By Caroline Valetkevitch NEW YORK (Reuters) – World stock indexes fell while the benchmark U.S. Treasury yield rose and the U.S. dollar hit its highest in six months on Wednesday after stronger-than-expected U.S. services sector data suggested inflation pressures remain. Weighing heavily on Wall Street stock indexes, shares of Apple fell 3.6% after the Wall…
By Akash Sriram (Reuters) -GameStop on Wednesday beat Wall Street estimates for quarterly revenue and posted a smaller-than-expected loss, buoyed by strong demand for videogames, collectibles and consoles. The company’s shares rose nearly 6% in extended trading as the results indicated that efforts to boost its digital presence were paying off. Executive chairman and top…
The electric vehicle revolution is undeniably underway, but it’s no cakewalk, even for German automakers who once led the automotive world in design and cutting-edge tech. The IAA motor show kicked off in Munich, shifting the spotlight away from Mercedes Benz and Porsche to Tesla Inc, which is unveiling an enhanced version of its top-selling…
By Supantha Mukherjee and Martin Coulter (Reuters) -The European Union has picked out 22 so-called “gatekeeper” services, run by six of the biggest tech companies in the world, to face new rules as part of its latest crackdown on Big Tech. The wide-ranging Digital Markets Act (DMA) will apply to services from Alphabet , Amazon,…
By Fabian Cambero SANTIAGO (Reuters) -Chile’s Codelco raised $2 billion in a bond offering in New York on Tuesday, as the world’s top copper producer seeks to fund an investment drive to revive flagging output. The company offered 10-year and 30-year notes. The 10-year was for $1.3 billion with a yield of 5.966%, or 210…
Softbank’s Arm is gearing up for a highly anticipated public debut next week, set to become the year’s largest IPO. Jim Cramer voiced his enthusiastic support for the company, predicting an overwhelming demand for its chip designs. Here’s what you need to know: Arm is eyeing a valuation close to $54 billion for its forthcoming…
By Echo Wang and Anirban Sen NEW YORK (Reuters) -Arm Holdings Ltd, the chip designer owned by SoftBank Group Corp, began its marketing road show for its blockbuster initial public offering on Tuesday in Baltimore, where T. Rowe Price is headquartered, underscoring the fund manager’s significance as a potential investor. Arm is also meeting with…
By Shariq Khan BENGALURU (Reuters) – Oil prices rose a dollar a barrel on Tuesday to their highest since November, after Saudi Arabia and Russia extended their voluntary supply cuts to the end of the year, worrying investors about potential shortages during peak winter demand. Brent crude futures rose by $1.04, or 1.2%, to settle…
By Matt Tracy and Davide Barbuscia (Reuters) – A post Labor-day rush of bond issuance by U.S. investment-grade-rated companies added renewed pressure on long-end U.S. Treasuries, as some investors switch to buying top-rated corporate debt offering higher yields than those on government bonds. At least 21 investment-grade rated bond offerings are expected to price on…
By Karin Strohecker and Vincent Flasseur LONDON (Reuters) -Central banks across major developed and emerging economies took a breather in August with the pace and scale of interest rate hikes shifting another gear lower as diverging growth outlooks and inflation risks muddied the outlook ahead. August – often a more quiet month for monetary policy…
