WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear a bid by Apple Inc and Broadcom Inc to revive their challenges to Caltech data-transmission patents in a patent infringement case in which the university’s earlier $1.1 billion jury verdict against the companies was thrown out. The justices turned away an appeal by…
By Aniruddha Ghosh (Reuters) – A blistering rally in Tesla Inc shares has powered the EV maker’s market value toward trillion-dollar levels, prompting some analysts to question its valuation and downgrade the stock. Goldman Sachs on Monday cut Tesla to “hold” equivalent rating, joining Morgan Stanley and Barclays, which downgraded the stock last week. The…
By Muyu Xu and Emily Chow KUALA LUMPUR (Reuters) -Saudi Aramco believes market fundamentals remain “sound” for the second half as demand from emerging markets led by China and India will offset recession risk in developed markets, CEO Amin Nasser told an industry gathering on Monday. But other executives at the Energy Asia conference in…
(Reuters) – Private-equity firm Ares Management said on Monday it had acquired a $3.5 billion specialty finance loan portfolio from PacWest Bancorp. Over the past month, PacWest has also sold its real estate lending unit and a huge chunk of its real estate loans. Shares of the bank were up 2.4% at $7.23 in premarket…
(Reuters) – Workers at Amazon’s warehouses in Germany’s eastern city of Leipzig started a 48-hour strike on Monday to press for higher wages, the country’s public sector union ver.di said. The workers want a collective labour agreement that includes a 2.5 euro ($2.73) per hour wage increase for a 12-month period, a 250-euro wage hike…
By Lewis Jackson and Scott Murdoch SYDNEY (Reuters) – PricewaterhouseCoopers (PwC) Australia has moved to contain the fallout from a scandal over the misuse of confidential government tax plans by selling its government consulting unit to Allegro Funds and flying in an executive from Singapore to lead the local firm. Here is what you need…
LONDON (Reuters) – Global energy demand rose 1% last year and record renewables growth did nothing to shift the dominance of fossil fuels, which still accounted for 82% of supply, the industry’s Statistical Review of World Energy report said on Monday. Last year was marked by turmoil in the energy markets after Russia’s invasion of…
By Rae Wee SINGAPORE (Reuters) – The dollar was on the back foot on Monday, though it found some safe haven support on lingering worries that the protracted monetary tightening cycles from major central banks would further hurt the global economic outlook. Dramatic weekend events in Russia also kept investors on guard, though reaction in…
A look at the day ahead in European and global markets from Tom Westbrook Investors in the Asia session were circumspect after an extraordinary weekend in Russia, briefly bidding up oil a little bit but otherwise standing back to wait for clarity. Mercenaries from the Wagner group were returning to their bases after a deal…
By Lewis Jackson SYDNEY (Reuters) -PricewaterhouseCoopers Australia staff who are found to have acted improperly in a scandal over the leaking of government tax plans will face “severe” consequences, acting chief executive Kristin Stubbins told a state parliament inquiry on Monday. In her first public appearance since her predecessor resigned over his involvement in the…
