(Reuters) – U.S. industrial and software firm Emerson Electric Co on Wednesday said it would buy measurement equipment maker NI Corp for $60 per share in cash, giving the deal an equity value of $8.2 billion. The deal represents a premium of 14.11% to National’s last close on Tuesday. Texas-based NI, formerly known as National…
By Andrea Shalal and David Lawder WASHINGTON (Reuters) -China is expected to drop its demand for multilateral development banks to share losses alongside other creditors in sovereign debt restructurings for poor nations, removing a major roadblock to debt relief, a source familiar with the plans said. The development is expected at a high-level sovereign debt…
By Ahmad Ghaddar (Reuters) -Oil prices steadied Wednesday as the market waited for U.S. inflation data later in the day that will likely influence the Federal Reserve’s policy on interest rate hikes. Brent crude gained 14 cents, or 0.2%, to $85.75 a barrel by 0917 GMT, while U.S. West Texas Intermediate rose 10 cents, or…
(Reuters) -Mercedes-Benz Group sales rose moderately in the first quarter of the year, boosted by electric vehicles (EV) and premium cars, the German carmaker said on Wednesday. Worldwide sales increased 3% to 503,500 vehicles, with Europe posting the strongest growth at 8%. The firm saw the biggest sales plunge in the rest of the world…
OSLO (Reuters) -AB Volvo reported record first-quarter profit, a preliminary filing showed late on Tuesday, as the truck maker boosted its revenue and margins despite supply bottlenecks and cost inflation. Its adjusted operating profit rose 45% to 18.4 billion Swedish crowns ($1.76 billion) for the January-March quarter, well above the 12.9 billion expected by analysts…
By Rae Wee SINGAPORE (Reuters) – The dollar dipped on Wednesday against most major currencies, with the exception of the yen, with investors expecting U.S. inflation data out later in the global day to hold some clue on how soon U.S. interest rates will peak. Against a basket of currencies, the U.S. dollar index fell…
SINGAPORE (Reuters) – The U.S. arm of cryptocurrency exchange Binance said it will remove digital asset tokens TRON and Spell from its trading platform, sending the prices of both down sharply on Wednesday. Binance.US said the move was the result of a periodic review and that factors it regularly considers can include trading volume and…
By Jody Godoy and Helen Coster (Reuters) – A Fox Corp shareholder sued Chairman Rupert Murdoch and four other board members on Tuesday, saying they failed to stop Fox News from reporting falsehoods about the 2020 U.S. presidential election that damaged its credibility and prompted lawsuits. Shareholder Robert Schwarz alleged in the lawsuit filed in…
TOKYO (Reuters) – Goldman Sachs Group Inc said on Wednesday it is launching its transaction banking business for corporate clients in Japan, as the U.S. investment bank expands in the world’s third-largest economy. Goldman, which received its Japanese banking license in 2021, will provide clients with treasury services including deposits, cash management and cross-border payments…
By Arathy Somasekhar (Reuters) – Oil prices were little changed in early trading on Wednesday after industry data showed an unexpected build in U.S. crude and gasoline inventories, offsetting concerns about tightening supply ahead of output cuts by OPEC producers. In a sign of market tightness, U.S. crude futures have flipped into backwardation, with the…
