(Reuters) – Global equity funds obtained huge inflows in the week ended Nov. 2 as investors were hoping that the U.S. Federal Reserve would consider decelerating the pace of its interest rate hikes, ahead of its policy decision. According to Refinitiv Lipper data, investors purchased a net $13.76 billion worth of global equity funds, marking…
(Reuters) – PayPal Holdings shares dropped 7% in premarket trading as the payments processor cut its annual revenue forecast, warning of a bleak holiday quarter as consumers cut back on discretionary spends. Decades-high inflation has hit the purchasing power of consumers who also have to contend with the threat of a looming recession. PayPal said…
By Ankur Banerjee and Amanda Cooper LONDON/SINGAPORE (Reuters) – Global stocks rose on Friday for the first time in three days ahead of key U.S. jobs data, as investors took heart from reports China may relax its COVID rules, boosting major currencies against the dollar and prompting a 2% rally in oil. The MSCI index…
(Reuters) – European shares opened higher on Friday, with luxury stocks and miners leading the advance on hopes that China will soon ease its strict COVID-19 curbs. The STOXX 600 rose 0.7% by 0813 GMT, with miners jumping 3.2%, ahead of data which will likely show the smallest U.S. job additions in nearly two years…
By Ankur Banerjee SINGAPORE (Reuters) – Asian equities surged on Friday and were set for their first weekly gain in a month, as renewed hopes that China will relax its strict COVID measures spurred a rally in riskier assets. MSCI’s broadest index of Asia-Pacific shares outside Japan was 2.07% higher on the day, with China’s…
By David Shepardson WASHINGTON (Reuters) – Ford Motor Co said on Thursday the U.S. Treasury Department should limit the definition of a “foreign entity of concern” to ensure more electric vehicles can qualify for up to $7,500 in consumer tax credits. In August, Congress passed the $430 billion Inflation Reduction Act (IRA) legislation to restructure…
By Sheila Dang, Katie Paul and Paresh Dave (Reuters) – Twitter will tell employees by email on Friday about whether they have been laid off, temporarily closing its offices and preventing staff access, following a week of uncertainty about the company’s future under new owner Elon Musk. The social media company said in an email…
(Reuters) -A state court in Washington has temporarily blocked Albertsons Companies Inc from paying a $4 billion dividend to shareholders before the grocery chain closes its proposed deal with rival Kroger Co, documents filed said on Thursday. Kroger Co snapped up Albertsons in a $25 billion deal in last month’s mega merger between the No….
By Jamie Freed SYDNEY (Reuters) – Qantas Airways Ltd’s CEO succession planning is in good shape even though long-serving boss Alan Joyce is expected to stay until at least the end of 2023, the airline’s chairman said on Friday. “The board looks at succession each year at almost every meeting, but specifically twice a year,”…
(Reuters) – Washington’s King County court has granted a nationwide temporary restraining order, blocking grocery chain Albertsons Companies Inc’s $4 billion dividend payment, State Attorney General Bob Ferguson tweeted on Thursday. “We’ll be back in court Nov. 10 seeking an injunction to keep the dividend on hold while our lawsuit continues,” Ferguson said in a…
