(Reuters) -Private equity firms Accel and Tiger Global, two early backers of Indian e-commerce firm Flipkart, are in talks to sell their remaining stake in the company to parent Walmart Inc for about $1.5 billion, the Economic Times reported on Thursday. The stake, which collectively amounts to about 5%, would raise Walmart’s ownership in the…
By Ankur Banerjee SINGAPORE (Reuters) – Asian equities rose to a fresh seven-month high on Thursday, with Hong Kong shares playing catch-up to other markets’ gains as trade resumed after its three-day Lunar New Holiday. MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.56% to 555.81. Hong Kong’s Hang Seng index was 1.6% higher….
By Laila Kearney (Reuters) – Oil prices were up in early Asian trade on Thursday as U.S. crude stocks rose less than expected, while a weaker dollar made oil cheaper for non-American buyers. Brent crude futures had risen 12 cents to $86.24 per barrel by 0119 GMT, while U.S. West Texas Intermediate (WTI) crude futures…
By Jihoon Lee and Choonsik Yoo SEOUL (Reuters) – South Korea’s government promised strong support for exporters after the country posted on Thursday its first economic contraction in 2/1-2 years due mainly to a crash in exports. Playing down the economic slowdown as part of a global trend, Finance Minister Choo Kyung-ho pledged prompt support…
By David Shepardson WASHINGTON (Reuters) – Two senior Biden administration officials got behind the wheel of new electric vehicles (EV) Wednesday at the Washington, D.C. auto show to urge Americans to consider buying a zero-emission model. Energy Secretary Jennifer Granholm and White House climate adviser Ali Zaidi took spins in a Ford F-150 Lightning and…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. South Korea and the Philippines’ GDP data are on the Asian data docket for investors on Thursday, as the upbeat mood that has propelled global stocks and risk assets higher this year shows signs of fading. Some gloomy…
By Herbert Lash NEW YORK (Reuters) -A gauge of global equity markets slid from five-month highs on Wednesday as poor corporate results fueled recession fears, as did the ongoing inversion of short- and long-dated Treasury yields – a harbinger of economic downturns. But main indexes on Wall Street sharply pared losses, suggesting that many believe…
By David Randall NEW YORK (Reuters) – Some of Wall Street’s biggest names are throwing cold water on expectations that the U.S. economy will scrape through 2023 without a recession, even as hopes of easing inflation and resilient growth propel stocks higher. Banks and asset managers that have reiterated recession calls include BlackRock, Wells Fargo…
(Reuters) -E-cigarette maker Juul Labs Inc is in early talks with three tobacco giants for a potential sale, strategic investment, licensing or distribution deal, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The company, which was reportedly looking to file for Chapter 11 bankruptcy, have had separate discussions with Philip…
By Laura Sanicola (Reuters) – U.S. crude inventories rose last week as demand for fuels tapered off, and while the increase was less than expected, crude stocks reached the highest level since June 2021, the Energy Information Administration (EIA) said on Wednesday. Crude inventories rose by 533,000 barrels in the last week to…
