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May 24, 2022

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BlackRock moves to sidelines on developed market equities

Reuters
NEW YORK, May 23 (Reuters) – BlackRock Investment Institute cut its ratings of developed market (DM) equities to “neutral” from “overweight” on Monday, citing the U.S. Federal Reserve’s potentially overzealous efforts to curb inflation and signs of economic slowdown in China. Regarding the Fed’s ramped-up rhetoric “vowing to bring inflation......

Saudi Arabia’s Alwaleed to sell 16.87% of Kingdom Holding to PIF for $1.5 bln

Reuters
Saudi Arabian billionaire Prince Alwaleed bin Talal attends the investment conference in Riyadh, Saudi Arabia October 23, 2018. REUTERS/Faisal Al Nasser Register now for FREE unlimited access to Reuters.com Register DUBAI, May 22 (Reuters) – Saudi billionaire Prince Alwaleed bin Talal has signed an agreement with Saudi Arabia’s powerful sovereign......

U.S. Treasury’s Yellen presses Poland on global minimum tax

Reuters
Treasury Secretary Janet Yellen testifies during the Senate Banking, Housing, and Urban Affairs Committee hearing titled β€œThe Financial Stability Oversight Council Annual Report to Congress,” in Dirksen Senate Office Building in Washington, D.C.,U.S., May 10, 2022. Tom Williams/Pool via REUTERS Register now for FREE unlimited access to Reuters.com Register WARSAW,......

Berkshire shareholders vote to keep Buffett as chairman, reject climate disclosures

Reuters
OMAHA, Neb., April 30 (Reuters) – Berkshire Hathaway Inc (BRKa.N) shareholders on Saturday rejected proposals to have an independent chair replace Warren Buffett, and require his company to disclose more about its climate-related risks and efforts to improve diversity. Shareholders supported letting Buffett keep both the chairman and chief executive......

Economic fears hit global equities, commods; Twitter lifts Wall St

Reuters
WASHINGTON/LONDON, April 25 (Reuters) – European stocks slid to a one-month low and commodity prices dropped on Monday on renewed concerns about rising interest rates and China’s sputtering economy, while Wall Street shares rose, reversing losses after Twitter agreed to be bought by billionaire Elon Musk. Fears over China’s COVID-19......

China unveils private pension plan for ageing population

Reuters
A China yuan note is seen in this illustration photo May 31, 2017. REUTERS/Thomas White/Illustration Register now for FREE unlimited access to Reuters.com Register BEIJING, April 21 (Reuters) – China unveiled a private pension scheme on Thursday, allowing employees to save funds in pension accounts and invest in financial products,......

Ackman gives up on Netflix, taking $400 mln loss as shares tumble

Reuters
April 20 (Reuters) – Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix (NFLX.O) on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing......

CalPERS to vote to replace Buffett as Berkshire chairman

Reuters
April 19 (Reuters) – CalPERS, the largest U.S. public pension fund, on Tuesday said it will vote for a shareholder proposal that Berkshire Hathaway Inc (BRKa.N) replace Warren Buffett as chairman, though he would remain chief executive officer. The fund, whose full name is the California Public Employees’ Retirement System,......

Yellen to push institutions to scale up response to war-fueled food security crisis

Reuters
WASHINGTON, April 18 (Reuters) – U.S. Treasury Secretary Janet Yellen will convene a high-level panel on Tuesday to discuss the global response to an ongoing food security crisis exacerbated by Russia’s war against Ukraine, the Treasury Department said in a statement. The meeting will include the heads of the International......

How the U.S. plans to starve Russia’s ‘war machine’ -Treasury’s Adeyemo to Reuters

Reuters
WASHINGTON, April 7 (Reuters) – The United States is ramping up sanctions against Russia to deprive Moscow’s “war machine” of money and components needed to sustain its invasion of Ukraine, but curbing a main source of funding, Russian energy exports, will take time, U.S. Deputy Treasury Secretary Wally Adeyemo told......

U.S. stops Russian bond payments in bid to raise pressure on Moscow

Reuters
Russian rouble banknotes are seen in this illustration picture shot September 30, 2014. REUTERS/Maxim Zmeyev/Illustration Register now for FREE unlimited access to Reuters.com Register NEW YORK/WASHINGTON, April 4 (Reuters) – The United States stopped the Russian government on Monday from paying holders of its sovereign debt more than $600 million......

Analysis: With capital markets jittery, private equity pounces to finance tech buyouts

Reuters
April 4 (Reuters) – When buyout firm Thoma Bravo LLC was seeking lenders to finance its acquisition of business software company Anaplan Inc (PLAN.N) last month, it skipped banks and went directly to private equity lenders including Blackstone Inc (BX.N) and Apollo Global Management Inc (APO.N). Within eight days, Thoma......

Massive S&P options trade may have roiled U.S. stocks on Thursday

Reuters
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., March 30, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register NEW YORK, April 1 (Reuters) – Traders are pointing to a massive quarterly options trade on Thursday they said......

Stocks look past rate risks in late rally, yen wilts

Reuters
NEW YORK, March 28 (Reuters) – World stock markets cast aside fears of rising interest rates on Monday with the tech-heavy U.S. Nasdaq index rallying 1.3%, even as parts of the Treasury yield curve signaled recession risks while oil prices tumbled on fears of weaker Chinese demand. After a choppy......

Ericsson shareholder Cevian to vote against board members at AGM

Reuters
STOCKHOLM, March 28 (Reuters) – Cevian Capital, one of Ericsson’s (ERICb.ST) biggest investors, said on Monday it would vote against a motion this week that would clear some board members of responsibility over the possible payment of bribes to militant organisations in Iraq. Norway’s sovereign wealth fund, another major shareholder,......

U.S. diplomats say no American policy of regime change in Russia

Reuters
U.S. President Joe Biden speaks during an event at the Royal Castle, amid Russia’s invasion of Ukraine, in Warsaw, Poland, March 26, 2022. REUTERS/Aleksandra Szmigiel/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, March 27 (Reuters) – Top American officials clarified on Sunday that the United States......

‘Meme stock’ rally redux? GameStop, AMC shares rocket higher

Reuters
NEW YORK, March 23 (Reuters) – More than a year after retail investors, aided by social media, forced an epic squeeze of a handful of heavily shorted stocks, a few of the famous “meme” stocks were back in the fast lane this week. GameStop Corp (GME.N)surged 14.5% on Wednesday and......

Australia bans alumina exports to Russia, sources coal for Ukraine

Reuters
March 20 (Reuters) – Australia has imposed an immediate ban on exports of alumina and aluminum ores, including bauxite, to Russia, the government said on Sunday as part of its ongoing sanctions against Moscow for its invasion of Ukraine. “Russia relies on Australia for nearly 20 percent of its alumina......

GM bets $3.5 bln more on self-driving tech unit as SoftBank exits

Reuters
WASHINGTON, March 18 (Reuters) – SoftBank Group Corp’s (9984.T) Vision Fund exited its bet on General Motors (GM) (GM.N) self-driving car subsidiary Cruise as the auto giant upped the ante, investing another $3.45 billion in the loss-making unit. SoftBank’s departure, which comes as the Japanese conglomerate struggles with debts, prompted......

Wall St surges in broad rally as oil prices slide; Fed in focus

Reuters
Big banks rise in anticipation of interest rate hike Energy shares slip as oil falls below $100 a barrel Indexes up: Dow 0.90%, S&P 1.23%, Nasdaq 1.75% March 15 (Reuters) – Wall Street’s main indexes climbed on Tuesday as oil prices extended declines and data showed a softer-than-expected rise in......

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