Brazil’s real plunges as unemployment soars, set for best month in 2021

Brazil’s real plunges as unemployment soars, set for best month in 2021

Brazil’s real dropped on Friday as unemployment jumped to record levels and a spike in coronavirus deaths dented sentiment, although expectations of interest rate hikes and a weak dollar led the currency to gain most among its Latin American peers in April. The real dropped 1.3% after unemployment soared to a record 14.4 million in…

interVal Announces Closing of $1.5 Million Seed Capital Investment

interVal Announces Closing of $1.5 Million Seed Capital Investment

Capital further validates recent company growth and will allow interVal to continue to meet market demand for its intelligent, subscription-based data analysis technology LONDON, Ontario — interVal, a software company specializing in data automation and business valuation-analysis, today announced the closing of a Seed Capital raise of $1.5 million. The investment party strategically involved individuals…

Gold hits 1-week low as yields rise ahead of Fed statement

Gold hits 1-week low as yields rise ahead of Fed statement

Gold prices slipped to a one-week low on Wednesday as U.S. Treasury yields firmed up ahead of a Federal Reserve policy statement later in the day. Spot gold was down 0.5% at $1,767.66 per ounce by 0625 GMT, having fallen to its lowest since April 20 at $1,765.70 earlier in the day. U.S. gold futures…

China Huarong bonds slump on Fitch downgrade; maturing bond repaid

China Huarong bonds slump on Fitch downgrade; maturing bond repaid

SHANGHAI — Offshore bonds issued by subsidiaries of Chinese state-owned bad loan giant China Huarong Asset Management Co fell on Tuesday after Fitch Ratings downgraded the parent company due to concerns over the strength of its government backing. Bids on a $250 million perpetual bond issued by Huarong Finance 2019 Co Ltd were quoted at…

UK lawmakers call for PM Johnson to publish big pharma lobbying messages

UK lawmakers call for PM Johnson to publish big pharma lobbying messages

LONDON — British lawmakers on Monday called on the government to publish all communications with pharmaceutical companies to understand if private lobbying influenced its opposition to a waiver of intellectual property rules for COVID-19 vaccines. The United States and a handful of other big countries, including the United Kingdom, have blocked negotiations at the World…

Online bookmaker Betway parent nears $5.1 bln deal to go public -sources

Online bookmaker Betway parent nears $5.1 bln deal to go public -sources

Super Group, the parent company of online bookmaker Betway, is nearing a deal to go public through a merger with blank-check acquisition firm Sports Entertainment Acquisition Corp at a valuation of about $5.1 billion, people familiar with the matter said on Saturday. The deal comes as Betway, which has its roots in Europe, expands in…

Poland Says Central Banks May Have Role in Clean Energy Shift

Poland Says Central Banks May Have Role in Clean Energy Shift

(Bloomberg) — Global leaders should consider a role that central banks could play in helping the world shift to clean energy, Polish President Andrzej Duda said during a climate summit hosted by his U.S. counterpart Joe Biden. Earlier this month, Polish central bank Governor Adam Glapinski said that his institution will be crucial in financing…

U.S. financial regulators in hot seat as Biden ramps up climate agenda

U.S. financial regulators in hot seat as Biden ramps up climate agenda

WASHINGTON — As U.S. President Joe Biden escalates his climate change agenda, pressure is growing on the country’s regulators to catch up with Europe and incorporate various risks posed by climate change into their oversight of the financial system. The White House is expected to soon issue an executive order on climate change which could…

Bain Capital weighing bid to take Toshiba private -sources

Bain Capital weighing bid to take Toshiba private -sources

HONG KONG — Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said. The Japanese conglomerate on Tuesday dismissed a $20 billion buyout offer from CVC Capital Partners as lacking substance but said it would consider any credible offers. CVC had initially approached Bain about a…

Asian shares up on China gains but tech worries weigh

Asian shares up on China gains but tech worries weigh

HONG KONG — Asian shares rose on Tuesday, led by a stronger Chinese opening and shaking off the initial drag from tech-driven Wall Street losses, while the dollar stayed at multiweek lows against other major currencies. MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2%, swinging into positive territory after Chinese blue chips rose…

China’s $87 Billion Electric-Car Giant Hasn’t Sold a Vehicle Yet

China’s $87 Billion Electric-Car Giant Hasn’t Sold a Vehicle Yet

(Bloomberg) — China Evergrande New Energy Vehicle Group Ltd.’s expansive pop-up showroom sits at the heart of Shanghai’s National Exhibition and Convention Center. With nine models on display, it’s hard to miss. The electric car upstart has one of the biggest booths at China’s 2021 Auto Show, which starts Monday, opposite storied German automaker BMW…

Japanese PM Suga asks Pfizer to send Japan more COVID-19 vaccines – Nikkei

Japanese PM Suga asks Pfizer to send Japan more COVID-19 vaccines – Nikkei

Japanese Prime Minister Yoshihide Suga asked U.S. drugmaker Pfizer Inc on Saturday to provide additional supplies of COVID-19 vaccine to Japan, Nikkei reported, citing Japanese officials. Suga made the request during a telephone call with Pfizer CEO Albert Bourla on the last day of a three-day visit to Washington, according to the report (Reporting […]

S&P 500, Dow hit record highs on bank earnings boost

S&P 500, Dow hit record highs on bank earnings boost

The S&P 500 and the Dow hit record highs on Friday after Morgan Stanley wrapped up quarterly earnings reports from the big U.S. banks with a profit surge, while optimism about a solid economic rebound put the main indexes on course for weekly gains. Nine of the 11 S&P indexes were trading higher, with only…

Iraq in talks with U.S. firms over buying of Exxon shares in West Qurna 1 oilfield – statement

Iraq in talks with U.S. firms over buying of Exxon shares in West Qurna 1 oilfield – statement

BAGHDAD — Iraq said on Thursday it is in discussions with U.S. oil companies over a possible purchase of ExxonMobil shares in the southern West Qurna 1 oil field. It did not say which companies were interested in buying the shares, and provided no further details. (Reporting by Ahmed Rasheed, John Davison. Editing by Jane…

Toshiba CEO steps down, shares surge on bidding war expectations

Toshiba CEO steps down, shares surge on bidding war expectations

TOKYO — Toshiba Corp CEO Nobuaki Kurumatani resigned on Wednesday amid controversy over a $20 billion buyout bid from CVC Capital Partners and the conglomerate’s shares surged on reports that KKR & Co and Brookfield are also planning offers. Satoshi Tsunakawa, who previously led the company before Kurumatani and until Wednesday was chairman, will once…

India Has 2nd-Most Cases; U.K. Hits Vaccine Target: Virus Update

India Has 2nd-Most Cases; U.K. Hits Vaccine Target: Virus Update

(Bloomberg) — India overtook Brazil as the country with the second-most cases in the world. A study in Brazil showed that Sinovac Biotech Ltd.’s vaccine is slightly more than 50% effective, raising new concerns over the efficacy of the China’s suite of Covid-19 shots. The U.K. hit its goal of offering a shot to all…

Stocks Edge Lower as China Factory Inflation Jumps: EM Review

Stocks Edge Lower as China Factory Inflation Jumps: EM Review

(Bloomberg) — Emerging-market stocks crept lower over the week with the bulk of the declines on Friday after China said producer prices jumped in March, adding to concern inflation is gathering pace. It was a similar story in the U.S., where faster-than-expected producer-price inflation reported the same day pushed Treasury yields back up, crimping weekly…

Ford, VW Battery Supplier Said to Reach Deal to Avoid Import Ban

Ford, VW Battery Supplier Said to Reach Deal to Avoid Import Ban

(Bloomberg) — The South Korean supplier of electric vehicle batteries in the U.S. for Ford Motor Co. and Volkswagen AG has reached a last-minute deal with its chief rival, said people familiar with the situation. Saturday’s move averts a 10-year import ban on SK Innovation Co.’s products and protects thousands of jobs in the politically…

Brace for the Amazon effect on live sport

IN 1993 FOX, a nascent cable network owned by Rupert Murdoch, an Australian-born tycoon, paid a fortune to scoop the rights to National Football League (NFL) games from under the nose of CBS, a veteran broadcaster. It caused a tremor in American television history. As one CBS reporter put it, “The NFL was ingrained in…

BJ’s Wholesale Club CEO Lee Delaney dies unexpectedly

BJ’s Wholesale Club CEO Lee Delaney dies unexpectedly

BJ’s Wholesale Club Holdings Inc said on Friday Chief Executive Officer Lee Delaney had died unexpectedly due to presumed natural causes. Bob Eddy, who has been the company’s finance chief since 2011, will take over as CEO on an interim basis, the wholesale retailer said. Delaney, a former Bain Capital partner, took over as BJ’s…