By Sinéad Carew and Johann M Cherian (Reuters) – The S&P 500 and the Nasdaq closed sharply higher on Wednesday after Federal Reserve chair Jerome Powell acknowledged that inflation was starting to ease, in remarks he made following a quarter-point rate hike by the U.S. central bank. Wall Street’s major indexes had lost ground immediately…
By David French and Andres Gonzalez (Reuters) – Grupo Mexico, the conglomerate controlled by billionaire German Larrea, has secured a $5 billion debt package for its proposed acquisition of Citigroup Inc’s retail operations in Mexico, according to people familiar with the matter. The move represents a major milestone in Grupo Mexico’s efforts to put together…
By Aditya Kalra, Jayshree P Upadhyay and Aditi Shah NEW DELHI (Reuters) -Gautam Adani’s flagship firm called off its $2.5 billion share sale in a dramatic reversal on Wednesday as a rout sparked by a U.S. short-seller’s criticisms wiped billions more off the value of the Indian tycoon’s stocks. The withdrawal of the Adani Enterprises…
By Natalie Grover and Maggie Fick LONDON (Reuters) – GSK chief executive Emma Walmsley on Wednesday made replenishing the drugmaker’s pipeline of vaccines and therapies her number-one priority. But analysts were disappointed she did not give more details on how she and her management team plan to find the company’s next set of blockbuster drugs….
By Chibuike Oguh (Reuters) -Blackstone Inc said on Wednesday it had blocked withdrawals from its $69 billion real estate income trust (BREIT) in January, as the private equity firm faced a surge in redemption requests from investors looking to cash out. BREIT said it fulfilled redemption requests of about $1.3 billion in January, representing 25%…
By Nivedita Balu and Akash Sriram (Reuters) – Apple Inc is expected to report its first decline in quarterly revenue in nearly four years after strict COVID-19 curbs in China rapped the economy and related protests upended iPhone production at its biggest supplier Foxconn. Investors will look for details on how Chief Executive Tim Cook…
MEXICO CITY (Reuters) – The Mexican government and some airlines have reached an agreement to move cargo operations to a new airport on the outskirts of Mexico City to ease congestion at its main hub, President Andres Manuel Lopez Obrador said on Wednesday. Lopez Obrador said earlier this month cargo flights would be moved due…
PARIS (Reuters) – Hopes are rising of a deal between Airbus and Qatar Airways as early as Wednesday to avert an unprecedented trial over the safety of the A350 jetliner and billions of dollars of cancelled orders, two people familiar with the matter said. The two companies have narrowed differences over damage to more than…
By Hyunjoo Jin and Jody Godoy (Reuters) – Tesla Inc board members are expected to take the stand on Wednesday to defend against claims that Elon Musk misled investors when he tweeted in 2018 he had “funding secured” to take the company private. The trial in San Francisco federal court is testing whether the world’s…
By Philip Blenkinsop BRUSSELS (Reuters) – The European Commission proposed a plan on Wednesday to try to ensure Europe can compete with the United States as a manufacturing hub for electric vehicles and other green products and reduce its dependence on China. Commission President Ursula von der Leyen announced a loosening of EU state aid…
