11 October 2022, 7:14 pm 1 minute Reuters was first to report that a U.S. judge approved an auction process that could lead to the breakup of Venezuela owned Citgo Petroleum, the seventh-largest U.S. oil refiner. Two years after first authorizing a sale of shares in Citgo’s parent company, PDVSA, the judge set bidding procedures and …
Category Archives: Stock Market
Reuters reveals Toshiba’s preferred bidder offers price short of key 6,000 yen a share
Business & Finance 17 October 2022, 5:33 pm 1 minute Reuters was first to report the preferred bidder to buy out Toshiba Corp has offered to pay less than the widely regarded threshold of 6,000 yen a share, indicating the premium for the Japanese conglomerate may not be as rich as investors had hoped. Article …
Tesla racial-discrimination trial begins after record judgment was reduced
A Black elevator operator at Tesla Inc. TSLA, +1.02% who in 2021 was awarded $137 million by a jury that agreed he was subjected to racial harassment at the automaker’s Fremont, Calif. factory, then saw a judge reduce the award to $15 million last year, is back in San Francisco federal court Monday for a …
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Arko reveals it’s a rival bidder for TravelCenters of America
Arko Corp. ARKO, +0.60% on Monday disclosed that it was the company that submitted a rival offer of $92 a share for TravelCenters of America Inc. TA, +0.72%. TravelCenters of America made the $92 offer public in a proxy filed last week, but didn’t name Arko Corp., an Arko spokesperson told MarketWatch in an email. …
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Binance sued by CFTC for allegedly flouting commodity trading laws
Binance, the world’s largest crypto exchange, was sued by the Commodity Futures Trading Commission Monday for alleged violations of the federal laws governing commodities markets. The CFTC alleged that Binance failed to register with the agency as a derivatives intermediary as required by U.S. law, according to a lawsuit filed in federal court in Illinois. …
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Dow jumps 250 points at open as banking fears ease
U.S. stocks opened higher on Monday as signs of banking-sector stress waned and investors bet on multiple Federal Reserve interest-rate cuts before the end of 2023. The S&P 500 SPX, +0.19% gained 25 points, or 0.6%, to 3,996. The Dow Jones Industrial Average DJIA, +0.47% rose by 255 points, or 0.8%, to 32,493. The Nasdaq …
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Reuters reveals Exxon exits Russia empty-handed with oil project ‘unilaterally terminated’
Energy 17 October 2022, 6:02 pm 1 minute Reuters was first to report Exxon Mobil Corp said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project. Exxon did not say if it …
Reuters reveals scores of Google rivals want EU tech law used in antitrust case
Technology 17 October 2022, 6:22 pm 1 minute Reuters exclusively revealed more than 40 European rivals to Google’s shopping service urged European Union (EU) antitrust regulators to use newly adopted tech rules to ensure the Alphabet unit complies with a 2017 EU order to allow more competition on its search page. The European Commission fined …
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Reuters reveals Germany’s Speira set to win EU nod for RAB deal with asset sale offer
Business & Finance 18 October 2022, 6:40 pm 1 minute Reuters was first to report private equity firm KPS Capital Partners’ German aluminium smelter Speira is set to gain European Union (EU) antitrust approval for its plan to buy aluminium recycler Real Alloy Europe with its offer to sell two plants to address EU concerns. …
GSK says it disagrees with California state court ruling on Zantac
U.K. pharmaceutical giant GSK on Friday said it disagreed with a California state court ruling on Zantac, or ranitidine, and its links with cancer. “Following the 13 epidemiological studies conducted looking at human data regarding the use of ranitidine, the scientific consensus is that there is no consistent or reliable evidence that ranitidine increases the …
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