NEW YORK (Reuters) – Asset manager Rithm Capital has agreed to acquire hedge fund firm Sculptor Capital Management for $639 million, the companies said in a statement on Monday. Rithm will pay $11.15 per class A share of Sculptor, which represents a premium of 18% over Sculptor’s closing price on Friday. Sculptor, once known as…
By Foo Yun Chee BRUSSELS (Reuters) – Apple on Tuesday found itself the target of a 785-million-pound ($1 billion) class action lawsuit brought by more than 1,500 apps developers in the UK over its App Store fees. Apple’s services business, which includes the App Store, has seen revenues grow at a rapid pace in the…
(Reuters) – Chipmaker NXP Semiconductors forecast third-quarter revenue and profit above Wall Street targets on Monday, betting that demand from automakers ramping up production will cushion the hit from a weak consumer electronics market. Growing electrification of cars and the use of advanced driver-assistance systems have kept demand for automotive chips steady, helping NXP, which…
By Fedja Grulovic RHODES, Greece (Reuters) -More than 2,000 holidaymakers were flown home on Monday, tour operators cancelled upcoming trips, and residents took shelter as wildfires raged on the Greek island of Rhodes for the seventh day. Repatriation flights are due to continue into Tuesday as the fires remained out of control. The Civil Protection…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The contrasting market fortunes between the U.S. and China are well known to investors, but deepening gloom surrounding China’s property sector and a surprisingly blunt view of the economy from Beijing suggests the chasm will…
(Reuters) – The U.S. government will provide up to $1.55 billion in funding to monitor and reduce methane emissions from the oil and gas sector, two agencies said on Monday. The funding will be accompanied by technical assistance for companies to rein in emissions of the planet-warming greenhouse gas from leaks and daily operations, the…
By Hernan Nessi and Jorgelina do Rosario BUENOS AIRES/LONDON (Reuters) -Argentina on Monday set new weaker trade-related exchange rates while keeping the official peso rate stable, in a push to meet expectations in its $44 billion agreement with the International Monetary Fund while avoiding a politically costly devaluation. Corn exporters will be able to sell…
By Arriana McLymore NEW YORK (Reuters) – Shein, an online discount clothing retailer whose labor practices in China are being questioned by U.S. lawmakers, spent $600,000 in the second quarter in lobbying on Capitol Hill, its first filings of such registrations showed. The outlay by Singapore-based Shein, launched in China in 2012, shows its moderate…
By Chibuike Oguh NEW YORK (Reuters) -Global equity markets and Treasury yields rose on Monday as investors braced for interest rate decisions from key central banks, including the U.S. Federal Reserve, as well as corporate earnings that may shed light on the state of the economy. An overwhelming majority of traders expect the Fed to…
By Matt McKnight BICKLETON, Washington (Reuters) -A fast-growing wildfire forced residents to evacuate a rural stretch of southern Washington state’s Klickitat County on Saturday after it burned more than 30,000 acres in less than 24 hours. The Newell Road Wildfire has already destroyed several structures in the area and is threatening homes, farms, crops and…
