By Praveen Menon and Scott Murdoch SYDNEY (Reuters) -GQG Partners Inc founder Rajiv Jain will meet clients and investors in Australia this week, the company said in a statement on Tuesday, and will explain its investment into embattled Indian Adani group. GQG Partners bought shares worth $1.87 billion in four Adani group companies, marking the…
By Blake Brittain (Reuters) – Meta Platforms Inc lost a bid on Monday to end a lawsuit in Boston federal court claiming it stole confidential information from artificial-intelligence startup Neural Magic Inc. Meta will have to face a trial over accusations that it took Neural Magic’s “breakthrough” algorithms that enable AI systems to process information…
(Reuters) – Meta Platforms Inc is planning to cut thousands more jobs as soon as this week in its fresh round of layoffs, Bloomberg News reported on Monday, citing people familiar with the matter. Meta did not respond to Reuters request for a comment outside business hours. (Reporting by Maria Ponnezhath in Bengaluru; Editing by…
By Nichola Groom and Richard Valdmanis (Reuters) -U.S. imports of solar panels are finally picking up after months of gridlock stemming from implementation of a new law banning goods made with forced labor, according to two Chinese solar companies. A White House official confirmed the thaw in shipments at an energy conference on Monday, attributing…
HOUSTON (Reuters) – The global natural gas market has been more fundamentally changed for the long term than the oil market by Russia’s invasion of Ukraine, Chevron Corp Chief Executive Mike Wirth said on Monday. The conflict in Ukraine and ensuing Western sanctions upended global oil and gas markets and disrupted supplies from Russia. Europe…
SYDNEY (Reuters) – Bank of America Chief Executive Officer Brian Moynihan said on Tuesday the U.S. economy would reach a technical recession starting in the third quarter. Moynihan told The Financial Review’s Business Summit in Sydney a U.S. recession would not be deep and the bank forecast interest rates would start falling in the second…
By Liz Hampton and Ron Bousso (Reuters) -U.S. energy executives are set to meet privately with top OPEC officials on Monday for at least the fifth year at a Houston conference, people familiar with the matter said, as the former rivals have become joint beneficiaries of enormous global demand for their oil and gas. The…
By John McCrank NEW YORK (Reuters) -The New York Stock Exchange teamed up with retail broker Charles Schwab Corp and market maker Citadel Securities on Monday to ask the U.S. Securities and Exchange Commission to withdraw two recently proposed rules aimed at revamping how stocks trade. The move represents a coordinated industry push back against…
(Reuters) – Trading in new near-dated U.S. options contracts can supercharge volatility in U.S. stocks, potentially leading to tremendous intraday declines, analysts at JPMorgan said. The U.S. equity options market has seen a rise in the trading of options contracts set to expire at the end of the trading day – dubbed 0DTE (zero day…
By Diane Bartz and David Shepardson WASHINGTON (Reuters) -JetBlue Airways Corp said on Monday it believes there is a “high likelihood” the U.S. Justice Department will file an antitrust lawsuit this week to block its $3.8 billion takeover of low-cost rival Spirit Airlines Inc. JetBlue said in a statement that it accounted for the possibility…
