(Reuters) – Short sellers made $14.3 billion in paper profit from their bearish bets on global banking stocks in March, according to analytics firm S3 Partners, as the collapse of U.S. lender Silicon Valley Bank reverberated across the sector. Fresh short selling in the banking sector increased by 11.4%, or $12.8 billion, globally in March, taking…
By Lena Masri (Reuters) – The founders of artificial intelligence company NtechLab said they resigned over disagreements with the company’s management and investors about projects in Russia. One of the founders left Russia in December 2021 while the other left in March 2022, shortly after Russia’s invasion of Ukraine, they said. The two founders’ comments…
(This March 29 story has been corrected to say ‘latest major videogame publisher’ instead of first in paragraph 1) (Reuters) – Electronic Arts Inc said on Wednesday it would lay off about 6% of its workforce and reduce office space, making it the latest major videogame publisher to announce job cuts. Technology firms have led…
By Ellen Zhang and Marius Zaharia BEIJING/HONG KONG (Reuters) – Some of China’s most indebted local governments are on a hiring spree, a move that analysts say could put fragile regional finances under more strain as officials seek to create jobs for a record number of graduates entering the workforce this year. China’s huge and…
By Tommy Wilkes LONDON (Reuters) – BlackRock’s liability-driven investment business is urging some smaller UK pension fund clients to stop splitting assets across multiple managers, as it tries to cut the complexity and risks of a strategy that imploded last year. Asset managers worry new rules to make LDI investing more robust could render the…
SEOUL (Reuters) -Criteria to qualify for new U.S. semiconductor subsidies could be “burdensome” for companies such as Samsung Electronics Co Ltd and SK Hynix Inc, South Korea’s trade minister said on Thursday. Conditions include sharing excess profit with the U.S. government, and three industry sources said the application process itself could expose confidential corporate strategy….
By Jeslyn Lerh SINGAPORE (Reuters) – Oil was nearly steady on Thursday as a surprise drop in U.S. crude stockpiles offset a smaller-than-expected cut to Russian supplies, while investors closely watched developments on Iraqi Kurdistan oil exports. Brent crude futures fell 5 cents, or 0.1%, to $78.23 a barrel at 0630 GMT, while West Texas…
(Reuters) – Tesla Inc said on Wednesday a $7,500 tax credit in place since January will be reduced for its Model 3 ear-wheel drive by March 31, subject to guidance due this week from the U.S. Treasury Department on the sources of battery components. The Treasury Department is due to issue guidance on sourcing of…
A look at the day ahead in European and global markets from Ankur Banerjee With sentiment still fragile in the aftermath of the banking crisis, a risk-on rally proved short-lived, leaving the MSCI ex-Japan index swinging between gains and losses on Thursday. The dollar firmed up, continuing its rebound, while gold eased. But as we…
By Chris Taylor NEW YORK (Reuters) – Patti Black remembers it like it was yesterday: The conversation no adult child ever wants to have. The financial planner from Birmingham, Alabama, was worried that her elderly father Mack was becoming a danger behind the wheel, thanks to his growing memory problems. So when she and her…
