By Ricardo Brito and Anthony Boadle BRASILIA (Reuters) -Former Brazilian President Jair Bolsonaro faced mounting legal pressure on Friday, as police probed his personal finances and communications while a jailed former aide mulled testifying about his role in a Rolex-peddling scheme allegedly masterminded by the ex-president. Bolsonaro, a far-right former army captain, narrowly missed re-election…
By Medha Singh (Reuters) -VinFast shares slumped for a third straight session on Friday, with the Vietnamese electric automaker now losing more than half of its market value since its blowout Nasdaq listing this week. The cash-burning company was last valued at $35 billion, down from $85 billion in its Wall Street debut on Tuesday….
(Reuters) -Bank credit at U.S. commercial banks shrank in the latest week as commercial banks pulled back on lending to businesses, data published by the Federal Reserve showed on Friday. Overall bank credit fell to $17.23 trillion in the week ending Aug. 9, down from $17.25 trillion a week earlier and $17.32 trillion a year…
By Valerie Insinna and Tim Hepher WASHINGTON (Reuters) – JetZero, which has won U.S. Air Force backing to build a demonstrator for a futuristic aircraft, expects a projected 50% cut in fuel consumption to open the doors of the airline industry as well the Pentagon, its chief executive said. The U.S. Air Force on Wednesday…
Mickey Mouse Takes Aim at Republican Candidate Ron DeSantis Recent developments have thrust Republican contender Ron DeSantis into an unexpected legal tussle with an iconic media giant. DeSantis, whose victorious 2018 Florida gubernatorial campaign was underscored by the rallying cry “Run With Ron,” now faces a legal challenge from the Walt Disney Co (NYSE:DIS). The…
By Anirban Sen and Manya Saini (Reuters) – SoftBank Group Corp’s Arm Ltd is expected to report a revenue decline of about 1% in the year ended March, when the chip designer reveals its initial public offering (IPO) filing on Monday, according to a person familiar with the matter. Arm’s sales fell to $2.68 billion…
By Alexandra Valencia QUITO (Reuters) -The murder of Ecuadorean presidential hopeful Fernando Villavicencio has led to a frenzy of speculation from politicians across the spectrum, including from allies who were with him in the moments before he died, about why he was killed and why he was not better protected. Villavicencio, who was gunned down…
By Pete Schroeder WASHINGTON (Reuters) -Wall Street ended mixed Friday and U.S. Treasury yields stabilized after a recent surge and as investors awaited further interest rate insight from the Federal Reserve next week. Global shares were stuck around two-month lows and Wall Street indexes closed nearly flat and narrowly mixed. The Dow Jones Industrial Average…
By Amy-Jo Crowley, Emma-Victoria Farr and Milana Vinn LONDON/FRANKFURT/NEW YORK (Reuters) -Dalian Wanda Group, owned by China’s once-richest man Wang Jianlin, is seeking to sell its sports marketing unit Infront as financial pressure mounts on the property developer to shore up its finances, four people familiar with the matter told Reuters. China’s largest commercial property…
By Saqib Iqbal Ahmed and Laura Matthews NEW YORK (Reuters) – More than two years since a breathtaking surge in shares of GameStop captivated Wall Street, the meme stock phenomenon continues to defy predictions of its demise. Yet the retail investors who have driven past meme stock moves appear to have become more cautious after…
