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November 30, 2021

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EXCLUSIVE Major Toshiba shareholder objects to break-up, urges board to solicit offers

Reuters
The logo of Toshiba Corp. is seen next to a traffic signal atop of a building in Tokyo, Japan November 9, 2021. REUTERS/Issei Kato Register now for FREE unlimited access to reuters.com Register TOKYO, Nov 24 (Reuters) – Toshiba Corp’s (6502.T) second-largest shareholder on Wednesday objected to the Japanese conglomerate’s......

Oil slumps below $80 on resurgent European COVID fears

Reuters
Oil and gas tanks are seen at an oil warehouse at a port in Zhuhai, China October 22, 2018. REUTERS/Aly Song/File Photo Register now for FREE unlimited access to reuters.com Register Austria to enter full lockdown next week Rising cases in Europe may lead to further restrictions Top economies weighing......

Wall Street sees first Fed climate change review in 2023

Reuters
Climate change activists voice their opposition to U.S. President Joe Biden reappointing Jerome Powell to serve a second four-year term as the chairman of the Federal Reserve and demand Biden appoint a climate advocate, during a rally outside the Federal Reserve in Washington, U.S., October 29, 2021. REUTERS/Leah Millis WASHINGTON, Nov......

U.S. retail sales surge as Americans kick off holiday shopping, brighten economic outlook

Reuters
Shoppers wait in line to enter the Chanel store on 57th St in New York City, U.S., May 24, 2021. REUTERS/Brendan McDermid Retail sales increase 1.7% in October Core retail sales accelerate 1.6% Manufacturing production rebounds 1.2% WASHINGTON, Nov 16 (Reuters) – U.S. retail sales surged in October as Americans......

Analysis: Banks profit from building up and breaking up companies

Reuters
Nov 16 (Reuters) – It is a constant dilemma facing companies; do they acquire or shed businesses to boost shareholder returns? Investment bankers profit every time the answer involves a deal, even if it represents an about-face for the companies. Last week’s announcements by General Electric Co (GE.N), Toshiba Corp......

EXCLUSIVE BNP hires advisers to explore $15 bln Bank of the West sale – sources

Reuters
The BNP Paribas logo is seen at a branch in Paris, France, February 4, 2020. REUTERS/Benoit Tessier JPMorgan and Goldman Sachs working with BNP – sources Discussions still at early stage – sources PNC, Canada’s TD and BMO seen as potential suitors Any deal would face U.S. regulatory challenges LONDON,......

Japan’s largest bank MUFG forecasts annual net profit to hit record

Reuters
Signboards of MUFG Bank are seen in Tokyo, Japan April 3, 2018. REUTERS/Toru Hanai/File Photo TOKYO, Nov 15 (Reuters) – Mitsubishi UFJ Financial Group Inc (MUFG) (8306.T) on Monday forecast record annual net profit, thanks to the release of cash from pandemic-related provisions as well as a drop in other......

EV maker Rivian prices IPO above range to raise over $11.9 bln

Reuters
NEW YORK, Nov 9 (Reuters) – Amazon-backed electric vehicle (EV) maker Rivian sold shares in its initial public offering (IPO) at $78 per share, above its target range, to raise more than $11.93 billion, the company said on Tuesday. The flotation ranks among the top 10 IPOs of all time......

Credit Suisse Chairman Horta-Osorio says big investors back overhaul

Reuters
Antonio Horta Osorio, CEO of Lloyds Banking Group, arrives at a garden party at Buckingham Palace, London, May 22, 2018. REUTERS/Simon Dawson/File Photo ZURICH, Nov 7 (Reuters) – Credit Suisse’s (CSGN.S) big shareholders back the scandal-hit bank’s new strategy, Chairman Antonio Horta-Osorio told Swiss newspaper NZZ am Sonntag, adding the......

Biden’s COVID-19 vaccine mandate for private-sector workers to begin Jan. 4

Reuters
WASHINGTON, Nov 4 (Reuters) – President Joe Biden will enforce a federal mandate that workers at U.S. companies with at least 100 employees be vaccinated against COVID-19 or be tested weekly starting on Jan. 4, a reprieve to businesses facing labor shortages during the holiday season, U.S. officials said on......

France’s SocGen beats Q3 estimates, names new CFO

Reuters
The logo of Societe Generale is seen on the headquarters at the financial and business district of La Defense near Paris, France, February 4, 2020. REUTERS/Benoit Tessier PARIS, Nov 4 (Reuters) – French bank Societe Generale (SOGN.PA) posted on Thursday higher third-quarter earnings, beating estimates, supported by strong revenue from......

Robinhood expands offering that allows retail investors to buy into IPOs

Reuters
The logo of Robinhood Markets, Inc. is seen at a pop-up event on Wall Street after the company’s IPO in New York City, U.S., July 29, 2021. REUTERS/Andrew Kelly/File Photo Nov 3 (Reuters) – Online brokerage Robinhood Markets Inc (HOOD.O) said on Wednesday it would allow companies issuing shares through......

EXCLUSIVE JPMorgan to restrict trading of U.S. cannabis stocks -letter

Reuters
A view of the exterior of the JP Morgan Chase & Co. corporate headquarters in New York City May 20, 2015. REUTERS/Mike Segar/File Photo Nov 2 (Reuters) – JPMorgan Chase & Co (JPM.N) has told prime brokerage clients it will no longer let them buy U.S. cannabis-related securities beginning Nov.......

Nearly all development banks committed to cutting coal investment, data shows

Reuters
Men stand by a car near a coal-fired power plant in Shanghai, China October 21, 2021. REUTERS/Aly Song SHANGHAI, Nov 2 (Reuters) – Nearly all internationally available development financing is now committed to reducing or ending investment in coal-fired power after moves by China and the G20 to stop supporting......

Deutsche Bank extends profit run on boost from dealmaking fees

Reuters
The logo of Deutsche bank is seen in Hong Kong, China July 8, 2019. REUTERS/Tyrone Siu Q3 net attrib profit 194 million euros vs f’cast 135 mln 5th straight qtr of profit, longest streak in black since 2012 CEO says to meet 2022 targets Shares down 6%, retreat from four-month......

China’s Modern Land misses bond payment; property shares drop

Reuters
Men work at the construction site of a highrise building in Beijing, China, October 18, 2021. REUTERS/Thomas Peter Modern Land cites liquidity issues for non-payment State planner, forex regulator meet with overseas issuers Hang Seng mainland property index falls more than 5% HONG KONG/SHANGHAI, Oct 26 (Reuters) – Modern Land......

Hong Kong’s zero-COVID policy undermining financial hub status – industry group

Reuters
A general view showing the Central Business District, in Hong Kong, China, September 15, 2021. REUTERS/Tyrone Siu HONG KONG, Oct 25 (Reuters) – A financial industry group warned on Monday that Hong Kong’s zero-COVID policy and strict quarantine requirements for international travellers threatens to undermine the city’s status as a......

EXCLUSIVE Italy and UniCredit close to ending talks over MPS sale-sources

Reuters
Banca Monte dei Paschi’s headquarters in Siena, Italy, October 27, 2017. REUTERS/Stefano Rellandini/File Photo Agreed to exclusive talks on July 29 Fail to bridge gap over MPS’ recapitalisation needs Framework studied for UniCredit could apply in standalone plan LONDON, Oct 23 (Reuters) – Italy’s government and UniCredit (CRDI.MI) are preparing......

China power crunch slams factories as coal lobby warns woes could stay until winter

Reuters
SHENYANG, China, Sept 30 (Reuters) – Small firms caught in China’s prolonged energy crunch are turning to diesel generators, or simply shutting shop, as coal industry officials voiced fears about stockpiles ahead of winter and manufacturing shrank in the world’s no. 2 economy. Beijing is scrambling to deliver more coal......

Japan e-commerce giant Rakuten to list online bank

Reuters
The logo of Rakuten is pictured at the headquarters of Rakuten in Tokyo, Japan, May 15, 2019. REUTERS/Sam Nussey/File Photo TOKYO, Sept 30 (Reuters) – Japanese e-commerce firm Rakuten Group Inc (4755.T) said on Thursday it is preparing to list its online banking unit, raising funds as it soaks up......

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