Category: Reuters
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Wall Street stocks fall; jobs data feeds uncertainty about rate cuts By Reuters
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By Chibuike Ojoh NEW YORK (Reuters) – U.S. stocks fell on Friday, pressured by a jobs report that showed the labor market remained sluggish but left traders uncertain about how far the Federal Reserve will go in cutting interest rates. All three major indices fell, with all 11 sectors of…
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Roblox set to launch paid videogames on its virtual platform By Reuters
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Written by Zuhair Kachwala (Reuters) – Roblox Inc said on Friday it will offer paid video games on its platform and allow developers to sell physical goods through the games they create. The video game company said at its developer conference that it will add the ability to price certain…
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DSV ahead in bidding for Deutsche Bahn’s Schenker, sources say By Reuters
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BERLIN (Reuters) – Danish transport company DSV is slightly ahead in the bidding race for German state rail operator Deutsche Bahn’s Schenker logistics unit, several people familiar with the sale process told Reuters on Friday. DSV’s offer is currently considered the most attractive, the sources said after a meeting of…
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Airbus posts lower deliveries, wins bumper order from private customer By Reuters
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European planemaker Airbus said on Friday its deliveries fell in August after a sharp rise the previous month, a decline that analysts said leaves the company struggling to deliver strong year-on-year growth to meet an annual target. The aircraft maker said it has delivered 47 aircraft, down from 77 in…
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Exclusive-Qualcomm has explored acquiring pieces of Intel chip design business, sources say By Reuters
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By Anirban Sen, Max A. Czerny, Milana Finn, and Mike Spector SAN FRANCISCO/NEW YORK (Reuters) – Qualcomm Inc (NASDAQ: QCOM) has explored the possibility of acquiring parts of Intel Corp (NASDAQ: INC)’s design business to bolster the company’s product portfolio, two people familiar with the matter said. The mobile chipmaker…
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China creates $230 billion brokerage powerhouse as consolidation gathers pace By Reuters
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HONG KONG (Reuters) – A merger of two state-backed brokerages in China to create a sector leader with $230 billion in assets is part of Beijing’s drive to consolidate the $1.7 trillion industry amid tough markets and is set to gain momentum, analysts said. Shanghai-based Guotai Juan Securities will acquire…
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Analysis-Cash-strapped consumers are giving Australia’s liquor makers a headache By Reuters
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By Byron Kay SYDNEY (Reuters) – Recent sales declines have forced Sydney liquor store owner Louise Dowling to work 40 hours more a week to make up for staff she has had to let go, as Australia’s cost-of-living crisis prompts more people to drink less alcohol. “Without foot traffic, without…
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Exclusive-US warns against Nippon merger with US Steel, citing China steel glut By Reuters
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Written by Alexandra Alper WASHINGTON (Reuters) – Nippon Steel Corp.’s proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt steel supplies needed for vital transportation, construction and agricultural projects, the United States said in a letter to the companies seen by Reuters. The…
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Russian court freezes Raiffeisen shares in local bank, blocking sale By Reuters
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FRANKFURT (Reuters) – A Russian court has frozen shares in the local arm of Raiffeisen Bank International, Russia’s largest Western bank said on Thursday, ruling out any sale of the company for now. The Austria-based Reserve Bank of India had pledged to spin off its Russia business, which provides a…
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Russian court freezes Raiffeisen shares in local bank, blocking sale By Reuters
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FRANKFURT (Reuters) – A Russian court has frozen shares in the local arm of Raiffeisen Bank International, Russia’s largest Western bank said on Thursday, ruling out any sale of the company for now. The Austria-based Reserve Bank of India had pledged to spin off its Russia business, which provides a…
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AT&T makes final offer to striking CWA union By Reuters
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(Reuters) – AT&T Inc has submitted its final offer to its negotiating committee, the Communications Workers of America union said on Thursday, adding that the proposal did not meet its expectations. The Communications Workers Union said the proposal was made on Wednesday, and then made a counteroffer later in the…
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Major Russian lenders say yuan coffers empty, urge central bank action By Reuters
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Written by Elena Fabrichnaya MOSCOW (Reuters) – Russia’s top banks have called on the central bank to take action to address a liquidity shortage in the yuan that has sent the rouble to its lowest level since April against the Chinese currency and pushed yuan swap rates into the single…
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Major Russian lenders say yuan coffers empty, urge central bank action By Reuters
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Written by Elena Fabrichnaya MOSCOW (Reuters) – Russia’s top banks have called on the central bank to take action to address a liquidity shortage in the yuan that has sent the rouble to its lowest level since April against the Chinese currency and pushed yuan swap rates into the single…
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Tesla shares gain on plans to launch Full Self-Driving in Europe, China By Reuters
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Written by Akash Sriram (Reuters) – Tesla Inc (NASDAQ:TSLA) shares rose 2.6 percent before the bell on Thursday after the electric carmaker stuck to its plans to launch its advanced driver assistance software for Full Self-Driving (FSD) in China and Europe pending regulatory approval. This comes about a month before…
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Tesla shares gain on plans to launch Full Self-Driving in Europe, China By Reuters
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Written by Akash Sriram (Reuters) – Tesla Inc (NASDAQ:TSLA) shares rose 2.6 percent before the bell on Thursday after the electric carmaker stuck to its plans to launch its advanced driver assistance software for Full Self-Driving (FSD) in China and Europe pending regulatory approval. This comes about a month before…
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Volvo Cars scales back margin and revenue ambitions By Reuters
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By Mary Manis and Nick Carey (Reuters) – Swedish carmaker Volvo Cars cut its margin and revenue ambitions for the second time in a year on Thursday, a day after abandoning its electric-only target as tariffs and weak demand for electric vehicles continue to weigh. Slowing demand for electric vehicles,…
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India’s shrinking balance of payments surplus keeps rupee near record lows By Reuters
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Written by Nimesh Vora MUMBAI (Reuters) – India’s rupee held near an all-time low on Thursday despite intervention by the country’s central bank, with traders and analysts expecting continued pressure on the currency due to a shrinking balance of payments surplus. The rupee was at 83.9750 against the US dollar,…
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Exclusive-US warned Nippon its US Steel bid poses a national security risk, sources say By Reuters
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By Alexandra Alper and David Shepardson WASHINGTON (Reuters) – The Biden administration told Nippon Steel Corp in a letter on Saturday that its $14.9 billion takeover of U.S. Steel would pose a national security risk by hurting the U.S. steel industry, three people said, adding to evidence that the United…