China Vice Premier Liu soothes tech firms, supports overseas listings

China Vice Premier Liu soothes tech firms, supports overseas listings

China’s Vice Premier Liu He exits the office of the US Trade Representative following a morning round of negotiations on the second day of last ditch trade talks in Washington, US, May 10, 2019. REUTERS/Leah Millis/Files Register now for FREE unlimited access to Reuters.com Register SHANGHAI, May 17 (Reuters) – Chinese Vice Premier Liu He … Read more

Allianz to pay $6 billion in US fraud case, fund manager charged

Allianz to pay $6 billion in US fraud case, fund manager charged

NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the US Department of Justice and US Securities and … Read more

Musk seeks proof on share of spam bot on Twitter for deal to progress

Musk seeks proof on share of spam bot on Twitter for deal to progress

May 17 (Reuters) – Elon Musk said on Tuesday his $44 billion offer would not move forward until Twitter Inc (TWTR.N) shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company. “My offer was based on Twitter’s SEC filings … Read more

Walmart stores expected to post high shopper traffic amid deepening inflation pain

Walmart stores expected to post high shopper traffic amid deepening inflation pain

NEW YORK, NY, May 16 (Reuters) – Walmart Inc (WMT.N) is expected to show a steady rise in gross margins and revenue when it reports first-quarter results on Tuesday as price conscious shoppers, feeling the strain of persistent inflation , increase visits to the low-cost retailer. Walmart has averaged a 4.9% increase in monthly visits … Read more

JetBlue goes hostile to buy Spirit Airlines after rejection

JetBlue goes hostile to buy Spirit Airlines after rejection

CHICAGO/WASHINGTON, May 16 (Reuters) – JetBlue Airways Corp (JBLU.O) is not taking no for an answer in its quest to buy rival Spirit Airlines (SAVE.N). On Monday, the New York-based carrier launched a hostile all-cash takeover bid for Spirit Airlines, two weeks after the low-cost carrier rejected an offer from the larger rival. JetBlue, which … Read more

Exclusive: India’s Reliance to acquire dozens of brands in $6.5 billion consumer goods play

Exclusive: India's Reliance to acquire dozens of brands in $6.5 billion consumer goods play

Customers buy grocery items inside a superstore of Reliance Industries Ltd, in Mumbai, India, October 7, 2020. REUTERS/Niharika Kulkarni/File Photo Register now for FREE unlimited access to Reuters.com Register India retail giant plans big push in consumer goods business Reliance in late-stage talks with 30 brands for deals-source Indian firm is hiring distributors, executives for … Read more

Wall Street Week Ahead: Signs of market bottom elude investors after steep selloff

Wall Street Week Ahead: Signs of market bottom elude investors after steep selloff

‘Stock Exchange’ is seen over an entrance to the New York Stock Exchange (NYSE) on Wall St. in New York City, US, March 29, 2021. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 13 (Reuters) – Investors are studying an array of indicators for clues on how much further … Read more

EXCLUSIVE Maker of Walmart, Amazon store-brand infant formulas expects shortages through rest of 2022

EXCLUSIVE Maker of Walmart, Amazon store-brand infant formulas expects shortages through rest of 2022

Empty shelves show a shortage of baby formula at a Target store in San Antonio, Texas, US May 10, 2022. REUTERS/Kaylee Greenlee Beal Register now for FREE unlimited access to Reuters.com Register NEW YORK, May 13 (Reuters) – Perrigo Company PLC (PRGO.N), which makes store-brand baby formulas for retailers including Walmart Inc (WMT.N) and Amazon.com … Read more

EXCLUSIVE Tesla puts India entry plan on hold after deadlock on tariffs-sources

EXCLUSIVE Tesla puts India entry plan on hold after deadlock on tariffs-sources

NEW DELHI, May 13 (Reuters) – Tesla Inc (TSLA.O) has put on hold plans to sell electric cars in India, abandoned a search for showroom space and reassigned some of its domestic team after failing to secure lower import taxes, three people familiar with the matter told Reuters. The decision caps more than a year … Read more

Bitcoin eyes record losing streak as ‘stablecoin’ collapse crushes crypto

Bitcoin eyes record losing streak as 'stablecoin' collapse crushes crypto

Representations of the Ripple, Bitcoin, Etherum and Litecoin virtual currencies are seen on a PC motherboard in this illustration picture, February 14, 2018. REUTERS/Dado Ruvic/Illustration Register now for FREE unlimited access to Reuters.com Register SINGAPORE, May 13 (Reuters) – Cryptocurrencies nursed large losses on Friday, with bitcoin pinned below $30,000 and set for a record … Read more