The Japanese yen strengthened sharply in afternoon trading in Asia, bouncing after it briefly hit a new 34-year low of 160 against the dollar on waning expectations for near-term rate increases from the Bank of Japan. The yen rebounded to 155.07 to the dollar Monday afternoon after earlier touching its weakest level since April 1990. Trading volumes […]
Chinese electric vehicle maker Zeekr priced its initial public offering at $21 a share Thursday, at the top end of its range. The company will sell 21 million American depository shares to raise $441 million when it begins trading on the New York Stock Exchange on Friday under the ticker ZK. The offering sits at […]
BEIJING — Railway passenger trips in China hit a record high of over 20.69 million on Wednesday, the first day of the five-day May Day holiday, data from the national railway operator shows. The China State Railway Group Co, Ltd. (China Railway) said 17 million railway passenger trips are expected on Thursday, with 1,094 additional passenger […]
NEW YORK, May 9 (Reuters) – Jury selection is expected to wrap up Thursday in the criminal racketeering trial of Sung Kook “Bill” Hwang over the 2021 collapse of his $36 billion fund Archegos Capital Management, setting the stage for opening statements and witness testimony next week. Prosecutors, Hwang’s lawyers and U.S. District Judge Alvin […]
May 8 (Reuters) – Online brokerage Robinhood Markets (HOOD.O), opens new tab beat estimates for first-quarter profit on Wednesday, thanks to robust crypto trading volumes and rate hikes that boosted its net interest revenue. The approval of the first spot bitcoin ETFs in the U.S. in January boosted sentiment towards the crypto industry, which had been bruised […]
May 8 (Reuters) – New York Community Bancorp (NYCB.N), opens new tab was the cheapest U.S. bank stock among lenders with more than $3 billion in assets for the second straight month, an analysis by S&P Global Market Intelligence showed on Wednesday. The evaluation based on adjusted tangible book value (TBV) showed that as of April 30, […]
RACINE, Wisconsin, May 8 (Reuters) – U.S. President Joe Biden on Wednesday unveiled plans by Microsoft Corp (MSFT.O), opens new tab to build a $3.3 billion data center in southeastern Wisconsin, drawing a sharp contrast to his Republican predecessor who had backed a previous $10 billion project at the same site that was significantly scaled back. Biden, […]
NEW YORK, May 7 (Reuters) – Bankrupt Steward Health Care has put all of its 31 U.S. hospitals up for sale, hoping to finalize transactions by the end of the summer to address its $9 billion in total liabilities, its attorneys said at a Tuesday court hearing in Houston. Steward, which filed for bankruptcy protection on Monday, […]
FRANKFURT, May 7 (Reuters) – A Moscow court has authorized the seizure of some 12.4 million euros ($13.34 million) of assets held in Russia by a European subsidiary of JPMorgan (JPM.N), opens new tab and Germany’s Commerzbank (CBKG.DE), opens new tab, it said in a preliminary ruling. The court made the ruling on April 26 in favour of […]
LondonCNN — UBS has reported its first quarterly profit since buying ailing rival Credit Suisse, marking a sharp turnaround from six months of losses that immediately followed the closure of the rescue deal. Shares in the Swiss lender surged 10% in Zurich Tuesday after it posted net profit of $1.8 billion for the first three months of 2024 — […]