By David Randall NEW YORK (Reuters) – The flagship fund of star stockpicker Cathie Wood hit an 11-month high Wednesday, extending a rally that has been powered by bets that inflation would fall rapidly and benefit the sort of speculative technology stocks she is known for. The $8.4 billion ARK Innovation ETF rose 0.6% in…
MADRID (Reuters) – Amancio Ortega, the founder of Zara-owner Inditex, has bought a warehouse in Los Angeles for $109 million as part of a continued drive to invest in logistics real estate in the U.S., his investment firm Pontegadea said on Wednesday. Ortega, Inditex’s main shareholder, bought the 340,120 square-feet (31,600 square metres) building in…
By Rajesh Kumar Singh CHICAGO (Reuters) -Relentless travel demand has sent bookings at U.S. carriers soaring, translating into bumper earnings. However, their shares have not shown the same trajectory as questions linger about the sustainability of consumer spending. Airline shares have suffered because of bearish sentiment about the broader economy as interest rates are up…
SAO PAULO (Reuters) – Brazilian airline Azul announced on Wednesday it is launching a public offering of senior secured notes due 2028, fulfilling its pledge to raise additional capital as it moves forward with a broader restructuring plan. Azul, Brazil’s largest airline in number of flights and cities served, said in a statement it will…
By Abigail Summerville NEW YORK (Reuters) – The private equity owner of Benihana Inc is exploring a sale that could value the U.S. restaurant chain, known for its Japanese teppanyaki and sushi, at around $600 million or more, including debt, according to people familiar with the matter. The potential sale comes after Cava Group Inc’s…
(Reuters) – The credit ratings of global property insurers are coming under pressure as rising reinsurance costs force them to cut back on cover and retain more risks themselves, DBRS Morningstar analysts said in a research note on Wednesday. Reinsurers, which insure insurance companies, have been raising rates in recent years due to growing losses…
OTTAWA, July 12 (Reuters)-The Bank of Canada (BoC) on Wednesday raised its growth forecast for this year to 1.8%, up from the 1.4% predicted in April, as excess demand continues feed underlying inflation, which is coming down more slowly than had been previously estimated. In its quarterly Monetary Policy Report, the BoC said inflation would…
By Diane Bartz WASHINGTON (Reuters) -Microsoft cleared major hurdles to its plan to buy videogame maker Activision Blizzard on Tuesday, after a U.S. judge gave a thumbs-up to the $69 billion deal and a British regulator suggested it could reconsider its opposition. Activision shares surged 10% on the day, as the U.S. and Britain have…
(Reuters) – U.S. financial regulators should take steps to ensure banks can withstand further interest-rate hikes should the Federal Reserve need to deliver them to fight entrenched inflation, Minneapolis Fed President Neel Kashkari said on Wednesday. The failure of several large regional banks in the spring highlighted what can happen when banks are poorly positioned…
By Michal Aleksandrowicz (Reuters) -French defence and technology group Thales said on Wednesday it was in exclusive talks to buy aerospace supplier Cobham Aerospace Communications for $1.1 billion, pushing Thales shares up more than 3% as it bets on connected cockpits. The world’s third-largest producer of avionics for civil jetliners said the all-cash acquisition would…
