Tag: Updated
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Alaska Air to buy peer Hawaiian for $1.9 billion
By Rajesh Kumar Singh, Akanksha Khushi and Anirban Sen (Reuters) -Alaska Air Group Inc said on Sunday it would acquire Hawaiian Holdings Inc for $1.9 billion, including debt, placing a bet on a troubled airline with lucrative routes as U.S. antitrust regulators fight consolidation in the sector. Alaska Air said it would pay $18 per…
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Crypto stocks surge as bitcoin hits fresh 2023 high
(Reuters) -Cryptocurrency-related stocks listed in the U.S. surged on Monday, looking to extend their strong November gains, as bitcoin topped $42,000 to hit a fresh high for the year. Shares of companies whose fortunes are tied to the cryptocurrency have rallied in recent weeks, spurred by optimism about potential interest rate cuts in the U.S.…
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Roche joins race for obesity drugs with $2.7 billion Carmot deal
By Ludwig Burger (Reuters) -Roche agreed to take over unlisted obesity drug developer Carmot Therapeutics for $2.7 billion upfront, joining a list of contestants seeking to challenge the dominant makers of weight-loss drugs Novo Nordisk and Eli Lilly. The U.S. takeover target’s most promising drug candidate, a once-a-week injection called CT-388, is a dual GLP-1/GIP…
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More US home buyers willing to purchase despite high rates -BofA study
By Nupur Anand NEW YORK (Reuters) -U.S. home buyers are becoming more willing to purchase properties even as interest rates stay high, according to a study by Bank of America published on Monday. About 62% of respondents said they would wait for borrowing costs to fall before buying a house, according to 1,000 people polled…
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Currency, inflation woes in focus as Egypt’s Sisi set for third term
By Patrick Werr CAIRO (Reuters) – In the run-up to Egypt’s Dec. 10-12 presidential election, financially strapped people queue at state-managed cooperatives trying to buy scarce rations of subsidised sugar. It is the latest sign of economic pressures that have risen sharply since early last year, leaving Egyptians grappling with soaring prices and an unresolved…
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GM believes many of its EVs will qualify for tax credits in 2024
WASHINGTON (Reuters) – General Motors said Friday that it expects many of its electric vehicles to qualify for U.S. tax credits next year after new stricter rules limiting Chinese battery content take effect. “Due to GM’s historic investments in the U.S and efforts to build more secure and resilient supply chains we believe GM is…
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Crypto stocks set to start December on high note as bitcoin hits near 19-month high
(Reuters) -Shares of crypto miners and bitcoin-tracking companies rose on Friday as the world’s largest cryptocurrency extended a recent rally to touch a near 19-month high on improving risk appetite. Bitcoin, up 1.6% at $38,337, has been gaining since October on optimism that a potential approval of a spot exchange-traded fund is likely to unleash…
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Factbox-Global economy to slow down but likely avoid recession in 2024
(Reuters) -Some major banks expect global economic growth to ease further in 2024, squeezed by elevated interest rates, higher energy prices and a slowdown in the world’s two largest economies. The global economy is forecast to grow 2.9% this year, a Reuters poll showed, with next year’s growth seen slowing to 2.6%. Most economists expect…
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Oil prices gain near 2% on expectations of deeper OPEC+ cuts
By Shariq Khan BENGALURU (Reuters) – Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on expectations of fresh supply cuts from OPEC+ and looked past a jump in U.S. crude, gasoline and distillate stockpiles. Brent crude futures advanced by $1.42, or 1.7%, to settle at $83.10 a barrel,…
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Retail traders reignite rally in GameStop shares
By Medha Singh and Saqib Iqbal Ahmed (Reuters) -Retail traders powered a nearly 20% jump in GameStop shares to a two-month high in regular trading on Wednesday, extending a rally ahead of the company’s quarterly results next week and underscoring a return in appetite for risk. The meme stock is up nearly 36% over the…