By Jonathan Saul, Carolyn Cohn, Christoph Steitz and John O’Donnell LONDON/FRANKFURT (Reuters) – German insurers Allianz and Munich Re have renewed cover for the damaged Russia-controlled Nord Stream 1 gas pipeline, five sources with knowledge of the matter said, indicating that its revival has not been ruled out after an alleged sabotage attack. Insurance by…
By Kevin Buckland A look at the day ahead in European and global markets from Kevin Buckland Asian investors continued to weigh the impact of OPEC+’s surprise weekend decision to cut output, including what it means for bets that the Federal Reserve would turn less hawkish amid cooling inflation and a slowing economy. Energy shares…
By Toby Sterling AMSTERDAM (Reuters) – Bunq BV, a prominent European online banking start-up, formally filed for a banking licence with U.S. regulators on Tuesday, the company’s CEO told Reuters in an interview. Ali Niknam, the Canadian-Dutch entrepreneur who founded Bunq in 2012, said his bank is attracting depositors in Europe despite jitters following the…
By Julie Zhu HONG KONG (Reuters) – Asian stocks dithered on Tuesday as investors grappled with inflation concerns in the wake of the surprise cuts to the OPEC+ group’s oil output targets, while treasury yields retreated after frail U.S. manufacturing sector data. An announcement on Sunday of output target cuts by the Organization of the…
By Rae Wee SINGAPORE (Reuters) – The dollar wobbled on Tuesday after a slump in U.S. manufacturing activity last month pointed to further signs of a slowing economy and trumped renewed inflation concerns following OPEC+’s surprise output cut. The Institute for Supply Management (ISM) survey showed on Monday that manufacturing activity fell to the lowest…
By Stephen Nellis (Reuters) – Micron Technology Inc on Monday said that its business operations in China are normal while it is cooperating with a Chinese government cybersecurity review of its products. “Micron’s product shipments, engineering, manufacturing, sales and other functions are operating as normal,” the company said in a statement. Last week, the Cyberspace…
By Daniel Wiessner (Reuters) – A federal jury on Monday ordered Tesla Inc to pay about $3.2 million to a Black former factory worker who won a lawsuit accusing the electric car maker of tolerating severe racial harassment at its flagship Fremont, California, assembly plant. The case is one of several involving working conditions at…
By Jonathan Stempel (Reuters) -A Delaware judge on Monday dismissed Merck & Co’s lawsuit seeking to hold Bayer AG responsible for more talc-related liabilities stemming from its $14.2 billion purchase of Merck’s consumer care business in 2014. Vice Chancellor Nathan Cook of the Delaware Chancery Court said the purchase agreement “clearly and unambiguously” left Merck…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Australia’s central bank takes center stage on Tuesday with its latest interest rate decision, and beyond that, if the second trading day of the quarter is as eventful as the first, then investors’ plates will be extra full….
By Daniel Wiessner (Reuters) – A federal jury in San Francisco on Monday ordered Tesla Inc to pay about $3.2 million to a Black former employee after the electric-vehicle maker was found to have failed to prevent severe racial harassment at its flagship assembly plant in California. (Reporting by Daniel Wiessner in Albany, New York)