LONDON (Reuters) – Asset manager Just Climate said on Thursday it had raised $1.5 billion for its inaugural fund after strong demand from institutional clients including Microsoft’s Climate Innovation Fund helped it beat the original target of $1 billion. Established by Generation Investment Management, Just Climate aims to focus investment on the sectors where cutting…
By Yantoultra Ngui and Kane Wu SINGAPORE/HONG KONG (Reuters) – Japanese insurer Tokio Marine Holdings has picked Goldman Sachs and Jefferies to work on the sale of its Southeast Asia life insurance business worth $1 billion, two sources with knowledge of the transaction said. The Tokyo-listed company is preparing to launch a sale process within…
WASHINGTON (Reuters) – U.S. wholesale inventories fell a bit less in April than initially estimated, which could provide a lift to economic growth in the second quarter. The Commerce Department said on Thursday that wholesale inventories slipped 0.1% instead of falling 0.2% as previously reported last month. Stocks at wholesalers dropped 0.2% in March. Economists…
WASHINGTON (Reuters) – U.S. wholesale inventories fell a bit less in April than initially estimated, which could provide a lift to economic growth in the second quarter. The Commerce Department said on Thursday that wholesale inventories slipped 0.1% instead of falling 0.2% as previously reported last month. Stocks at wholesalers dropped 0.2% in March. Economists…
By Samrhitha A and Svea Herbst-Bayliss (Reuters) – Ryan Cohen, the billionaire investor whose bold bet on GameStop Corp made him a hero to meme stock traders, took over as executive chairman on Wednesday after the video game retailer ousted its CEO and posted a bigger-than expected quarterly loss. Investors pushed the stock price down…
MADRID (Reuters) -U.S. electric car manufacturer Tesla is in talks with the leaders of the regional government of Valencia in Spain to make an automotive investment, a source close to the discussions has told Reuters. A spokesperson for Valencia’s regional government told Reuters it had held meetings and conversations with an unidentified company about a…
By Philip Blenkinsop BRUSSELS (Reuters) -The euro zone economy fell into a technical recession in the first three months of 2023, data from statistics agency Eurostat showed on Thursday as signs emerge that central bank rate hikes will crimp the region’s future growth prospects. Gross domestic product (GDP) for the 20-country euro zone fell by…
By Joseph Ax (Reuters) – Pat Robertson, the televangelist who helped turn Christian conservatives into a potent force in U.S. politics, died at age 93 at his Virginia home, the Christian Broadcasting Network said in a statement on Thursday. Robertson founded the network in 1960 and hosted the flagship program “The 700 Club” for decades,…
LONDON (Reuters) -Global payments processors Visa and Mastercard have fought off a new set of lawsuits over fees charged to retailers, with a London tribunal ruling on Thursday that the proposed collective cases cannot proceed for now. The two firms already face a long list of lawsuits in London over so-called multilateral interchange fees, which…
By Asif Shahzad ISLAMABAD (Reuters) -Pakistan’s ousted former prime minister Imran Khan secured bail on Thursday from the Islamabad High Court over new murder charges, meaning he cannot be rearrested in connection with those charges for the next 14 days, his lawyer said. Khan was arrested on May 9 and held for three days, triggering…
