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 […]
LONDON, May 31 (Reuters) – Global investors poured $3.6 billion into investment grade corporate bond funds in the week to Wednesday, Bank of America said on Friday, in the 31st straight week of inflows, the longest streak since 2019. A rise in global interest rates has forced up corporate bond yields, drawing in buyers attracted […]
May 30 (Reuters) – Commercial landlord British Land (BLND.L), opens new tab has outperformed the broader UK property market, thanks to its strategy of adding more out-of-town retail parks to its portfolio that has allowed it to weather beaten-down building values in the sector. The Broadgate owner has been doubling down on its investments in retail parks […]
Opportunities abound in China’s stock markets, the world’s second biggest, where valuations are attractive after a long period of underperformance, a senior official at Zurich-based EFG Asset Management said after his fund raised its exposure to Chinese shares. In recent weeks, China has issued an unprecedented set of policy guidelines to push for transparency, security, […]
Shares of SK Inc., one of South Korea’s biggest conglomerates, surged as much as 16% on Thursday after a court reportedly ordered the company’s chairman to pay $1 billion to his wife in a divorce lawsuit. Chey Tae-won was told by a Seoul court to pay 1.38 trillion Korean won to his estranged wife, Roh […]
DUBAI, May 30 (Reuters) – At an industry event in Riyadh two years ago, the Saudi energy minister paused at about 9 p.m. in front of some 1,000 people and told them it was bedtime for Amin Nasser, the chief executive of giant state-owned oil producer Saudi Aramco. He was not joking. Over a career […]
May 29 (Reuters) – The consolidation wave in the U.S. energy sector that triggered $250 billion worth of deals in 2023 has stretched into this year, as companies look for opportunities to deploy their cash hoard and boost their reserves. The majority of energy executives polled in December by the Federal Reserve Bank of Dallas […]
May 29 (Reuters) – Aethon Energy said on Wednesday it would buy Tellurian’s (TELL.A), opens new tab upstream assets for $260 million and signed a deal that could allow the investment firm to purchase two million tons per annum of liquefied natural gas from Tellurian’s Driftwood LNG plant. Shares of the U.S. LNG developer rose 13.2% in […]
MOSCOW, May 29 (Reuters) – HSBC (HSBA.L), opens new tab has transferred ownership of its Russian unit to Expobank for an undisclosed fee, the two lenders said on Wednesday, ending around two years of negotiations and uncertainty. HSBC’s exit from Russia has been on the cards since February, when Russian President Vladimir Putin gave approval for the […]
China has doubled down on efforts to achieve self-sufficiency in its semiconductor industry by creating the country’s largest-ever chip investment fund, disregarding mounting pressure from US tech sanctions and a track record of corruption in these state-led programmes. The third phase of the China Integrated Circuit Industry Investment Fund, also known as the “Big Fund”, was established last Friday with a registered […]