rates restrictive enough to curb inflation, deputy governor says

Bank of Israel policymakers will be watching inflation data and whether the 2025 budget plans to continue a "very expansionary" fiscal policy to help determine

US weekly jobless claims surge amid Hurricane Helene distortions

The number of Americans filing new applications for unemployment benefits surged last week, partially boosted by Hurricane Helene and furloughs at Boeing amid a nearly four-week

Fed officials signal more rate cuts, Bostic open to a skip

By Ann Saphir and Michael S.

Brazil retail sales fall less than expected in August

Retail sales volumes in Brazil fell less than expected in August from July, government statistics agency IBGE said on Thursday.

US jobless claims hit 258,000, the most in a year. Analysts point to Hurricane Helene, Boeing strike

The number of Americans filing for unemployment benefits last week jumped to its highest level in a year, which analysts are saying is more likely a result of Hurricane Helene — and the Boeing strike — than a broader softening in the labor market

US consumer prices rise on food; Hurricane Helene muddies labor market picture

U.S. consumer prices rose slightly more than expected in September amid higher food costs, but the annual increase in inflation was the smallest in more than 3-

Delta reports a profit despite its service meltdown

Delta reports a profit despite its service meltdown

United sees no impact from Boeing strike on 2025 summer schedule, route launches

United Airlines does not expect a strike by factory workers at Boeing to have any impact on its flight schedule for next summer, including new route launches,

Delta's Q3 profit fell below $1 billion after global tech outage led to thousands of cancellations

Delta Air Lines says third-quarter earnings fell 26% largely because of fallout from a technology outage that caused several thousand canceled flights in July

IKEA sales fall 5% after price cuts amid weak housing market

IKEA annual sales fell 5% after the Swedish budget homeware retailer cut prices in a bid to attract more shoppers and maintain its share of a shrinking home furniture

Air India buys 85 Airbus jets, eyes more Boeings, sources say

Air India has continued a dramatic bid to recapture a place among top carriers by placing a new order for 85 Airbus jets and now eyes more Boeings

Gimme credit: Three ways to manage kids with credit cards

For many parents, it is a familiar, sinking feeling: Adding your kid as an authorized user to your debit or credit card – and then seeing a surprise purchase pop

Domino's Pizza misses sales growth estimates as consumers go deal-hunting

Domino's Pizza fell short of Wall Street estimates for third-quarter U.S. comparable sales growth on Thursday as restaurant operators intensified their pursuit for price

BMO juices up US wine unit with new hiring, bets on industry recovery

Canada's Bank of Montreal is betting on a recovery in U.S. wine sales, juicing up the business it acquired through last year's $16-billion purchase of Bank of the

Kamala Harris win may boost US effort to rein in 'junk fees' levied on consumers

A crackdown by the U.S. consumer finance watchdog on hidden or excessive financial fees could expand to target billions of dollars in

Who are buy now, pay later borrowers, and what are they buying?

As Amazon's Prime Day kicked off the holiday shopping season this week, U.S. consumers are expected to spend a record $18.5 billion using buy now, pay later for purchases in

New stock records as storm passes and CPI due

A look at the day ahead in U.S. and global markets from Mike Dolan With U.S. stocks at new records and devastating Hurricane Milton now weakening as it passes over Florida, the shifting U.S. interest

Wall Street ends slightly lower after higher than expected inflation, jobless claims

Wall Street's main indexes closed lower on Thursday as investors looked to higher-than-expected inflation and unemployment claims for indications

Former China deputy central bank head gets suspended death sentence for taking bribes

China's former deputy central bank governor, Fan Yifei, has been sentenced to death for taking bribes with a two-year reprieve, state media said on Thursday, amid a sweeping anti-

Ukraine's parliament approves first wartime tax hikes

Parliament approved Ukraine's first major wartime tax increases on Thursday to shore up its finances as war with Russia drags on with no end in sight.

BOJ will hike rates if it has more confidence in forecasts, says deputy governor Himino

Bank of Japan Deputy Governor Ryozo Himino said on Thursday the central bank will consider raising interest rates if the board has "greater confidence" that its

Investors went wild for China during its big holiday. But Chinese shoppers showed little of that optimism

Investors went wild for China during its big holiday. But Chinese shoppers showed little of that optimism

Russian rouble hits one-year lows against major currencies

The Russian rouble weakened further on Thursday, remaining at its lowest against the U.S. dollar and China's yuan since October 2023.

China's exports likely slowed further in September as global demand cools: Reuters poll

China's exports are likely to have risen at the slowest pace in five months in September, suggesting manufacturers are no longer rushing out orders ahead of tariffs from several

Mercedes-Benz cars sales dips in Q3 on weaker demand

Mercedes-Benz saw a slight drop in cars sales in the third quarter as weaker demand, particularly in Asia, outweighed improved product availability, the carmaker said on Thursday.

European stocks end lower after US inflation data; French budget in focus

European shares closed lower on Thursday, with defence and industrial stocks leading losses, after data showed U.S. inflation ticked

Ukrainian patriotism and profits spur boom in war bonds

"Buy new bonds.

BMW and Mercedes quarterly sales drop on weak China

Sluggish demand and stiff competition in China hit third quarter sales at BMW and Mercedes, the German luxury automakers said on Thursday.

GSK shares jump on $2.2 billion Zantac settlement

GSK shares jumped as much as 6.5% on Thursday after the British drugmaker struck a $2.2 billion settlement over U.S. lawsuits that alleged its discontinued

Japanese stocks see biggest weekly foreign inflows in six months

Foreign investors increased their purchases of Japanese stocks in the week ended Oct. 5, as the yen weakened following Prime Minister Shigeru Ishiba's dovish remarks, boosting appetite for

BOJ may not be as dovish as Ueda's cautious rhetoric suggests

Japan's improving economic conditions and receding U.S. recession worries are likely to bring prospects of a December or January interest rate hike back into view,

Qatar to write off loans to boost private sector growth

Qatar is planning initiatives to boost private sector growth in the Gulf state, including writing off some loans to Qatari companies made during the COVID-19 pandemic, state

Uniqlo operator posts 3rd year of record profit, founder sets aim at Western markets

The Japanese operator of the Uniqlo clothing chain booked its third consecutive year of record earnings on Thursday, with its leader laying out an aggressive plan for

World Bank raises South Asia growth forecast to 6.4% on India demand

The World Bank raised its growth forecast for South Asia to 6.4% in 2024 from an earlier estimate of 6.0%, citing the strength of

UBS tech chief says Credit Suisse integration is on track after test run

UBS's technology chief is confident that the hugely complex integration of Credit Suisse, bringing its former rival's clients and data onto its own platforms, is "bang

IPOs stage fall comeback in Europe

Initial public offerings (IPOs) are slowly coming back in Europe after a summer lull.

French government presents 2025 belt-tightening budget

France's government delivered its 2025 budget on Thursday with plans for 60 billion euros ($65.68 billion) worth of spending cuts and tax hikes on the

Risks from potentially contested US election appear on market's radar

A tight U.S. presidential race is leading some investors to brace for an unclear or contested election result that could trip up this

Rio Tinto's real prize: Arcadium's lithium extraction technology

Rio Tinto's $6.7 billion buyout of Arcadium will give it a suite of lithium filtration technologies that are poised to revolutionize how the metal is

Nearly 86% of Japan households expect prices to rise a year from now, BOJ says

Nearly 86% of Japanese households expect prices to rise a year from now, a quarterly survey showed on Thursday, a sign of heightening inflation

China stocks party resumes with an eye on Saturday

A look at the day ahead in European and global markets from Ankur Banerjee Chinese stocks were back at it and surging on Thursday, shaking off the previous day's slump, with the focus on a Saturday

Scent and flavour maker Givaudan tops sales forecasts on strong demand

Swiss fragrance and flavour maker Givaudan reported third-quarter sales above expectations on Thursday driven by sustained high demand across its markets

How Trump could overhaul US financial regulators if he wins on Nov. 5

If Republican former President Donald Trump wins the U.S. election on Nov. 5 he is expected to swiftly overhaul the country's financial regulators, which under

Venture capital investors wary of dealmaking despite stock market momentum, report says

Venture capital investors in the United States remained cautious about dealmaking amid economic uncertainty, according to a PitchBook-NVCA report released on Thursday,

Social Security recipients will get a 2.5% cost-of-living boost in 2025, smaller than in recent past

Millions of retirees who receive Social Security benefits will see a 2.5% cost-of-living increase to their monthly checks beginning in January

Trump's small-dollar donor fundraising is beset by confusion and fatigue

Donald Trump’s contributions from small-dollar donors have plummeted since his last bid for the White House, presenting the former president with a financial challenge as he attempts to keep pace with Democrats’ fundraising machine

Japan's Seven & i unveils restructuring plan as $47 billion Couche-Tard bid looms

Seven & i Holdings announced on Thursday a roadmap to hive off underperforming businesses and focus on its convenience store operations, as the retailer aims to fend

Mexico passes inflation-matching minimum-wage reform

Mexico's Senate unanimously passed a constitutional reform guaranteeing the country's minimum wage will be revised annually to at least match inflation.

Stocks flat, longer-dated Treasury yields climb after CPI data, Fed comments

Global stocks were little changed while longer-dated U.S.

Former Pfizer CEO, CFO say they will not be involved in Starboard's campaign against drugmaker

Former Pfizer CEO Ian Read and ex-CFO Frank D'Amelio said they will not be involved with activist investor Starboard Value, which reportedly wants the U.S. drug giant to make changes to

Stock market today: Wall Street edges back from its records

U.S. stocks edged back from their record highs

India's September inflation likely overshot RBI's 4% target: Reuters poll

India's retail inflation in September likely overshot the Reserve Bank of India's (RBI) 4% medium-term target for the first time since July due

India regulatory reform could hasten homecoming of IPO-bound startups

India's scrapping of a time-consuming compliance step will accelerate the pace at which Indian startups domiciled abroad shift back home

Berkshire Hathaway raises $1.9 billion in global yen bonds, set to boost Japan bets

Warren Buffett's Berkshire Hathaway has raised 281.8 billion yen ($1.9 billion) in a yen-denominated bond offer, a move analysts say lays the ground for

Oil prices jump 4% on US storm and Israel-Iran fears

Oil prices jumped about 4% on Thursday on a spike in U.S. fuel use before Hurricane Milton barrelled across Florida, Middle East supply risks and signs that

Trump pledges to lower taxes on Americans abroad in latest attempt to woo voters

Republican presidential candidate Donald Trump has pledged to lower taxes on U.S. citizens living abroad, in his latest attempt to lure voters before the Nov.

China kicks off 500 billion yuan swap facility to aid stock market

China's central bank said on Thursday it would start accepting applications from financial institutions to join a newly created funding scheme, initially worth 500

Dollar slips against yen after data shows labor market weakness, rising inflation

The U.S. dollar slipped against the yen on Thursday as investors weighed data showing labor market weakness as well as a slight uptick in consumer prices,

New Zealand budget deficit larger than forecast in 2023-24, accounts show

The New Zealand government reported a larger-than-expected budget deficit for the 2023-24 year as lower growth hurt government revenue, the government’s accounts released

Japan's wholesale inflation perks up, yen rise eases cost pressure

Japan's wholesale inflation accelerated in September but prices of imported goods slid due to the yen's rebound, data showed on Thursday, suggesting that price

TD Bank faces $3 billion in penalties as part of US settlement, WSJ reports

Canada's TD Bank is expected to pay about $3 billion in penalties as part of a settlement with U.S. regulators and prosecutors over charges it failed to properly monitor money laundering

A third of Japan firms likely to miss H1 forecasts, Reuters poll shows

More than a third of Japanese companies are likely to miss their earnings projections for the first half of the business year that commenced in April due to slow

UK may need to hike taxes by 25 billion pounds in Oct. 30 budget, think-tank says

British finance minister Rachel Reeves may need to announce a 25 billion pound ($33 billion) tax rise in her first budget on Oct. 30 to help shore up public

Britain bolsters sanctions regime on Russia with new trade unit

Britain on Thursday launched a trade sanctions unit with new powers to penalise companies that fail to comply with restrictions on exporting services to Russia.

Fed's Daly sees one or two more interest rate cuts this year

San Francisco Federal Reserve Bank President Mary Daly on Wednesday said she "fully" supported the U.S. central bank's half-of-a-percentage-point interest-rate cut last month, and said one

Home listings climb in nation's priciest markets as locked-up inventory starts to shift

The recent pullback in mortgage rates and expectations of further easing next year may be motivating more U.S. homeowners to list their home for sale

US inflation reaches lowest point in 3 years, though some price pressures remain

Inflation in the United States dropped last month to its lowest point since it first began surging more than three years ago, adding to a spate of encouraging economic news in the closing weeks of the presidential race

Florida-based fund managers ride out Hurricane Milton and remain committed to the state

Florida's sun and low taxes enticed many hedge funds and other financial professionals to move south.

Multilateral banks could lend up to $480 billion more before rating downgrades, Fitch says 

A dozen of the largest multilateral development banks could collectively lend a further half-trillion dollars before facing rating downgrades, Fitch said in a Wednesday report, following a

Reality check for China stocks, dollar rips higher

A look at the day ahead in Asian markets. 

Azul deal with lessors good news for planemaker Embraer, analysts say

A deal between Brazilian airline Azul and its lessors to swap more than $500 million in obligations for an equity stake is good news for planemaker Embraer,

Climate solution: Form Energy secures $405M to speed development of long-awaited 100-hour battery

Form Energy, a company that is beginning to produce a longer-lasting alternative to lithium batteries, hit a milestone Wednesday with an announcement of $405 million in funding

What to know about FEMA’s $750 hurricane disaster payments

What to know about FEMA’s $750 hurricane disaster payments

Recession fears are fading. Now it’s time for America’s companies to back that up

Recession fears are fading. Now it’s time for America’s companies to back that up

US charges 3 companies, 15 people with cryptocurrency fraud

Three cryptocurrency companies and 15 people have been charged with engaging in widespread fraud and market manipulation following an investigation in which the FBI

Stellantis CEO plans major management changes amid rising pressure, Bloomberg News reports

Stellantis CEO Carlos Tavares is planning a deep management reshuffle amid the automaker's profit warning, Bloomberg News reported on Wednesday, citing people familiar with the matter.

Ecuador replaces energy minister amid power cuts

The office of Ecuador's President Daniel Noboa said in a statement on Wednesday it has replaced Energy Minister Antonio Goncalves, as the Andean country grapples with planned power

US 30-year mortgage rate jumps to 6.36%, biggest weekly gain in 15 months

The interest rate for the most popular U.S. home loan rose to 6.36% last week, marking the biggest weekly increase in more than a year after better-than-expected economic data caused

EU envoys approve up to 35 billion euros contribution to G7 loan for Ukraine

EU envoys agreed on Wednesday to give Ukraine up to 35 billion euros as part of the bloc's share in a larger planned loan from the Group of Seven nations (G7) backed

Citgo auction in jeopardy as Venezuela bondholders pursue parallel claims  

Holders of billions of dollars in Venezuelan bonds and notes have emerged as last-minute protagonists in a U.S. court case set to decide the ownership of oil

US wholesale inventories revised lower in August

U.S. wholesale inventories rose less than initially thought in August amid a sharp moderation in the pace of increase in motor vehicle stocks, a trend that if sustained could

GSK agrees to settle about 80,000 Zantac lawsuits for up to $2.2 billion

GSK has agreed to pay up to $2.2 billion to settle most lawsuits in U.S. state courts claiming that a discontinued version of the heartburn drug Zantac caused cancer, the

US regulator, financial industry monitoring impact of Hurricane Milton on investors, capital markets

The Securities and Exchange Commission and a top financial industry group said they were closely monitoring the impact of Hurricane

UN tribunal orders ex-official to repay $58.8 million lost in bad deals while getting perks

A U.N. tribunal has ordered a former high-ranking official to repay the United Nations $58.8 million lost in deals he made with a British businessman who showered him with interest-free loans, a Mercedes for his wife and perks for his sons

KinderCare valued at about $3.1 billion as shares jump in strong NYSE debut

Partners Group-backed KinderCare Learning Companies notched a market valuation of about $3.1 billion after its shares opened 12.5% above its initial

Regional banks brace for tougher capital rules, get relief from Fed cuts

U.S. regional banks preparing for higher capital requirements will get some relief from the Federal Reserve's jumbo rate cut.

Social Security's scheduled cost of living increase 'won't make a dent' for some retirees

Social Security recipients are expected to receive a smaller cost-of-living increase in January than in recent years as inflation moderates

Wider US deficits, inflationary trade policies threaten bond outlook, says PIMCO

Widening U.S. budget deficits and inflationary trade policies after the Nov. 5 presidential election could weigh on U.S. government bonds despite the near-term

Siemens files lawsuit in Texas against Citgo Petroleum parent

Siemens Energy Inc has filed a lawsuit in a Texas court against Citgo Petroleum's parent, PDV Holding, seeking to recoup about $200 million from a promissory

Mexico, Brazil inflation reports send contrasting monetary policy messages

Inflation figures released on Wednesday painted opposite scenarios for Latin America's two largest economies, indicating that Brazil will keep tightening its

Melinda French Gates launches a $250 million women’s health fund

Melinda French Gates launches a $250 million women’s health fund

Fed's Logan calls for 'gradual' rate cuts, says 'should not rush'

Dallas Federal Reserve Bank President Lorie Logan on Wednesday said she supported last month's outsized interest-rate cut but wants smaller reductions ahead, given "still real" upside

The money you forfeit when you cash out of your 401(k) can be staggering

The money you forfeit when you cash out of your 401(k) can be staggering

Brazil consumer prices pick up in September amid drought

Consumer prices in Brazil accelerated in September from the previous month due to higher electricity and food costs amid a major drought, reinforcing

Foreign money is leaving Asian equities ex-China this month, LSEG data shows

Foreign money is leaving Asian equities, excluding China, this month as concerns about hefty stock valuations and conflict in the Middle East spur investors to book profits

Mexico's annual inflation eases further, fueling rate-cut bets

Mexico's 12-month headline inflation rate fell again in September, after easing in the previous month, raising expectations that the central bank will continue to cut its benchmark interest

Column-Jamie Dimon questions public funds' private investments: Ross Kerber

JPMorgan Chase & Co CEO Jamie Dimon recently confronted public pension fund managers about channeling more of their investments into private assets, a trend he said could be

Tesla's China-made EV sales grow 19.2% y/y in Sept

Sales of U.S. automaker Tesla's China-made electric vehicles rose 19.2% in September from a year earlier, data from the China Passenger Car Association (CPCA) showed on Wednesday.

Braced for Milton as oil recoils, China retreats

A look at the day ahead in U.S. and global markets from Mike Dolan Wall St stocks roared back on Tuesday just as China doubts re-emerge - but a scattergun week now has investors navigating the impact

Should you refinance your mortgage now as rates drop?

It may not quite be the famous question of Shakespeare’s Hamlet, but it is something very much on the minds of U.S. homeowners these days: To refi or not to refi?

Ethiopia sees bondholder losses as unavoidable, hopes for fresh talks at IMF meeting

Ethiopia's bondholders will have to take a writedown as part of the country's debt restructuring, State Finance Minister Eyob Tekalign told Reuters, adding he

Equities rise after Fed minutes; inflation data and earnings in focus

Wall Street stocks advanced on Wednesday with the S&P 500 and the Dow scoring record closing highs after the release of Federal Reserve meeting

CVS, UnitedHealth, Cigna ask FTC's Khan to disqualify herself from insulin case

CVS Health, UnitedHealth Group and Cigna have asked U.S.

Fed September minutes may show whether 50 bps rate cut was a slam dunk or a hard sell

Minutes of the U.S.

Melinda French Gates will give $250M to women's health groups globally through a new open call

Melinda French Gates will grant $250 million to support women’s health around the world through an open call for nonprofits to apply for funding

Luxury goods unlikely to be next target of China's EU trade retaliation, analysts say

European

Hurricane Milton could cost insurers up to $100 billion, analysts say

Hurricane Milton could result in losses of up to $100 billion for the global insurance industry, creating a surge in 2025 reinsurance prices

Wall Street bonuses projected to rise more than 7% in 2024, NY Comptroller says

Bonuses for Wall Street dealmakers could expand by 7.4% in 2024 as a rebound in dealmaking boosts fees pocketed by investment banks, according to a report published by New York State

Stellantis set to secure Italian approval for Comau stake sale, says source

Carmaker Stellantis is on course to secure Italian government backing for its planned sale of a majority stake in robotics business Comau to One Equity Partners, a source close to the

Senate candidate Dave McCormick led hedge fund that bet against some of Pennsylvania’s most iconic companies

Senate candidate Dave McCormick led hedge fund that bet against some of Pennsylvania’s most iconic companies

Geopolitical strife could cost global economy $14.5 trln over 5 years -Lloyd's of London

The global economy could face losses of $14.5 trillion over a five-year period from a hypothetical geopolitical conflict which hits supply chains, insurance market Lloyd's of London

China September bank lending set to rise on policy support: Reuters poll

China's new yuan loans likely jumped in September from August, a Reuters poll showed on Wednesday, as the central bank ramps up stimulus to drive the

ECB policymakers press case for October rate cut

Several European Central Bank policymakers argued their case on Wednesday for another interest rate cut next week, even if some of their colleagues remained

Daimler Truck Q3 sales drop 11%, dragged down by Mercedes brand, Asia

Daimler Truck on Wednesday said third quarter sales fell by 11%, dragged down by its main Mercedes-Benz Trucks brand and its Asian unit.

STOXX 600 closes higher with focus on interest rate cuts, US data

European stocks settled higher on Wednesday, bouncing from losses in the previous session as investors focussed on upcoming interest

Singapore seen keeping monetary policy unchanged as inflation risks linger

Singapore's central bank is widely expected to keep monetary policy unchanged next week and hold off easing settings amid inflation and growth uncertainties caused

Samsung India workers reject settlement offer as strike enters 2nd month

A group of more than 1,000 striking workers at the Samsung Electronics factory in southern India has rejected a settlement offer made by the company on wage

Korean inclusion in FTSE Russell bond index seen shoring up local markets

The surprise inclusion of South Korean sovereign bonds in the FTSE Russell's benchmark bond index is expected to give the won currency a boost on Thursday

China says anti-dumping move on EU brandy is legitimate trade measure

China's anti-dumping measures against brandies imported from the European Union are "legitimate trade remedy measures", the commerce ministry said on Wednesday, a day after imposing

India cenbank governor warns non-bank lenders of 'growth-at-any-cost' approach

Some Indian non-banking finance companies (NBFCs) are aggressively pursuing growth and chasing excessive returns on equity, which could pose financial stability risks, the central

Column-Dollar won't fall as rest of world won't let it: Mike Dolan

The dollar just had its best week in two years, showing once again how dangerous it can be to bet against the U.S. currency if the rest of the world just won't let it

Carlyle-backed Rigaku looks to raise up to $870 million in Tokyo IPO

Japan X-ray testing tool maker Rigaku set a tentative initial public offering (IPO) price range of 1,230 to 1,260 yen ($8.48) per share against an initial estimate of 1,230 yen, a

French lawmakers weigh political risk of curbing boomers' costly pensions

France's government has put the country's explosive pensions issue back on the agenda as it seeks to reduce a gaping budget hole.

China's finance ministry to detail fiscal policy on Saturday

China's finance ministry will detail plans on fiscal stimulus to boost the economy at a highly-expected news conference on Saturday, the government's main information office said

ECB is 'very likely' to reduce interest rates, Villeroy says

The European Central Bank (ECB) is "very likely" to reduce its interest rates next week, policymaker Francois Villeroy de Galhau said on Wednesday.

TSMC's third-quarter revenue easily beats market forecast

TSMC, the world's largest contract chipmaker, reported on Wednesday third-quarter revenue that easily beat both the market and company's own forecasts as it reaped the benefit from

Rio Tinto goes all in on lithium with $6.7 billion Arcadium buy

Rio Tinto has agreed to buy U.S. based Arcadium Lithium for $6.7 billion, it said on Wednesday, a deal that will catapult it to become

Stock market today: Wall Street sets more records after Shanghai's worst drop since early COVID

U.S. stocks rose to records after the latest wild swerves for Chinese stocks left few ripples in markets worldwide

India cenbank holds rates, shifts stance to 'neutral' signalling rate cuts ahead

The Reserve Bank of India (RBI) kept its key interest rate unchanged on Wednesday as widely expected, but changed its policy stance to "neutral",

China stocks get a reality check; Europe shudders

A look at the day ahead in European and global markets from Tom Westbrook Gravity brought China's soaring stock market back to earth with a thud on Wednesday.

ECB's Stournaras backs two quarter-point rate cuts in 2024, FT says

European Central Bank (ECB) policymaker Yannis Stournaras is backing two interest rate cuts this year and expects further easing in 2025 as inflation continues to trend lower, he told the

IPO-bound Hyundai Motor India's operations

Hyundai Motor India's $3.3 billion IPO opened for bids on Tuesday, aiming for a valuation of up to $19 billion in India's largest share sale yet.

Hyundai prices $3 billion India IPO at 1,865-1,960 rupees per share

Hyundai Motor India has set a price range of 1,865 rupees ($22) to 1,960 rupees ($23) for its initial public offering (IPO) that opens next week for subscriptions, a advertisement in the

Oil falls as swelling US supply counters Middle East and hurricane risks

Oil prices fell on Wednesday after U.S. data showed rising crude inventories, but losses were limited by the risk of Iranian supply disruptions caused by the

Stocks, US yields up after Fed minutes; inflation data on deck

Global stocks advanced on Wednesday along with U.S.

‘I am not Satoshi Nakamoto’: Subject of HBO documentary denies he invented bitcoin

‘I am not Satoshi Nakamoto’: Subject of HBO documentary denies he invented bitcoin

China's stock rally hits speed bump as investors await more stimulus

Chinese stocks tumbled on Wednesday alongside their Hong Kong peers, as investors sought to profit from a blistering rally, which was dampened by the lack of powerful

US dollar rises to two-month highs ahead of CPI

The U.S. dollar edged higher on Wednesday, taking in stride the release of minutes from the Federal Reserve's September meeting that showed a

New Zealand cuts rates 50 bps, kiwi tumbles as markets bet on more aggressive easing

New Zealand's central bank slashed rates by 50 basis points on Wednesday and said policy is still restrictive even though inflation has returned to target,

Couche-Tard hikes bid for 7-Eleven owner to $47 billion, sources say

Canada's Alimentation Couche-Tard (ACT) has made a revised bid for Seven & i Holdings, the Japanese company said on Wednesday, which two people familiar

Fed Vice Chair Jefferson: Sept rate cut was 'timely'

The Federal Reserve's 50-basis-point interest-rate cut last month was "timely" and was neither reactive, nor proactive, Fed Vice Chair Philip Jefferson said on Tuesday.

Fed Vice Chair Jefferson: rate cut aimed at keeping US job market strong

Federal Reserve Vice Chair Philip Jefferson on Tuesday said the U.S. central bank's half-percentage-point interest-rate cut last month was aimed at keeping the labor market strong even as

Tax worries knock UK business confidence, survey shows

British business confidence fell in the third quarter as tax worries hit investment, according to a survey of accountants that chimes with similar concerns from

Uniqlo owner seen posting 24% annual profit surge on brand's overseas push

The Japanese owner of casual wear giant Uniqlo is projected to beat its own forecast in what would be a third straight year of record profits as its brand makes inroads

CBO estimates $1.8 trillion US deficit for fiscal 2024

The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt

US budget deficit hits $1.8 trillion for fiscal 2024, per CBO

US budget deficit hits $1.8 trillion for fiscal 2024, per CBO

Investors read Fed tea leaves, shrug off China stimulus

A look at the day ahead in Asian markets.

Boeing weighs options for raising cash as ratings downgrade looms, sources say

Boeing is examining options to raise billions of dollars through a sale of stock and equity-like securities, two

Citi pushes back on New York lawsuit over fraud scams

Citigroup's lawyers have urged U.S.

UK likely to free up borrowing by excluding BoE losses, Guardian reports

British Finance Minister Rachel Reeves will likely free up 10 billion to 20 billion pounds' ($13.1 billion - $26.2 billion) worth of room to borrow for capital investment by tweaking

Pfizer CEO plans to meet activist investor Starboard, FT reports

Pfizer CEO Albert Bourla plans to meet key executives of activist hedge fund Starboard Value next week, the Financial Times reported on Tuesday, citing people familiar with the matter.

Unifor initiates negotiations with Canadian Pacific Kansas City

Unifor said on Tuesday it has initiated contract negotiations with Canadian Pacific Kansas City, just weeks after it opened negotiations with Canadian National Railway.

S&P places Boeing's rating on CreditWatch negative as strike drags on

Global ratings agency S&P said on Tuesday it had placed Boeing's rating on CreditWatch negative as about 33,000 of the U.S. planemaker's workers remain on strike, halting production of its

McDonald's sues top meat packers for allegedly colluding to inflate the price of beef

McDonald’s has some beef with today’s largest meat packers

Some East Palestine derailment settlement payments should go out even during appeal of the deal

People who lived near the disastrous East Palestine train derailment last year should still be able to receive personal injury payments even while the bulk of their $600 million class action settlement with Norfolk Southern railroad remains on hold during an appeal

Italy economy minister says 2024 growth target may be out of reach

The Italian government's 1% economic growth target for this year will be more difficult to reach after downward revisions made last week by national

Argentina September inflation seen at lowest since late 2021

Argentina's monthly inflation rate is expected to have slowed to 3.5% in September, which would be the lowest monthly rate since the end of 2021, a Reuters poll of economists

Berkshire Hathaway nets $10 billion from BofA share-sale spree

Warren Buffett-led Berkshire Hathaway further cut its stake in Bank of America, a late Monday filing showed, netting the investment giant more than $10

US bank profits to shrink on interest income, focus shifts to Fed cuts

JPMorgan Chase and Wells Fargo kick off earnings for the sector on Friday, and investors are expected to focus on the big banks' forecasts for net interest income

Euro zone inflation on the decline but job not yet done, ECB's Nagel says

Euro zone inflation is on the decline but the European Central Bank must remain vigilant and ensure that price growth settles at its 2% target even over the medium term,

Arbitration rules in favour of BP as sole buyer of Kosmos Energy's Senegal LNG project

Kosmos Energy said on Tuesday a Paris-based arbitrator has ruled in favour of BP, prohibiting Kosmos from selling to third parties liquefied natural gas from the

Arcadium's vast lithium portfolio lures Rio at the right time

From northern Quebec's tundra to Argentina's Andes Mountains and the plateaus of Western Australia, Arcadium's lithium portfolio, brought together over

Bank of America names Brabazon co-head of global M&A, memo says

Bank of America has named Eamon Brabazon co-head of global mergers and acquisitions, alongside Ivan Farman, according to an internal email seen by Reuters. 

Mexico's Walmex expects final ruling from antitrust watchdog soon

Mexico's Walmex, the local unit of U.S.-based retail giant Walmart, expects antitrust watchdog Cofece to soon announce its final ruling stemming from a probe into

Crypto.com sues US SEC after receiving legal threat from regulator

Crypto.com filed a lawsuit against the U.S.

Citi hires LaVoie from Wells Fargo to head West Coast private equity M&A

Investment banker John LaVoie is joining Citigroup to head up its U.S. West Coast private equity dealmaking unit, according to an internal memo seen by Reuters on Tuesday.

Brazil's Azul eyes fresh capital raising after debt deal with lessors

Brazilian airline Azul is looking to raise fresh capital after it clinched a deal with lessors to scrap nearly $550 million in obligations, easing market

Gold and coffee boost September hedge fund returns, says Societe Generale

Gold and coffee helped to deliver trend-following hedge funds a positive result in September, a Societe Generale note showed on Tuesday, thanks to record

Kenya central bank cuts main lending rate to boost private sector credit

Kenya's central bank slashed its benchmark lending rate to 12.00% from 12.75% on Tuesday, in a move aimed at stimulating credit to the private sector, the bank's

Brazil central bank chief nominee stresses independence, conservative approach to rates

Brazilian President Luiz Inacio Lula da Silva's nominee to lead the central bank, Gabriel Galipolo, said on Tuesday that the leftist leader was emphatic and clear

Georgia to lose 121 million euros in EU funding over 'democratic backsliding', says EU delegation

The European Union delegation to Georgia said on Tuesday that the South Caucasus country would lose 121 million euros ($130 million) in funding from the bloc as a result of "democratic

Spending in presidential and congressional races projected to hit nearly $16 billion and smash records, new analysis shows

Spending in presidential and congressional races projected to hit nearly $16 billion and smash records, new analysis shows

Canada posts sixth straight monthly trade deficit in August

Canada recorded a bigger-than-expected trade deficit of C$1.1 billion ($806 million) in August, its sixth consecutive monthly shortfall, as imports

Hindenburg Research shorts Roblox, alleging inflated metrics

Hindenburg Research disclosed a short position in Roblox on Tuesday, alleging that the gaming platform popular among young children inflated metrics including user

Hungary to hold up G7 loan to Ukraine until after US election

Hungary will hold up a final deal on a $50 billion G7 loan to Ukraine until after the U.S. presidential election by delaying its decision on the timing of

Gold ETFs registered fifth month of inflows in September, says WGC

Global physically backed gold exchange-traded funds (ETFs) registered a fifth consecutive month of inflows in September as North America-listed funds added to their holdings, the

ECB to cut rates by 25bps in both Oct and Dec as euro zone economy wobbles: Reuters poll

The European Central Bank (ECB) will cut its deposit rate by 25 basis points on Oct. 17 and again in December, according to more than 90% of economists polled

Online retailer Shein's 2023 sales hit $2 billion in UK

Shein's British business made 1.55 billion pounds ($2 billion) in revenue in 2023, a filing by the online fast-fashion group showed on Tuesday, as it prepares for a hotly

Japan trusts BOJ on monetary policy, economy minister says

Japan's new economy minister, Ryosei Akazawa, said on Tuesday the government has trust in the central bank's decision on how soon to raise interest rates again, amid

Dominating US cigarette sales, a combined 7-Eleven, Circle K would face risk from vapes, cheap smokes

A Couche-Tard takeover of 7-Eleven owner Seven & i would position the combined convenience store chain to dominate U.S. cigarette sales

China is oversupplying lithium to eliminate rivals, US official says

Chinese lithium producers are flooding the global market with the critical metal and causing a "predatory" price drop as they seek to eliminate competing

Wall Street closes higher on tech buying as investors wait on inflation data

Wall Street's benchmarks finished up on Tuesday, recouping some of the previous session's losses, as investors bought back in to technology stocks and investors shifted

Stocks stall, Hang Seng decimated, oil ebbs

A look at the day ahead in U.S. and global markets from Mike Dolan World markets painted a messy picture on Tuesday, with recently pumped-up crude oil prices retreating sharply and disappointment

PepsiCo lowers revenue forecast on "subdued" sales in US, China and elsewhere

PepsiCo lowered its sales forecast for the year after consumers in the U.S., China and elsewhere pulled back on its snacks and drinks

In the Market: Fed may struggle to rid backstops of stigma amid new push

The U.S. Federal Reserve is encouraging banks to count on its long-shunned cash backstops in a bid to support its monetary policy and financial stability goals.

France's budget minister backs raising household electricity tax amid budget squeeze

The French government supports removing caps on household electricity taxes as it rushes to plug a massive hole in the country's finances, France's budget minister said on Tuesday.

Honeywell to spin off advanced materials unit in CEO's growth push

Honeywell will spin off its advanced materials unit into a publicly traded company, the U.S. conglomerate said on Tuesday, simplifying its business to sharpen its focus on aviation,

Hyundai to launch $3 billion India IPO next week at 1,865-1,960 rupees per share, sources say

Hyundai Motor India's IPO will open next week for subscriptions and will likely be priced in the range of 1,865 to 1,960 rupees ($22

Pro-Palestinian activists target UK offices of Germany's Allianz

Pro-Palestinian activists targeted the British offices of German financial services firm Allianz on Tuesday, daubing the outside with red paint in protest over the company's links to

FTSE 100 slips to one-month low as miners fall after China boost fades

Britain's benchmark FTSE 100 recorded its worst day in two months on Tuesday led by losses in miners after China refrained from specifying measures to stimulate its economy

Miners, luxury sector weigh on Europe's STOXX 600

European stocks settled lower on Tuesday, as a lack of fresh details over China's stimulus measures sparked a selloff in sectors linked

Hyundai Motor to sell 142 million shares it holds in Hyundai Motor India for IPO

Hyundai Motor said in a regulatory filing on Tuesday that it will sell 142 million shares it holds in Hyundai Motor India for the latter's initial public offering.

Northvolt subsidiary files for bankruptcy after project pulled

A subsidiary of Sweden's Northvolt filed for bankruptcy on Tuesday after the project it was developing was cancelled, court filings showed, while the rest of the cash-strapped

China puts provisional tariffs on European brandy after EU OKs duties on Chinese EVs

Chinese drinkers may pay more for Remy Martin and other European brandies after the government announced provisional tariffs of 30.6% to 39% on Tuesday

Fed's Kugler makes case for more rate cuts if inflation keeps easing

Federal Reserve Governor Adriana Kugler said on Tuesday she strongly supported the U.S. central bank's recent interest rate cut and will support further reductions if inflation continues to

China gives $28 billion to local governments as it vows to meet economic targets

China gives $28 billion to local governments as it vows to meet economic targets

Vodafone, Google deepen AI ties across Europe, Africa

Britain's Vodafone said on Tuesday it has deepened its strategic partnership with Alphabet's Google in a ten-year, billion dollar plus deal that will bring the U.S. tech giant's new

Cryptoverse: Bored bitcoin seeks direction after big bang

By Medha Singh and Lisa Pauline Mattackal Bitcoin has been distinctly listless in the past three months after starting the year with a bang.

US-based China ETFs get bumper influx, some investors optimistic tide is turning

Investors flooded U.S.-based exchange-traded funds (ETFs) that target Chinese markets with $5.2 billion in new assets in the past week when mainland China's financial

China stock frenzy gets a wet blanket

A look at the day ahead in European and global markets from Rae Wee Investors hoping for a roaring restart to China's stock rally, after the mainland's week-long holiday, were disappointed on Tuesday

Fed's Williams says appropriate again to cut rates 'over time', FT reports

Federal Reserve Bank of New York President John Williams said that it will be appropriate again for the central bank to reduce rates 'over time,' after September's big half percentage point

Bundesbank's Nagel says he is open to another ECB rate cut

Bundesbank President Joachim Nagel is open to considering another European Central Bank interest rate cut at its meeting next week, he told Table Media, adding German economic

Stock market today: Wall Street rebounds after Hong Kong stocks fall to worst day since 2008

U.S. stocks rebounded after falling oil prices released some of the pressure that built up on the market

China stock rally fizzles as stimulus optimism fades

A sharp rally in China shares at Tuesday's open lost steam as a hotly anticipated briefing by the country's state planner failed to sustain optimism for further stimulus.

China's stocks rally fizzles as stimulus offer disappoints

China's stock markets roared back from a week-long break to reach their highest levels in more than two years at the open, before paring

Dollar steadied by focus on Fed path, China, Middle East

The dollar held firm on Tuesday, treading water just under last week's seven-week highs as investors assessed the outlook for further U.S.

Stocks gain as Wall Street rallies, US yields slip

A gauge of global stocks advanced on Tuesday after a rally on Wall Street overshadowed disappointment over the lack of details in China's stimulus, as investor

Bank of Korea to kick off easing cycle with 25 bps cut on October 11: Reuters poll

The Bank of Korea will cut its key interest rate by 25 basis points to 3.25% on Friday, according to a majority of economists polled by Reuters

Samsung Electronics apologises for disappointing profit as it struggles in AI chips

Samsung Electronics warned its third-quarter profit would come in below market expectations and apologised for the disappointing

Fall in Japan's real wages, spending likely just minor bump for further BOJ hikes

Japan's inflation-adjusted wages fell in August while household spending also declined, but analysts say underlying trends point to a gradual

Oasis ticket sales help lift UK shoppers' non-essential spending, survey shows

British shoppers increased their spending slightly in annual terms in September, according to a survey on Tuesday that showed demand for tickets for the reunion of

US rates back up, stocks back down

A look at the day ahead in Asian markets.

Fed's Musalem argues for more rate cuts, says data to drive easings

Federal Reserve Bank of St.

UK business confidence slips as fears over budget tax rises grow, BCC says

British firms have grown more downbeat about the outlook as concerns about the tax impact of the new Labour government's upcoming autumn budget and conflict in the Middle East

Tinder-parent Match names insider Steven Bailey as new CFO

Match Group said on Monday Steven Bailey will take over as its new finance chief early next year, adding that the move underscores the company's focus on driving long-term strategic growth

US rules on conflict minerals have not reduced violence in Congo, GAO says

A U.S. congressional watchdog has found no evidence that a 2012 Securities and Exchange Commission (SEC) conflict minerals disclosure rule has

Cboe to list hedged ADRs developed by Precidian

Precidian Investments launched hedged ADRs on Monday that U.S. investors can use to buy foreign-listed stocks while limiting the impact of fluctuating currencies

FTX cleared to repay billions to customers after bankruptcy plan approval

FTX received court approval of its bankruptcy plan on Monday, which will allow it to fully repay customers using up to $16.5 billion in assets recovered since

ECB's Holzmann: inflation not yet defeated

The European Central Bank should proceed with caution on further interest rate cuts given inflation had not yet been overcome, Austrian central bank Governor Robert Holzmann told

Mega Millions tickets will climb to $5, but officials promise bigger prizes and better odds

The cost of a Mega Millions lottery ticket will soon more than double, but officials said they’re confident players won’t mind paying more after changes that will lead to larger prizes and more frequent winners

Euro zone ministers to detail joint plan on capital markets, productivity

Euro zone finance ministers will announce next month what they want to do to boost the EU's competitive position against China and the United States,

Making customers pay for Fisker vehicles recall repairs is illegal, DOJ says

The U.S. Department of Justice said in a court filing on Monday that bankrupt electric vehicle maker Fisker's plan to pass on the costs of vehicle recalls to customers is illegal.

Why a key borrowing rate is above 4% again

Why a key borrowing rate is above 4% again

Trump's tax, spending plans would add twice as much debt as Harris', budget group says

Republican presidential candidate Donald Trump's tax and spending plans would produce more than twice as much new debt as the plans from Vice President Kamala

Goldman Sachs has derivatives positions worth 6.7% stake in UniCredit, filing shows

Goldman Sachs has derivative positions in UniCredit equivalent to a 6.7% stake in the Italian bank as of Sept. 30, mostly swap and future contracts as well as call options, a

Mexico inflation rate seen slowing again in September: Reuters poll

Mexico's annual inflation rate likely fell again in September, a Reuters poll of analysts showed on Monday, raising expectations that the central bank will continue cutting its

Will global soccer be reshaped after EU's top court issued a major ruling in Lassana Diarra case?

The global soccer transfer market is worth more than $10 billion each season but is facing a revolutionary overhaul or a nuanced evolution following last week’s ruling by the European Court of Justice in the Lassana Diarra case

Reporter says Musk is drawn to Trump’s ‘authoritarian’ leanings

 CNN’s Anderson Cooper talks to Washington Post reporter Philip Bump and New York Times reporter Ryan Mac about the evolution of former President Donald Trump and Elon Musk’s relationship and what each has to gain from their recent alliance.

Bank of Israel to hold rates even as inflation rises: Reuters poll

The Bank of Israel (BoI) will keep short-term interest unchanged for a sixth straight policy meeting on Wednesday, as markets maintain their view rising

Mexico anti-trust watchdog flags tortilla-maker Gruma on corn-flour market concentration

Tortilla-maker Gruma holds the power to fix higher prices in the corn flour market, Mexico's antitrust watchdog said in a preliminary decision on Monday,

Japan's Nissan to invest in auto tech firm ChargeScape

Japan's Nissan Motor said on Monday it would invest an undisclosed amount in ChargeScape and roll out the battery charging technology company's services to its electric-vehicle drivers

US money market funds draw sharp inflows in the week to Oct. 2

U.S. money market funds saw massive inflows in the week to Oct. 2 as investors sought safer assets on caution ahead of a key payrolls report amid heightened geopolitical concerns in the

Global money market funds draw large inflows in the week to Oct. 2

Global money market funds attracted large inflows in the week to Oct. 2 as investor caution ahead of a key U.S. payrolls report and heightened geopolitical tensions in the Middle East

Lucid beats quarterly deliveries estimate as price discounts boost demand

Lucid Group beat market expectations for third-quarter deliveries on Monday, as discounts and cheaper financing options for its luxury electric vehicles boosted demand in

Wine maker Duckhorn to be acquired by Butterfly Equity in $1.95 billion deal

Premier luxury wine maker Duckhorn Portfolio said on Monday it would be taken private by Butterfly Equity in an all-cash deal worth $1.95 billion.

Copper demand for electric vehicles is intact, trader IXM says

The uptrend in demand for metals such as copper used in electric vehicles is intact despite doubts raised by the slowdown in EV sales, but estimating numbers is

Three startups aim to raise $400 million as US biotech IPOs gain traction

Three healthcare startups are looking to raise up to $400 million in their U.S. initial public offerings, underscoring the sector's strong rebound in 2024 after a two-year

Monster payrolls see 10-year Treasury yields top 4%

A look at the day ahead in U.S. and global markets from Mike Dolan With any thought of U.S. recession off the agenda after a monster September jobs report, doubts about the extent of further Federal

Wall Street indexes slip with interest rates, Middle East in focus

Wall Street's three major indexes closed down around 1% on Monday while Treasury yields rose, as traders tamped down bets for Federal Reserve

Equinor buys 9.8% stake in offshore wind developer Orsted

Norway's Equinor has bought a 9.8% stake valued at around $2.5 billion in Danish offshore wind farm developer Orsted, it said on

Samsung Electronics says it is not interested in spinning off foundry business

Samsung Electronics is not interested in spinning off its contract chip manufacturing business as well as its logic chip designing

Goldman Sachs lifts S&P 500 index target for year-end, next 12 months

Goldman Sachs has raised its target for the benchmark S&P 500 index for the year-end and the next 12 months on expectations of higher margin growth for corporate companies and a steady

Chevron to sell assets for $6.5 billion to Canadian Natural Resources

Chevron is selling its assets in Athabasca Oil Sands and Duvernay Shale to Canadian Natural Resources for $6.5 billion, the oil giant said on Monday as it puts in motion

Euro zone investor morale rises in October on brighter expectations

Investor morale in the euro zone unexpectedly rose in October after three consecutive months of decline, boosted by rising expectations even as dissatisfaction with the current

India asks banks to stop making large bets against rupee, sources say

India's central bank has asked state-run and private lenders to refrain from betting heavily against the rupee in an effort to support the currency

Japan PM Ishiba rules out hike in capital gains tax

Japanese Prime Minister Shigeru Ishiba said on Monday he had no plan for now to consider raising the country's tax on income from investments.

European stocks eke out small gains, Orsted shines

European stocks eked out marginal gains on Monday, with Orsted topping the STOXX index as Norway's Equinor bought a stake in the

Britain's FTSE 100 rises as oil price jump boosts energy shares

Britain's benchmark FTSE 100 index rose on Monday, boosted by gains in energy shares and a softer labour market report, though losses in precious metal

Many firms see excessive yen falls as undesirable, says BOJ official

Many companies in western Japan saw excessive yen declines as undesirable, Kazushige Kamiyama, the Bank of Japan's Osaka branch manager, said on Monday.

Goldman Sachs lowers odds of US recession to 15% after better-than-expected jobs report

Goldman Sachs has lowered the odds of the United States slipping into a recession in the next 12 months by five percentage points to 15%, following the latest employment report that showed

Shell's third-quarter refining margins drop sharply

Shell's refining profit margins dropped by nearly 30% in the third quarter from the previous three months as global demand sagged, while oil product trading earnings

Tokyo Metro looks to raise up to $2.4 billion in largest Japan IPO since 2018

Tokyo Metro has set a price range for an initial public offering at 1,100 to 1,200 yen per share, against an initial estimate of 1,100 yen, a regulatory filing showed on Monday.

BP drops oil output reduction target in strategy reset, sources say

BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence,

BOJ highlights broadening wage, price gains but warns of risks

The Bank of Japan said broadening wage hikes were underpinning consumption and prodding more firms in regional areas to pass on rising labour costs, signalling the

How a rates rethink after strong US jobs data could shake up markets

The reverberations from a blowout U.S. employment number could threaten an assortment of trades predicated on falling interest rates, if

Stock market today: Wall Street slides after Treasury yields climb back above 4% and oil rises

U.S. stocks slid after Treasury yields hit their highest levels since the summer and oil prices continued to climb

US 'no landing' scenario lifts markets

A look at the day ahead in European and global markets from Kevin Buckland What a difference a payrolls report makes.

New analysis suggests national debt could increase under Harris, but it would surge under Trump

No one is likely to be happy with the projected higher deficits laid out in a new analysis of Kamala Harris’ and Donald Trump’s economic plans

Vietnam striving for 7.6% to 8% economic expansion in Q4, govt says

Vietnam will strive for a economic expansion of 7.6% to 8% in the last quarter of 2024 and is maintaining its full year target of 7% growth following positive results in the third

China's Sept forex reserves rise more than expected to $3.316 trln

China's foreign exchange reserves rose more than expected in September, official data showed on Monday, as the dollar weakened against other major currencies.

China's gold reserves unchanged for fifth straight month in September

China's central bank held back on buying gold for its reserves for a fifth straight month in September, official data showed on Monday, mainly due to a surge in prices for the

US 10-year yield tops 4%, stocks fall, as Fed rate cut expectations ease

A gauge of global stocks declined on Monday and U.S.

Oil settles 3% higher as Middle East war risk makes investors cautious

Oil prices settled more than 3% higher on Monday, with Brent surpassing $80 per barrel for the first time since August as the increased risk of a region-wide Middle

Dollar consolidates after strongest week in two years

The U.S. dollar stalled near a seven-week high on Monday as investors reassessed their positions after last week's strong U.S. jobs data and as

Japan's top FX diplomat warns against speculative moves as yen falls

Japan's top currency diplomat on Monday issued a warning against speculative moves on the foreign exchange market as the yen fell below 149 per

Activist investor Starboard Value takes $1 billion stake in Pfizer, sources say

Activist investor Starboard Value has taken a stake of about $1 billion in Pfizer and wants the U.S. drug giant to make changes to turn its performance around, sources familiar with the

Samsung's profit recovery seen weakening in Q3

Samsung Electronics is expected to flag more than a four-fold jump in quarterly profit on Tuesday on improving demand for chips, but the pace of its recovery is

UK pay growth weakest since February 2021, REC survey shows

Britain's jobs market showed more signs of cooling in September as pay growth increased at the slowest pace in

Markets mull potential US ‘no landing'

A look at the day ahead in Asian markets.

Takeaways from AP's report on affordable housing disappearing across the U.S.

While Americans continue to struggle under high rents, as many as 223,000 affordable housing units could disappear in the next five years alone

UK investment summit to feature Google, Wayve and Brookfield

The new British government's first international investment summit will feature senior executives from companies including Google, Wayve and Brookfield Asset Management, the

The jobs number surpassed everyone’s expectations. Cue the complaints about the Fed

The jobs number surpassed everyone’s expectations. Cue the complaints about the Fed

Venture capitalist Ben Horowitz to make 'significant donation' for Harris

Venture capitalist Ben Horowitz said on Friday he will make a "significant donation" to entities supporting the Democratic presidential campaign of Vice

UK's Reeves promises 'guardrails' around extra borrowing in budget

British finance minister Rachel Reeves said she will introduce "guardrails" to ensure that extra borrowing for investment in her first budget is not excessive

Wynn Resorts says it gets UAE's first gambling license

Hotel and casino operator Wynn Resorts said on Friday it had been awarded the first commercial gaming operator's license in the United Arab Emirates by the country's General Commercial

Vista Outdoor strikes deal to sell itself in two parts for $3.4 billion

Vista Outdoor on Friday agreed to sell itself in parts to two separate buyers for a total of $3.35 billion, including debt, after fending

Citron's Andrew Left asks judge to dismiss SEC's fraud case

Citron Capital founder and short seller Andrew Left has asked a judge to dismiss the lawsuit by the U.S.

US dividend ETFs bask in investor attention after jumbo Fed rate cut

U.S. exchange-traded funds (ETFs) that invest in dividend-paying stocks have enjoyed a rush of inflows since the Federal Reserve kicked off its rate cutting cycle last

EV startup Fisker faces probe by US securities regulator

The U.S. Securities and Exchange Commission is investigating Fisker and has sent multiple subpoenas to the bankrupt EV maker, according to a filing by the regulator on Friday.

Rio Tinto in talks to buy lithium miner Arcadium, sources say

Rio Tinto has been holding talks to buy lithium miner Arcadium, three sources with direct knowledge of the negotiations said, a deal that would make Rio

Novo Nordisk to invest $158 million in insulin plant in Brazil

Danish drugmaker Novo Nordisk will invest 864 million reais ($158.2 million) to revamp a plant in Brazil responsible for pumping out a quarter of its insulin production globally,

BNSF Railway ratifies 5-year agreement with SMART-MD

Berkshire Hathaway-owned BNSF Railway said that the members of International Sheet Metal, Air, Rail and Transportation union's railroad, mechanical and engineering department have voted to

AI startups ride on investor frenzy to raise billions in 2024

OpenAI recently closed a $6.6 billion funding round at a $157 billion valuation that highlighted the enthusiasm around generative artificial-intelligence technology since the startup burst

Investors look to earnings to support record-high stock prices

A high-stakes corporate earnings season kicks into gear next week, with bullish investors hoping results will justify increasingly rich valuations in a U.S.

India's Jio Financial, BlackRock get in-principle approval to set up mutual fund business

Jio Financial and U.S.-based BlackRock got in-principle approval from India's markets regulator to act as co-sponsors and set up a mutual fund business in the country, the Mukesh

Tencent, Guillemot family mulling buyout of 'Assassin's Creed' maker Ubisoft, Bloomberg News reports

Tencent Holdings and Ubisoft Entertainment's founding Guillemot family are considering options including a potential buyout of the "Assassin's Creed" maker, Bloomberg News reported on

Cost cuts in any Commerzbank merger would affect headquarters not branches, Unicredit CEO tells Economist

Cost cuts at Commerzbank if UniCredit were to buy its German rival would mostly affect its head office not its branch network, UniCredit CEO Andrea Orcel was quoted as saying on

GOP's preferred bank, Chain Bridge, valued at $138 million in lukewarm NYSE debut

Republican Party's top bank, Chain Bridge Bancorp, was valued at $138 million after its shares fell 2% in their NYSE debut on Friday, marking a grim start to its stint as a

Ubisoft shares set for biggest one-day jump on record after takeover report

Shares in video game maker Ubisoft surged over 30% on Friday after Bloomberg reported that major shareholder Tencent and the Guillemot family, its founders, were considering a buyout

GE Aerospace to lay off over 70 workers at a New York site

GE Aerospace will lay off nearly half the workers at a company site in New York state, according to a filing with the state.

Canada's Ivey PMI shows activity expanding in September

Canadian economic activity rebounded in September after contracting in the prior month as the pace of price increases cooled to its slowest in six months, Ivey Purchasing Managers

Fed's Goolsbee calls jobs report 'superb,' still sees rate cuts ahead

Chicago Federal Reserve President Austan Goolsbee on Friday called the latest U.S. jobs report "superb" and said more labor market data along those lines would boost his confidence the

Coinbase to delist some stablecoins in Europe ahead of new regulations

Coinbase will delist certain stablecoins in the European Economic Area by year's end, the cryptocurrency exchange said on Friday, as the industry braces for tougher regulation in the

Fed seen slowing rate cut pace after strong US jobs data

A surge in U.S. job growth has financial markets betting the Federal Reserve will follow last month's half-point interest rate reduction with smaller moves, and ignited a

Tellurian shareholders back proposed $1.2 billion Woodside deal

Tellurian shareholders have voted in favor of the U.S. LNG developer's proposed $1.2 billion acquisition by Australian energy producer Woodside Energy Group, the company said on Friday.

US Sept payrolls jump takes Nov 50 bp cut off the table

U.S. job growth accelerated in September and the unemploymentrate slipped to 4.1% from August's 4.2%, further reducing theneed for the Federal Reserve to maintain large interest ratecuts at

IMF, bilateral creditors back Sri Lanka on $12.5 billion bondholder debt rework

Sri Lanka's $12.5 billion bondholder debt rework has received support from bilateral creditors and the International Monetary Fund, the finance ministry said on

IMF and Ghana reach staff-level deal on $3 billion loan-programme review

International Monetary Fund staff and officials in Ghana have reached an agreement on their third review of the West African country's $

Experian buys Brazilian cyber security firm ClearSale in $350 million deal

Credit data company Experian has agreed to buy Brazilian cyber security firm ClearSale, it said on Friday, in a $350 million expansion of its footprint in Latin America's largest

Brazil rolls out minimum tax on profits of multinational firms

Brazil's government late on Thursday published an executive order that effectively rolls out a minimum 15% tax on profits of multinational corporations, a publication in the

China's BingEx surges after tepid start in Nasdaq debut

Shares of China's BingEx surged 17% on Friday as the courier delivery firm shrugged off a sluggish start to its Nasdaq debut.

Spirit Airlines shares plunge on report of potential bankruptcy filing

Shares of Spirit Airlines plunged 37% to a record low on Friday after a report that the ultra low-cost carrier was discussing a potential

Dow registers record high close as US jobs data eases economic worries

The Dow posted a record closing high on Friday and the Nasdaq ended with a more than 1% gain as a stronger-than-expected jobs report reassured investors

Fitch unlikely to raise Brazil's credit rating soon, director says

Fitch is unlikely to upgrade Brazil's credit rating in the near-term, despite its better-than-expected economic growth, because of

Rivian lowers annual production forecast due to parts shortage, shares drop

Rivian slashed its full-year production forecast on Friday and missed third-quarter deliveries expectations due to a parts shortage and slowing growth in electric-vehicle

Jobs and oil dominate as ports strike ends

A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street has weathered an edgy start to the final quarter reasonably well this week, with the September employment report now an

ADM to idle Iowa soy facility during record US harvest

Archer-Daniels-Midland Co is idling its only soybean processing plant in Iowa for weeks in the thick of a record U.S. harvest, the grain merchant

Friday’s jobs report could be the last normal one for a while

Friday’s jobs report could be the last normal one for a while

Seven & i considers selling down supermarket stake ahead of IPO, sources say

Japan's Seven & i Holdings is considering selling a stake in its supermarket unit ahead of a planned listing of the business, two sources said, as the 7-Eleven owner aims to speed up

Bank of England's Pill urges rate cut caution after Bailey suggested faster pace

The Bank of England should move only gradually with cutting interest rates, Chief Economist Huw Pill said on Friday, a day after Governor

Slower Philippine inflation in September gives room for rate cuts

Philippine annual inflation accelerated at its slowest rate in more than four years in September due to a slower rise in food prices and downtrend

European shares close up as bumper US jobs data quashes growth worries

European shares closed higher on Friday as a stronger-than-anticipated U.S. jobs report allayed growth fears in the world's biggest economy, though

Rate cuts and politics, say no more

It's a packed week ahead with U.S. inflation data, the start of Q3 earnings, a French budget and possibly a big rate cut from New Zealand.

Philippine inflation to settle around 3.2% in 2024, finance minister says

The Philippines' inflation rate could settle around 3.2% this year, its finance minister said on Friday, giving room for the central bank to further cut rates.

BOJ faces fresh challenge as politics, yen complicate rate hikes

Bank of Japan Governor Kazuo Ueda's efforts to lift rock-bottom borrowing costs face fresh challenges as a yen rebound and the new political leadership's preference

Singapore tightens anti-money laundering measures

Singapore authorities on Friday announced new measures to tackle money laundering, including inter-agency data-sharing, striking off of inactive companies and

India September services growth hits 10-month low, PMI shows

Growth in India's dominant services sector remained robust but slackened to a 10-month low in September as demand slowed, a business survey showed on Friday

Inside Macron's pitch meeting with Wall Street as budget woes mount

French President Emmanuel Macron has given top U.S. financiers a candid assessment of his country's financial woes, flagging the potential for

Australian court upholds order for Musk's X to pay $418,000 fine over anti-child abuse probe

An Australian court upheld an order on Friday for Elon Musk's X to pay a fine of A$610,500 ($418,000) for failing to cooperate with a regulator's request for information about anti-

Middle East tensions drive oil prices

A look at the day ahead in European and global markets from Rae Wee Oil prices are headed for their largest weekly rise in over a year on Friday, spurred by escalating Middle East tensions that have

Seven & i considering supermarket stake sale ahead of IPO, sources say

Japan's Seven & i Holdings is considering selling a stake in its supermarket unit ahead of a planned listing of the business, two sources said, as the 7-Eleven

Blowout US employment report reinforces economy's resilience

U.S. job gains increased by the most in six months in September and the unemployment rate fell to 4.1%, pointing to a resilient economy that likely does not

Shipping stocks battered after US port strike ends

Shares in shipping companies fell heavily in Europe and Asia on Friday after workers and U.S. port operators agreed a deal to end a strike on the East and Gulf coast docks far

Equities rise with dollar, bond yields as investors cheer strong US payrolls

MSCI's global equities index rose on Friday while the dollar climbed to its highest level since mid-August as investors heaved a sigh of

Timing of BOJ's policy change must align with Japan's broader goal, economy minister says

Japan's new economy minister, Ryosei Akazawa, said on Friday that the timing of changes in the Bank of Japan's monetary policy should be aligned with the government's broader goal of

JPMorgan acquires stake in Australia's cash-strapped Star Entertainment

U.S. bank JPMorgan Chase & Co has become a substantial shareholder in Star Entertainment, an exchange filing showed, as shares of the embattled Australian casino operator have fallen

Strong jobs report propels dollar to best week since 2022

The dollar jumped to a seven-week high on Friday and was on track to post its best week since September 2022 after a surprisingly strong jobs report for September

Oil settles up, biggest weekly gains in over a year on Middle East war risk

Oil prices rose on Friday and settled with their biggest weekly gains in over a year on the mounting threat of a region-wide war in the Middle East, although gains

Elis is said to make rebuffed bid for UniFirst amid Vestis talks, Bloomberg reports

French workplace supplies provider Elis SA made an informal takeover proposal to U.S. peer UniFirst Corp, Bloomberg News reported on Thursday, citing people familiar with the matter.

Republican Party's top bank Chain Bridge raises $41 million in US IPO

Chain Bridge Bancorp, a lender popular among Republicans since its inception, priced its U.S. initial public offering at $22 per share on Thursday to raise $40.7 million.

Private equity firm MBK, Young Poong raise Korea Zinc tender offer to $1.88 billion

Private equity firm MBK Partners and Young Poong on Friday raised their tender offer price for shares in Korea Zinc to match a counteroffer, as a

ANZ to pay $68 million to settle two class actions

Australian lender ANZ said on Friday it will pay a combined sum of A$99 million ($67.76 million) for the settlement of two class actions brought against it in 2020.

China stimulus draws investors back to offshore bonds of troubled property sector

Some Chinese and global institutional investors are revisiting Chinese property bonds, betting on an improvement in outlook as the government

US awards up to $510 million to boost domestic production of protective gear

The Biden administration has granted up to $510 million to boost the domestic production of personal protective equipment (PPE) such as isolation gowns to restock the Strategic National

Cisco set to invest in CoreWeave at $23 billion valuation, Bloomberg News reports (Oct. 3)

Cisco Systems is set to invest in CoreWeave, valuing the cloud services provider at $23

Oil's shadow over world markets darkens

A look at the day ahead in Asian markets. What comes down must go up.

Spirit Airlines shares slide after report of possible bankruptcy filing

Spirit Airlines is in talks with bondholders over the terms of a potential bankruptcy filing in the wake of its failed merger with JetBlue Airways, the Wall Street Journal reported on

Exxon Mobil expects 3rd-quarter earnings were hit by lower oil prices

A slump in oil prices probably reduced Exxon Mobil's third-quarter upstream earnings by $600 million to $1 billion, the oil major signaled in a regulatory filing published on Thursday.

Fed's paper losses top the $200 billion mark

U.S. Federal Reserve losses crossed the $200 billion point this week, according to data released on Thursday by the central bank.

Remember the shortage of medical gowns during COVID? Feds spending $350 million for stockpile

Six U.S. companies will spend at least $350 million to manufacture medical gowns to store in the Strategic National Stockpile

AbbVie cuts 2024 profit forecast citing R&D expenses

AbbVie on Thursday lowered its forecast for 2024 adjusted profit, citing the impact of $82 million in milestones, and research and development expenses related to acquisitions.

French PM Barnier confirms he will raise taxes for bigger companies

France's new prime minister, Michel Barnier, will increase corporate tax on the biggest companies in the country and on wealthiest individuals, he said on France 2 television on

Taxpayers in 24 states will be able to file their returns directly with the IRS in 2025

The IRS is expanding its program that allows people to file their taxes directly with the agency for free

Costco is now selling platinum bars for $1,089

Costco is now selling platinum bars for $1,089

Trump's campaign says he raised $160 million in September, ended month with $283 million banked

Former President Donald Trump has raised $160 million for his campaign in September and entered October with $283 million in the bank for the campaign’s final sprint

Tesla plans $800 million debt sale backed by prime leases, Bloomberg News reports

Tesla is preparing to sell $783 million in debt, backed by automotive leases from its prime borrowers amid a surge in similar asset-backed securities within the industry, Bloomberg News

Fed's Goolsbee says dockworkers' strike could lead to higher prices

Chicago Federal Reserve President Austan Goolsbee on Thursday said retailers and manufacturers had stockpiled about two weeks worth of items in anticipation of the U.S. dockworkers' strike

Germany to vote against EU tariffs on Chinese electric vehicles, sources say

Germany on Friday will vote against the introduction of European Union tariffs on Chinese electric vehicles, people with knowledge of the matter told Reuters on

Sabadell CEO says 2024 full-year profit could top 1.6 billion euros

The CEO of Spain's Sabadell, Cesar Gonzalez-Bueno, on Thursday said the bank could earn more than 1.6 billion euros ($1.76 billion) in net profit in 2024 if it manages to perform as

IMF says Japan should keep raising rates if warranted by inflation data

The International Monetary Fund said on Thursday that the Bank of Japan should stay data-dependent and continue to gradually raise policy rates in line with

Average rate on a 30-year mortgage in the U.S. ticks up to 6.12%, first increase in 7 weeks

The average rate on a 30-year mortgage in the U.S. rose to 6.12% this week, the first increase in seven weeks

Sri Lanka to move forward with third review of near $3 billion IMF bailout

Sri Lanka plans to move ahead with the third review of its nearly $3 billion programme of support from the International Monetary Fund, the new government said on Thursday, as the

US retailers scramble ahead of holidays amid port strike

Major U.S. retailers from Levi Strauss to Costco are preparing alternative shipping plans to ensure goods arrive in time for the peak holiday season

Online retailer Shein to hold roadshows soon ahead of London IPO, sources say

Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering (IPO),

Tesla plans four new batteries in 2026, including for robotaxi, The Information reports

Tesla plans to design four new versions of its in-house battery to power the Cybertruck, its forthcoming robotaxi and other electric vehicles, the Information reported on Thursday, citing

2024 holiday shopping sales predictions

U.S. retailers are gearing up for a shorter-than-usual holiday shopping window this year, with price-conscious shoppers focused on deals and promotions around key events such as Black

US factory orders unexpectedly fall in August

New orders for U.S.-manufactured goods unexpectedly fell in August, while business spending on equipment appears to have pulled back in the third quarter.

OpenAI secures $4 billion credit line after big funding round

OpenAI has secured a new $4 billion revolving credit line, the ChatGPT maker said on Thursday, a day after it closed a $6.6 billion funding round that cemented its position as one of the

Blackstone seeks to raise at least $10 billion in new Asia PE fund, sources say

Blackstone Inc, the world's largest alternative asset manager, has started raising its third Asia-focused private equity (PE) fund,

Canada's services PMI hits six-month low in September

The downturn in Canada's services economy deepened in September as firms shed jobs and new business dropped to a near four-year low, S&P Global Canada services PMI

Anglo American not a sitting duck after breakup, CEO says

Anglo American Plc will not be an "inevitable" takeover target after its unbundles its diamond, platinum, nickel and coal assets, CEO Duncan Wanblad said on Thursday.

The 2024 disinflation lesson: ignore oil at your peril: McGeever

In today's digital and services-dominated economy, one might be forgiven for buying into the narrative that oil no longer has any real bearing on

Berkshire unloads more Bank of America shares

Berkshire Hathaway unloaded more Bank of America stock this week, boosting sales since mid-July to nearly $10 billion as Warren Buffett simplifies part of his conglomerate's vast portfolio

Constellation Brands beats quarterly results estimates on strong beer demand

Corona beer maker Constellation Brands beat second-quarter results estimates on Thursday, as robust demand for its popular beer brands helped soften the hit from a slump in its wines and

Ghana closes in on long-running debt restructuring finishing line

Ghana received the approval for more than 90% of bondholders to restructure and exchange $13 billion of international debt, it said on Thursday, clearing the last hurdle in its protracted

Levi Strauss shares fall on weak holiday-quarter forecast

Levi Strauss' shares fell about 7% on Thursday after a tepid forecast for holiday-quarter revenue underscored the denim maker's struggles with sluggish demand from retailers navigating

Exxon's deal with unions at Port Jerome refinery to allow job-cutting plan to move ahead

Energy major Exxon Mobil can move ahead with a plan to cut jobs at its Port Jerome refinery in northern France after obtaining a majority agreement this

US Senator Warren asks regulator to impose growth curbs on Citi

A prominent Democratic U.S. senator called on a top regulator on Wednesday to impose growth restrictions on Citigroup as the Wall Street bank struggles to fix

US offers EVgo conditional $1.05 billion loan for EV chargers

The United States on Thursday offered EVgo a conditional loan guarantee of up to $1.05 billion to expand public electric vehicle-charging infrastructure

Markets and the Middle East: How investors are weathering geopolitics

Conflict in the Middle East is escalating once more, but the mood music across financial markets remains upbeat for now due to shifts in oil

Thai finance minister talks liquidity, debt woes with central bank chief

Thailand's finance minister said he had met the central bank governor on Thursday and discussed the issue of high household debt

Amazon, Target and other retailers are ramping up hiring for the holiday shopping season

U.S. retailers are ramping up hiring for the holiday season but expect to take on fewer seasonal employees to help customers in stores and assemble online orders in warehouses

Canadian dollar expected to strengthen in 2025 as rate cuts boost economy: Reuters poll

The Canadian dollar is forecast to extend its recovery against its U.S. counterpart in the coming year as lower borrowing costs bolster economic growth in Canada

Amazon plans to hire 250,000 workers for the holidays, same as last year

Amazon plans to hire 250,000 transportation and warehouse workers this holiday shopping season, the same number as last year as e-commerce spending is expected

EU sues Spain, Cyprus, Poland, Portugal for failing to implement corporate tax

The European Commission is suing EU member states Spain, Cyprus, Poland and Portugal for failing to implement rules aimed at ensuring a global minimum level of taxation for

Stellantis CEO says too soon to confirm 2025 dividend as shares slide

Stellantis CEO Carlos Tavares on Thursday left the door open for possible cuts to its dividend and share buybacks next year

Indexes end lower ahead of US jobs data, Middle East still in focus

U.S. stocks finished lower on Thursday ahead of Friday's monthly U.S. payrolls report and as investors kept a watchful eye on the growing conflict in the

US office real estate market shows signs of bottoming after big discount sales

The beleaguered U.S. office property market may be bottoming out, analysts told Reuters, pointing to a string of sales of stressed properties at big

US funds four power grid projects with $1.5 billion

Four electricity transmission projects serving the U.S. southwest, southeast and New England will get $1.5 billion in public funding to improve the grid's

Dollar surges as European, Japan hawks coo

A look at the day ahead in U.S. and global markets from Mike Dolan The U.S. dollar is on course for its best week in six months, surging anew on Thursday against the yen, sterling, euro and Swiss

China's WuXi explores sale of pharma operations as US restrictions loom, FT reports

WuXi AppTec and WuXi Biologics are planning to sell some of their operations after the Chinese biotech companies were targeted by the U.S. on national security grounds, the Financial Times

Long positions pile on Chinese yuan, Asian FX bulls maintain momentum: Reuters poll

Bullish bets on the Chinese yuan strengthened after a bazooka of stimulus measures led to global investors reallocating funds to Asia's largest economy, while long

Swiss inflation falls to three-year low, paving way for more rate cuts

Swiss inflation has fallen to its lowest level in more than three years, government data showed on Thursday, prompting analysts to say more interest rate cuts by the Swiss National

UK services firms slow their price increases, PMI shows

British services firms lost some momentum but continued to grow in September and the prices they charged rose at the slowest pace in almost four years, according to a survey likely

European shares fall as Middle East jitters curb risk-taking

European shares declined on Thursday, as investors remained wary of risk-taking amid elevated geopolitical tensions in the Middle East, with most sectors

South Africa business activity accelerates in Sept as inflation eases, PMI shows

South Africa's private sector saw an uptick in growth in September, driven by a rise in business activity and a significant cooling of inflationary pressures, a survey by S&P

EM currencies set to hold steady or pare gains for the rest of 2024 - Reuters poll

Most emerging market currencies are set to trade in tight ranges or pare some of the year-to-date gains in the next three months

China firms plan up to $15 billion in overseas bond issues in Q4 on stimulus boost, say bankers

Chinese investment-grade companies are lining up $10 billion to $15 billion in offshore bond offerings this quarter, as Beijing's economic stimulus measures cut

ANZ, Gunawan family consider selling control of Indonesia's Panin Bank, sources say

Australian lender ANZ and Indonesia's Gunawan family are considering selling a combined controlling interest in Jakarta-listed Bank Pan

French wealth tax would affect less than 1% of households, minister says

France's plans for a new wealth tax to help to cut the country's spiralling deficit will affect less than 1% of households, Budget Minister Laurent Saint-Martin said on Thursday.

Bank of England could become 'more aggressive' on rate cuts, Bailey says

The Bank of England could move more aggressively to cut interest rates if inflation pressures continue to weaken but conflict in the Middle

Dollar bears eye shifts in global yields, growth to play further weakness

Traders gauging how to play further downside in the U.S. dollar are looking to the relative strength of economies around the world, as interest rate shifts

PMIs to pave the way for rate cuts

A look at the day ahead in European and global markets from Stella Qiu Services PMIs due across Europe on Thursday are likely to show further moderation in activity and cement expectations for rate

Stock market today: Oil prices jump again on worries about the Middle East as Wall Street fades

Crude prices jumped on worries about worsening tensions in the Middle East, while U.S. stocks pulled back further from their records

Philippines levies 12% VAT tax on digital services by tech giants

The Philippines will impose a 12% value-added tax (VAT) on digital services offered by tech giants such as Amazon, Netflix, Disney, and Alphabet, in a move that will level the

Stocks edge lower as Middle East conflict pushes oil higher

Global stocks fell on Thursday, weighed by tepid trading in equity markets across the U.S. and other major regions, while oil prices jumped

In Bank of Japan chief's birthplace, Ueda's policy puzzle is laid bare

For a sense of the challenges Bank of Japan Governor Kazuo Ueda faces in weaning the world's fourth-largest economy off monetary stimulus, look no

BOJ policymaker calls for slow, cautious movement on rate hikes

Japan's central bank has scope to raise interest rates further but must move cautiously and slowly to avoid hurting the economy, a dovish policymaker said on

Dollar hits six-week high before payrolls report

The dollar rose to a six-week high on Thursday as data showed a still-solid U.S. economy before Friday's closely watched jobs report, while safe haven demand on

Southwest director buys 3.6 million shares, opposes more leadership changes

Southwest Airlines Director Rakesh Gangwal, who was picked by the company to join its board amid growing pressure from an activist investor, bought more than $100 million in stock

Australia's Westpac to sell auto finance loan book to Resimac Group

Westpac Banking Corp said on Thursday it would sell its auto finance loans book to non-bank lender Resimac Group for an expected value of A$1.4 billion ($963.62 million) to A$1.6 billion

Tesla discontinues most affordable Model 3 variant in US, website shows

Tesla's most affordable Model 3 compact sedan was no longer available for order in the U.S., according to the EV maker's website on Wednesday.

SEC appeals decision that restricted its crypto oversight

The U.S. Securities and Exchange Commission said on Wednesday it is appealing a court ruling that restricted its ability to regulate cryptocurrency markets.

Yen rattled by Japan PM's 'unseemly' rate comments

A look at the day ahead in Asian markets.

Trump campaign says it raised over $160 million in September

Republican presidential candidate Donald Trump's campaign raised over $160 million in September and closed the month with $283 million of cash on hand, the former president's

OpenAI asks investors to avoid five AI startups including Sutskever's SSI, sources say

As global investors such as Thrive Capital and Tiger Global invest $6.6 billion in OpenAI, the ChatGPT-maker sought a commitment beyond just capital —

Levi Strauss considers possible sale of Dockers brand, shares tank 10%

Levi Strauss said on Wednesday it was considering a sale of its underperforming Dockers brand and forecast fourth-quarter revenue below expectations, sending its

ChatGPT maker OpenAI raises $6.6 billion in fresh funding as it moves away from its nonprofit roots

OpenAI says it has raised $6.6 billion in venture capital investments as part of a broader shift by the ChatGPT maker away from its nonprofit roots

Bank of America says widespread outage is nearly fixed

Bank of America says widespread outage is nearly fixed

Fed's Barkin says price pressures may not fade as fast as expected

The U.S. central bank's fight to return inflation to its 2% target may take longer than expected to complete and limit how far interest rates

US port strike disrupts hamburger supplies, frozen seafood

Dockworkers striking at U.S.

Elections have less impact on your 401(k) than you might think

Much like annoying political TV ads, warnings that the U.S. presidential election could have big consequences for your 401(k) come back every four years

Plentiful oil supply dampens industry reaction to growing Middle East conflict

The oil industry and markets have had a muted reaction to growing conflict in the Middle East, a sign of just how well stocked oil

Colombia 12-month inflation seen slowing in September despite truckers' strike: Reuters poll

Colombia's 12-month inflation is forecast to continue decelerating in September, despite the impact of a truckers' strike, according to a Reuters poll on

ECB's top hawk shifts tone with sanguine inflation message

Euro zone inflation is increasingly likely to ease back to the European Central Bank's 2% target, ECB board member Isabel Schnabel said, dropping her long-standing warning about

OpenAI closes $6.6 billion funding haul with investment from Microsoft and Nvidia

OpenAI, the company behind ChatGPT, has raised $6.6 billion from investors, which could value the company at $157 billion and cement its position as one of the most valuable

StandardAero valued at $10.4 billion as shares jump in NYSE debut

Carlyle-backed StandardAero racked up a $10.38 billion valuation after its shares opened 29% above the offer price in their NYSE debut on Wednesday, as

Fed's Barkin says rates were 'out of sync' before September cut, inflation fight not done

The U.S. central bank's half-percentage-point interest rate cut last month was an acknowledgement that its policy rate was "out of sync" with

US appeals court clears Kalshi to restart elections betting

A U.S. federal appeals court on Wednesday upheld a lower court's order that permitted New York derivatives trading platform KalshiEX LLC to list contracts that

Crypto asset manager Bitwise files for XRP ETP with securities regulator

Crypto asset manager Bitwise has filed an initial registration statement with the U.S.

US NYMEX natgas average daily futures, options volumes rise in September

Average daily volume (ADV) in U.S. natural gas futures and options on the New York Mercantile Exchange rose in September from a year earlier, data from its owner CME Group showed.

Wall Street star Josh Brown shares investing secrets in new book

By Chris Taylor NEW YORK - If you followed the financial markets at all in the last 15 years, you likely know "Downtown" Josh Brown.

Microsoft to make $4.8 billion AI, cloud investment in Italy

Microsoft plans to invest 4.3 billion euros ($4.8 billion) over the next two years to strengthen its artificial intelligence (AI) and cloud infrastructure in northern Italy, it said

Sainsbury's boss looks to UK budget to lift spending gloom

Britons bruised by a cost of living crisis will not start spending strongly again until the new Labour government sets out its tax and spending plans, and

Tesla posts first sales gain of the year but shares fall as competition heats up

Tesla posts first sales gain of the year but shares fall as competition heats up

Brazil credit rating upgrade paves the way for reduced risk premium, officials say

The upgrade of Brazil's credit rating by Moody's highlights a risk premium in the local yield curve that does not reflect the fundamentals of Latin America's

EQT-backed Zayo, TPG vie for Crown Castle assets worth nearly $10 billion, sources say

Fiber network owner Zayo Group and buyout firm TPG are competing to acquire the fiber and wireless assets of Crown Castle, in a deal that could be valued at nearly

Mexico cenbanker Heath argues for holding benchmark rate longer

Mexican central bank deputy governor Jonathan Heath, in an interview published on Wednesday, said that the nation's benchmark interest rate should stay at its current level for

Ford reports weak US sales for third quarter

Ford on Wednesday became the latest U.S. automaker to report weaker growth in domestic new vehicle sales in the third quarter, as buyers continued to shy away from purchases on

Tesla posts first quarterly increase in deliveries, but shares slump with investors hoping for more

Low interest financing, sweet lease deals and free charging boosted Tesla’s global deliveries in the third quarter, the first increase this year for the electric vehicle maker

DAE, AXA clinch deal as UK battle over jets 'lost' in Russia kicks off

Aircraft lessor Dubai Aerospace Enterprise (DAE) has secured a settlement with insurer AXA over jets retained in Russia since the 2022 invasion of

GM seeks to ease shareholders' nerves at investor day

General Motors will assure investors next Tuesday that there is no need to panic about decelerating demand for electric vehicles and the U.S.

Dollar to stay unfazed despite growing uncertainties: Reuters poll

The U.S. dollar will hold steady in coming months despite an expected series of Federal Reserve interest rate cuts, according to median forecasts from FX

Quality ratings hit to key Medicare plan shakes Humana stock

Shares of Humana have tumbled after the health insurer said a Medicare Advantage quality rating drop will hurt future bonus payments the company receives

SoFi debuts platform for companies to offer expanded access to IPOs

California fintech giant SoFi is teaming up with British capital markets platform PrimaryBid Technologies to expand its initial public offering share placement business, the

Finance firms more worried about global economy, BoE survey finds

Worries about risks to the UK financial system posed by a global economic downturn have risen sharply to their highest level since the second half of 2019, a Bank of England (BOE)

Conagra sales squeezed by private-label shift; sees little impact from ports strike

Conagra Brands fell short of Wall Street estimates for first-quarter results as budget-conscious consumers switched to lower-priced alternatives

Humana shares tumble as 2025 membership for its top-rated Medicare plans slump

Humana's shares fell as much as 22.4% on Wednesday, as the health insurer said enrollments in its top-rated Medicare insurance plans dropped sharply,

US fund association picks new board as risks loom of higher tax, new regulations

The Managed Funds Association, an alternative asset management trade group, announced on Wednesday its new board of directors, as well as its chair Jody

Nike shares drop as investors fret over murky turnaround timeline

Nike shares closed nearly 7% lower on Wednesday after the sportswear giant withdrew its annual revenue target, leaving investors guessing on the timeline for a

Tech market values jump in September on Fed rate cuts, AI optimism

The market capitalization of many tech firms surged in September, buoyed by a Federal Reserve rate cut that typically enhances future profits and cash flows for high-growth companies, and

S&P 500 ends near flat as more jobs data awaited; eyes on Middle East

The S&P 500 ended little changed on Wednesday, with technology shares gaining but investors nervous about Middle East tensions and more U.S. labor data

Ghana inflation rises in September as food prices surge

Ghana's consumer inflation rose in September after slowing for five consecutive months, driven by an increase in food prices, the statistics service said on Wednesday.

Euro area long-dated yields rise after sharp drop, geopolitics in focus

Euro area government bond yields rose on Wednesday, a day after long-dated yields posted their biggest daily fall since mid-June on concerns about economic growth.

Brazilian digital bank PicPay eyes Nasdaq IPO in 2025

Brazilian digital bank PicPay will start hiring financial firms to carry out a planned initial primary offering in New York next year,

MidEast tension, port strike see edgy Q4 start

A look at the day ahead in U.S. and global markets from Mike Dolan With Middle East tensions dialing back up, U.S. port workers on strike and global industry under the cosh, the final quarter of 2024

Elon Musk’s X is worth nearly 80% less than when he bought it, Fidelity estimates

Elon Musk’s X is worth nearly 80% less than when he bought it, Fidelity estimates

Kenya's central bank should start cutting lending rate, finance minister says

Kenya's central bank rate should start lowering its lending rate due to falling inflation in recent months, Finance Minister John Mbadi said on Wednesday.

Bank of England says global asset prices remain 'stretched'

Global asset prices remain stretched and are vulnerable to a big fall as investors grow more concerned about geopolitical risks, the Bank

Meta, Australian banks tout progress on taking down 'celeb bait' scam ads

Meta said it has taken down some 8,000 so-called "celeb bait" scam ads from Facebook and Instagram as part of a new effort with Australian banks to curb the practice.

Commerzbank deal could lift UniCredit's junior debt ratings, Moody's says

UniCredit's acquisition of Commerzbank could prompt Moody's to consider raising its rating on the Italian bank's riskier debt, the credit rating agency said on Wednesday.

European shares end flat as rising energy shares offset concern over Middle East

Europe's STOXX 600 ended flat on Wednesday as investors shied away from risk-taking amid more warfare in the Middle East, although advancing energy

ECB's de Guindos sticks with hope for growth rebound

Euro zone growth could be weaker in the near term than the European Central Bank now expects but the recovery should still pick up pace later on, ECB Vice President Luis de

Volvo Cars reports slight sales increase amid market uncertainty

Volvo Cars' sales rose by 1% year-on-year in September to 62,458 cars, the Sweden-based automaker said on Wednesday amid a volatile and uncertain market.

Futures in Japan face hangover from BOJ's bond-buying binge

Japan's $9 trillion bond market is bracing for disruption as a shortage of paper caused by the central bank's massive buying is expected

Projected Fed rate cuts could see 'income drag' akin to 2020 :Mike Dolan

If you think Federal Reserve interest rate cuts could overly spur an already briskly growing U.S. economy, consider the other side of the equation: the income drag.

Kenya's inflation falls to 3.6% in Sept

Kenya's inflation fell to 3.6% year-on-year in September from 4.4% a month earlier, the statistics office said on Wednesday.

Worries over Middle East escalation weigh

A look at the day ahead in European and global markets from Kevin Buckland Escalating hostilities in the Middle East gripped the attention of traders and investors in Asia on Wednesday as worries

Hedge funds fuel record weekly buying in Chinese stocks on stimulus cheer

Global hedge funds flocked to Chinese equities on the back of Beijing's much bigger than expected stimulus measures, leading to the strongest weekly buying on

Australian court upholds ruling against ANZ in $2.5 billion share issue case

An Australian court on Wednesday upheld a ruling that found ANZ violated disclosure rules in a A$2.5 billion ($1.7 billion) share placement nearly a decade earlier, dismissing

Stock indexes steady, oil rises as wary investors eye Middle East hostilities

MSCI's global equities index was down slightly on Wednesday while the dollar rose and oil prices pared earlier gains, as investors

S.Korea factory activity shrinks sharply as overseas demand weakens, PMI shows

South Korea's factory activity contracted at the sharpest pace in 15 months in September as overseas demand slowed for the first time in the year, a private survey

Dollar gains as ADP shows better-than-expected jobs gains

The dollar hit a three-week high against the euro on Wednesday after the ADP national employment report showed U.S. private payrolls increased more than expected

UK pay awards hold at 2-year low, IDR survey shows

Pay settlements awarded by British employers held at their lowest in two years in the three months to August, according to a survey that could reassure the Bank of England as it

South Korea inflation cools more than expected as rate cut talk grows

South Korea's consumer inflation cooled more than forecast in September and below the central bank's target for the first time since early 2021, amid growing

Middle East conflict lifts oil prices despite large US crude build

Oil prices edged up on Wednesday on worries that the escalating conflict in the Middle East could threaten oil supplies from the world's top producing region, but a

IMF 'too polite' on China policies, financing assurances, US Treasury official says

The International Monetary Fund is "too polite" when it comes to criticizing China's economic policies and should more fully disclose financing assurances given

Markets bunker down as Iran-Israel tensions spark

A look at the day ahead in Asian markets.

Carlyle-backed StandardAero prices IPO above range to raise $1.44 billion, sources say

StandardAero, a U.S. aircraft maintenance services provider, priced its U.S. initial public offering above its indicated range to raise $1.44 billion, people familiar

Nike's quarterly sales and profits slump as it faces shoppers' sluggish demand for its products

Nike has reported a slump in sales and profits for its fiscal first quarter as the sportswear giant wrestles with shoppers’ sluggish demand for new sneaker models

Citgo share auction creditors oppose terms of Elliott-affiliate's bid

Creditors seeking proceeds from a U.S. court-ordered auction of shares in a parent of Citgo Petroleum to compensate them for Venezuela's debt

Ex-Jaguars worker who stole $22M from team sues FanDuel, saying it preyed on his gambling addiction

A former financial manager for the NFL’s Jacksonville Jaguars who stole $22 million from the team is suing FanDuel for $250 million, saying the betting company preyed on his gambling addiction

Fed terminates 2013 money-laundering enforcement action against Citigroup

The Federal Reserve announced on Tuesday that it had terminated a 2013 enforcement action it filed against Citigroup over shortcomings in its capacity to police

JPMorgan plans up to 20 new hires to expand Canadian asset management team

JPMorgan's expanding asset management business in Canada will add up to 20 jobs over the next 18 months, a senior executive said on Tuesday, as the bank launched

Key US short-term rate surges amid month-end turbulence

A key U.S. overnight funding interest rate jumped on Monday in a sign of tighter liquidity in money markets at the end of the month

US issues $2 billion electric vehicle tax rebates since Jan 1, Treasury says

The U.S. government has issued $2 billion in advance point-of-sale consumer electric vehicle (EV) tax credit payments since Jan. 1 covering more than 300,000

The stock market is off to its best start to a year since 1997 under Bill Clinton

The stock market is off to its best start to a year since 1997 under Bill Clinton

Peloton beats shareholder lawsuit over post-pandemic financial forecasts

Peloton Interactive won dismissal of a lawsuit claiming it defrauded shareholders by concealing how demand for its home exercise equipment, which surged after

French and US companies to invest $10 billion to extract oil off Suriname's coast

Officials say that France’s TotalEnergies and U.S. hydrocarbon company APA Corp. plan to invest $10 billion to extract oil off the coast of Suriname in a historic investment for the South American country

CVS Health to lay off nearly 2,900 employees in cost-cutting push

CVS Health said on Tuesday it would lay off about 2,900 employees, representing less than 1% of its workforce, as the healthcare conglomerate aims to cut costs.

US watchdog issues warning to medical debt collectors

The top U.S. consumer financial watchdog on Tuesday warned medical debt collectors they face enforcement action by federal regulators if they illegally attempt to collect on inaccurate or

Gold rally cripples physical demand in key markets

Physical demand for gold across key markets has tumbled as prices continue to rise, with some retail consumers opting to sell their

US construction spending falls in August on single-family homebuilding

U.S. construction spending unexpectedly fell in August amid a sharp drop in outlays on single-family housing projects, but declining borrowing costs could stimulate activity in

Carlyle-backed StandardAero prices IPO above range to raise $1.44 billion

StandardAero, a U.S. aircraft maintenance services provider, priced its U.S. initial public offering above its indicated range to raise $1.44 billion, the company said

Wall St eyes 'slower for longer' equity rise as rally broadens: McGeever

A handful of mega-cap technology stocks has fueled Wall

Russia's military-focused 2025 budget shrouded in secrecy

Russia's state budget for next year, which includes a 25% hike in military spending, will also be the most secretive in post-Soviet history,

Big oil's big payouts under strain as energy prices fall

Major energy companies are set to borrow billions to maintain shareholder payouts or cut the rate of share repurchases in the face of a drop in oil prices after more

CNN launches a digital paywall, charging some users to read articles for the first time

CNN launches a digital paywall, charging some users to read articles for the first time

US manufacturing steady in September; prices paid measure lowest in nine months

U.S. manufacturing held steady at weaker levels in September, but new orders improved and prices paid for inputs declined to a nine-month low, which together with falling

Barclays to pay $4 million to settle US CFTC charges over swap reporting

Barclays Bank PLC has agreed to pay $4 million to settle civil charges that it violated U.S. law and Commodity Futures Trading Commission regulations requiring accurate

Canada September factory PMI shows first growth in 17 months

Canadian manufacturing activity strengthened for the first time in 17 months in September as market demand improved and lower borrowing costs bolstered confidence

Berkshire Hathaway buys full control of its energy unit

Berkshire Hathaway will take full ownership of Berkshire Hathaway Energy, after Warren Buffett's conglomerate agreed to acquire the 8% it did not already own from the

Equinix signs $15 billion joint venture to build U.S. data center infrastructure

Data center firm Equinix is forming a joint venture with Singapore's sovereign wealth fund GIC and Canada Pension Plan Investment Board with goals to raise more than $15 billion in capital

Ford slashes annual, monthly prices for hands-free driving service

Ford Motor Co said on Tuesday it will lower the annual and monthly subscription prices for its hands-free driving technology.

PepsiCo to buy tortilla-chip maker Siete Foods for $1.2 billion

PepsiCo will buy Siete Foods parent Garza Food Ventures for $1.2 billion, the Frito-Lay owner said on Tuesday, beefing up its snacking portfolio amid a shift to private-label brands among

UniCredit's 'federal model' boosts its foreign subsidiaries, CEO says

UniCredit has built a "federal model" as a pan-European bank with subsidiaries in each of its 13 markets that can act locally, CEO Andrea Orcel said, as he called on

TotalEnergies, APA greenlight $10.5 billion oil and gas project in Suriname

France's TotalEnergies and U.S.

Being ‘mindful’ about your bank account can bring more than peace of mind − a researcher explains the payoff

Awareness and acceptance of not only your money, but your feelings about your money, can help guide responsible financial decisions.

Brokerage Charles Schwab's long-time CEO Bettinger to retire

Charles Schwab said on Tuesday President Rick Wurster will succeed long-time CEO Walt Bettinger, marking a change of the guard at the brokerage firm after 16 years.

Health insurers unveil Medicare Advantage plans for 2025

Health insurers Cigna, CVS Health, Humana Centene and UnitedHealth on Tuesday released details on their government-backed health insurance plans for next year for people aged 65 and above.

Apple may need to turn to China after Indian Tata plant fire, sources say

Extensive damage from a fire at Tata Group's Apple iPhone component plant in southern India could hamper production ahead of a festive season sales surge, an

Spice maker McCormick lifts annual forecast as demand recovers

Hot sauce maker McCormick raised its annual earnings forecast on Tuesday after posting better-than-expected third-quarter results, banking on consumers choosing to make meals at home to

Brent oil traders use little known rule to reroute US cargoes

Big energy merchants trading oil cargoes that form the basis of the Brent benchmark have used a little known rule to reroute U.S.

Volkswagen's truck unit Traton plans to increase profitability by 2029

Volkswagen's truck unit Traton set out five-year targets during its Capital Markets Day on Tuesday, as it expects to benefit from the shift towards electrification and plans to raise

Western nations urge Kenya to seek IMF review of corruption issues, sources say

Major shareholders at the International Monetary Fund are urging Kenya to request an IMF assessment of corruption and governance issues as part of a push to unlock

More ratings cuts feared after Moody's downgrades Israel two notches

A two-notch downgrade of Moody's Israel credit rating may not be the last, analysts say, as war on two fronts spurs state spending and raises fears that the

CVC-backed Moove Lubricants targets up to $1.9 billion valuation in US IPO

Brazil's Moove Lubricants, backed by European private equity firm CVC Capital Partners, set a target of up to $1.94 billion valuation on Tuesday for its U.S. initial public offering.

Indexes end down as Iran launches missiles at Israel; defense shares rise

U.S. stocks ended lower, with the Nasdaq losing more than 1%, on Tuesday as investors grew more cautious after Iran fired missiles at Israel.

Boeing considers raising at least $10 billion in share sale, Bloomberg News reports

Boeing is considering raising at least $10 billion by selling new stock, Bloomberg News reported on Tuesday, citing people familiar with the discussions.

Pakistan's annual consumer price inflation slows to 6.9% in September

Pakistan's annual consumer price inflation slowed to 6.9% in September, data showed on Tuesday, the lowest in more than three years, as the government seeks to implement IMF

Siemens Energy agrees to settlement with US in case over gas turbine contracts

Siemens Energy has agreed to pay $104 million to settle an investigation with U.S. authorities, it said, after it used stolen trade secrets to inflate bids for contracts five

Bank of Mexico may consider larger rate cuts, says bank governor

The Bank of Mexico's governing board may consider larger cuts to its benchmark interest rate going forward as inflation in Latin America's second largest

Stocks kick off Q4 at record, euro inflation undershoots

A look at the day ahead in U.S. and global markets from Mike Dolan Wall Street's S&P500 kicks off the final quarter of a stellar 2024 from yet another record close notched on Monday - with odd quarter

US new vehicle sales fall in Q3 on fewer selling days, inflationary headwinds

Top U.S. automakers reported a fall in their third-quarter sales on Tuesday, hurt by fewer selling days and weaker consumer spending amid inflationary challenges and higher

Egypt's current account falls into deficit in 2nd quarter

Egypt's current account fell into deficit in the second quarter, reversing a rare surplus in the same period of 2023 as imports rose and Suez Canal revenue plunged, the central bank

Inflation in Europe falls below 2% and opens the way for faster rate cuts

Inflation in the 20 countries that use the euro fell to 1.8% in September, below the European Central Bank’s target of 2% for the first time in more than three years

Euro zone inflation dips below 2%, strengthening rate cut case

Euro zone inflation dipped below 2% for the first time since mid-2021 in September, reinforcing an already solid case for a European Central Bank rate cut this

Why bond investors favour Spain over France

Investors have started demanding more compensation to lend money to France than they do to Spain, punishing France for not getting its ailing finances

Lufthansa CEO aims to revive 'problem child' airline by 2026

Lufthansa is aiming to revive its core airline by 2026 as one of Europe's top carriers struggles more than its regional rivals with

ECB's Rehn sees more reasons for an interest rate cut in October

Euro area inflation slowing down means that there are now more reasons to justify an interest rate cut at the ECB's October policy-setting meeting, Finnish ECB policymaker Olli

Australian pilots union rejects Qantas Airways' wage proposal

The Australian pilots union said on Tuesday that it has rejected a wage proposal from Qantas Airways for its short haul pilots, days after the company's engineers went on a strike to

New Japan PM appoints Abenomics proponent as finance minister

Japan's new leader Shigeru Ishiba appointed a proponent of former premier Shinzo Abe's "Abenomics" policies as finance minister on Tuesday, in

European shares close lower on growing fears of Iran attack on Israel

European shares reversed initial gains to close lower on Tuesday, as investors moved out of riskier assets amid escalating geopolitical fears that

Deutsche Bank says ECB will cut rates in October after inflation drop

Deutsche Bank on Tuesday said it now expects the European Central Bank to cut interest rates again in October, after steeper-than-expected falls in inflation across the euro zone in

China, US to hold talks on economic and trade issues, Xinhua reports

Chinese Commerce Minister Wang Wentao and his U.S. counterpart will hold a call in the near future on trade and economic ties, China's state-run Xinhua news agency reported on

Sri Lanka to discuss shape of IMF deal during Oct meetings in Washington

Sri Lanka will have detailed talks with the IMF on the framework of a $2.9 billion bailout programme on the sidelines of the lender's annual meetings in

France's Barnier announces targeted tax hikes to plug budget deficit

Prime Minister Michel Barnier announced steep public spending cuts and targeted tax hikes for France's biggest companies and

Wall Street retreats from records and oil prices jump after Iran's missile attack on Israel

U.S. stocks pulled back from their records after a sharp escalation of tensions in the Middle East raised worries about potential disruptions to the flow of oil

Browser security startup Menlo annual recurring revenue reaches $100 million

Menlo Security's annual recurring revenue (ARR) has exceeded $100 million, rising by about 30% from the prior year, CEO Amir Ben-Efraim said in an interview, and expects to be cash flow

Milder inflation seen setting up rate cuts

A look at the day ahead in European and global markets from Tom Westbrook European inflation figures are due on Tuesday and the risk is to the downside, which will reinforce bets that the European

Thai exports seen up 2% this year but strong baht a challenge, shippers say

Thailand's exports are expected to rise 2% this year, the upper end of a previous forecast of 1% to 2% growth, but the rapidly strengthening baht could be a challenge for the rest

China new home prices manage tiny uptick again in September, private survey shows

Prices of new homes in China rose slightly in September, traditionally a peak season for house hunting, a private survey showed on Tuesday, extending months of feeble gain in a

Australia's central bank bars Canadian investment bank from private briefings after leak - sources

Australia's central bank has barred Canada's global investment bank from confidential briefings after one of its clients leaked details from a closed door briefing, two sources

Stocks fall, safe haven assets rally with oil as Iran fires on Israel

MSCI's global equities index fell with Treasury yields on Tuesday as investors shied away from riskier assets while oil futures rallied on concerns about

Safe havens gain as Iran fires missiles at Israel

Safe haven currencies strengthened on Tuesday as Iran launched missiles towards Israel, while the dollar also firmed on data showing a resilient U.S. labor market.

BOJ signals rate-hike pause after big Fed cut, market rout

Bank of Japan policymakers discussed the need to go slow in raising interest rates as jittery markets clouded the outlook, a summary of their September meeting showed,

South Korea export momentum cools, led by slower U.S. shipments

The pace of South Korea's export growth slowed in September, with shipments to the United States losing momentum, in an outcome that may support market expectations

Japan's business mood steady in July-Sept, keeps BOJ rate hike chance alive

Japanese business sentiment was steady in the three months to September, a closely watched survey showed, a sign the economy remained on track for

US anti-trust trial in Tapestry bid for Capri ends, judge's decision awaited

The U.S. anti-trust trial over the $8.5 billion bid by luxury goods maker Tapestry to buy Capri concluded on Monday, with Tapestry lawyers citing an "intensely

Japan Aug jobless rate falls to 2.5%, job availability tightens

Japan's jobless rate in August fell to 2.5% from 2.7% in July, government data showed on Tuesday.

Mexico antitrust regulator to rule on Walmart unit in coming days, firm says

Mexican antitrust regulator Cofece should publish its decision on an investigation into Walmart's unit in the country in the next few days, the firm said on Monday.

Ireland unveils 10.5 billion euro pre-election budget giveaway

The Irish government handed voters 10.5 billion euros of tax cuts and spending increases in a pre-election budget on Tuesday that also outlined

Global investors gear up to go back into China

Global investors are preparing to stake bets on China again, in a major sentiment shift sparked by Beijing's drive to reverse its economic slowdown and revive long

UK shop prices fall by the most since August 2021, survey shows

Prices in British shops fell at the fastest pace in more than three years in September, the British Retail Consortium said on Tuesday, adding to signs that the inflation squeeze on

CVS explores options including potential break-up, sources say

CVS Health is exploring options that could include a break-up of the company to separate its retail and insurance units, as the struggling healthcare services

Audacy completes its financial restructuring and now plans to go private

Audacy completes its financial restructuring and now plans to go private

23andMe CEO Wojcicki no longer open to third-party takeover proposals, filing shows

Genetic testing firm 23andMe Chief Executive Officer Anne Wojcicki would no longer be open to considering third-party takeover proposals for the company, a regulatory filing showed on

Tesla, Musk beat shareholder lawsuit over self-driving promises

Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the

Measured Powell, China breather set scene for Q4 open

A look at the day ahead in Asian markets.

Teamsters inks tentative agreement with Hertz, averting strike

Teamsters has reached a tentative agreement with car-rental firm Hertz Global, averting a potential strike, the labor union said on Monday.

Amgen must face lawsuit claiming it hid $10.7 billion tax bill

A federal judge said Amgen must face a proposed class action accusing the drugmaker of waiting too long to tell shareholders it might owe the Internal Revenue

KB Home's longtime CFO Kaminski to retire in early 2025

U.S homebuilder KB Home said on Monday its finance chief Jeff Kaminski has decided to retire in early 2025, after more than 14 years in the role.

Cerebras reveals revenue surge in US IPO filing, aims to challenge Nvidia in AI chip market

Cerebras Systems, a startup competing with industry leader Nvidia for a slice of the lucrative AI chip market, said late on Monday its revenue surged more

PepsiCo in talks to buy Siete Foods for over $1 billion, WSJ reports

PepsiCo is in advanced talks to acquire tortilla-chip maker Siete Foods for more than $1 billion, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Qatar Airways buys into Virgin Australia, raising the stakes against Qantas

Qatar Airways will buy a 25% stake in Virgin Australia from U.S. private equity firm Bain Capital, posing a tougher contest for Qantas Airways

Canada's TD Bank to pay over $20 million over US 'spoofing' charges

The U.S. broker-dealer unit of Toronto Dominion Bank has agreed to pay over $20 million under a deal with U.S. authorities to settle charges that it manipulated the U.S. Treasuries market.

Powell suggests 50 bp more cuts in store for 2024

The U.S. economy seems poised for a continued slowdown in inflation that will allow the Federal Reserve to cut its benchmark interest rate and "over time" reach a level that is no longer

Texas Stock Exchange moves closer to launch with leadership team, board

The Texas Stock Exchange announced a board of directors on Monday in its latest step toward building a national exchange to rival long-established

New Basel Endgame draft still has problems, US FDIC Vice Chair Hill says

The new draft of the "Basel Endgame" bank capital hikes still has problems, in particular around how the rule would assess banks' market risks, Federal Deposit Insurance

Fed Chair Powell says the US economy is in 'solid shape' with gradual rate cuts coming

Federal Reserve Chair Jerome Powell has signaled that more rate cuts are in the pipeline, though their size and speed will depend on the evolution of the economy

Fed sees no 'hurry' to cut rates as confidence in economy grows, Powell says

Federal Reserve Chair Jerome Powell indicated on Monday the U.S. central bank would likely stick with quarter-percentage-point interest rate cuts

Saudi Arabia expects 2024 deficit to widen to 3% of GDP

Saudi Arabia estimates its 2024 fiscal deficit will widen to almost 3% of GDP, according to a government statement on Monday, as it

Bristol Myers beats $6.4 billion lawsuit over delayed cancer drug

Bristol Myers Squibb won the dismissal on Monday of a $6.4 billion lawsuit claiming it cheated former Celgene shareholders by delaying federal approval for the cancer drug Breyanzi and two

US reaches $31.5 million settlement with T-Mobile over data breaches

T-Mobile has reached a $31.5 million settlement to resolve a probe by the Federal Communications Commission into significant data breaches over three years

Imported cars face higher fees as Russia plans domestic production boost

Russia plans to effectively raise taxes on imported cars from 2025 by doubling the scrappage fees all car producers must pay while also increasing state support for locally made vehicles,

Fed's Bostic open to another large rate cut if job market weakens

Atlanta Federal Reserve President Raphael Bostic said on Monday he would be open to another half-percentage-point interest rate cut at the U.S.

Study Group has a sobering message for copper bulls: Andy Home

Copper has rallied hard this week as China's pledged stimulus package has rekindled investor enthusiasm. 

Drug giant Pfizer sells $3.3 billion stake in Sensodyne-maker Haleon

Pfizer sold a stake in British consumer healthcare group Haleon worth about $3.26 billion on Monday, cutting its shareholding in the maker of Sensodyne toothpaste and Panadol

US oil demand grew to highest seasonal level since 2019 in July, EIA data shows

U.S. oil demand rose in July to the highest seasonal level since 2019 while output declined for the second time in three months, data from the U.S.

G7 aims to finalise deal on $50 billion loan to Ukraine by end-Oct, EU says

The Group of Seven (G7) countries want to reach a political agreement on the $50 billion loan for Ukraine by the end of October for the cash to be able to available before the end

Beijing eases home purchase rules to boost demand

Beijing relaxed restrictions on home buying on Monday, following similar moves by Shanghai and Shenzhen, in a bid to boost demand and prop up the struggling property market.

Platinum Equity's Ingram Micro makes US IPO filing public

Ingram Micro made public its U.S. IPO filing on Monday, more than two years after the private-equity backed electronics distributor laid the foundation for its return to stock markets.

US FTC allows Chevron-Hess deal, bars John Hess from board

The U.S. Federal Trade Commission allowed Chevron's $53 billion purchase of Hess Corp on Monday, in an order that barred Hess CEO John Hess from Chevron's board.

IMF sees gradual return to economic normalcy in Bangladesh

The International Monetary Fund on Monday said Bangladesh's quick formation of an interim government has helped stabilize the country, and that the country's new authorities

Australia's Sept home prices rise modestly, rents barely grow

Australia's home prices rose at a tepid pace in September, with a jump in listings to a three-year high and lower auction clearance rates suggesting the momentum in the red-hot

US to announce over $300 million in aid for Palestinians in Gaza, West Bank

The United States on Monday will announce nearly $336 million in additional humanitarian assistance for Palestinians in Gaza and the West Bank, according to

Brazil private economists forecast two 50-basis-point rate hikes this year

Private sector economists in Brazil now project a more restrictive path for interest rates, with two 50-basis-point hikes expected this year and higher borrowing costs

TPG acquires minority stake in wealth management firm Creative Planning

Asset manager TPG has bought a minority stake in wealth management firm Creative Planning, striking its second such deal in less than a week as it looks to expand its foothold in the

FBI to pay $22M to settle claims of sexual discrimination at training academy

The FBI has agreed to pay more than $22 million to settle a class-action lawsuit alleging female recruits were singled out for dismissal in training and routinely harassed by instructors with sexually charged comments about their breast size, false allegations of infidelity and the need to take birth control “to control their moods.”

SoftBank to invest $500 million in OpenAI, The Information reports

Japanese telecom company SoftBank's Vision Fund will invest $500 million in OpenAI's latest funding round, The Information reported on Monday, citing a person familiar with the deal.

Yen thrills and oil spills in Q3's market rollercoaster

What a wild quarter for the markets!

US natgas prices edge up to 15-week high on weeks of low storage builds

U.S. natural gas futures edged up about 1% to a 15-week high as reduced output so far this year has cut the amount of the fuel going into storage for the winter heating

ECB's Lagarde drops rate-cut hint as inflation falls

The European Central Bank is increasingly confident that inflation will fall to its 2% target and this will be reflected in its next policy

S&P 500 ekes out record closing high; declines briefly after Powell

The S&P 500 sputtered to a record high close on Monday, rebounding from a brief setback after Federal Reserve Chair Jerome Powell said the U.S. central

Brazil posts larger-than-expected August deficit as government spending outpaces revenue

Brazil's public sector posted a larger-than-expected deficit in August, central bank data showed on Monday, driven by a mismatch between central government revenues and

Turkey inflation expected to fall below policy rate in Sept, first time since 2021- Reuters poll

Turkey's annual inflation is expected to continue its decline in September and fall below the central bank's policy rate for the first time since 2021, a Reuters poll showed on

Republican Party's top bank, Chain Bridge, aims for $167 million valuation in US IPO

Chain Bridge Bancorp, a lender popular among Republicans since its inception, is targeting a valuation of up to $167 million in its initial public offering

German inflation eases to 1.8% in September

German inflation eased slightly more than forecast to 1.8% in September, preliminary data from the federal statistics office showed on Monday.

Ford to offer free chargers to EV buyers through year-end

Ford is trying to woo the electric vehicle-curious by offering free home chargers and installation to buyers of EVs through the end of the year, the company said on

Google ad tech trial outcome no death blow, win or lose

By Kenrick Cai SAN FRANCISCO - As Google's trial on allegations of building an illegal monopoly in advertising technology nears its close, experts said the financial risk of losing the case is minimal

Stellantis shares plunge as carmaker follows Volkswagen in warning on profits

Stellantis shares plunge as carmaker follows Volkswagen in warning on profits

Insurance brokerage Marsh McLennan strikes $7.75 billion deal for McGriff Insurance Services

Insurance brokerage Marsh McLennan said on Monday it has agreed to buy McGriff Insurance Services for $7.75 billion, as the industry gears up for higher spending on policies

UniCredit and Commerzbank in five charts

UniCredit chief executive officer Andrea

Partners Group-backed KinderCare seeks up to $3.1 billion valuation in long-sought US IPO

KinderCare Learning Companies, a provider of early childhood education, set a target of up to $3.09 billion valuation on Monday for its long-sought U.S. initial public offering.

Big US oil companies reveal massive payments to foreign governments

The three largest U.S. energy exploration companies paid more than $42 billion to foreign governments last year, about eight times more than what they paid in the United

MercadoLibre, Latam's Amazon.com rival, rides high with AI, loans, drones

When Wagner Dias and his wife Mariana needed a loan to grow their children's clothes business, the Brazilian entrepreneurs

India's April-August fiscal deficit at 27% of full-year target

India's fiscal deficit for April-August was 4.35 trillion rupees ($51.93 billion), or 27% of the estimate for the financial year, government data showed on Monday.

Satellite service DirecTV buys rival Dish as it fights the onslaught of streaming services

DirecTV is buying Dish and Sling as the company, a deal it has sought to complete for years as seeks to better compete against streaming services that have become dominant

European carmakers warn on profits in the face of weak demand and rising costs

European carmaker Stellantis on Monday joined bigger rival Volkswagen and others in warning about the worsening outlook for auto demand and rising costs, wiping

Oil forecasts cut for 5th straight month on demand, OPEC uncertainty: Reuters poll

Analysts have cut their 2024 oil price forecasts for a fifth consecutive month, citing weaker demand and uncertainty over OPEC’s plans, with prices expected to

Verizon in $3.3 billion mobile tower deal with infrastructure firm Vertical Bridge

Verizon Communications will give infrastructure firm Vertical Bridge rights to lease, operate and manage thousands of mobile phone towers for $3.3 billion, it said on

Powell to close out Q3, China stocks boom 8%

A look at the day ahead in U.S. and global markets from Mike Dolan The final day of another punchy quarter for U.S. stocks has proven a more volatile affair overseas: China's stellar stock recovery

US to unveil first of two decisions on more solar tariffs

U.S. trade officials this week may impose new tariffs on solar panels from four Southeast Asian nations that American manufacturers have complained employ unfair subsidies

BHP expects copper demand to grow by 1 million metric tons a year until 2035

Australian miner BHP expects the world to consume an extra 1 million metric tons of copper per year on average until 2035 due to the adoption of copper-intensive technologies, double the

AT&T sells stake in DirecTV to TPG for $7.6 billion

AT&T said on Monday it would sell its entire 70% stake in satellite TV provider DirecTV to private equity firm TPG for $7.6 billion, exiting a business marked by declining distributions for

Investors sell US equity funds for fifth week in a row

Investors reduced holdings in U.S. equity funds for the fifth consecutive week through Sept. 25, driven by lingering concerns about the economy's health and caution ahead of the U.S.

European autos stocks wipe off $10 billion after Stellantis warning

European auto stocks tumbled almost 4% on Monday after a warning from Stellantis, Volkswagen and Aston rekindled concerns over the sector's earnings outlook in a

Canada's housing affordability crisis may persist for years despite rate cuts

Buying a house may remain out of reach for many Canadians for the foreseeable future, with mortgage costs unlikely to fall enough to offset lofty home prices and

JPMorgan's 'Jamie premium' to be tested as CEO succession looms

Questions hang over who will succeed JPMorgan Chase CEO Jamie Dimon and when, but analysts and investors say one thing is almost certain: the bank's stock will

Investor caution prompts global money market fund inflow

Global money market funds experienced their highest weekly inflows in nearly six months, with investors cautious about the health of the U.S. economy and concerned that further rate cuts

China's central bank buys 200 billion yuan of sovereign bonds in September

The Chinese central bank said on Monday it had bought 200 billion yuan ($28.52 billion) of the

German inflation eases, spurring hopes for another ECB cut

German inflation fell to its lowest level since February 2021 this month, preliminary data showed on Monday, helping European Central Bank doves

Chinese investors rush into stocks for fear of missing out on epic rally

Animal spirits are back in China's stock market as investors rush into equities, galvanized by Beijing's policy bonanza and driven by fear

Strong Thai baht hitting exporters and tourism, says central bank

A rapid appreciation of the Thai baht is hitting exporters and tourism spending, the central bank said on Monday, adding that the currency was gaining due to a weak dollar in the

European shares end lower as automakers weigh, though clocks quarterly gains

Europe's STOXX 600 closed lower on Monday with automakers leading declines after industry majors Stellantis and Volkswagen's profit warnings, though

China's benchmark stock index on track for biggest daily gain since 2008

China's stock markets have been on a tear since Beijing rolled out flurry of stimulus measures last week and over the weekend to jolt the beaten-down market and revive a slowing economy.

Murdoch's REA ends month-long takeover pursuit of Britain's Rightmove

Rightmove's shares dropped 8% on Monday after Rupert Murdoch's REA Group ended its $8.29 billion takeover pursuit following a fourth bid rejection from the British

Aston Martin drops 28% after profit warning on supply chain, China woes

Aston Martin warned of lower annual profit and cut its production forecast on Monday on supply chain challenges and dogged weakness in China, sending shares as much as

Cross-border M&A recovers in Asia as dealmakers look abroad for growth

Cross-border mergers and acquisitions involving companies in the Asia-Pacific region have recovered this year and are booming in Japan as

UK revises down economic growth but signs of strength remain

Britain's economy grew more slowly than previously thought in the second quarter, but there were positive signs from household finances and business investment that

Stellantis cuts 2024 profit outlook as US sales crisis deepens

Stellantis cut its 2024 profit forecast on Monday and warned it will burn through more cash than expected as Europe's No.2 carmaker pledged to reduce output and offer big discounts

China stocks surge in biggest single-day rally since 2008 on stimulus cheer

Chinese stocks swept to their biggest single-day gains in 16 years on Monday, with domestic A-shares registering their highest ever turnover, as investors scrambled to

Fed's Powell poised to speak as economists fret about a policy mistake

A mistake by the U.S. central bank in setting interest rates during the last phase of its inflation battle is the main risk that could undercut the

Broadening gains in US stock market underscore optimism on economy

More stocks are participating in the S&P 500’s latest march to record highs, easing concerns over a rally that has been concentrated in a handful of giant

Bank of Korea governor says board needs to discuss household debt

South Korea's central bank governor said on Monday he would need to discuss with board members the impact of recent government measures aimed at taming household debt, when asked

Nikkei retreats, China rallies

A look at the day ahead in European and global markets from Wayne Cole.

New Swiss central bank chief takes charge in shadow of Credit Suisse trauma

As the Swiss National Bank's new chairman Martin Schlegel takes office this week, the jury is out on the central bank's handling of the Credit Suisse crash and its

China property shares surge on easier home purchase rules, improved sentiment

Shares of China's property developers soared on Monday, with broad double-digit gains, as investors cheered easier home purchase rules in major cities and Beijing's

Reviving China's stock market helps economic recovery, China Sec Journal says

Reviving China's stock market and boosting investor confidence will aid the country's economic recovery by breaking a vicious cycle that has curbed investment and consumption, the

Dollar gains as Fed's Powell adopts hawkish tone on economy