India’s Adani slammed by $48bn stock rout, putting stock selloff at risk

Shares of Indian billionaire Adani’s companies hit by debt problems 7 Adani Group companies have lost a total of $48 billion since Adani slips to 7th richest in the world, from third Forbes Bill Ackman says Hindenburg report ‘highly credible’ MUMBAI, Jan 27 (Reuters) – Shares of Indian firm Adani Enterprises (ADEL.NS) plunged on Friday … Read more

The slowdown in commercial activity in the United States is easing slightly; the euro zone returns to growth

Business activity in the United States is better than expected, but remains soft Eurozone records surprise return to modest growth UK PMI falls at fastest pace in two years, surveys show NEW YORK/LONDON, Jan 24 (Reuters) – The slowdown in business activity in the United States eased slightly in January, although it contracted for the … Read more

Outlook for Microsoft’s cloud business slightly behind expectations

Jan 24 (Reuters) – Microsoft Corp (MSFT.O) expects cloud revenue for the current quarter to be just below Wall Street expectations, dampening some enthusiasm for its pace of quarterly profit growth earlier on Tuesday. The shares initially rose sharply in after-hours trading, but lost steam after the company’s cloudy forecast. Microsoft said its smart cloud … Read more

Dollar slips as upbeat data on Eurozone economic activity drives euro higher

NEW YORK, Jan 24 (Reuters) – The dollar fell slightly against the euro on Tuesday after data showed business activity in the euro zone made a surprise return to modest growth in January, while US business activity fell for a seventh straight month. While business activity in the United States contracted in January, the slowdown … Read more

Dollar struggles, stocks buoyant as trade activity data sets tone

LONDON, Jan 24 (Reuters) – The euro held at a nine-month high against the dollar and global stocks hit multi-month highs on Tuesday after reasonable data on economic activity in Europe and a slew of corporate earnings kept risk appetite going. Euro zone business activity made a surprise return to growth in January, the latest … Read more

SLB wins business in Russia as oil rivals pull out after Ukraine invasion

Jan 19 (Reuters) – Following Moscow’s invasion of Ukraine, the world’s largest oil company SLB (SLB.N) has boosted its business in Russia by selecting service and equipment contracts for rivals who are gone, according to company documents and people familiar with its operations. While SLB’s continued embrace of Russia has drawn heavy criticism, interviews with … Read more

Goldman misses earnings estimates as deals slump and consumer business hits

Jan 17 (Reuters) – Goldman Sachs Group Inc (GS.N) reported a bigger-than-expected 69% drop in fourth-quarter profit on Tuesday as it battled a drop in deals, lower revenue from the asset and wealth management and recognized losses in its consumer business. Wall Street banks are making drastic staff cuts and streamlining operations as trading activity, … Read more

Banks dress for a business-casual recession

NEW YORK, Jan 13 (Reuters Breakingviews) – A recession is looming for U.S. banks, but they are wearing comfortable shoes. JPMorgan(JPM.N), Bank of America(BAC.N), Citigroup(CN) and Wells Fargo(WFC.N) all warned on Friday of a weakening economy. Nonetheless, lenders are quite optimistic that they and their borrowers can easily ride out a deeper downturn. The big … Read more

Exclusive: Shell’s energy transition sparked talks to sell Norway business

Shell and Harbor Energy held talks late last year The talks included Norway, Italy and some British assets Shell focuses on low-carbon renewables LONDON, Jan 10 (Reuters) – Shell (SHEL.L) held talks with Harbor Energy (HBR.L) to sell its Norwegian oil and gas fields last year but could not reach a deal in due to … Read more

AstraZeneca bolsters heart and kidney business with $1.8 billion deal with CinCor

AZN shares slip 1% on Monday Farxiga-baxdrostat combination could expand franchise – AZN exec Falling valuations of biotech companies could boost deal-making Jan 9 (Reuters) – AstraZeneca (AZN.L) said on Monday it has reached an agreement to buy U.S. drug developer CinCor Pharma Inc (CINC.O) for up to $1.8 billion to boost its stock of … Read more