HOUSTON (Reuters) – The U.S. will not block a court auction of shares in oil refiner Citgo Petroleum Corp’s parent, Justice Department officials told a federal court, paving the way for a potential seizure by creditors of Venezuela’s most-prized foreign asset. The U.S. Treasury Department since 2020 has protected Citgo from creditors with claims against…
By Chris Prentice, Saeed Azhar, Lananh Nguyen and Paritosh Bansal (Reuters) – U.S. regulators are trying to clinch a sale of First Republic Bank over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely to be the third major U.S. bank to fail in two months. Citizens…
ZURICH (Reuters) – As UBS’s takeover of former rival Swiss bank Credit Suisse nears completion, details are emerging of what the new merged bank will look like. UBS is working towards spinning off the Swiss part of Credit Suisse and having the business’s current head, Andre Helfenstein, run it, NZZ am Sonntag reported on Sunday….
By Ellen Zhang and Ryan Woo BEIJING (Reuters) -China’s manufacturing activity unexpectedly shrank in April, official data showed on Sunday, raising pressure on policymakers seeking to boost an economy struggling for a post-COVID lift-off amid subdued global demand and persistent property weakness. The official manufacturing purchasing managers’ index (PMI) declined to 49.2 from 51.9 in…
(Reuters) – Tesla’s Model S and Model X were not available for order in some Asia-Pacific countries, including Australia, Thailand, Singapore and New Zealand, the automaker’s website showed on Sunday. Other Tesla Inc models, such as Model 3 and Model Y were available in these countries, according to the website. It was not immediately clear…
By Chris Prentice, Saeed Azhar, Lananh Nguyen and Paritosh Bansal (Reuters) -U.S. regulators are trying to clinch a sale of First Republic Bank over the weekend, with roughly half a dozen banks bidding, sources said on Saturday, in what is likely to be the third major U.S. bank to fail in two months. Citizens Financial…
By Jonathan Stempel NEW YORK (Reuters) -Energizer Holdings Inc and Walmart Inc have been sued by consumers and retailers in three proposed class actions accusing them of conspiring to raise the prices of disposable batteries. According to complaints filed on Friday, Energizer agreed “under pressure from Walmart” to inflate wholesale battery prices for other retailers…
By Chris Prentice, Saeed Azhar, Lananh Nguyen and Paritosh Bansal (Reuters) -Banks including Citizens Financial Group Inc, PNC Financial Services Group and JPMorgan Chase & Co are among roughly half a dozen bidders vying for First Republic Bank in an auction process being run by U.S. regulators, according to sources familiar with the matter. Guggenheim…
By Anirban Sen and Echo Wang NEW YORK (Reuters) -SoftBank Group Corp’s chip maker Arm Ltd has filed with regulators confidentially for a U.S. stock market listing, Arm said on Saturday, setting the stage for this year’s largest initial public offering. The IPO registration shows that Softbank is pressing ahead with the blockbuster offering despite…
By Jonathan Stempel NEW YORK (Reuters) – Energizer Holdings Inc and Walmart Inc have been sued by consumers and retailers in three proposed antitrust class actions accusing them of conspiring to raise the prices of disposable batteries. According to complaints filed on Friday, Energizer agreed “under pressure from Walmart” to inflate wholesale battery prices for…
