A choppy day of trading on Wall Street ended with stocks closing higher Monday as investors brace for another big interest rate increase this week from the Federal Reserve. The indexes swayed between modest gains and losses for much of the day before a burst of buying in the final hour of trading. The S&P…
BEIJING (Reuters) -China will speed up fund injections to expedite project construction and boost domestic consumption, China’s state planner said at a news conference on Monday. That came after the world’s second-biggest economy slowed sharply in the second quarter, dragged down by a deepening property crisis, and slowing exports and imports. “The economy is at…
(Reuters) – A hacker released gameplay from Take-Two Interactive Software Inc’s Grand Theft Auto VI in one of the biggest leaks in gaming history, Bloomberg News reported on Sunday. Dozens of authentic, pre-release videos from GTA VI – of robberies, gunplay and open-world driving – were posted on an online message board over the weekend,…
(Reuters) – The founders of ice cream maker Ben & Jerry’s said on MSNBC on Sunday that parent Unilever PLC is in violation of the 2000 merger deal over its sale of Ben & Jerry’s business in Israel to a local licensee who could sell their products in the West Bank. “That agreement gave authority…
By Florence Tan SINGAPORE (Reuters) – Oil prices climbed during early Asian trade on Monday as a weaker dollar and supply concerns ahead of the European Union embargo on Russian oil in December offset fears of a global recession that could dampen fuel demand. Brent crude futures rose $1.15, or 1.3%, to $92.50 a barrel…
By Shadia Nasralla and Simon Jessop LONDON (Reuters) – Carbon Tracker and Global Energy Monitor said on Monday they had launched the first global registry of oil and gas reserves, production and emissions with data for more than 50,000 fields. The database makes previously disparate or hard-to-access data publicly available, including to investors attempting to…
SYDNEY (Reuters) – Australians looking to buy a new home could actually benefit from rising interest rates as they lower the price of housing enough to ultimately result in lower mortgage payments than they would otherwise face, a top central banker said on Monday. Speaking at a housing conference, Reserve Bank of Australia (RBA) Assistant…
By Jan Schwartz and Victoria Waldersee HAMBURG/BERLIN (Reuters) -Volkswagen is targeting a valuation of up to 75 billion euros ($75.1 billion) for luxury sportscar maker Porsche, it said on Sunday, in what will be Germany’s second-largest initial public offering (IPO) in history. Volkswagen will price preferred shares in the flotation of Porsche AG at 76.50…
By Jan Schwartz HAMBURG (Reuters) – Volkswagen will price preferred shares in the planned flotation of Porsche AG at 76.50 euros to 82.50 euros ($76.61 to $82.62) per share, the carmaker said on Sunday, generating proceeds of between 8.7 to 9.4 billion euros. The price range, which translates into a valuation of 70-75 billion euros,…
HAMBURG (Reuters) – Volkswagen is targetting a valuation of 70 billion to 75 billion euros ($70.1-75.1 billion) for luxury sportscar maker Porsche as part of a planned initial public offering (IPO) of the division, a person familiar with the matter said. The pricing range formed the basis for discussions in the supervisory board that were…
