NEW YORK (Reuters) – The U.S. economy should avoid a recession this year while inflation will fall closer to target, implying “a positive outlook for capital flows to emerging markets,” a global banking trade group said in a Wednesday report. Latin America as a whole is expected to be among foreign money’s favorite destinations among…
By Sam Tobin LONDON (Reuters) -The billionaire co-chairman and CEO of Chinese developer Guangzhou R&F Properties Co Ltd on Wednesday agreed to be extradited from London to the United States, where he is facing bribery charges. Zhang Li, who co-founded Hong Kong-listed R&F, is wanted on a provisional warrant issued in the Northern District of…
By David Carnevali (Reuters) – French aerospace engine maker Safran SA is nearing an approximately $1.8 billion deal to acquire a Raytheon Technologies Corp unit that makes flight controls for aircraft, helicopters and missiles, according to a person familiar with the matter. The deal rids Raytheon of a low-margin business it inherited from its $120…
By Karl Plume and Rod Nickel CHICAGO (Reuters) -Bunge’s planned acquisition of Viterra would make the world’s biggest oilseed crusher even more dominant and secure a larger role in the expanding renewable diesel industry, although it may face competition hurdles. Under the deal to create an agricultural giant worth about $34 billion including debt, Bunge’s…
By David French (Reuters) – One of SilverBow Resources Inc’s largest shareholders called on the U.S. oil and gas producer on Wednesday to drop its anti-takeover defenses and explore a sale, according to a letter reviewed by Reuters. Hedge fund Riposte Capital wrote in the letter that Houston-based SilverBow’s valuation was weighed down by adoption…
By Ananya Mariam Rajesh (Reuters) -Anheuser-Busch InBev’s Bud Light has lost its top spot in the U.S. beer market to Constellation Brands’ Modelo Especial, following backlash from conservatives over a social media promotion with transgender influencer Dylan Mulvaney. Sales of Bud Light and Budweiser dropped 24.6% and 9.2%, respectively, for the four weeks ended June…
By David Shepardson WASHINGTON (Reuters) -A U.S. judge late on Tuesday granted the Federal Trade Commission’s (FTC) request to temporarily block Microsoft Corp’s acquisition of video game maker Activision Blizzard and set a hearing next week. U.S. District Judge Edward Davila scheduled a two-day evidentiary hearing on the FTC’s request for a preliminary injunction for…
(Reuters) -China’s foreign minister Qin Gang urged the United States to stop meddling in its affairs and harming its security in a phone call with his U.S. counterpart on Wednesday, a tense preview to Antony Blinken’s visit to Beijing expected in coming days. Qin told Blinken to respect China’s core concerns, such as the Taiwan…
(Reuters) – Chip designer Nvidia closed Tuesday with a trillion-dollar market value for the first time, part of a steady climb in the stock’s price in recent months on the back of the artificial intelligence (AI) boom. Here’s an explainer on Nvidia and its role in powering the radical new technology. HOW BIG IS NVIDIA…
By Lidia Kelly and Andrew Osborn (Reuters) – Belarusian President Alexander Lukashenko has said his country has started taking delivery of Russian tactical nuclear weapons, some of which he said were three times more powerful than the atomic bombs the US dropped on Hiroshima and Nagasaki in 1945. The deployment is Moscow’s first move of…
