(Reuters) – Private-equity group KKR is nearing a deal to buy a large stake in FGS Global that will value the financial communications company at about $1.4 billion, the Financial Times reported on Thursday. The deal could be announced as soon as next week, the FT report said, marking the latest significant investment by buyout…
By Kevin Buckland TOKYO (Reuters) – Asian stocks and U.S. equity futures sank on Thursday while bonds and the safe-haven U.S. dollar and Japanese yen were bid as mounting evidence of a U.S. slowdown fuelled worries for a global recession. Investors were inclined to take money off the table after recent strong gains, and with…
BENGALURU (Reuters) – Apple Inc is set to open its first official retail store in India’s financial hub of Mumbai, the iPhone maker said on Wednesday. The Cupertino, California-based company launched an online retail store in India in 2020. Its 2021 plans for the launch of an offline retail store in the country were delayed…
By Noel Randewich and Ankika Biswas (Reuters) – The S&P 500 dipped and the Nasdaq ended sharply lower on Wednesday after a growing wave of weak economic data deepened worries that the Federal Reserve’s rapid interest rate hikes might tip the U.S. economy into a recession. Nvidia Corp dropped 2.1% and was among the stocks…
(Reuters) -Amazon.com Inc said it would reduce employee stock awards, a part of its compensation plan, as the e-commerce giant navigates an uncertain economy. “We made the decision to reduce RSU (restricted stock units) awards in the final outlook year by a small amount (other years are not impacted),” an Amazon spokesperson said in an…
(Reuters) -AbbVie Inc on Wednesday lowered its full-year and first-quarter profit expectations, citing a $150 million hit from acquired in-process research and development (IPR&D) and milestone expenses. The drugmaker’s shares were down nearly 1% at $159.50 in extended trade. The company estimated first-quarter adjusted earnings to be between $2.31 and $2.41 per share from an…
MEXICO CITY (Reuters) -Mexico’s annual inflation slowed in March by more than expected to 6.85%, the lowest rate in nearly 1-1/2 years, although core price pressures remained elevated, data from national statistics agency INEGI showed on Wednesday. The March reading was the lowest since October 2021, and came in slightly below the consensus forecast of…
By Valerie Insinna WASHINGTON (Reuters) -Boeing Co said on Wednesday it had restarted deliveries of its widebody 767 after a three-month pause caused by supplier quality issues. The U.S. planemaker was forced to halt deliveries of the 767F freighter and KC-46 tanker earlier this year after it discovered center fuel tanks made by a supplier…
(Reuters) -Johnson & Johnson’s shares rose nearly 4% in early trading to hit a near two-month high of $164.48 on Wednesday as the company’s $8.9 billion offer to settle talc-related lawsuits gained support of thousands of claimants, easing an overhang on its plans to list consumer health unit Kenvue. Some analysts were positive about the…
DETROIT (Reuters) – Ford Motor Co plans “dramatic reductions” in the complexity of its product lineup starting in the 2024 model year, Jim Baumbick, the automaker’s product development chief, said Wednesday at a conference hosted by Bank of America. At the same time, Ford plans to develop more variations of certain model lines, such as…
