By Bansari Mayur Kamdar (Reuters) – Meme stocks have surged in the last few weeks as retail investors shun pricier stocks for cheaper speculative names, but some experts worry that this could choke the current rally in broader markets. At a time when the wider rally has made some stocks, especially in the tech space,…
FRANKFURT (Reuters) -Deutsche Bank signalled a more positive outlook on Tuesday, saying it would undertake a 450 million euro ($497 million) share buyback this year. The measure, larger than last year’s buyback of 300 million euros, reflects the improved financial state of Germany’s largest lender. The bank had previously flagged that it would aim for…
(Reuters) – Chinese short-video app TikTok is allowing users to create text-only posts, in the latest attempt by a social media firm to capitalize on the turmoil at Twitter since its buyout by Elon Musk last year. The move, announced on Monday, would allow TikTok users to choose from a variety of backgrounds for their…
By Andrea Shalal WASHINGTON (Reuters) – The International Monetary Fund on Tuesday raised its 2023 global growth estimates slightly given resilient economic activity in the first quarter, but warned that persistent challenges were dampening the medium-term outlook. The IMF in its latest World Economic Outlook said inflation was coming down and acute stress in the…
By Shaloo Shrivastava BENGALURU (Reuters) – The Bank of England will raise its Bank Rate by a quarter-point to 5.25% on August 3, making borrowing the costliest since early 2008, and hike twice more by the year-end as price pressures persist, a Reuters poll showed. Despite 13 rate rises since December 2021, the BoE is…
SAO PAULO (Reuters) – Brazilian electric utility Copel is planning to launch a public share offering between Tuesday and Wednesday of up to 5 billion reais ($1.05 billion) to take the firm private, it said on Tuesday. The offering will amount to between 4.3 billion reais and 5 billion reais based on Monday’s closing price…
By Shivansh Tiwary (Reuters) -U.S. airlines stocks tumbled on Tuesday as investors were spooked by downbeat forecasts from Alaska Air Group and a warning on jet engines by aerospace giant RTX. Investors have been on the guard after U.S. inflation data in July showed a third consecutive monthly decline in fares, with prices dropping at…
By Soo-hyang Choi and Josh Smith SEOUL (Reuters) -Tourists should expect far stricter supervision if visits to the border between North and South Korea resume, analysts said, after U.S. soldier Travis King used an organised tour to get close enough to dash across to North Korea last week. The U.S. Army private joined a tour…
By Chijioke Ohuocha ABUJA (Reuters) -Nigeria’s central bank raised its main lending rate by a smaller-than-expected 25 basis points on Tuesday, saying it preferred a moderate increase to anchor inflation expectations while continuing to support investment. In the boldest reforms seen in years, new President Bola Tinubu has ended a decades-old petrol subsidy that has…
By Kannaki Deka (Reuters) -U.S. industrial conglomerate 3M Co on Tuesday raised its full-year profit forecast and reported better-than-expected quarterly results helped by higher prices and cost-cut measures, sending its shares to a four-month high of nearly 6%. 3M, which makes electronic displays for smartphones and tablets, raised prices to offset high raw material and…
