(Reuters) -KKR & Co said on Friday it would buy chemical maker Chase in an all-cash deal valued at about $1.3 billion including debt, to help the private equity firm bolster its holdings in the specialty chemicals sector. Shares of Chase fell 1.5% in premarket trading. Under the deal terms, KKR will buy all outstanding…
By Ankur Banerjee, Clare Jim and Marc Jones SINGAPORE/HONG KONG/LONDON (Reuters) -China’s property sector crisis escalated again on Friday as a sharp fall in the shares and bonds of one of the country’s biggest developers, Country Garden, capped a turbulent week for the long-troubled sector. News that the firm, which has thousands of projects in…
(Reuters) -Shares of Digital World Acquisition (DWAC) surged 55% on Friday as a settlement with U.S. securities regulator over fraud charges cleared some of the uncertainty over the blank-check firm’s merger with former U.S. President Donald Trump’s media and tech company. The stock’s gain puts it on course for its best day since November last…
By Shubham Kalia and Gokul Pisharody (Reuters) -U.S. prosecutors have accused FTX founder Sam Bankman-Fried of witness tampering and asked a federal judge to issue an order that would bar the former billionaire and other parties from making public statements likely to interfere with a fair trial. The prosecutors wrote to U.S. District Judge Lewis…
By Helen Reid (Reuters) – Shoppers are snapping up Barbie hoop earrings, perfume, jumpsuits, and dresses as retailers seek to cash in on Friday’s Barbie film release, reigniting the craze for the plastic doll and her hot pink, sequin-adorned universe. With many consumers spending less amid a cost of living squeeze, retailers are jumping at…
(Reuters) – Quotes by and about singer Tony Bennett, who has died at the age of 96: BENNETT ON BENNETT * “I have a feel for people. I want people to like me and I get a kick out of making them happy.” – Time magazine in 1964 * “Through song and art, I can…
HONG KONG (Reuters) – China’s two main bourses on Friday issued guidelines for rating the performances of sponsor institutions such as brokerages who help firms list on the exchanges, as part of efforts to battle capital market fraud. Sponsors would be assessed by the “quality” of listed firms they assisted, such as management competency, market…
By Alexander Marrow (Reuters) – The rouble weakened against the dollar on Friday after the Bank of Russia hiked rates by a more-than-expected 100 basis points, pointing to rising inflationary pressures, with risk-off sentiment hitting Russian assets before the weekend. The central bank’s decision to raise its key rate to 8.5% surprised analysts polled by…
By Manya Saini (Reuters) -U.S. banks benefited from higher interest rates in the second-quarter, driving a rally in major indexes, but lower consumer spending, slower loan growth and the increased costs of retaining deposits cloud the outlook for the sector. The results follow a tumultuous first quarter in which Silicon Valley Bank and two other…
By Ju-min Park, Josh Smith and Matt Spetalnick SEOUL/WASHINGTON (Reuters) -U.S. Army Private Travis T. King had finished serving nearly two months in detention in South Korea and was being escorted to the airport to fly home and likely face disciplinary action. But he never made it to his plane. Instead, roughly 24 hours later,…
