WORLD MARKET NEWS - Page 6

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Twitter shares slide after Elon Musk’s $44 bln deal falls apart

July 11, 2022 17:03 IST

Musk, the chief executive officer of Tesla Inc, said on Friday he was terminating his deal to buy Twitter because the company had breached multiple provisions of the merger agreement.

An employee views a FTSE share index board in the atrium of the London Stock Exchange Group Plc's offices in London, U.K., on Wednesday, May 29, 2019. (Bloomberg)

UK stock markets will be glad to forget Boris Johnson’s tenureSubscriber Only

July 8, 2022 13:30 IST

The FTSE 100 and the locally-focused FTSE 250 have both fallen about 8% in dollar terms since the outgoing Prime Minister took office in July 2019, with a bleak economic outlook and political turmoil since Brexit keeping investors away from UK assets.

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Japan’s Nikkei ends flat after ex-PM Shinzo Abe shot

July 8, 2022 13:13 IST

The Nikkei index closed up 0.1% at 26,517.19 after climbing as much as 1.4% earlier in the session.

Safety-bid drives Japan’s yen after news of Shinzo Abe being shot

July 8, 2022 10:42 IST

The yen rose as far as 135.33 per dollar after news that Abe had been taken to hospital after collapsing while delivering a speech in the western city of Nara, after gunshot-like sounds, according to reports by public broadcaster NHK.

OPEC Secretary-General Mohammad Barkindo dies, Nigerian oil official says

July 6, 2022 12:35 IST

Barkindo, who was 63 years old, was due to step down at the end of this month after six years as OPEC's secretary-general.

A symphony of light consisting of bars, lines and circles in blue and yellow, the colours of the European Union, illuminates the south facade of the European Central Bank (ECB) headquarters in Frankfurt, Germany, December 30, 2021. (REUTERS/File Photo)

ECB ends bond buys, signal 25 bps July rate hike

June 9, 2022 18:10 IST

The ECB said it will end bond buys on July 1 then raise interest rates by 25 basis points later that month. It will hike again in September and may opt for a bigger move then if inflation continues to surprise.

Bank of Russia rode Ruble’s rally when war left few optionsSubscriber Only

June 9, 2022 17:47 IST

The culmination of what insiders describe as Nabiullina’s tactical maneuver may come on Friday, when some economists think the central bank could lower the benchmark below its pre-war level of 9.5%.

International and domestic buyers have rejected a series of tea consignments due to the presence of pesticides and chemicals. (Representational image/Getty images/ Thinkstock)

High in pesticides, many countries send back Indian tea

June 3, 2022 18:33 IST

All teas sold in the country must conform to the Food Safety and Standards Authority of India (FSSAI) norms. However, most of the buyers are purchasing tea that has unusually high chemical content

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Elon Musk’s jobs warning at Tesla underscores gloomy economic outlook

June 3, 2022 15:43 IST

The email, titled "pause all hiring worldwide", was sent to Tesla executives on Thursday, and underscored an increasingly gloomy economic outlook for the globe, as prices soar and war in Ukraine passed its 100th day.

Masayoshi Son, Masayoshi Son Softbank, Softbank

SoftBank execs’ pay slashed after historic Vision Fund lossSubscriber Only

May 30, 2022 11:20 IST

The company’s founder and Chief Executive Officer Masayoshi Son kept his pay unchanged at 100 million yen (roughly $785,000), however some of his top executives whose compensation was made public through a company filing on Monday saw big drops following a record $20.5 billion loss.

McDonald’s to sell its Russian business, try to keep workers

May 16, 2022 17:24 IST

The Chicago-based company announced in early March that it was temporarily closing its stores in Russia but would continue to pay employees. On Monday, it said it would seek to have a Russian buyer hire those workers and pay them until the sale closes. It did not identify a prospective buyer.

SoftBank racks up record $26 billion Vision Fund loss

May 12, 2022 13:13 IST

The loss was in stark contrast to a year earlier when SoftBank posted record annual profit, surpassing global heavyweights such as Warren Buffett's Berkshire Hathaway, after the listing of South Korean e-commerce firm Coupang.

A woman wearing a protective mask walks in front of an electronic stock board showing Japan's Nikkei 225 index and Japanese yen and U.S. dollar exchange rate at a securities firm Monday, May 9, 2022, in Tokyo. (AP Photo)

Japan has long sought more inflation and a weak yen. But not like this.Subscriber Only

May 12, 2022 11:41 IST

While overall inflation remains moderate, food and energy costs are rising rapidly, an outgrowth not of increased demand, but of market turmoil related to the pandemic and Russia’s invasion of Ukraine. And the yen has hit a two-decade low against the dollar, a dizzying drop of more than 18% since September that has unnerved Japanese businesses.

Bank of England hikes rates to 1% as it warns of growing recession riskSubscriber Only

May 5, 2022 17:04 IST

The rate increase to 1% from 0.75% was backed by six of the bank’s nine policy makers, with three voting for a 50-basis-point increase. Those members, Michael Saunders, Catherine Mann and Jonathan Haskel, were particularly concerned about rising pay growth.

The skyscraper housing the Citigroup Inc. offices stands at 25 Canada Square in the Canary Wharf business, financial and shopping district in London, U.K., on Thursday, June 13, 2019. (Bloomberg)

Citi trader made error behind flash crash in Europe stocksSubscriber Only

May 3, 2022 17:49 IST

A trader at the U.S. firm made a mistake “inputting a transaction,” Citigroup said late last night, after a knee-jerk selloff in Swedish stocks in five minutes wreaked havoc in bourses from Paris to Warsaw, wiping out 300 billion euros ($315 billion) at one point. The bank said it identified the error “within minutes” and corrected it.

SpaceX owner and Tesla CEO Elon Musk (Image source: Bloomberg)

Musk sells Tesla shares worth $8.5 bln, says no more sales planned

April 29, 2022 20:21 IST

Tesla shares have fallen nearly 20% since Musk disclosed his over 9% stake in Twitter on April 4. Investors have expressed concern that Musk may have to sell Tesla shares to fund his equity contribution to the takeover offer.

Tesla signage inside at the Westfield Century City shopping mall in Los Angeles, California, U.S., on Easter Sunday, April 17, 2022. (Bloomberg)

Tesla stock drop wipes out $126 billion in one daySubscriber Only

April 27, 2022 11:03 IST

The electric-vehicle maker’s market capitalization is now down more than $275 billion since April 4, when Musk disclosed that he increased his Twitter stake. That’s a drop of roughly 23%.

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., April 4, 2022. (REUTERS/File Photo)

European shares edge up ahead of ECB meeting

April 14, 2022 14:40 IST

Ahead of the ECB's decision, due at 1145 GMT, the broader Euro STOXX 600 gained 0.1%, with French shares adding 0.4% and German stocks up up 0.2%.

GoTo makes strong debut, lifts mood for Indonesia tech sector

April 11, 2022 16:55 IST

PT GoTo Gojek Tokopedia Tbk was formed by last year's merger of ride hailing-to-payments company Gojek and e-commerce leader Tokopedia, with its businesses straddling millions of small and mid-sized firms across the archipelago.

Used cars at a wholesale auction at a Manheim site in Carleton, Mich., on Sept. 16, 2021. Economists are betting that supply chains for all kinds of goods will heal, shortages will ease and price gains will slow. Cars are a wild card in those forecasts. (The New York Times)

Few cars, lots of customers: Why autos are an inflation riskSubscriber Only

April 11, 2022 12:40 IST

Car prices have helped push inflation sharply higher over the past year, and economists have been counting on them to level off and even decline in 2022, allowing the rising consumer price index to moderate markedly.

The Federal Reserve building in Washington. (Stefani Reynolds/The New York Times)

Fed hikes rates, signals aggressive turn against inflation

March 17, 2022 00:03 IST

The statement dropped direct reference to the coronavirus pandemic but instead cited the war in Ukraine as creating "additional upward pressure on inflation" and weighing on economic activity.

Nickel briquettes sit in a bowl for a photograph at the BHP Group Ltd. Kwinana Nickel Refinery in Kwinana, Western Australia, Australia, on Friday, Aug. 2, 2019. (Bloomberg)

Fresh chaos for nickel as LME hit by glitch while prices plungeSubscriber Only

March 16, 2022 17:24 IST

Trading briefly restarted at 8 a.m. and nickel futures immediately fell through the 5% daily window before the market was suspended again. The exchange said it halted electronic trading to investigate the problem and will cancel a “small number” of transactions.

The Marriner S. Eccles Federal Reserve building in Washington, D.C., U.S., on Friday, Oct. 8, 2021. (Bloomberg)

Fed traders now fully pricing in seven standard hikes for 2022Subscriber Only

March 15, 2022 15:23 IST

The last time the market for overnight index swaps linked to Fed meeting dates fully priced that much tightening was on Feb. 11, the day after U.S. consumer-price inflation numbers for January came in hotter than expected, prompting investors to wager on more hawkish central bank policy.

FINA Order awarded to Russian President Vladimir Putin in 2014 has been withdrawn,

Moody’s and Fitch downgrade Russia’s rating to ‘junk’ grade following sanctions by West

March 3, 2022 16:53 IST

While Moody's Investors Service downgraded Russia's long-term issuer and senior unsecured (local-and foreign-currency) debt ratings to 'B3' from 'Baa3', Fitch pulled down the rating on the country to 'B' from 'BBB', putting it on 'Rating Watch Negative'.

Russia’s Sberbank to leave European market in face of outflows, safety risk

March 2, 2022 13:34 IST

The bank, set to unveil 2021 financial results later, said it was no longer able to supply liquidity to European subsidiaries, following a central bank order, but its capital level and asset quality were sufficient to pay all depositors.