STOCKHOLM (Reuters) -Norway’s $1.6 trillion sovereign wealth fund, one of the world’s largest investors, said on Thursday it would vote in favour of a proposal letting NatWest buy back more of its stock from the British government, amid efforts to speed up privatisation. Ahead of its annual meeting on April 23, lender NatWest has asked …
Norway wealth fund backs NatWest plan to buy more state-owned stock Read More »
By Tom Sims FRANKFURT (Reuters) – Building permits for apartments in Germany fell 18.3% in February from a year earlier, government data on Thursday showed, underscoring a continued downturn in demand in the construction and real estate industry. Germany has been jolted by the most severe slump in the property sector in decades. Some 18,200 …
German home building permits tumble 18% in February, extending rout Read More »
(Reuters) – Credit ratings firm Equifax forecast on Wednesday its second-quarter revenue below estimates after strong economic data boosted chances of rates staying higher-for-longer, potentially delaying a recovery in the mortgage market. Shares of the Atlanta, Georgia-based company fell 6.4% in extended trading. U.S. job growth was above expectations in March and wages also increased …
Equifax sees second-quarter revenue below estimates as rates remain high Read More »
By Stephen Nellis (Reuters) – Cadence Design Systems on Wednesday introduced the latest version of supercomputer based around a custom computing chip designed to speed up the creation of other computing chips and the software that will run on them. Cadence makes software that Nvidia, Apple and many other companies use to design chips with …
New Cadence supercomputers aim to speed creation of chips, software Read More »
By Nichola Groom and Jarrett Renshaw (Reuters) -The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans said on …
Exclusive-US plans to restore tariffs on dominant solar technology, sources say Read More »
(Reuters) -Tesla will lay off 285 employees in Buffalo, New York, as part of its plans to trim 10% of its global workforce, the electric-vehicle maker said in a legally mandated notice on Wednesday. Under pressure from falling sales and an intensifying price war for EVs, Tesla announced its latest round of jobs cuts on …
Tesla layoffs include 14% of Buffalo workers, WARN notice shows Read More »
(Reuters) -Pipeline and terminal operator Kinder Morgan on Wednesday reaffirmed its annual profit outlook and said it expects demand for natural gas to grow substantially between now and 2030. The Houston, Texas-based company had said in January it continues to have a bullish outlook for natural gas demand due to demand from LNG export facilities …
Kinder Morgan meets profit estimates on strength in natural gas pipeline segment Read More »
WASHINGTON (Reuters) – The International Monetary Fund, World Bank and current G20 president Brazil said on Wednesday there had been significant progress on global debt issues in recent months, citing new agreements on desired timelines and comparability of treatment. IMF Managing Director Kristalina Georgieva, World Bank President Ajay Banga and Brazilian Finance Minister Fernando Haddad …
IMF, World Bank cite significant progress in debt restructuring cases Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks fell in choppy trading on Wednesday as investors assessed the Federal Reserve’s interest rate stance and a batch of soft earnings early in the financial reporting season. Travelers tumbled 7.41% and was among the biggest drags on the S&P 500 and largest on the Dow Industrials after …
Stocks decline as interest rate uncertainty, earnings weigh Read More »
(Reuters) -The U.S. Department of Transportation’s watchdog is looking into the Federal Aviation Administration’s oversight of Boeing’s manufacturing of 737s and 787s, Semafor reported on Wednesday. “It’s very healthy for the (Office of Inspector General) to be constantly auditing everything that happens across the DoT,” the report quoted U.S. Transportation Secretary Pete Buttigieg as having …
