Article content Starboard Value LP has taken a stake in Salesforce Inc, CNBC reported, citing the activist investment firm’s founder Jeff Smith. Shares of the software firm, which fell about 42% this year, rose more than 7% in trading before the bell. Article content The hedge fund did not disclose the size of the stake […]
Article content BERLIN — German prosecutors have searched the headquarters of Deutsche Bank in connection with an ongoing investigation of the multibillion-euro tax fraud scheme known as “cum-ex,” Deutsche Bank said on Tuesday. Deutsche is one of many banks that prosecutors have searched in connection with the tax scheme that thrived more than a decade […]
Article content LONDON — BlackRock, the world’s biggest asset manager, has set up a unit called Transition Capital to invest in opportunities linked to the global shift to a low-carbon economy, a memo to staff seen by Reuters showed. BlackRock, which manages around $8 trillion in assets, said Transition Capital would work with portfolio managers […]
Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Reuters Dawn Chmielewski Article content Short-video platform Triller Inc is the latest company to stake its claim in the metaverse with the launch Monday of a new platform called Metaverz. Triller said its Metaverz provides virtual spaces where users can gather to watch live […]
Article content U.S. stock indexes were set to rise on Monday as Bank of America led gains among lenders after better-than-expected results that were underpinned by the Federal Reserve’s rapid rate hikes. Bank of America Corp rose 2.8% in premarket trading as the lender benefited from higher net interest income in its third quarter, even […]
Breadcrumb Trail Links PMN Technology PMN Business Author of the article: Reuters David Randall Article content NEW YORK — Gut-wrenching market volatility and attractive valuations are prompting some investors to keep their bullish views on energy stocks, one of the few bets that have thrived in an otherwise punishing year. It’s not an easy call. […]
Article content BEIJING — China’s securities regulator is considering easing rules for overseas mutual funds when short-term trading in China-listed A-shares, in a bid to attract foreign investment, the Shanghai Securities News reported on Sunday. Currently, Article content funds holding 5% or more of a China-listed company must give up gains from short-term trading – […]
Article content WARSAW — Polish pipeline operator PERN said on Saturday that the pumping of crude oil in the damaged Druzhba pipeline has been restored. “PERN’s technical services restored the full functionality of the damaged pipeline used to deliver crude oil to the company’s German customers on Saturday,” PERN said in a statement. (Reporting by […]
Article content MILAN — U.S.-based Global Infrastructure Partners (GIP) is in exploratory talks with Italian shipping group MSC for a possible investment in GIP’s railway operator Italo, two Italian newspapers reported on Saturday. The infrastructure fund bought Italo, which runs the popular Rome-Milan route among others, for around 2 billion euros ($1.94 billion) back in […]
Article content WASHINGTON — The European Central Bank (ECB) needs several more rate hikes to tame inflation despite what is likely to be a deep recession in Germany, and should also look into scaling down its balance sheet, Bundesbank President Joachim Nagel said on Saturday. The ECB has raised rates twice already this year, but […]