Groton Selected as Navy awards $642M contract boost for Virginia class submarine work
Groton, CT – General Dynamics Electric Boat Corp. has secured a $642.3 million contract modification to continue design and support work for the Navy’s Virginia class submarine program, the Pentagon announced. Contract…
Drop in euro zone investor mood slows in October – survey
BERLIN (Reuters) – Investor morale in the euro zone fell less than expected at the start of October, with Germany’s economic weakness continuing to drag on the region but expectations rising slightly,…
Hedge funds sell energy stocks before Middle East conflict – Goldman
By Nell Mackenzie LONDON (Reuters) – Global hedge fund managers were selling U.S. stocks sensitive to commodities at an accelerated pace in the week ending October 6, according to a Goldman Sachs…
German industrial output falls in August, spurring recession fears
By Maria Martinez BERLIN (Reuters) -German industrial output shrank in August for the fourth consecutive month, the federal statistics office said on Monday, an indication that the sector remains under serious pressure,…
Evergrande offshore bondholders surprised by debt restructuring regulatory hurdles
By Scott Murdoch and Clare Jim SYDNEY (Reuters) – China Evergrande Group’s offshore bondholder group said on Monday it was surprised by the property developer’s recent announcement that its offshore debt restructuring…
Apollo, JB Capital preparing bid for Vodafone’s Spanish unit, Expansion says
MADRID (Reuters) – U.S.-based buyout fund Apollo Global Management is readying a bid with local fund JB Capital for the Spanish unit of telecom giant Vodafone, the Expansion newspaper reported on Monday…
Analysis-Argentina election lures risk-taking investors to long-odds gamble
By Rodrigo Campos NEW YORK (Reuters) – Argentina’s presidential race is enticing some risk-taking investors to place bets despite the long odds that a new government can steer South America’s second-largest economy…
Analysis-Europe’s Luxury stocks at risk of going out of style
By Lucy Raitano and Mimosa Spencer LONDON/PARIS (Reuters) – Europe’s luxury brands may have sparkled at Paris Fashion Week, but investors are questioning their taste for the shares in the face of…
China targets 50% growth in computing power in race against U.S
By Josh Ye HONG KONG (Reuters) – China aims to boost the country’s aggregate computing power by more than 50% by 2025, according to a plan released by authorities on Monday, as…
Commonwealth Bank of Australia cuts 192 back-office jobs, says trade union
(Reuters) – Australia’s biggest lender Commonwealth Bank of Australia will cut 192 jobs from its back office operations in Sydney, Melbourne and Perth, including some workers currently employed by BankWest, trade union…
Citigroup to sell China consumer wealth business to HSBC
(Reuters) -Citigroup Inc said on Monday it had agreed to sell its China consumer wealth portfolio, including clients, assets under management (AUM) and deposits, to Asia-focused HSBC Holdings Plc. The deal covers…
Beijing Hyundai Motor cuts asking price for China auto plant by 30%
SHANGHAI (Reuters) -Beijing Hyundai Motor has cut the minimum asking price for its auto plant in China’s southwestern city of Chongqing by almost 30%, to 2.58 billion yuan ($353.38 million), after putting…
Analysis-Tunisia faces rising pressure, record IMF delay over lack of reforms
By Jorgelina do Rosario LONDON (Reuters) – Tunisia reached a preliminary deal with the International Monetary Fund a year ago on a $1.9 billion loan programme, but 12 months later it has…
Trend hedge funds come out winners in bond market rout
By Nell Mackenzie LONDON (Reuters) -A fresh rout in government bonds has sparked alarm across world markets, battering equities. Yet in one corner of the hedge fund world, there’s a sigh of…
Abu Dhabi’s oil champion ADNOC bets on global expansion
By Maha El Dahan, Yousef Saba and Ron Bousso DUBAI (Reuters) -The United Arab Emirates is refashioning state-owned Abu Dhabi National Oil Company (ADNOC) in the image of an international oil major…
Marketmind: Oil jumps as Middle East strife shakes markets
A look at the day ahead in European and global markets from Wayne Cole. Asian action has been dominated by news from Israel, with the usual safe-haven suspects getting a bid. With…
Attack on Israel boosts appeal of gold, safe-haven assets
NEW YORK (Reuters) -The violence in Israel that erupted this weekend is prompting a move into safe-haven assets as investors closely watch events in the Middle East to gauge the geopolitical risk…
Israeli shekel falls to almost 8-year low
SINGAPORE (Reuters) – The Israeli shekel fell to an almost eight-year low against the U.S. dollar on Monday as conflict in the Middle East escalates. Fighters from Islamist group Hamas killed 700…
Column-Funds ramp up long dollar, short Treasuries bets: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) – Hedge funds have entered the final quarter of the year doubling down on two of their biggest macro conviction trades – short U.S. Treasuries and…
Global economy’s glide to ‘soft landing’ gets bumpy as bond yields jump
By Howard Schneider WASHINGTON (Reuters) -Rocketing U.S. government bond yields that have led to a global jump in borrowing costs are raising new risks for economic policymakers hoping to lower inflation without…
Walgreens pharmacy employees plan walkout at US stores, CNN reports
(Reuters) – Pharmacy employees at some U.S. Walgreens stores, including pharmacists, technicians and support staff, plan a walkout between Monday and Wednesday, CNN reported on Friday, citing an organizer. Some employees plan…
Evergrande’s $500 million EV share deal suspended, stock to resume trading
HONG KONG (Reuters) – A share sale plan between China Evergrande New Energy Vehicle Group, the electric-vehicle arm of embattled property developer China Evergrande and U.S.-listed NWTN has been halted, according to…
Australia’s $131 billion sovereign wealth fund chair will not seek another term
SYDNEY (Reuters) – The head of Australia’s A$206 billion ($131 billion) sovereign wealth fund had informed the Australian government he will not seek a third term, Treasurer Jim Chalmers said on Monday,…
Emerging economies face $220 billion in budget cuts amid debt crisis -Oxfam
LONDON (Reuters) – Some of the world’s poorest countries face budget cuts topping $220 billion over the coming five years due to a debt crisis that has pushed dozens to the brink…
Japan likely won’t intervene to reverse yen downtrend – ex-top FX diplomat
By Leika Kihara TOKYO (Reuters) – Japan likely won’t seek to reverse the yen’s downtrend with exchange-rate intervention as recent falls reflect economic fundamentals, former top currency diplomat Naoyuki Shinohara told Reuters.…
Embattled Metro Bank secures capital, Colombian billionaire Gilinski to take control
By Iain Withers and Anousha Sakoui LONDON (Reuters) -Embattled British bank Metro announced a 325 million pound ($396.5 million) capital raise and 600 million pound debt refinancing on Sunday, after a weekend…
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