Dollar Signs

By John Revill and Paul Sandle ZURICH/LONDON (Reuters) -Swisscom said on Friday it would buy Vodafone Italia for 8 billion euros ($8.7 billion) and merge the business with its Italian subsidiary Fastweb in the latest round of consolidation in Europe’s most competitive telecoms markets. The deal follows the merger of French mobile operator Orange’s Spanish […]

By Trevor Hunnicutt and David Brunnstrom WASHINGTON (Reuters) -U.S. President Joe Biden plans to express concern over Nippon Steel’s proposed $14.9 billion purchase of U.S. Steel, a person familiar with the matter said on Wednesday, pushing the U.S. company’s stock nearly 13% lower on bets the deal could face greater political opposition. The issue has […]

By Saeed Azhar NEW YORK (Reuters) – Goldman Sachs Asset Management, a unit of Goldman Sachs Group, aims to expand its private credit portfolio to $300 billion in five years from the current $130 billion, a senior executive said, laying out an aggressive expansion plan. “It’s a huge opportunity,” Marc Nachmann, Goldman’s global head of […]

By Laila Kearney NEW YORK (Reuters) – Oil prices were little changed on Monday as concern eased that fighting in the Middle East would disrupt supply and Chinese data suggested weak demand, while an increase in U.S. refining limited any selling. Brent futures for May delivery settled at $82.21 a barrel, gaining 13 cents. The […]

By Arsheeya Bajwa and Max A. Cherney (Reuters) -Broadcom said on Thursday it expects $10 billion in revenue from chips related to artificial intelligence this year, but its stock dipped after the tech company’s full-year forecast failed to impress investors.Smaller rival Marvell Technology’s forecast revenue below market expectations, sending its stock down over 6% in […]

By Pete Schroeder WASHINGTON (Reuters) -The U.S. banking sector saw its profits drop by nearly half in the last quarter of 2024, as large firms began paying hefty fees to help recoup costs incurred by several bank failures last spring, the Federal Deposit Insurance Corporation reported Thursday. Roughly 70% of the 43.9% decline in quarterly […]

By Jonathan Stempel (Reuters) -A federal appeals court on Tuesday refused to hold five major technology companies liable over their alleged support for the use of child labor in cobalt mining operations in the Democratic Republic of the Congo. In a 3-0 decision, the U.S. Court of Appeals for the District of Columbia ruled in […]

By Tommy Wilkes LONDON (Reuters) – Major European banks have been cutting their lending to commercial property and have half the exposure of their U.S. peers, making U.S. lenders more vulnerable as office prices plunge further, Morgan Stanley said on Tuesday. Commercial real estate (CRE) markets are in the grip of the biggest downturn since […]

By Manya Saini and Niket Nishant (Reuters) – Short sellers targeting a key regional U.S. bank exchange-traded fund have made $977 million on paper so far in 2024, data from analytics firm Ortex showed, as troubles at New York Community Bancorp rippled across the industry. The fallout from NYCB’s exposure to the troubled commercial real […]