Starbucks plans about 9,000 China outlets by 2025
(Reuters) – Starbucks Corp said on Tuesday it plans to have about 9,000 stores in China by 2025, a 56% increase from its current count. …
Financial News
Twitter shareholders vote in favor of Elon Musk’s $44 billion offer
(Reuters) -Twitter Inc’s shareholders approved a $44 billion buyout by Elon Musk on Tuesday, handing over the deal’s outcome to a court battle in which …
U.S. SEC charges Oppenheimer, BNY, Jefferies and TD over municipal bond disclosures
(Reuters) – The U.S. Securities and Exchange Commission (SEC) on Tuesday said it had charged Oppenheimer & Co, BNY Mellon, TD Securities and Jefferies, with …
Nikola founder lied to investors about tech, prosecutor says in fraud trial
By Jody Godoy NEW YORK (Reuters) -Nikola Corp founder Trevor Milton became a billionaire by lying to investors about the most important aspects of his …
Canada’s Trudeau announces C$4.5 billion inflation relief package for low earners
By Ismail Shakil and Steve Scherer OTTAWA (Reuters) -Canadian Prime Minister Justin Trudeau announced C$4.5 billion ($3.43 billion) in measures on Tuesday intended to provide …
Deutsche Bank’s IPB unit hires new director in Americas
(Reuters) – Deutsche Bank’s International Private Bank unit in the Americas hired Hedieh Bolour as a director based in Los Angeles, according to an internal …
Analysis-U.S. midterm elections may add more risk to shaky stock market
By Lewis Krauskopf NEW YORK (Reuters) – Another source of potential stock market volatility looms in an already tough year for Wall Street: an approaching …
Morgan Stanley says rise in interest rates hurts mortgage demand
(Reuters) – Morgan Stanley has seen moderation in loan growth and a lower mortgage demand due to rising interest rates, co-President Andrew Saperstein said in …
JPMorgan says will be careful about banker cuts amid investment banking downturn
By Saeed Azhar and Lananh Nguyen NEW YORK (Reuters) – JPMorgan Chase & Co will maintain caution on its staffing levels despite the recent downturn …
UBS CFO sees increased client caution as global economy slows
ZURICH (Reuters) -UBS is seeing increased caution among its clients as worries about the slowing global economy, rising inflation and energy prices hit investor confidence, …
Honda considers listing electric motorcycle business – WSJ
(Reuters) – Honda Motor Co Ltd is considering taking its electric motorcycle unit public, the Wall Street Journal reported on Tuesday, citing the Japanese manufacturer’s …
AC Milan investor drops efforts to freeze club sale in Italian court
MILAN (Reuters) -Blue Skye Financial Partners, a minority investor in Italian soccer champions AC Milan, have dropped efforts in an Italian court to try to …
European shares slide as U.S. inflation hots up
By Shreyashi Sanyal and Susan Mathew (Reuters) -European shares tripped 1.6% on Tuesday, retreating from two-week highs hit earlier in the session, as hotter than …
How China became big business for Twitter, from blocking to blue checks
By Fanny Potkin, Eduardo Baptista and Tony Munroe SINGAPORE/BEIJING (Reuters) -Even as China bars 1.4 billion citizens from Twitter, its local authorities are splurging on …
Indian states step up relief measures for households battling inflation
By Manoj Kumar and Jose Devasia NEW DELHI/KOCHI (Reuters) – At least 10 Indian states have announced over 1 trillion rupees ($12.6 billion), mainly in …
Key U.S. poverty measure hit record low in 2021 largely due to federal aid
(Reuters) -A key measure of how many Americans lived in poverty in 2021 fell to a record low thanks in large part to federal government …
Monte dei Paschi’s junior debt rallies on Anima’s support for cash call
MILAN (Reuters) – Junior bonds in Monte dei Paschi di Siena (MPS) rallied on Tuesday, adding to the previous day’s gains, supported by news of …
Google faces $25.4 billion damages claims in UK, Dutch courts over adtech practices
By Foo Yun Chee BRUSSELS (Reuters) – Alphabet unit Google will face damages claims for up to 25 billion euros ($25.4 billion) over its digital …
Boeing deliveries rose in August as it resumed 787 handovers
By David Shepardson WASHINGTON (Reuters) – Boeing jetliner deliveries rose in August to 35 airplanes as the U.S. planemaker resumed handovers of its 787 Dreamliner …
Wells Fargo CFO says there will be stress as economy slows
By Saeed Azhar and Mehnaz Yasmin NEW YORK (Reuters) -Wells Fargo & Co is seeing loan growth moderating after strong growth so far this year …
Argentina inflation, heading towards 100%, seen easing back from July peak
By Hernan Nessi BUENOS AIRES (Reuters) – Argentina’s inflation rate, heading towards 100% this year, likely eased in August versus a 20-year peak the month …
Biden touts ‘Cancer Moonshot’ on JFK speech anniversary in Boston
By Nandita Bose and Trevor Hunnicutt BOSTON (Reuters) -President Joe Biden signed orders on Monday to push more government dollars to the U.S. biotechnology industry, …
Swiss economy grows 0.3% in Q2 as services shine
(This Sept. 5 story corrects to show year-on-year growth of 2.4%, not 2.8%, and comparative Q1 numbers after SECO corrects data) ZURICH (Reuters) – The …
Ramsay Health says KKR-led group unwilling to sweeten $14.5 billion offer
By Scott Murdoch and Sameer Manekar (Reuters) -A KKR-led consortium has told Australia’s Ramsay Health Care it will not improve its $14.5 billion cash-and-stock offer …
Auto parts supplier Aptiv to acquire 85% of Intercable unit in EV tech push
(Reuters) -Auto parts supplier Aptiv Plc said on Tuesday it would acquire a majority stake in a unit of Italy’ Intercable for 595 million euros …
Investors with $39 trillion urge government to plan fossil fuel phase out
By Ross Kerber and Simon Jessop BOSTON/LONDON (Reuters) – Investors managing $39 trillion have called on governments to raise their climate ambition, including setting plans …
U.S. coffee chains’ sales rise 10% to near pre-pandemic levels -report
By Marcelo Teixeira NEW YORK (Reuters) – Sales by branded coffee shops in the United States increased 10% in the 12 months to June 2022 …
Indonesia to review minimum wage rules after protests over fuel price hike
JAKARTA (Reuters) – Indonesia will review minimum wage and other labour rules, the president’s office said on Tuesday, after trade unions staged nation-wide protests against …
Hot US Aug CPI seen cementing aggressive FOMC
NEW YORK (Reuters) – Monthly U.S consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent …
Gen Z struggles to save as inflation refuses to stop trending
(Reuters) – Gen Z is struggling to save and meet its financial goals in a world gripped with decades-high inflation and challenging economic conditions, a …
Chip tech startup SiFive launches products aimed at automotive market
By Jane Lanhee Lee (Reuters) – Silicon Valley startup SiFive Inc on Tuesday launched three new products aimed at the automotive market, which is emerging …
Brazil services activity up 1.1% in July, beats expectations
SAO PAULO (Reuters) – Services activity in Brazil rose 1.1% in July from June, the country’s statistics agency IBGE said on Tuesday, above the median …
Polish PM flags higher minimum wage increases in 2023
WARSAW (Reuters) – Poland will raise the minimum wage twice next year and by more than previously planned, Prime Minister Mateusz Morawiecki said on Tuesday, …
Inditex founder Amancio Ortega to buy U.S. warehouses for $905 million
MADRID (Reuters) – Spanish billionaire and Zara founder Amancio Ortega is in talks to buy several warehouses in the United States rented by global firms …
Global economy may avoid recession as inflation risks ease – J.P. Morgan
(Reuters) – The global economy could avert a recession as data points to a potential soft landing, J.P. Morgan analysts said, while adding that the …
Rent the Runway shares sink as inflation-weary subscribers hit pause
By Deborah Mary Sophia and Mehr Bedi (Reuters) – Shares of Rent the Runway plunged more than 22% before the bell on Tuesday, as more …
Bayer has started search for successor for CEO Baumann -Bloomberg
FRANKFURT (Reuters) – Bayer’s supervisory board has initiated a search for a successor to Chief Executive Werner Baumann, who has said he would not seek …
Former Disney chief Iger to join VC firm Thrive Capital
(Reuters) – Thrive Capital said on Tuesday that Walt Disney Co’s former top boss, Robert Iger, will join the investment firm as a venture partner. …
Credit Suisse exec: Swiss bank not main focus for cost savings
ZURICH (Reuters) – Credit Suisse’s Swiss unit has become more efficient and growth focused in recent years and will thus be hit less by restructuring …
Traton sells some assets in Russia, incurs 550 million euro loss
FRANKFURT (Reuters) – Volkswagen’s truck division Traton on Tuesday said some of its divisions were disposing assets in Russia, a move that will cause a …
Bank of England to raise rates by 50bps again to tame inflation: Reuters Poll
By Jonathan Cable LONDON (Reuters) – The Bank of England looks set to hike borrowing costs by another 50 basis points next week, although it …
UK unemployment hits lowest since 1974 but jobs boom is fading
By William Schomberg and David Milliken LONDON (Reuters) -Britain’s jobless rate hit its lowest since 1974 but the drop was due mostly to a fall …
Bank capital rules for cryptoassets due by year end
By Huw Jones LONDON (Reuters) -The global Basel Committee of banking regulators will complete work on “robust” rules for how banks must set aside capital …
Pyrenees pipeline puts EU energy divisions in stark relief
By Andreas Rinke, Belén Carreño and Michel Rose PARIS/MADRID/BERLIN (Reuters) -French scepticism about a new gas pipeline across the Pyrenees highlights the competing visions for …
Two Peloton co-founders leave amid massive restructuring
(Reuters) -Peloton Interactive Inc co-founders John Foley and Hisao Kushi are stepping down from their executive roles, at a time the troubled exercise bike maker …
U.S. small business sentiment rises in August- NFIB
WASHINGTON (Reuters) – U.S. small-business confidence improved in August as worries about inflation subsided and demand for workers remained strong despite the uncertainty shrouding the …
Bank of America sees BoE raising rates to 4% by Aug 2023
LONDON (Reuters) – Bank of America revised up its forecast for the peak in Bank of England interest rates to 4% on Tuesday from a …
Marketmind: Great expectations
A look at the day ahead in U.S. and global markets from Mike Dolan. If reining in inflation expectations is the U.S. Federal Reserve’s main …
JPMorgan upbeat on Greek banks, upgrades Piraeus to ‘overweight’
ATHENS (Reuters) – JPMorgan upgraded Piraeus Bank to “overweight” and said it was positive on Greece’s four big banks in a research report published on …
Analysts cut 12-month earnings forecasts for Asian corporates on lower manufacturing
(Reuters) – Analysts have cut their 12-month earnings forecasts for Asian companies over the past month, undermined by a dip in manufacturing activity and concerns …