WASHINGTON (Reuters) – The International Monetary Fund (IMF) and Ukrainian authorities have reached a staff-level agreement on a fourth review of the 4-year Extended Fund Facility Arrangement, the IMF said on Friday. Ukraine would have access to about $2.2 billion under the agreement, subject to approval by the IMF’s executive board, the fund said in …
Ukraine, IMF reach staff-level agreement on loan review Read More »
By Medha Singh (Reuters) -Nvidia could soon surpass Apple to become the world’s second-most valuable company, as the biggest beneficiary of the surge in adoption of AI applications takes on the iPhone maker that has been the largest Wall Street firm by market value for years. The reliance of virtually all artificial intelligence applications such …
Nvidia set to overtake Apple as world’s second-most valuable company Read More »
LONDON (Reuters) – The British public’s expectations for inflation over the next year fell to 3.1% in May, the lowest level since July 2021, a monthly Citi/YouGov survey said on Friday. Expectations for inflation five to 10 years ahead fell sharply to 3.2% from 3.5%, the joint lowest level since March 2021, the survey found. …
UK public’s 12-month inflation outlook falls to 3.1% -Citi/YouGov Read More »
MADRID (Reuters) – Spanish bank BBVA’s shareholders will vote on July 5 on whether to approve a share issue to fund its 12 billion euro ($13 billion) hostile takeover bid for smaller rival Banco Sabadell. The bank wants to issue 1.126 billion new shares, which at BBVA’s closing price of 10.9 euros on April 29 …
BBVA sets July 5 for vote on share issue to fund Sabadell bid Read More »
GENEVA (Reuters) -The annual motor show in Geneva, Switzerland, is coming to a close after more than a century due to dwindling interest and a tough market environment, organisers said on Friday. First staged in 1905, the Geneva International Motor Show has been a fixture of new vehicle launches, mainly in Europe, attracting at least …
Geneva’s annual motor show to end after more than a century Read More »
By Pranav Kashyap and Purvi Agarwal (Reuters) -London stocks closed higher on Friday, logging a third straight month of gains, as investors cheered an in-line inflation reading from the U.S. that brought back some hopes of a September rate cut by the Federal Reserve. The blue-chip FTSE 100 index rose 0.5%, while the mid-cap FTSE …
LONDON (Reuters) – A majority of Glencore investors have indicated they were satisfied with the commodities giant’s plans to reduce carbon emissions, just as it gets closer to completing its acquisition of Teck Resources’ steelmaking coal business. Just 10% of investors rejected Glencore’s 2024-2026 Climate Action Transition Plan at the annual general meeting on Wednesday, …
Glencore’s climate action plan wins more support from shareholders Read More »
By Shubham Batra and Shashwat Chauhan (Reuters) -European shares rose on Friday after softer U.S. inflation data spurred hopes of interest rates cuts by the Federal Reserve, while June rate cut bets for the euro zone remained intact despite hotter than expected inflation figures from the region. The pan-European STOXX 600 index closed 0.3% higher, …
European shares rise after US inflation data keeps Fed rate cut hopes alive Read More »
By Toby Sterling CATANIA, Italy (Reuters) -The European Commission on Friday approved Italian state aid for STMicroelectronics to build a 5 billion euro ($5.4 billion) chip plant, as Europe battles to reduce its reliance on Asian imports for vital manufacturing components. The plant in Catania, Sicily, will receive a direct grant of about 2 billion …
EU approves Italian aid for $5.4 billion STMicro chip plant Read More »
(Reuters) – Tesla shareholders will vote on CEO Elon Musk’s $56 billion pay package on June 13 that a Delaware judge voided in January, calling the sum “unfathomable” and because she found the billionaire improperly controlled the process. Musk’s proposed pay package, the largest in corporate America, has no salary or cash bonus and sets …
