By Arathy Somasekhar (Reuters) – Oil prices held their ground on Wednesday after tumbling in the previous session as markets braced for minutes from the U.S. Federal Reserve’s December policy meeting. The Fed raised interest rates by 50 basis points (bps) in December after four consecutive increases of 75 bps each. If the Fed intensifies…
By David French and Shariq Khan (Reuters) -A unit of Tokyo Gas Co Ltd is in advanced talks to buy U.S. natural gas producer Rockcliff Energy from private equity firm Quantum Energy Partners for about $4.6 billion, including debt, people familiar with the matter said on Tuesday. If consummated, the deal would be the latest…
(Refiles to fix typos in paragraphs 2 and 4) NEW YORK (Reuters) -D.E. Shaw’s largest hedge fund gained 24.7% last year after fees, outperforming average gains for the industry in a high-volatility environment, according to a source familiar with the matter. D.E. Shaw, one of the industry’s biggest managers, saw gains in its D.E. Shaw…
(Reuters) – Carnival Corp and Royal Caribbean Cruises on Tuesday said they would appeal a U.S. court ruling ordering them and two other cruise operators to pay $110 million each in damages for use of a port that Cuba’s government confiscated in 1960. U.S. District Judge Beth Bloom in Miami ruled last week to award…
(Reuters) – The head of Goldman Sachs Group Inc’s direct-to-consumer unit, Swati Bhatia, is stepping down from the role, according to an internal note seen by Reuters. Bhatia, a former PayPal executive, will retire from the partnership and become an advisory director, the note said. The move comes as Goldman Sachs in October signaled it…
By Aditya Soni and Eva Mathews (Reuters) -Tesla Inc shares kicked off 2023 with a thud, plunging more than 12% on Tuesday on growing worries about weakening demand and logistical problems that have hampered deliveries for the world’s most valuable automaker. Once worth more than $1 trillion, Tesla lost more than 65% in market value…
By Chibuike Oguh (Reuters) -Blackstone Inc on Tuesday said it had secured a $4 billion investment from the University of California in its unlisted real estate income trust (BREIT) that has been plagued by investor redemptions, after the private equity firm committed $1 billion to backstop the university’s returns in the fund. In an unprecedented…
By Jack Queen and Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried pleaded not guilty on Tuesday to criminal charges that he cheated investors in his now-bankrupt FTX cryptocurrency exchange, causing billions of dollars in losses in what prosecutors have called an epic fraud. The 30-year-old defendant entered his plea through his lawyer to eight criminal…
(Reuters) -Chipmaker Nvidia Corp and electronics manufacturer Foxconn announced a partnership on Tuesday to develop autonomous vehicle platforms. Taiwanese contract manufacturer Foxconn said it will manufacture electronic control units (ECUs) for cars based on Nvidia’s DRIVE Orin chip made specifically for computing in connected and autonomous vehicles. The ECUs will serve the global automotive market,…
(Reuters) – Apple Inc’s market capitalization slipped below $2 trillion on the first trading of 2023 as its stock fell nearly 4% following a rating downgrade due to production disruption in China. Apple was the first company to hit $3 trillion in market value on Jan. 3 last year. Exane BNP Paribas analyst Jerome Ramel…
