The yen rose sharply on Monday and the euro touched its highest this year as the dollar retreated broadly with traders bracing for dovish signals from Federal Reserve meeting minutes and Chair Jerome Powell’s speech at Jackson Hole. The minutes of the Fed’s July meeting, due on Wednesday, and Powell’s speech on Friday are likely […]
President Joe Biden announced on Tuesday he is putting $150 million in new federal funding towards developing technology to better help surgeons successfully remove cancerous tumors. The award, which Biden touted during a visit to New Orleans, is the latest infusion of cash in Biden’s “Cancer Moonshot,” a program spearheaded by the president and the […]
Family-owned candy giant Mars is buying Cheez-It maker Kellanova (K.N), opens new tab in a nearly $36 billion deal, bringing together brands from M&M’s and Snickers to Pringles and Pop-Tarts in the year’s biggest deal to date. Mars said on Wednesday it will pay $83.50 per share for Kellanova (K.N), opens new tab, representing about a 33% premium to […]
Vista Equity Partners, whose Cloud Software Group includes top enterprise-software providers Citrix and Tibco, aims to raise around $5 billion to extend its investment in the parent company in what would be, if successful, one of the largest deals ever to cross the secondary market for private-equity stakes. Vista, a technology-focused fund manager with assets […]
Family-owned candy giant Mars, whose brands include M&M’s and Snickers, is nearing a deal to acquire Kellanova (K.N), opens new tab, maker of snacks such as Cheez-It and Pringles, for nearly $30 billion, a person familiar with the matter told Reuters on Tuesday. Mars will pay $83.50 per share in an all-cash deal for Kellanova (K.N), opens […]
India’s Bharti Enterprises said it would acquire a 24.5% stake in BT (BT.L), opens new tab, worth 3.2 billion pounds ($4 billion), to buy out the British company’s top investor Patrick Drahi as his Altice group speeds up asset sales to cut its debt burden. The move by Bharti’s billionaire founder, Sunil Bharti Mittal, makes one […]
Systematic trading strategies including those run by hedge funds continue to dump trades, adding to about $109 billion of global equity futures sold in the past month, Goldman Sachs strategist Scott Rubner said in a note seen by Reuters on Tuesday. Selling will likely continue into the autumn, and the second half of September might […]
Troubled Chinese developers Kaisa Group and Times China Holdings, which defaulted on a combined US$15 billion of offshore debts, have been granted more time to negotiate with creditors as the city’s High Court on Monday ordered adjournments in their winding-up hearings. Shenzhen-based Kaisa Group got a four-week reprieve after Justice Anthony Chan adjourned the case […]
The artificial intelligence (AI) industry in China’s southern Guangdong province grew to 180 billion yuan (US$25 billion) in 2023, according to state media, as the country’s manufacturing hub plays catch-up with Beijing and Shanghai in the highly competitive space. Much of the AI output growth is being driving by Shenzhen, the technology hub that borders Hong Kong, […]
Investment bankers working on debt underwriting may see bonuses climb by 25% to 35% this year, and bankers handling initial public offerings could see a 20% to 30% jump in 2024, Johnson Associates, a Wall Street compensation analysis firm said in a report. Strong growth in debt issuance, and IPO activity that has already raised […]