By Manya Saini, Niket Nishant and Echo Wang (Reuters) -Shares in SoftBank’s Arm Holdings soared almost 25% above their Nasdaq debut price on Thursday, rekindling investor hopes for a turnaround in the moribund market for initial public offerings (IPO). The stock, which had opened at $56.10, notched a 24.68% gain to close at $63.59, giving…
By Stephen Culp NEW YORK (Reuters) – U.S. stocks ended sharply higher and the greenback jumped on Thursday as robust economic data failed to budge expectations that the Federal Reserve will leave its key interest rate unchanged next week. The rally boosted a broad array of assets. All three major stock indexes ended higher, as…
Gold prices remained steady near a three-week low on Thursday, as the latest data on U.S. producer prices and retail sales sparked concerns about the prolonged period of higher U.S. interest rates. This scenario had a ripple effect, boosting the value of the dollar and bond yields. Around 1:47 p.m. EDT (1747 GMT), spot gold…
By Huw Jones LONDON (Reuters) – This year’s bank turmoil showed some boards and senior management failed in their most basic responsibilities and more regulatory guidance may be needed, a global watchdog said. A handful of banks with more than $1 trillion in assets, including Credit Suisse and Silicon Valley Bank, either collapsed or were…
By Dmitry Zhdannikov and Ron Bousso LONDON (Reuters) -BP CEO Bernard Looney’s abrupt resignation has thrown the British oil major into a leadership crisis with no groomed front-runner to succeed him, company and industry sources said on Wednesday. Several current and former BP insiders were seen as potential candidates to succeed Looney, who resigned as…
