By Medha Singh and Bansari Mayur Kamdar (Reuters) – Apple Inc looked set to cross $3 trillion in market value at open on Tuesday, after the world’s most valuable company briefly hit the milestone a day earlier. The iPhone maker’s shares rose half a percent to $182.87 in premarket trading. Shares breached $182.86 in intraday…
By Bozorgmehr Sharafedin LONDON (Reuters) -Oil prices rose on Tuesday as investors expected OPEC+ producers meeting on output to stick with their planned increase for February based on indications Omicron would have only a mild impact on demand. Brent crude was up 48 cents, or 0.6%, at $79.46 a barrel at 1310 GMT, while U.S….
LONDON (Reuters) – Insured losses of $44 billion from COVID-19 so far represent the third largest cost to insurers of any catastrophe, behind Hurricane Katrina and the 9/11 attacks, insurance broker Howden said on Tuesday. However, initial projections of $100 billion-plus for COVID-19 insured losses now look “improbable”, Howden said in a report on reinsurance…
(Reuters) -Private equity firm TPG said on Tuesday it was seeking a valuation of up to $9.3 billion in its initial public offering in the United States. The Fort Worth, Texas-based company plans to sell around 28.3 million shares priced between $28 and $31 each. It would raise about $877.6 million at the top end…
By Clare Jim HONG KONG (Reuters) – China Evergrande Group’s shares soared briefly in resumed trade on Tuesday after the developer said a government order to demolish 39 buildings on the resort island of Hainan would not affect the rest of its massive project there. The firm, struggling to repay more than $300 billion in…
LONDON (Reuters) – The U.S. dollar rose to a five-year high versus the yen on Tuesday, boosted by expectations of U.S. Federal Reserve rate hikes, as investors bet that the fast-spreading Omicron coronavirus variant would have limited economic impact. In the second trading day of 2022, global markets extended the upbeat moves seen on Monday….
SHANGHAI (Reuters) – Tesla’s announcement that it has opened a showroom in Xinjiang has attracted criticism from U.S. rights and trade groups, making it the latest foreign firm caught up in tensions related to the far-western Chinese region. Xinjiang has become a significant point of conflict between Western governments and China in recent years, as…
By David Kirton GUANGZHOU, China (Reuters) – Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company’s offices in Guangzhou on Tuesday, with many worried that their returns would be sacrificed to keep real estate projects afloat. Members of the crowd of roughly 100 people shouted “Evergrande, return our money!”, reprising…
HONG KONG (Reuters) – Embattled property developer China Evergrande Group said on Tuesday its contracted sales for 2021 had plunged 39% from the previous year to 443 billion yuan ($69.5 billion), as its shares were set to resume trading. The company said its shares would resume trading at 1:00 p.m. (0500 GMT) after being suspended…
