Category: Economy
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Analysis-Promise of calmer markets as US oil wrests pricing power from Brent
By Alex Lawler LONDON (Reuters) – Increased exports of oil from the United States into Europe and Asia mean U.S. crude has snatched back its primacy in setting international pricing after North Sea grades have for decades determined the value of the world’s most traded commodity. The trend has calmed volatility and limits the potential…
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DirecTV, Nexstar reach distribution deal to end blackout
(Reuters) -AT&T-controlled distributor DirecTV said on Monday it had reached a multi-year deal with Nexstar Media Group that would return the local broadcaster’s content to its network after a more than two-month blackout. The financial terms of the deal were not disclosed. The blackout began on July 2 after the companies clashed on Nexstar’s demand…
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Funds on verge of long dollar flip: McGeever
By Jamie McGeever ORLANDO, Florida (Reuters) -Hedge funds cut their net short dollar position by nearly $5 billion last week, according to the latest U.S. futures markets data, the biggest swing towards a more bullish dollar stance since May last year. The move away from a bearish dollar position and the dollar’s rally over the…
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Sleep Number investor Stadium Capital pushes for board shakeup -letter
By Svea Herbst-Bayliss NEW YORK (Reuters) -Investment firm Stadium Capital Management wants to shake up the board of bed and mattress maker Sleep Number Corp following more than a decade of poor returns, according to a letter reviewed by Reuters. Stadium Capital, which owns roughly 9% of the Minneapolis, Minnesota-headquartered company, said Sleep Number is…
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IMF says global debt fell as share of GDP in 2022, may resume rising trend
WASHINGTON (Reuters) – The International Monetary Fund on Wednesday said that the global debt as a share of economic output fell significantly in 2022 for the second year in a row, but the decline may be ending as a post-COVID growth surge fades. The IMF said in an update to its Global Debt Database that…
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Instacart targets up to $9.3 billion valuation for much-awaited US IPO
By Niket Nishant (Reuters) -Instacart on Monday set a target of up to $9.3 billion in valuation on fully diluted basis in its hotly anticipated U.S. initial public offering, much cheaper than the price tag it had fetched in its last funding round. The company, along with some investors looking to cut their stake, is…
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Shutdown risk looms as US Congress faces spending, impeachment brawl
By David Morgan WASHINGTON (Reuters) – The U.S. House of Representatives returns this week for an expected political brawl over spending cuts and impeachment that could paralyze the Republican-controlled chamber, as Congress struggles to avoid a government shutdown. The House and the Democratic-controlled Senate are due to be in session for about 12 days before…
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Marketing firm Klaviyo eyes up to $8.4 billion valuation in US IPO
By Sri Hari N S and Manya Saini (Reuters) -Klaviyo is seeking a fully-diluted valuation of up to $8.4 billion in its initial public offering (IPO) in the United States, the marketing firm said on Monday, as it becomes the latest company to tap a growing wave of stock market listings. SoftBank-backed chip designer Arm…
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Lebanon central bank will limit access to new FX platform, vice governor says
By Maya Gebeily BEIRUT (Reuters) – Lebanon’s central bank will restrict access to a new currency exchange platform set to launch within weeks to ensure U.S. dollars traded on the system are coming from “legitimate sources”, one of its vice governors told Reuters. Acting central bank governor Wassim Mansouri said last week a new platform…
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Global watchdog warns over ‘very high leverage’ in hedge funds
By Huw Jones LONDON (Reuters) – Leverage is now very high in parts of the $7 trillion hedge fund sector, G20 risk watchdog Financial Stability Board (FSB) warned on Wednesday, while noting that significant data gaps make it hard to get a full picture of vulnerabilities among “non-banks”. Many of the underlying flaws seen in…