(Reuters) – Canadian investment firm Brookfield’s insurance arm has offered to buy American Equity Investment Life Holding in a deal valued at nearly $4.3 billion, the annuities provider said on Tuesday. The deal comes months after AEL rejected a nearly $4 billion takeover offer from insurance firm Prosperity Life and its principal shareholder Elliott Investment…
By Maki Shiraki and Daniel Leussink TOKYO (Reuters) -Nissan shareholders re-elected its chief executive and other board nominees on Tuesday at an annual meeting that came days after revelations of a split among senior management and allegations of corporate surveillance. The Japanese automaker is investigating accusations that CEO Makoto Uchida carried out surveillance of his…
(Reuters) – Most major U.S. banks expect the Federal Reserve to deliver another 25-basis-point rate hike in July after the central bank signaled that borrowing costs may need to rise by as much as half a percentage point by the end of the year. The Fed’s main rate now stands at 5.00% – 5.25% range….
(Reuters) -Former Audi boss Rupert Stadler was handed a suspended sentence of one year and nine months by a Munich court on Tuesday for fraud by negligence in the 2015 diesel scandal, becoming the first former Volkswagen board member to receive such a sentence. The ex-boss was fined 1.1 million euros ($1.20 million), which will…
(Reuters) -Aston Martin said on Tuesday it remained on track to report an adjusted profit of 500 million pounds ($636.7 million) by the fiscal year 2025. The Gaydon-based group said it expects to “substantially achieve” those financial targets in 2024 – including a revenue forecast of about 2 billion pounds – and added it is…
By Mike Spector, Joseph White and Dietrich Knauth NEW YORK (Reuters) – Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after the U.S. electric truck manufacturer failed to resolve a dispute over a promised investment from Taiwan company Foxconn. Lordstown, named after the Ohio town where it is based,…
By Ju-min Park and Heekyong Yang SEOUL (Reuters) – When former Samsung executive Choi Jinseog won a contract with Taiwan’s Foxconn in 2018, he tapped his former employer’s supplier network to steal secrets to help his new client set up a chip factory in China, a sealed indictment by South Korean prosecutors alleges. Prosecutors announced…
By Trixie Yap and Stephanie Kelly (Reuters) -Oil prices edged higher on Tuesday, spurred by worries about political instability in Russia and possible supply disruptions, as well as U.S. demand hopes ahead of the summer driving season. By 0041 GMT, Brent crude futures had climbed 37 cents to $74.55 a barrel, while U.S. West Texas…
By Kane Wu HONG KONG (Reuters) – Asian stocks wobbled on Tuesday as investors held tight ranges awaiting clues on the interest rate outlook and wary of risks about China’s shaky economic recovery and developments in Russia after an aborted mutiny. MSCI’s gauge of Asia Pacific stocks outside Japan was up 0.08% at 0126 GMT,…
By Jane Lanhee Lee OAKLAND, California (Reuters) – Snowflake a cloud data analytics company, is partnering with computing company Nvidia to allow customers ranging from financial institutions to healthcare and retail to build AI models using their own data. The two companies announced the partnership at Snowflake Summit 2023 on Monday. “In the old days,…
