By Shreyashi Sanyal and Sabahatjahan Contractor (Reuters) – The Nasdaq and the S&P 500 indexes inched higher in volatile trading on Friday as megacap stocks gained ground, while investors assessed talks between U.S. President Joe Biden and his Chinese counterpart Xi Jinping over the Ukraine conflict. Seven of the 11 major S&P sectors were lower,…
By Fanny Potkin and Poppy McPherson SINGAPORE (Reuters) -Myanmar’s junta has given the final approval for the sale of Norwegian telecommunications company Telenor’s operations in the country to a local company and a Lebanese investment firm, the firm said on Friday. Telenor Chief Executive Sigve Brekke said in a statement the firm had to leave…
By Julie Gordon OTTAWA (Reuters) – Canadian retail sales bounced back in January, beating expectations, as shoppers ventured out to car dealerships and home improvement shops, official data showed Friday, though February retail sales likely fell. Retail sales increased 3.2% to C$58.94 billion ($46.7 billion) in January, led by higher sales of motor vehicles and…
By Shreyashi Sanyal and Sabahatjahan Contractor (Reuters) -Wall Street’s main indexes were set to open lower on Friday at the end of a choppy week marked by little progress in peace talks to end the war in Ukraine and the first U.S. interest rate hike since 2018. The broad declines could snap a three-day rally…
(Reuters) – Russia is considering allowing retailers to import products from abroad without the trademark owner’s permission, the competition regulator said on Friday, after global brands halted sales or stopped exports over its invasion of Ukraine. Allowing “parallel imports” reflects how Russia’s retail sector has been upended by Western economic sanctions and decisions by international…
By Iain Withers and Carolyn Cohn LONDON (Reuters) – While the West’s big investors have ditched Russia in recent weeks, one small group of armchair investors sees a bargain and is shrugging off any ethical qualms. At a time when many in Britain are pouring cash into charities to support relief efforts in Ukraine after…
FRANKFURT (Reuters) -Managers at sportscar maker Porsche late last year travelled to the United States to discuss possible joint projects with iPhone maker Apple as well as with some other tech companies, Porsche’s CEO said on Friday. “We already have Apple CarPlay, we will expand on that,” Chief Executive Oliver Blume said during a video…
By Makiko Yamazaki TOKYO (Reuters) – A U.S.-based fund has called for Japan’s Shimizu Corp to halt a $190 million bid to take control of road builder Nippon Road Co Ltd, saying the deal would be unfair to minority shareholders and go against governance reform. In a letter to Nippon Road’s board this week that…
By Bharat Gautam (Reuters) – Gold dipped on Friday as the dollar strengthened, with prices on course for their worst week in nearly four months as some of the safe-haven demand spurred by Russia’s invasion of Ukraine cooled. Spot gold slipped 0.5% to $1,932.20 per ounce, as of 1002 GMT. U.S. gold futures fell 0.5%…
By Chris Prentice WASHINGTON (Reuters) – You may not have heard of Joshua Mitts, a young Columbia University professor who is making some powerful enemies on Wall Street. The 36-year-old securities law specialist has become an increasingly influential figure in the hot debate over activist short selling since publishing a 2018 analysis of trading data…
