WASHINGTON (Reuters) – The New York Federal Reserve said on Monday its barometer of manufacturing activity in New York State plunged in May, but the survey is extremely volatile, making it harder to interpret. The regional Fed’s “Empire State” index on current business conditions plummeted 42.6 points to -31.8 this month. A reading below zero…
By Dmitry Zhdannikov, Marwa Rashad and Christoph Steitz LONDON/FRANKFURT (Reuters) – German energy firms Sefe and Uniper have awarded some traders millions of dollars in bonuses for 2022, four sources familiar with the matter said, just months after the companies were rescued with multi-billion bailouts as Russia halted gas supplies. Germany has so far provided…
By Maki Shiraki and Makiko Yamazaki TOKYO (Reuters) – Kioxia Holdings Corp and Western Digital Corp are speeding up merger talks and nailing down a deal structure, two sources with direct knowledge of the matter said, as a slumping flash memory market puts fresh consolidation pressure on the world’s No. 2 and No. 4 players….
By Scott Murdoch and Himanshi Akhand (Reuters) -Australia’s InvoCare Ltd shares jumped nearly 12% on Monday after it revealed a higher A$1.86 billion ($1.26 billion) offer from global private equity firm TPG had been tabled just weeks after it rejected a lower bid it said undervalued the funeral services provider. Shares of InvoCare rose to…
By Kannaki Deka (Reuters) – U.S. private equity firm TPG Inc said on Monday it would buy alternative investment firm Angelo Gordon in a deal valued at $2.7 billion as it looks to bolster its credit investing business. Major private equity firms have been expanding beyond their mainstay business as the equity funding market loses steam….
By Blake Brittain WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear Teva Pharmaceuticals USA Inc’s challenge to a $235 million award to GlaxoSmithKline LLC in a patent dispute over generic drugs involving a heart medication. The justices turned away Israel-based Teva’s appeal of a lower court’s ruling reinstating the jury award…
BRUSSELS (Reuters) – Europe is not in danger of a real estate or debt crisis as a result of the rapid rise in European Central Bank interest rates, Economic Commissioner Paolo Gentiloni said on Monday. The ECB has raised rates by a combined 375 basis points since July to curb inflation which hit double digits…
PARIS (Reuters) – Morgan Stanley’s plan to increase headcount in France by 200 by 2025 would bring its total staff in the country to 500, with the new Paris-based bankers mostly devoted to sales and trading of so-called macro products and stock derivatives. Macro products usually refer to the trading of fixed income and currency-related…
By Yadarisa Shabong and Richa Naidu (Reuters) -British American Tobacco appointed finance director Tadeu Marroco as CEO on Monday, succeeding Jack Bowles who is stepping down after about four years. Marroco started working for the tobacco firm in Brazil in 1992 and was appointed to the board in 2019. Bowles, who also joined the board…
By Aditya Samal (Reuters) -Shares of Sarepta Therapeutics jumped 25% on Monday as a backing by the U.S. health regulator’s advisers increased the certainty of an accelerated approval for the company’s gene therapy for a muscle-wasting genetic disorder. The stock was set for its biggest percentage jump in over three years, while the drugmaker’s market…
