In the three days after Elon Musk engineered a deal to buy Twitter, he sold roughly $8.5 billion worth of shares in Tesla to help fund the purchase. Musk reported the sale of 9.6 million shares in filings with the Securities and Exchange Commission on Thursday and Friday. The trades were made at prices ranging…
By Sinéad Carew NEW YORK (Reuters) – The U.S. dollar index fell from 20-year highs and Wall Street equities sold off on Friday with the latest economic data and Amazon.com’s disappointing quarterly report and outlook keeping the spotlight on surging inflation. In U.S. Treasuries the benchmark 10-year yields capped off their biggest monthly gain since…
Thomas Tighe says helping Ukrainians can generally be done by using existing aid strategies. It’s just a matter of scale and adapting to circumstances on the ground. Since Russia invaded Ukraine in February, Tighe and the nonprofit humanitarian medical organization Direct Relief, where he has been president and CEO since 2000, have provided more than…
MILAN (Reuters) – Agricultural and construction machine maker CNH Industrial said on Friday it had sold the engineered films division on its Raven Industries unit to private equity firm Industrial Opportunity Partners (IOP) for $350 million. The sale of Raven Engineered Films Division (EFD) follows CNH Industrial’s $2.1 billion purchase of U.S. based Raven Industries…
By Marc Jones and Andrea Shalal LONDON/WASHINGTON (Reuters) -Russia made what appeared to be a late U-turn to avoid a default on Friday, as it made a number of overdue interest payments in dollars on its overseas bonds, despite previously vowing to pay only in roubles as long as its reserves remained frozen. Russia’s $40…
(Reuters) – Chilean state-owned mining company Codelco is optimistic about copper prices for 2022 boosted by higher demand, its president Maximo Pacheco said on Friday during a press conference. Pacheco, who spoke after a meeting with shareholders and Finance Minister Mario Marcel and Mining Minister Marcela Hernando, said the optimism stems from a global trend towards renewable…
By Saikat Chatterjee and Sujata Rao LONDON (Reuters) – The dollar’s race to two-decade highs is leaving a trail of destruction in its wake, exacerbating inflation in other countries and tightening financial conditions just as the world economy confronts the prospect of a slowdown in growth. This year’s 8% gain against a basket of currencies…
By Sruthi Shankar and Susan Mathew (Reuters) -European shares on Friday rose to their highest in a week as strong earnings reports and a rally in miners boosted risk appetite at the end of a volatile month dominated by concerns about slowing global growth. The pan-European STOXX 600 index rose 0.7%, trimming its monthly declines…
BERN, Switzerland (AP) — Switzerland’s new attorney general is pushing parliament to give his office more tools to fight white-collar crime. The country’s maximum financial penalty on corporations for wrongdoing is just 5 million Swiss francs ($5 million), and that’s “ridiculous,” Stefan Blaettler said Friday in an interview on the sidelines of his first press…
By Jonathan Stempel OMAHA, Neb. (Reuters) – The longtime chief executive of running shoe maker Brooks Running, a unit of Warren Buffett’s Berkshire Hathaway Inc, aims to more than triple revenue over the next decade, overcoming effects from supply chain disruptions and a lingering pandemic. Jim Weber, 62, who has led Brooks since 2001, said…
