Category: Reuters
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Volkswagen shares down after possible Brussels plant closure, profit warning By Reuters
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FRANKFURT (Reuters) – Shares of Volkswagen fell 1.5 percent in early Frankfurt trading after Europe’s largest carmaker issued a profit warning late on Tuesday over accusations related to the possible closure of an Audi plant in Brussels. Volkswagen said the costs of finding an alternative use for the Brussels plant…
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China’s Ping An eyes up to $5 billion convertible bond, sources say By Reuters
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By Scott Murdoch (Reuters) – China’s Ping An Insurance Co Ltd is considering issuing convertible bonds worth up to $5 billion, people familiar with the matter said. One of the sources said the bonds could raise between $2 billion and $5 billion, and the two sources added that an agreement…
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Blackstone taps Citi veteran Tyler Dickson for a key role in credit business By Reuters
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(Reuters) – Private equity firm Blackstone said on Tuesday it has hired Tyler Dixon, the former global head of investment banking at Citigroup, to lead client relationships for its credit and insurance unit. The new role will oversee the Institutional Client Solutions team at Blackstone Credit & Insurance (BXCI), and…
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Deja-vu? In Olympics push, France ramps up war on fakes By Reuters
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By Helen Reid, Lily Forodi, and Mimosa Spencer PARIS (Reuters) – At the tourist flea market in Saint-Ouen, not far from the Stade de France where athletes will compete at this summer’s Paris Olympics, police stormed in at dawn on April 3 and closed 11 shops selling counterfeit bags and…
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Shares post patchy performance ahead of Powell testimony By Reuters
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(Repeated to add title tag, no change to story content) By Tom Wilson LONDON (Reuters) – Stock markets were mixed on Tuesday as investors waited to see whether U.S. Federal Reserve Chairman Jerome Powell would support an interest rate cut after evidence emerged of a slowdown in the U.S. labor…
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How a Trump election victory could ruffle Latin American markets By Reuters
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Written by Rodrigo Campos NEW YORK (Reuters) – The possibility that former President Donald Trump could win back the White House in November has investors preparing for different scenarios, with “America’s backyard” at the top of the list of markets to watch. The Trump administration’s relations with most Latin American…
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Oil prices hold steady as concerns over hurricane damage ease By Reuters
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By Colleen Howe and Trixie Yap (Reuters) – Oil prices were little changed on Tuesday after a hurricane that hit a major U.S. oil production hub in Texas caused less damage than markets had expected, easing concerns about supply disruptions. Brent crude futures rose four cents to $85.79 a barrel…
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Honda to end vehicle production at one of its Thai auto plants By Reuters
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TOKYO (Reuters) – Honda The Japanese automaker said Tuesday it will stop vehicle production at its plant in Thailand’s Ayutthaya province by 2025 as it plans to consolidate production at the plant it operates in Prachinburi province. The move highlights the increasingly difficult conditions facing Japan’s second-largest automaker in the…
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Australia auto parts retailer Bapcor rejects Bain Capital’s $1.2 billion bid By Reuters
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By Scott Murdock and Rajasik Mukherjee SYDNEY (Reuters) – Australian auto parts retailer Babcor on Tuesday rejected a A$1.83 billion ($1.23 billion) takeover bid from private equity firm Bain Capital, saying it did not fully reflect the company’s value. The company’s shares fell about 4.3% in early trading Tuesday. Australia’s…
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Purdue creditors seek approval to sue Sackler family members By Reuters
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By Dietrich Knuth NEW YORK (Reuters) – Creditors of Purdue Pharma Inc on Monday sought permission from a U.S. bankruptcy court to sue the company’s wealthy owners, arguing that litigation could serve as a negotiating tool and fallback option as the maker of the drug OxyContin resumes talks on a…
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Exclusive-Bain Capital nears deal to buy Envestnet, sources say By Reuters
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Milan city win (Reuters) – Private equity firm Bain Capital is close to a deal to acquire Investnet Inc., a U.S. financial software provider with a market value of about $3.5 billion, people familiar with the matter said on Monday. If the talks go through, a deal with Bain could…
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US airlines cancel over 1,300 flights due to Hurricane Beryl By Reuters
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(Reuters) – U.S. airlines canceled more than 1,300 flights and delayed more than 1,000 on Monday as Hurricane Beryl strengthened and made landfall in Texas. Flight tracking website FlightAware reported a total of 1,361 flights had been canceled and 1,014 flights delayed as of 9:06 a.m. ET. United Airlines topped…
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Eli Lilly to buy bowel disease drug developer Morphic for $3.2 billion By Reuters
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(Reuters) – Eli Lilly and Company said on Monday it will acquire Morphek Holdings Inc (NASDAQ:MLS) for $3.2 billion in cash, giving the U.S. drugmaker access to an experimental drug for a type of inflammatory bowel disease. Shares of drug developer Morphek surged 76% to $56.15 premarket after Lilly’s offer…
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Porsche stops production of some combustion models early By Reuters
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FRANKFURT (Reuters) – Porsche is sticking to its position in its move to electric cars, bringing forward the end of production of some internal combustion models, the company’s production chief told Automobilwoche magazine. Porsche board member Albrecht Reimold said the petrol-powered version of the Macan SUV for non-European markets will…
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Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
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By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
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Boeing to plead guilty to fraud in US probe of fatal 737 MAX crashes By Reuters
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By Chris Prentice, Mike Spector, and David Shepardson NEW YORK/WASHINGTON (Reuters) – Boeing Co has agreed to plead guilty to a criminal fraud conspiracy charge and pay a $243.6 million fine to settle a U.S. Justice Department investigation into two deadly crashes of its 737 MAX jetliner, the government said…
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Asia shares firm, euro dogged by French election deadlock By Reuters
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By Wayne Cole SYDNEY (Reuters) – Asian shares rose on Monday as investors grew more confident about a U.S. interest rate cut in September, while the euro faced political uncertainty after French elections signaled a hung parliament. In France, a left-wing coalition unexpectedly took first place, ahead of the far…
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US commits to bolstering financial connectivity in Pacific By Reuters
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BRISBANE (Reuters) – The United States is committed to promoting “financial connectivity, investment and integration,” a senior U.S. Treasury official told a Pacific banking meeting in Brisbane on Monday, where financial institutions and government officials are meeting to try to improve banking facilities in the region. The Pacific region is…
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Special committee of Paramount Global endorses plan to merge with Skydance Media, source says By Reuters
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By Don Chmielewski Businessman David Ellison is one step closer to taking control of Paramount Global after a special committee voted on Sunday to back a merger with his company Skydance Media, a source close to the deal told Reuters. The proposed deal is likely to be approved by Paramount’s…
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Argentina’s Milei to speak at right-wing Bolsonaro rally in Brazil By Reuters
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Written by Anderson Coelho BALANEIO CAMBORIU, Brazil (Reuters) – Argentine President Javier Milei is set to address a right-wing event in Brazil on Sunday after meeting conservative politicians in the country, potentially straining relations between the neighbors. On Saturday, Milei arrived at the Balneario Camboriu beach resort in southern Brazil,…