Days after BHP Group failed to secure the $49 billion takeover of smaller rival Anglo American Plc, investors have one message for Chief Executive Mike Henry — keep your cool. BHP argues it showed restraint in the battle for Anglo, a welcome attribute in a sector notorious for burning billions of dollars of on underwhelming projects and ill-timed […]
BERLIN, June 3 (Reuters) – German state lender KfW (KFW.UL) has sold 110 million shares in Deutsche Telekom (DTEGn.DE), opens new tab for 2.5 billion euros ($2.7 billion), it said on Monday, as part Berlin’s plans to sell holdings in companies to invest in the country’s rail network. The shares – equivalent to a 2.2% stake in […]
A Reddit account linked to the meme-stock folk hero posted for the first time in years over the weekend, with a screenshot showing a $116 million position in GameStop stock, plus a big options bet. GameStop shares soared roughly 80% in premarket trading Monday. Other meme stocks also rallied: AMC shares jumped over 20%; Koss advanced more than 12% and BlackBerry shares […]
The spot ether exchange-traded fund (ETF) launched by Chinese fund manager ChinaAMC saw more than HK$5 million (US$640,780) in net inflows as of mid-day Wednesday, after reaching HK$3.77 million on Tuesday, the largest since launch, as investors anticipate US approval of similar products. The ETF saw more than 1.28 million shares traded on Tuesday. On […]
The regulators of Hong Kong and Saudi Arabia will explore ways to cross-list exchange traded funds (ETFs) and foster two-way fund flows, according to the Securities and Futures Commission (SFC). The SFC said on Monday that it was looking into the possibility of signing a memorandum of understanding with Saudi Arabia’s Capital Market Authority (CMA) […]
WASHINGTON, June 3 (Reuters) – The U.S.-led Indo-Pacific Economic Framework is holding a ministerial meeting this week in Singapore, including major firms joining a “Clean Economy” investor forum to boost infrastructure and climate investments across the region. It marks the first in-person IPEF ministerial session since the substantial conclusion of negotiations for the IPEF Clean […]
MOSCOW, June 1 (Reuters) – The Russian government has softened requirements for mandatory sales of foreign currency for exporters if more than half of the value of their contracts is paid in roubles, according to changes, opens new tab to a government decree. President Vladimir Putin signed the decree in October mandating the reintroduction of capital controls, affecting dozens […]
ZURICH, May 31 (Reuters) – UBS (UBSG.S), opens new tab on Friday completed the merger of the main parent companies of the Swiss bank and Credit Suisse, which it acquired last year after its longtime rival collapsed, putting an end to one of the bastions of the country’s financial sector. Shares in UBS ticked upwards after the […]
U.S. consumers and businesses alike have turned cautious about spending this year because of elevated inflation and interest rates, according to Bank of America CEO Brian Moynihan. Whether it’s households or small- to medium-sized businesses, Bank of America clients are slowing down the rate of purchases made for everything from hard goods to software, Moynihan said Thursday at […]
Five years ago, Nvidia CEO Jensen Huang owned a stake in his chipmaker worth roughly $3 billion. After Thursday’s rally, which pushed the stock to a record, his holdings now stand at more than $90 billion. Nvidia late Wednesday reported first-quarter earnings that topped estimates, with sales jumping more than 200% for a third straight quarter, driven by demand […]