By Niket Nishant and Manya Saini (Reuters) – Retail investors poured nearly $11 million into MicroStrategy’s shares on Monday, almost three times their average daily inflows this year, after the biggest corporate holder of bitcoin secured a spot in the Nasdaq-100 index. The data, compiled by Vanda Research on Tuesday, highlights the bitcoin bull’s growing […]
UK approves Daniel Kretinsky’s $6.7 billion bid for Royal Mail parent, FT reports
(Reuters) -The British government has approved Czech billionaire Daniel Kretinsky’s 5.3-billion-pound ($6.69 billion) takeover of Royal Mail owner International Distribution Services, the Financial Times reported on Monday. The approval is set to be announced as early as Monday morning, the report said, citing people familiar with the matter. International Distribution Services (IDS) and the Competition […]
VW union calls for compromise in last-ditch talks before Christmas
By Victoria Waldersee HANOVER, Germany (Reuters) -Volkswagen’s works council chief said that cost cuts must exclude plant closures or redundancies, as a last-ditch round of pre-Christmas negotiations began on Monday. Europe’s biggest carmakers are being squeezed by high costs and the arrival of cheaper Chinese competitors which are taking the battle for market share to […]
T-Mobile announces $14 billion share buyback program
(Reuters) -U.S. wireless carrier T-Mobile said on Friday it would buy back as much as $14 billion worth of shares by 2025 end as part of its previously stated plan to return up to $50 billion over the next three years to shareholders. Telecom companies such as Verizon, AT&T and T-Mobile are among the top […]
VW’s top shareholder Porsche SE to write down up to 20 billion euros on investment
BERLIN (Reuters) -Top Volkswagen shareholder Porsche SE <PSHG_p.DE> expects to write down 7 billion to 20 billion euros ($20.98 billion) on its investment, it said on Friday, in the latest sign of how VW’s cost crisis has shaken investor faith in the carmaker. It also expects an impairment on its investment in luxury carmaker Porsche […]
Contact lens maker Bausch + Lomb says it is exploring sale
(Reuters) – Bausch + Lomb is exploring a potential sale among other options, it said on Thursday, in a move that would help Canadian parent Bausch Health exit the eye-care company. Bausch + Lomb also said its statement was in response to a request from the Canadian Investment Regulatory Organization (CIRO) after a series of […]
Apple nears switch to in-house Bluetooth and Wi-Fi chip for iPhone, smart home, Bloomberg reports
(Reuters) – Apple is planning to switch to a homegrown chip for Bluetooth and Wi-Fi connections for its devices starting next year, a move that will phase out some parts currently supplied by Broadcom, Bloomberg News reported on Thursday. The chip, code-named Proxima, has been under development for several years and is now slated to […]
Healthcare stocks fall as lawmakers push for bill to break up drug middlemen
(Reuters) – Shares of companies owning pharmacy benefit managers fell on Wednesday after the introduction of a bipartisan bill that would force health insurers or drug middlemen to divest their pharmacy businesses. CVS Health’s Caremark, Cigna’s Express Scripts and UnitedHealth Group’s Optum control the majority of pharmacy benefit management (PBMs) in the US, while their […]
Wall Street mostly upbeat on GM’s decision to pull the plug on Cruise
By Nora Eckert and David Shepardson DETROIT (Reuters) – General Motors needed to exit its Cruise robotaxi business, most Wall Street analysts agreed on Wednesday, but the automaker’s decision to do so was still a disappointing end for an operation that GM had touted as a potential $50 billion revenue generator by 2030. The largest […]
Google-parent Alphabet hits record high after Trump taps Andrew Ferguson as FTC chair
By Harshita Mary Varghese (Reuters) – Alphabet led a Big Tech rally on Wednesday, with its stock hitting a record high after U.S. President-elect Donald Trump picked Federal Trade Commissioner Andrew Ferguson to lead the consumer protection and antitrust agency. Trump tapped Ferguson on Tuesday to replace Lina Khan, whose term as FTC chair has […]