LONDON (Reuters) – Growth in Britain’s construction industry sped up sharply in July after the Labour Party’s landslide election win, with activity growing at the fastest pace in more than two years, according to a survey published on Tuesday. The S&P Global UK Construction Purchasing Managers’ Index leapt to 55.3 – the highest since May …
UK construction sector kicks up a gear after election, PMI shows Read More »
By David Shepardson and Mike Scarcella WASHINGTON (Reuters) – Alphabet’s Google broke the law with an illegal monopoly on online search, a federal judge ruled on Monday, the first big win for U.S. antitrust authorities who have filed several lawsuits challenging Big Tech’s market dominance. The ruling paves the way for a second trial to …
Google has an illegal monopoly on search, US judge finds Read More »
SANTIAGO (Reuters) – Australian miner BHP has requested mediation by the Chilean government with the union representing workers at its Escondida mine, the company said on Monday, a move aimed at avoiding a potential strike at the world’s largest copper project. BHP noted in a statement that the mine is operating normally and that the …
Miner BHP requests state mediation with Escondida union in Chile Read More »
By Aditya Soni (Reuters) -Apple and other heavyweight companies sold off on Monday as U.S. recession fears and Berkshire Hathaway’s sale of half of its stake in the iPhone maker further deflated a months-long rally fueled by optimism about AI. Apple, Tesla, Alphabet and Amazon each dropped more than 4%, while Nvidia tumbled 7%, and …
Magnificent Seven set to shed $800 billion in value Read More »
By Nell Mackenzie and Yoruk Bahceli LONDON (Reuters) – A meltdown in world equity markets in recent days is more reflective of a wind-down of carry trades used by investors to juice their bets than a hard and fast shift in the U.S. economic outlook, analysts say. While Friday’s weaker-than-expected U.S. jobs data was the …
Analysis-Global market rout has more to do with end of cheap funding than US economy Read More »
By Valentina Za MILAN (Reuters) – Global private credit firms, including industry leader Ares Management, are increasingly focused on Italy as more small businesses which are the backbone of its economy open up to outside investors, providing buyout deal opportunities. With 140 direct lending deals completed over the past 45 quarters, Italy accounts for just …
Ares Management leads private credit drive in Italy Read More »
By Louis van Boxel-Woolf (Reuters) -Shares in Aurubis fell as much as 8.8% on Monday after third-quarter earnings at Europe’s largest copper producer missed expectations. The group’s quarterly earnings before tax (EBT) rose five-fold to 90 million euros ($98 million) from the same period last year, which was affected by a major metals theft at …
Copper producer Aurubis slides after Q3 earnings miss Read More »
(Reuters) – Britain’s auto industry body cut its 2024 forecast for new car sales on Monday, saying weak private retail demand for electric vehicles (EVs) is an overriding concern. New car sales this year are expected to be at 1.97 million units, down from an earlier forecast of 1.98 million units, the Society of Motor …
UK car industry body cuts 2024 sales forecast on weak EV demand Read More »
By Olivier Cherfan (Reuters) – Dutch postal firm PostNL beat expectations for second-quarter operating profit on Monday, supported by higher prices and an election-related boost to domestic mail volumes. Its shares fell initially following a miss in parcel volumes, but quickly reversed course to trade 5.2% higher by 0837 GMT. PostNL, which delivers parcels and …
PostNL beats Q2 profit forecast on election boost, higher prices Read More »
By Pranav Kashyap (Reuters) -European shares fell to near six-month lows amid a global selloff in equities on fears of a slowdown in U.S. economic growth, with only a handful of stocks trading in the green. The pan-European STOXX 600 index was down 2.2% to 487.15 points, its lowest since Feb. 14, by 0827 GMT. …
European stocks drop as U.S. recession worries spark global selloff Read More »
