By Foo Yun Chee BRUSSELS (Reuters) – U.S. chipmaker Broadcom secured EU antitrust approval on Wednesday for its $61 billion proposed acquisition of cloud computing firm VMware after offering remedies to help rival Marvell Technology. The deal, Broadcom’s largest ever, will help the chipmaker diversify into enterprise software. Broadcom offered Marvell and other rivals interoperability…
By Jorgelina do Rosario LONDON (Reuters) -Global public debt surged to a record $92 trillion in 2022 as governments borrowed to counter crises, such as the COVID-19 pandemic, with the burden being felt acutely by developing countries, a United Nations report said. Domestic and external debt worldwide has increased more than five times in the…
By Richa Naidu and Jessica DiNapoli LONDON/NEW YORK (Reuters) -Top U.S. and European investors are flagging their concerns about high prices to consumer goods companies, with Janus Henderson going so far as to cut some stakes it holds and shorting food makers it believes are at risk of losing customers. The industry, which is due…
By David Carnevali and Svea Herbst-Bayliss NEW YORK (Reuters) – Morgan Stanley has hired veteran investment banker Daniel Cohen from Truist Financial Corp, where he was the head of the firm’s healthcare services advisory business, a person familiar with the matter said on Wednesday. In his new role, Cohen will continue to focus on dealmaking…
By Shankar Ramakrishnan and Matt Tracy (Reuters) – Banks are showing a growing willingness to rework the terms of U.S. commercial real estate loans to prevent defaults, mitigating near-term losses but also masking growing stress in some parts of the market. As U.S. commercial real estate has come under pressure, with offices and retail struggling…
By William Schomberg LONDON (Reuters) – Britain’s economy is showing some signs of strain from the Bank of England’s 13 back-to-back interest rate increases, but the jobs market is still generating inflationary heat and consumers have not reined in their spending sharply. The BoE is expected to keep on raising borrowing costs as it tries…
(Reuters) – Elle Solomina is 36, but she says her life truly began in 2021, when she changed her gender to female in her official Russian identification documents. The IT worker is now watching the path she took to self-acceptance crumble, as Russia is poised to outlaw gender changes in IDs and gender-affirming medical care,…
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…
