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December 11, 2019
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Reuters - Business

Aramco IPO to help Saudi economy shift from oil: finance minister

Reuters
RIYADH (Reuters) – Saudi Aramco’s listing will boost the kingdom’s efforts to diversify from oil as the bulk of proceeds will be injected in domestic projects, while the global buzz surrounding the deal will help lure foreign capital, the finance minister said. Participants attend the official ceremony marking the debut...
Reuters - Business

BlackRock Investment Institute ‘modestly positive’ on risk assets for 2020

Reuters
FILE PHOTO: A sign for BlackRock Inc hangs above their building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo LONDON (Reuters) – BlackRock Investment Institute said on Tuesday it was cautiously rotating into cyclical assets, Japanese equities and emerging markets. “We are modestly positive on risk assets,” said...
Reuters - Business

Instant View: U.S. Nov payrolls up by most in 10 months

Reuters
(Reuters) – U.S. job growth increased by the most in 10 months in November as former striking workers returned to General Motors’ (GM.N) payrolls and the healthcare industry stepped up hiring, confirming that the economy remained on a moderate expansion path despite a prolonged manufacturing slump. FILE PHOTO: Work crews...
Reuters - Business

Britain’s Phoenix to buy Swiss Re’s ReAssure business for $4.1 billion

Reuters
LONDON/ZURICH (Reuters) – Phoenix Group Holdings (PHNX.L) has agreed to buy the British business of Swiss Re (SRENH.S) for 3.2 billion pounds ($4.1 billion) in cash and shares, the UK insurer’s biggest deal to date, driving the two companies’ shares higher. The logo of Swiss insurer Swiss Re is seen...
Reuters - Business

SoftBank’s Son cleaves to gut-led investing in chat with Alibaba’s Ma

Reuters
TOKYO (Reuters) – Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp’s founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc’s co-founder Jack Ma. SoftBank Group founder and CEO Masayoshi Son and Alibaba founder and former Chairman...
Reuters - Business

SoftBank’s Son cleaves to guts-led investing in chat with Alibaba’s Ma

Reuters
TOKYO (Reuters) – Weeks after his billion-dollar bailout of WeWork, SoftBank Group Corp’s (9984.T) founder and CEO Masayoshi Son reiterated his belief in an instinct-led investing style, in a discussion with Alibaba Group Holding Inc’s (BABA.N) co-founder Jack Ma. SoftBank Group founder and CEO Masayoshi Son and Alibaba founder and...
Reuters - Business

BlackRock says global active equities chief Wiseman to leave firm after breaching relationships policy

Reuters
(Reuters) – Mark Wiseman, global head of active equities at BlackRock Inc, is leaving the firm following a violation of the company’s “relationships at work policy,” the world’s largest asset manager said in an internal memo on Thursday. Mark Wiseman, Global Head of Active Equities and Chairman of BlackRock Alternative...
Reuters - Business

Wall Street’s high-stake bets on calm less risky than they seem

Reuters
NEW YORK (Reuters) – At a glance, a near-record accumulation of speculative bets on market tranquility looks like it couldn’t have come at a worse time. FILE PHOTO: A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., September 17, 2019....
Reuters - Business

Investors urge Big Oil to follow ‘poster child’ Repsol’s climate pledge

Reuters
LONDON (Reuters) – Investors cheered Spanish group Repsol’s (REP.MC) pledge to slash net carbon emissions to zero by mid-century, saying they hope it will pile pressure on rival oil and gas companies to follow suit in the fight against climate change. FILE PHOTO: The logo of Spanish energy giant Repsol...
Reuters - Business

Graphic: Wall Street’s high-stake bets on calm less risky than they seem

Reuters
NEW YORK (Reuters) – At a glance, a near-record accumulation of speculative bets on market tranquility looks like it couldn’t have come at a worse time. FILE PHOTO: A Wall St. street sign is seen near the New York Stock Exchange (NYSE) in New York City, U.S., September 17, 2019....
Reuters - Business

U.S. Supreme Court skeptical of Intel in retirement fund dispute

Reuters
WASHINGTON (Reuters) – U.S. Supreme Court justices on Wednesday appeared skeptical of Intel Corp’s (INTC.O) bid to avoid a lawsuit accusing it of violating federal law in making employee retirement plan investments that cost beneficiaries hundreds of millions of dollars. FILE PHOTO: Computer chip maker Intel’s logo is shown on...
Reuters - Business

Sole CEO means simpler business for Alphabet: analysts

Reuters
(Reuters) – Alphabet’s change of leadership should simplify the company’s unorthodox management structure under new boss Sundar Pichai without creating unwanted turbulence in strategy at one of Silicon Valley’s biggest names, Wall Street analysts said on Wednesday. FILE PHOTO: Google CEO Sundar Pichai speaks during signing ceremony committing Google to...
Reuters - Business

Modest Orange dividend overshadows European mobile mast plans

Reuters
PARIS (Reuters) – Orange (ORAN.PA) said it planned to carve out its mobile towers in most European countries to shore up the group’s value, but the move was overshadowed by the French telecom firm’s modest dividend outlook, sending its shares lower. FILE PHOTO: Orange logo is seen during the Mobile...
Reuters - Business

France’s Orange plans to set up European mobile mast company

Reuters
PARIS (Reuters) – Orange (ORAN.PA) said it planned to carve out its mobile towers in most European countries where it is present, in a move aimed at shoring up the telecom group’s value as tough competition in the region has hampered its growth and margins. FILE PHOTO: Orange logo is...
Reuters - Business

Fund managers deploy machines to decipher British election riddle

Reuters
LONDON (Reuters) – Question: How do you predict the outcome of a snap election when so many polls have been so wrong, half of voters haven’t made up their minds and the crucial factor may not be who wins, but how much they win by? FILE PHOTO: Union Jack flags...
Reuters - Business

Buffett’s Berkshire outbid for Tech Data: CNBC

Reuters
(Reuters) – Billionaire investor Warren Buffett was thwarted in trying to spend some of the $128.2 billion of cash at his Berkshire Hathaway Inc, after a private equity firm outbid him to buy technology equipment distributor Tech Data Corp for $5.14 billion, CNBC said on Friday. Berkshire Hathaway Chairman Warren...
Reuters - Business

Exclusive: Brazil, China, UAE firms in second round of bids for Petrobras refineries – sources

Reuters
SAO PAULO (Reuters) – Brazil’s state-controlled oil company Petroleo Brasileiro SA (PETR4.SA) has selected four groups for the second round of bidding for four refineries up for sale, including China’s Sinopec, Abu Dhabi’s state investor and two Brazilian firms, according to four people with knowledge of the matter. FILE PHOTO:...
Reuters - Business

Hedge funds control 35-45% of Osram shares in headache for suitor AMS: source

Reuters
MUNICH (Reuters) – Hedge funds control 35-45% of the shares of German lighting group Osram (OSRn.DE), posing a headache for Austrian suitor AMS (AMS.VI) as the investors may press for the $5 billion offer to be sweetened, a person close to the matter said on Thursday. FILE PHOTO: The logo...
Reuters - Business

Permira, North Face owner among bidders for sneaker brand Golden Goose: sources

Reuters
LONDON/MILAN (Reuters) – U.S. apparel and footwear conglomerate VF Corporation and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources familiar with the matter told Reuters. FILE PHOTO: The logo of the Carlyle Group is displayed...
Reuters - Business

Exclusive: Big four auditors face investor calls for tougher climate scrutiny

Reuters
LONDON (Reuters) – European investors managing assets worth more than 1 trillion pounds ($1.28 trillion) are pressing top auditors to take urgent action on climate-related risks, warning that failure to do so could do more damage than the financial crisis. Natasha Landell-Mills, head of stewardship at Sarasin & Partners, poses...

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