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Adani market losses snowball to $100 bln on shelved share sale

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NEW DELHI, Feb 2 (Reuters) – India’s Adani group shares sank on Thursday after market turmoil forced the conglomerate to ax a crucial $2.5 billion stock offer, deepening its market losses to more than $100 billion and sparking worries about the potential systemic impact. The withdrawal of Adani Enterprises’ (ADEL.NS) share sale marked a dramatic … Read more

Nikki Haley, once Trump’s UN ambassador, to take him on in 2024

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WASHINGTON, Feb 1 (Reuters) – Former South Carolina Governor Nikki Haley will kick off her campaign for the 2024 Republican presidential nomination this month, squaring off against her one-time boss, former President Donald Trump, two sources familiar with her plans said on Wednesday. The move would make her just the second declared Republican candidate and … Read more

US labor cost growth smallest in a year

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Employment cost index rises 1.0% in fourth quarter Wages, salaries increase 1.0%; up 5.1% year-on-year Consumer confidence index drops to 107.1 in January House price inflation slows further in November WASHINGTON, Jan 31 (Reuters) – US labor costs increased at their slowest pace in a year in the fourth quarter as wage growth slowed, giving … Read more

Goldilocks is back! Markets start 2023 in red-hot form

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LONDON, Jan 31 (Reuters) – From stocks to government bonds, markets have had one of their best starts to the year in decades but whether the run lasts depends on a Goldilocks scenario of easing inflation, economic growth holding up and borrowing costs falling. After $14 trillion was wiped off world shares in 2022, $4 … Read more

Unilever names former Heinz exec Schumacher as CEO

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To become CEO July 1 Activist shareholder says met Schumacher when at Heinz First outsider CEO since Paul Polman appointed in 2008 Unilever shares outpace FTSE 100 LONDON, Jan 30 (Reuters) – Unilever on Monday appointed Hein Schumacher to replace Alan Jope as chief executive from July in a move that was welcomed by investors … Read more

Asia shares turn cagey as rate hikes, earnings loom

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https://tmsnrt.rs/2zpUAr4 Fed seen hiking 25bp this week, ECB and BOE by 50bp Tech giants lead host of earnings results China shares up as holiday travel surges SYDNEY, Jan 30 (Reuters) – Asian shares turned cagey on Monday ahead of a week that is certain to see interest rates rise in Europe and the United States, … Read more

Adani hits back at Hindenburg, says it made all disclosures

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Adani issues 413-page rebuttal to Hindenburg report US short-seller’s report sparked falls in Adani shares Adani says it complies with laws, necessary disclosures Adani CFO confident $2.5 bln share sale will succeed NEW DELHI, Jan 30 (Reuters) – India’s Adani Group issued a detailed response on Sunday to a Hindenburg Research report that sparked a … Read more

UK PM Sunak sacks party chairman Zahawi over tax affairs

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Zahawi found not to have been open about tax probe Independent adviser finds serious breaches of code Investigation into Deputy PM ongoing Scandal damages PM Sunak’s attempted reset LONDON, Jan 29 (Reuters) – British Prime Minister Rishi Sunak sacked Conservative Party chair Nadhim Zahawi on Sunday after an investigation found he committed a serious breach … Read more

Wall St Week Ahead Recession fears pose challenge to energy shares after stellar year

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NEW YORK, Jan 27 (Reuters) – A potential US recession and tough comparisons to a stellar 2022 are weighing on the prospects of energy stocks delivering an encore to last year’s stunning run, despite valuations that are seen as still comparatively cheap. The S&P 500 energy sector (.SPNY) is up 4.2% year-to-date, slightly lagging the … Read more

Wall Street ends higher, notches weekly gains as Fed meeting looms

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PCE: inflation cools along with consumer spending American Express, Visa climb higher on solid demand Chevron falls after missing profit estimates Indexes up: Dow 0.08%, S&P 0.25%, Nasdaq 0.95% NEW YORK, Jan 27 (Reuters) – Wall Street advanced on Friday, marking the end of a rocky week in which economic data and corporate earnings guidance … Read more