By Elvira Pollina and Giuseppe Fonte MILAN (Reuters) -Australian fund Macquarie is raising legal hurdles over a plan backed by Italy’s Treasury for state lender CDP to join forces with U.S. fund KKR to buy Telecom Italia’s (TIM) landline grid, three sources said. TIM <TLIT.MI> directors have set a final deadline of June 9 for…
By Chayut Setboonsarng and Panu Wongcha-um BANGKOK (Reuters) – Thailand’s two main opposition parties agreed on Monday to form a ruling coalition after they trounced in a weekend election military-backed rivals that have controlled government for nearly a decade. The Move Forward party and opposition heavyweight Pheu Thai dominated Sunday’s ballot in a rout of…
By David Lawder, Andrea Shalal WASHINGTON (Reuters) -The U.S. Treasury Department reiterated Monday it expects to be able to pay the U.S. government’s bills only through June 1 without a debt limit increase, increasing pressure on congressional Republicans and the White House to reach a deal in coming days. In her second letter to Congress…
By Ellen Zhang and Joe Cash BEIJING (Reuters) -China’s April industrial output and retail sales growth undershot forecasts, suggesting the economy lost momentum at the beginning of the second quarter and intensifying pressure on policymakers to shore up a wobbly post-COVID recovery. Tuesday’s batch of data, which also showed a further decline in property investment,…
By William Schomberg and Sachin Ravikumar LONDON (Reuters) -Britain’s unemployment rate rose and there were other signs of less inflationary heat in the labour market in data published on Tuesday, prompting investors to scale back some of their bets on further Bank of England interest rate hikes. The jobless rate edged up to 3.9% in…
By Andrew Hay and Steve Gorman (Reuters) -An 18-year-old gunman stalked through a New Mexico neighborhood on Monday firing randomly at bystanders, houses and cars, killing three people and wounding six before police shot him dead outside a church, authorities said. The late-morning shooting spree unfolded in a residential area of Farmington, New Mexico, a…
(Reuters) -Morgan Stanley is considering a 7% cut in its Asia-Pacific investment banking workforce, or about 40 jobs, according to a source with direct knowledge of the matter. The cuts would mainly impact the investment banking and capital markets business in the region, not including Japan. A Morgan Stanley spokesperson declined to comment. The job…
(Reuters) -Nelson Peltz, the activist investor who launched and then gave up a proxy fight earlier this year at Walt Disney Co, has recently added to his stake in the company, Bloomberg News reported on Monday. Peltz-owned Trian Fund Management has purchased roughly 500,000 more shares since the end of March, giving it a total…
By Caroline Valetkevitch NEW YORK (Reuters) – First-quarter U.S. company results are winding down, but investors will get one last blast of reports in coming days from some top retailers, which could offer further details on the outlook for earnings and how consumers are faring. Investors are anxious to see whether the last results of…
A look at the day ahead in European and global markets from Vidya Ranganathan Tuesday’s a busy day for European markets. We get preliminary growth numbers for the euro zone, inflation in Italy, jobless data for Britain and, crucially, the German economic sentiment ZEW survey. No surprises are seen in euro zone GDP data –…
