By Jonathan Stempel, Dietrich Knauth and Manya Saini NEW YORK (Reuters) -China Evergrande, which is the world’s most heavily indebted property developer and became the poster child for China’s property crisis, on Thursday filed for protection from creditors in a U.S. bankruptcy court. The company sought protection under Chapter 15 of the U.S. bankruptcy code,…
(Reuters) – Government targets to increase wind power installations would see annual capacity additions reach 80 gigawatts (GW) per year by 2030, requiring $100 billion in secured investment in the supply chain by 2026, Wood Mackenzie said in a report. The research and consultancy firm forecast annual capacity is more likely to increase by 30…
By Dietrich Knauth NEW YORK (Reuters) -Trucking firm Estes Express has submitted a $1.3 billion bid to acquire bankrupt Yellow Corp’s shipment centers, attorneys said on Thursday at a U.S. bankruptcy court hearing. Yellow’s attorney Allyson Smith said the Estes proposal was received while Yellow was negotiating several offers for bankruptcy financing. Estes had offered…
By Jaspreet Singh and Max A. Cherney (Reuters) -Semiconductor equipment maker Applied Materials on Thursday forecast its fourth-quarter profit would be substantially higher than analyst estimates, as chip demand picks up and governments spend billions on subsidies. Shares jumped 1.9% in extended trading after the company also posted better-than-expected third-quarter earnings. Governments across the globe…
By Douglas Gillison (Reuters) – Wall Street’s top regulator is set next week to adopt new transparency rules for the $20-trillion private investment fund industry, according to an official notice, acting on a proposal that has drawn sharp industry objections. The five-member U.S. Securities and Exchange Commission is also due to vote on Aug. 23…
(Reuters) – Bitcoin dropped 7.2% to $26,634 at 21:45 GMT on Thursday, losing $2,067 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 16.3% from the year’s high of $31,818 on July 13. Ether, the coin linked to the Ethereum blockchain network, dropped 11.29% to $1,547.4 on Thursday, losing $203.8 from…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. Japanese inflation grabs the Asian economic data spotlight on Friday as investors close out a bruising week marked by a soaring U.S. dollar, rising global bond yields and crumbling equity markets. The gloom enveloping markets…
By Kanishka Singh WASHINGTON (Reuters) -Banking group Citibank was subpoenaed on Thursday by Republican-led U.S. House of Representatives Judiciary Committee Chair Jim Jordan for a congressional probe into alleged data sharing by banks with the FBI. Panels in the Republican-led chamber are probing major banks over sharing Americans’ private financial data with the FBI without…
By Gram Slattery WASHINGTON (Reuters) – Presidential candidate Ron DeSantis should defend former President Donald Trump at the first Republican primary debate on Wednesday and go on the attack against campaign rival Vivek Ramaswamy, the main outside spending group supporting his candidacy wrote in a series of memos. The memos, commissioned by pro-DeSantis group Never…
By Andrew Goudsward (Reuters) – White House counsel Stuart Delery, President Joe Biden’s top lawyer, plans to leave his post next month, the White House said on Thursday, adding no replacement had yet been named. Delery, who has been in the job since July 2022, advised the president on advancing his legislative agenda and defending…
