Tag: Biz
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Biden admin. moves to nix US states’ challenge to ESG investing rule
June 5 (Reuters) – The Biden administration has asked a federal judge to toss out a lawsuit by Republican-led states seeking to strike down a rule allowing socially-conscious investing by employee retirement plans. The U.S. Department of Justice in a filing in Amarillo, Texas federal court on Friday said the rule was needed to replace ... -
Global equity funds suffer seventh straight week of outflows
June 5 (Reuters) – Global equity funds saw a seventh straight week of outflows in the seven days to May 31 on global economic slowdown concerns after weaker readings from China and major European countries. Investors disposed of a net $4.55 billion of global equity funds during the week, Refinitiv Lipper data showed, compared with ... -
UBS expects to seal Credit Suisse takeover as early as June 12
Credit Suisse will be merged into UBS after deal’s completion New group will oversee $5 trillion in assets UBS CEO has warned of painful decisions ahead UBS CEO: still analysing plan for Credit Suisse domestic business UBS shares indicated slightly higher in premarket ZURICH, June 5 (Reuters) – UBS (UBSG.S) expects to complete its takeover ... -
Founder of Brazil’s CVC to invest $15 million, new CEO picked
SAO PAULO, June 2 (Reuters) – Brazilian travel operator CVC (CVCB3.SA) said on Friday it has reached an agreement with its founder for a 75 million reais ($15.13 million) investment in the company, as well as electing a new chief executive officer. CVC founder Guilherme Paulus will make the investment through “an eventual and future” ... -
GM, POSCO Future M to boost investment at Canada battery materials plant
June 2 (Reuters) – General Motors Co (GM.N) and South Korea’s POSCO Future M said they will invest more to expand the production capacity at their chemical battery materials facility in Canada, taking their estimated total investment in the plant to over $1 billion. The companies said on Friday the new investment in their Ultium ... -
Analysis: Banks break taboo for high-risk bonds
[1/2] U.S. dollar and Euro bank notes in Frankfurt, Germany, in this illustration picture taken May 7, 2017. REUTERS/Kai Pfaffenbach/Illustration Banks typically repaid AT1 bonds after five years Credit Suisse wiped out billions, shocked investors Some small banks no longer repaying June 2 (Reuters) – Investors who earned easy money with high-risk bonds invented after ... -
Morning Bid: Hot, cold and skipping a beat
A look at the day ahead in U.S. and global markets from Mike Dolan If the Federal Reserve does skip raising interest rates this month it’s probably because it is as confused as everyone else about the health of the U.S. economy as June kicks off. Like a patient with a virus, incoming data appears ... -
Exclusive: Southeast Asian tech giant Sea disbands investment arm -sources
HONG KONG/SINGAPORE, June 1 (Reuters) – Southeast Asian e-commerce and gaming giant Sea Ltd (SE.N) is winding down its investment arm, two people with knowledge of the matter said, amid a cooling investment environment globally as macroeconomic and market uncertainty weigh on valuations. The arm, Sea Capital, stopped new equity investing in 2022 with leadership ... -
Morgan Stanley expects trading, investment banking results to weaken
NEW YORK, May 31 (Reuters) – Morgan Stanley (MS.N) expects its revenue from trading and investment banking to slump in the second quarter given a more challenging economic environment, co-president Andy Saperstein told investors Wednesday. Sales and trading “results will be notably down year over year versus a strong second quarter last year,” while “investment ... -
WE Soda to sell at least $800 mln shares in rare London IPO
LONDON, May 31 (Reuters) – WE Soda, the world’s largest producer of natural soda ash, is looking to raise at least $800 million for its parent Ciner Group in an initial public offering (IPO), its chief strategy officer told Reuters, in a show of confidence in London’s capital markets. The ultimate size of the offering ...
