Tamboran Resources Announces 6.5M Share IPO $24-$27/sh
The Biden administration is investigating China Mobile (NYSE:CHL), China Telecom (NYSE:CHA) and China Unicom (NYSE:CHU) over concerns the firms could exploit access to American data through their U.S. cloud and internet businesses by providing it to Beijing, three sources familiar with the matter said. The companies still have a small presence in the United States, […]
Morgan Stanley: Soft growth is a risk for US stocks
Morgan Stanley analysts warn that slowing economic growth poses a risk for US stocks, particularly for cyclical and value-oriented sectors. The bank’s note highlights the importance of focusing on large-cap quality and defensive stocks in this environment. “With economic surprise indices and bond yields falling, many stocks are now becoming more sensitive to softer growth […]
Australia’s Tabcorp appoints former AFL boss Gillon McLachlan as CEO
Australian gambling services firm Tabcorp Holdings on Monday appointed former Australian Football League (AFL) boss Gillon McLachlan as its chief executive and managing director. The appointment comes months after former chief Adam Rytenskild resigned over allegedly using “offensive” and “inappropriate” language at the workplace and as the firm navigates a strategic transformation amid heightened competition […]
EU regulators to decide on Bunge and Viterra’s $34 billion deal by July 18
U.S. grains merchant Bunge (NYSE:BG) and Glencore-backed Viterra’s plan to create a $34 billion agricultural trading giant will be decided by EU antitrust regulators by July 18, a European Commission filing showed on Monday. The companies announced their merger a year ago to rival global giants Archer-Daniels-Midland and Cargill. The Commission, which acts as the EU competition […]
Active equity outflows hit high for year last week: Jefferies
– U.S. retail investors shunned active equity funds cashing on their position in the seven days through Jun. 12, in what was the largest outflow of the year ahead of the last week’s Federal Reserve policy decision. During the week ended Jun. 12, retail investors pulled $2.6 billion from US equity funds, reversing the prior week’s inflows of […]
Microsoft extends rally with a record-breaking stock market value
** Shares of Microsoft (NASDAQ:MSFT) climb 1.3%, ending the session with a market cap of $3.33 trln, a record for any co, while Apple (NASDAQ:AAPL) and Nvidia (NASDAQ:NVDA) were close behind ** AAPL ahead of MSFT for part of the session before falling behind by the close ** The three cos remain in tight contention […]
Stocks, US yields gain as data, Fed comments eyed
A gauge of global stocks rose for the first time in three sessions on Monday, powered by a rally in U.S. equities, while U.S. Treasury yields climbed after a sharp drop in the prior week as investors awaited comments from Federal Reserve officials. On Wall Street, U.S. stocks slowly gained steam after a sluggish start […]
UBS sets aside $900 million to repay investors in collapsed Greensill funds
UBS will set aside around $900 million to repay investors in Credit Suisse funds that were linked to collapsed supply chain financing firm Greensill Capital, accounting for 90% of what they are owed, UBS said on Monday. The bank has been seeking to resolve issues it inherited when it acquired Credit Suisse last year after […]
Bernstein starts MicroStrategy at Outperform, sees 95% upside in stock
Analysts at Bernstein started research coverage on MicroStrategy (MSTR) with an Outperform rating and a price target of $2,890, which implies roughly 95% upside from the stock’s latest closing price. In its note, the investment firm said MicroStrategy is “building the world’s largest Bitcoin company.” “Since August 2020, MSTR has transformed from a small software […]
Trafigura agrees to pay $55 million to settle CFTC charges
A unit of global commodities trader Trafigura has agreed to pay a $55 million civil fine to settle U.S. Commodity Futures Trading Commission charges of fraud, manipulation and impeding whistleblower communications. Trafigura Trading LLC, a Houston firm that is part of Trafigura Beheer BV, violated U.S. law and regulations by trading gasoline with material nonpublic […]