By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) – KKR is open to leaving Italy in full control of Telecom Italia’s (TIM) submarine cable unit as part of the U.S. fund’s efforts to secure government blessing to take over the phone group’s grid, two sources close to the matter said. The future of Sparkle, TIM’s…
By Nell Mackenzie LONDON (Reuters) – Billionaire investor Daniel Loeb has reduced the size of short bets on single named companies to limit the vulnerability of his hedge fund, Third Point, to short squeezes, he said in a letter on Tuesday. “The short-selling environment is much more challenging than it has been historically,” said Loeb…
By Joseph White DETROIT (Reuters) – Ford said Tuesday it has restarted assembly of its F-150 Lightning electric truck and is now driving to triple the production rate, setting up a multibillion-dollar test of whether mainstream U.S. truck buyers are ready to switch to an EV. Ford officials said Tuesday the Dearborn, Michigan, assembly operation…
DUBLIN (Reuters) – Meta intends to ask users in the European Union for their consent before allowing businesses to target advertising based on what they view on its services such as Facebook and Instagram, the social media giant said on Tuesday. Meta said the change is to address a number of evolving regulatory requirements in…
By Lawrence White and Selena Li LONDON/HONG KONG (Reuters) -HSBC Holdings raised its key profitability target and announced a fresh $2 billion share buyback on Tuesday, as rising central bank interest rates worldwide helped it more than double its income for the first half of the year. That helped the bank raise its near-term return…
By Eric Onstad LONDON (Reuters) – The price of uranium has risen only slightly since a military coup in Niger last week as mining operations have continued in the world’s seventh largest producer of the radioactive metal, but a consultancy said prices may rise in coming weeks. The spot price of uranium, widely used for…
By Fergal Smith TORONTO (Reuters) – Canada’s manufacturing sector contracted for the third straight month in July as an uncertain economic outlook held back new orders, offsetting a pickup in production, data showed on Tuesday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) rose to a seasonally adjusted 49.6 in July from 48.8 in…
SAO PAULO (Reuters) – Industrial production in Brazil surprised economists with a small increase in June, but the positive figures are unlikely to prevent the central bank from kicking off a monetary easing cycle later this week. In Latin America’s largest economy, industrial output was up 0.1% in June from May, data from statistics agency…
By Naveen Thukral SINGAPORE (Reuters) – Rice exporters in Thailand and Vietnam are re-negotiating prices on sales contracts for around half a million metric tons for August shipments, two trade sources said, as India’s ban has tightened global supplies. Exporters are rushing to cover rice supplies from farmers who have raised prices following a surge…
(Reuters) – Food distributor Sysco Corp missed Wall Street expectations for quarterly sales on Tuesday, as inflation-hit consumers restrict discretionary spending on products such as custom cuts of meat and seafood. Surging inflation has begun to eat into consumers’ disposable income, forcing shoppers to prioritize spending on necessities, making little room for demand for non-essential…
