SEOUL/NEW YORK (Reuters) – Hyundai Motor Group will invest $1.6 billion in a joint venture to develop self-driving vehicle technologies with Aptiv (APTV.N), the biggest overseas investment by the South Korean carmaker to catch up to rivals in the autonomous car market. FILE PHOTO: The logo of Hyundai Motor is Continue Reading
billion
China strikes back at U.S. with new tariffs on $75 billion in goods
BEIJING (Reuters) – China said on Friday it will impose retaliatory tariffs against about $75 billion worth of U.S. goods, putting as much as an extra 10% on top of existing rates in the dispute between the world’s top two economies. The latest salvo from China comes after the United Continue Reading
London Stock Exchange in talks to buy Refinitiv for $27 billion
LONDON/NEW YORK (Reuters) – The London Stock Exchange Group Plc (LSE.L) said on Friday it was in discussions to acquire financial data analytics provider Refinitiv Holdings Ltd for $27 billion, including debt. FILE PHOTO: An advertisement for Refinitiv is seen on a screen in London’s Canary Wharf financial centre, London, Continue Reading
Investors pull $1.5 billion from India equities so far in July: IIF
NEW YORK (Reuters) – Non-residents have pulled about $1.5 billion from Indian equities so far in July, reversing a strong trend of inflows in previous months, data from the Institute of International Finance showed on Wednesday. “Unlike other episodes, which mostly coincided with broader (emerging market) outflows such as Continue Reading
U.S. equity funds add $1.7 billion ahead of Fed chair testimony: BAML
LONDON (Reuters) – Investors pumped money into bonds and equities in the week to Wednesday with U.S. stock funds adding $1.7 billion, Bank of America Merrill Lynch said on Friday, as markets tried to weigh hopes for major central bank stimulus against economic woes. Bond funds raked in $9.6 billion Continue Reading
Deutsche Bank to cut 18,000 jobs in 7.4 billion euro overhaul
FILE PHOTO: The Deutsche Bank headquarters are seen in Frankfurt, Germany October 29, 2015. REUTERS/Kai Pfaffenbach/File Photo FRANKFURT (Reuters) – Deutsche Bank (DBKGn.DE) plans to cut 18,000 jobs in a sweeping, 7.4 billion euro overhaul designed to turn around Germany’s struggling flagship lender The bank will also scrap its global Continue Reading
China’s Centurium Capital raises over $2 billion from GIC, Temasek, others
HONG KONG (Reuters) – China’s Centurium Capital, a big backer of domestic startup Luckin Coffee, said it has raised more than $2 billion in its debut fund, giving the private equity firm more firepower to cut deals involving the world’s second-largest economy. FILE PHOTO: CEO of Luckin Coffee Jenny Qian Continue Reading
Slack to take unusual route to public markets, likely valuing it around $16 billion
NEW YORK (Reuters) – Slack Technologies, the fast-growing workplace messaging and communication platform, is poised for an unusual public listing on Thursday that will see it trade on the New York Stock Exchange and could value it at around $16 billion, according to a person familiar with the matter. Slack Continue Reading
Fiat Chrysler and Renault pursue $35 billion merger to tackle car sector challenges
MILAN/PARIS (Reuters) – Fiat Chrysler pitched a finely balanced merger of equals to Renault on Monday to confront the costs of far-reaching technological and regulatory changes by creating the world’s third-biggest automaker. If it goes ahead, the $35 billion-plus tie-up would alter the landscape for rivals including General Motors and Continue Reading
Trump administration announces $16 billion farm aid plan to offset trade war losses
WASHINGTON (Reuters) – The Trump administration on Thursday unveiled a $16 billion farm aid package to offset losses from a 10-month trade war with China and said payment rates to farmers would be determined by where they farm rather than what crops they grow. The package, the bulk of which Continue Reading