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EV Aircraft company Vertical Aerospace announced last week that they would go public via a SPAC merger.
Stock futures traded lower Monday evening to give back some gains from the regular session, when both the Nasdaq and S&P 500 eked out record closing highs.
The head of Japan's financial watchdog said he was disappointed by the global fallout from the collapse of investment fund Archegos Capital Management despite past regulatory reforms. "Although the problem didn't result in the collapse of financial system, it's very disappointing such a major incident happened," Ryozo Himino, Financial Services Agency (FSA) Commissioner, said in an online speech. Global banks including Credit Suisse and Nomura Holdings Inc reported losses from Archegos, taking the total hit beyond $10 billion.
TOKYO (Reuters) -Oil prices rose on Tuesday, with Brent gaining for a fourth consecutive session, as the prospect of extra supply coming to the market soon from Iran faded with talks dragging on over the United States rejoining a nuclear agreement with Tehran. Brent crude was up by 38 cents, or 0.5%, at $73.24 a barrel by 0651 GMT, having risen 0.2% on Monday. U.S. oil gained 33 cents, or 0.5%, to $71.21 a barrel, having slipped 3 cents in the previous session.
(Bloomberg) -- Saks, newly minted as a standalone e-commerce business that’s separate from the Saks Fifth Avenue department stores, is adding NBA star James Harden to its board.Harden, who plays for the Brooklyn Nets and has led the league in scoring three times, is also making a minority investment in Saks. His business portfolio spans several consumer categories, including products with BodyArmor drinks, Stance socks and Pura fragrances. He also has a sneaker and apparel line with Adidas.“I’ve
The chief executive of Rolls-Royce has come under fire for remarking that its workforce is “frankly a bit too old”. Speaking at a technology conference in London, Warren East said one of the challenges he faced when he joined the jet engine maker was its older workforce. His comments were in response to a question about inspiring young engineers at the company and ensuring it had an “exciting” atmosphere. However, the remarks sparked a furious backlash with critics calling his comments "disgrace
(Bloomberg) -- Many of the issues thrown up in the transition away from sterling Libor appear to have been addressed, Bank of England Governor Andrew Bailey said Monday, delivering a confident assessment of the U.K.’s exit from the discredited benchmark.Britain, the home of Libor, is making faster progress than the U.S. and Japan. U.K. replacement rate Sonia, the Sterling Overnight Index Average, has seen widespread take-up the derivatives market, and firms were instructed in April to stop issui
(Bloomberg) -- The size and type of defaults that have occurred in China in recent times indicate that the notion of “too big to fail” may no longer apply to the nation’s borrowers, according to Goldman Sachs Group Inc.There has been a noticeable up-tick in defaults by Chinese state-owned enterprises since late 2019 and some of the borrowers that have failed to repay debt recently such as China Fortune Land Development Co. have had large amounts of outstanding bonds, analysts including Kenneth H
The latest proposal from Oaktree is for a A$2 billion private loan and a A$1.1 billion loan convertible into new shares to be issued by Crown, the company said in a statement. Oaktree's offer is slightly higher than the A$3 billion in funding it offered in April to help Crown buy back James Packer's 37% stake. Australian casino operator Star Entertainment Group had offered an all-stock buyout of the troubled company valued at A$9 billion, while rival buyout giant Blackstone Group upped its all-cash indicative bid to A$8.4 billion.
The classic mix of stocks and bonds may be a relic of an age long past.
Lordstown Motors executives should be hanging their heads in shame right about now.
India's antitrust watchdog plans to expedite a restarted probe into allegations of anti-competitive behaviour at Amazon.com Inc and Walmart Inc's Flipkart, as it intensifies scrutiny of big-tech firms, two people close to the matter said. The comments come as major U.S. technology firms including Twitter Inc and Facebook Inc are at loggerheads with the government over issues such as data privacy bills and policies some industry executives have called protectionist. The Competition Commission of India (CCI) initiated a probe in January last year on the basis of a complaint alleging Amazon and Flipkart promoted select sellers on their e-commerce platforms and that deep discounts stifled competition.
Dubai's stock market is set for another delisting, raising a question mark over the future of one of the Gulf's major exchanges, which was launched two decades ago. A $595 million bid to take DAMAC Properties private by the firm's founder Hussain Sajwani is the latest blow to the exchange, even as the Gulf city state's property market showed signs of life in the first quarter. Majeed said Dubai needs to work harder to attract listings amid growing competition from within the Gulf region such as Abu Dhabi and Saudi Arabia where Tadawul, the region's biggest exchange based on market value, wants to become a regional hub.
(Bloomberg) -- Members of the Walton family have sold 16.7 million shares of Walmart Inc. this year as they try to keep their stake in the world’s biggest retailer from ballooning amid the company’s stock buybacks.The Walton Family Holdings Trust sold $430 million worth over the past week, taking their total sales to almost $2.1 billion since Jan. 1, according to Securities and Exchange Commission filings. The notifications were filed on behalf of second-generation family members Alice, Rob and
(Bloomberg) -- Gold declined to near the lowest level in four weeks as the U.S. dollar and bond yields rebounded ahead of a key Federal Reserve meeting.The yield on 10-year Treasuries steadied following a rise to 1.49% on Monday after hitting three-month lows on Thursday. This damped the appeal of the non-interest-bearing precious metal. Investors will be looking to the Fed gathering, which starts Tuesday, for signals on a timeline for paring down emergency stimulus.Bullion’s retreat from the hi
Gold traders will closely scrutinize the Fed’s evolving outlook on unemployment, inflation, economic growth and when it may start raising rates.
LONDON/SINGAPORE (Reuters) -Bitcoin climbed above $40,000 on Monday, after yet another weekend of price swings following tweets from Tesla boss Elon Musk, who fended off criticism over his market influence and said Tesla sold bitcoin but may resume transactions using it. Bitcoin has gyrated to Musk's views for months since Tesla announced a $1.5 billion bitcoin purchase in February and said it would take the cryptocurrency in payment.
Stocks traded sideways on Monday in a muted start to the week, as traders awaited a key monetary policy decision from the Federal Reserve.
(Bloomberg) -- The world’s top makers of Covid-19 vaccines dropped after tests of Novavax Inc.’s shots showed they were 90% effective at preventing symptoms.Stocks tied to inoculations already cleared for emergency use fell in Monday trading, led by Moderna Inc closed down 5.2% after dropping 9.5% intraday. Pfizer Inc. fell 1.3% and the drugmaker’s German partner BioNTech SE dropped 7.5%. Consumer giant Johnson & Johnson reversed earlier losses to close up 0.3%, slightly more than the S&P 500 in