By Aditya Soni and Akash Sriram (Reuters) -U.S. electric-vehicle startups saw massive weekly gains on Friday after a searing rally in their shares over the past few sessions nearly doubled the value of companies such as Nikola. The surge in EV stocks has come without any apparent news or catalyst for the companies, leading several…
(Reuters) – Insurance broker Acrisure has begun interviewing banks for an initial public offering next year which could fetch it a valuation of over $20 billion, a source familiar with the matter told Reuters on Friday. The Michigan-based company was valued at $23 billion after a private funding round last year. Public markets are seeing…
By Lewis Krauskopf and Amanda Cooper NEW YORK/LONDON (Reuters) – A gauge of global stock markets took a breather on Friday after a run to 14-month highs, while the U.S. dollar headed for its biggest weekly slide since January following a heavy week of central bank meetings around the world. The MSCI All-World index edged…
By Stephanie Kelly NEW YORK (Reuters) -Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices, despite expected weakness in the global economy and the prospect for further interest rate hikes. Brent crude gained 94 cents to settle at $76.61 a barrel. U.S. West Texas Intermediate…
By Alvise Armellini, Giuseppe Fonte and Giulio Piovaccari ROME (Reuters) -Italy’s government said on Friday it had taken steps to limit the influence of China’s Sinochem on tyremaker Pirelli, including a mandatory qualified majority for strategic decisions made by the company’s board. Rome’s decision comes after Sinochem, Pirelli’s largest shareholder with a 37% stake, notified…
By Chris Prentice NEW YORK (Reuters) – A top U.S. Securities and Exchange Commission (SEC) official on Friday rejected criticism of the regulator’s cryptocurrency crackdown and slammed the sector for violating securities laws. The regulator’s heightened scrutiny of crypto firms comes in response to the industry’s failure to comply with the agency’s regulations, SEC enforcement…
By Gertrude Chavez-Dreyfuss LONDON/NEW YORK (Reuters) – The yen plunged to a 15-year low against the euro on Friday after the Bank of Japan (BOJ) kept its ultra-low interest rate policy and forecast that inflation will slow later this year, in contrast with the European Central Bank’s (ECB) rate hike on Thursday. The Japanese unit…
By David Lawder WASHINGTON (Reuters) – The U.S. Treasury on Friday said it found that no major U.S. trading partners had manipulated their currencies for an export advantage, adding it ended “enhanced analysis” for Switzerland after the country met only one of three manipulation criteria. In its semi-annual currency report, the Treasury said that Switzerland…
(Reuters) – President Vladimir Putin said this month that Russia was considering withdrawing from the Black Sea grain deal as he accused the West of cheating Moscow because it still faced obstacles getting its own agricultural goods to world markets. Putin said he would discuss the future of the grain deal with visiting African leaders…
By Kanishka Singh WASHINGTON (Reuters) -U.S. rights groups plan protests next week against Indian Prime Minister Narendra Modi’s state visit to Washington over what they call India’s deteriorating human rights record, even though experts do not expect Washington to be publicly critical of New Delhi. The Indian American Muslim Council, Peace Action, Veterans for Peace…
