By Chris Prentice WASHINGTON (Reuters) – You may not have heard of Joshua Mitts, a young Columbia University professor who is making some powerful enemies on Wall Street. The 36-year-old securities law specialist has become an increasingly influential figure in the hot debate over activist short selling since publishing a 2018 analysis of trading data…
By Ari Rabinovitch JERUSALEM (Reuters) -Israel’s parliament on Monday ratified the first bill of a judicial overhaul sought by Prime Minister Benjamin Netanyahu, after last-gasp compromise efforts collapsed and failed to ease a constitutional crisis convulsing the country for months. The amendment limiting the Supreme Court’s powers to void some government decisions if it deemed…
(Reuters) – Logitech International reported a 20% drop in sales for its fourth quarter on Tuesday, as the computer mice, webcam and keyboard maker lapped high comparables from a year earlier. Sales fell to $1.23 billion for the three months to the end of March from $1.54 billion a year earlier, when sales were massively…
By Anirban Sen and David Carnevali NEW YORK (Reuters) – U.S. Steel Corp attracted acquisition interest after short-term challenges, including upgrading furnaces and potential car production shutdowns, weighed on its valuation, according to people familiar with the deliberations of its suitors. The Pittsburgh-based company, which has a market value of $6.8 billion, is exploring its…
By Nevzat Devranoglu and Orhan Coskun ANKARA (Reuters) – Turkey’s net foreign exchange reserves surged nearly $5 billion last week, with total reserves up almost $2 billion, bankers’ calculations showed on Wednesday, resuming an uptrend since it adopted a more orthodox monetary policy following May elections. The rebuilding of the central bank’s currency buffer is…
By Howard Schneider WASHINGTON (Reuters) – The strong January job gains of half a million new positions coupled with moderating wage growth has increased hopes for a “soft landing” as the Fed continues with interest rate increases but the labor market powers ahead, Federal Reserve Gov. Lisa Cook said on Wednesday. Cook said the Fed…
(Reuters) -Canada Goose Holdings Inc forecast annual earnings and revenue above Wall Street expectations after reporting a surprise quarterly profit on Thursday, encouraged by strong demand for its luxury parkas and jackets. U.S.-listed shares of the Toronto, Ontario-based company rose 10% before the bell, a day after a broad market sell-off triggered by poor results…
A look at the day ahead in European and global markets from Anshuman DagaWith just a week to go before the European Central Bank (ECB) meets, inflation data takes centre stage for investors. But will that really change market consensus that big rate hikes are coming? Unlikely. A spate of inflation data from Germany and…
By Balazs Koranyi and Francesco Canepa SINTRA, Portugal (Reuters) -Bank of Japan (BOJ) Governor Kazuo Ueda on Wednesday said the central bank would see good reason to shift monetary policy if it became “reasonably sure” that inflation would accelerate into 2024 after a period of moderation. The BOJ expected inflation to slow “for a while”…
(Corrects spelling of Elliott in headline and 2nd paragraph) By Chibuike Oguh and Tiyashi Datta NEW YORK (Reuters) -Memory chip maker Western Digital Corp said on Tuesday it will receive $900 million through a convertible preferred stock deal from private equity firm Apollo Global Management Inc and hedge fund Elliott Management Corp. Western Digital said…