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Einhorn’s Greenlight takes stake in Twitter – letter
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Italy’s right-wing frontrunners see room to revamp national Recovery Plan
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Revlon gets court approval for $1.4 billion bankruptcy loan
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Shipping arrangements into Ukraine still not ready, Lloyd’s official says
Uber Eats in focus as inflation-hit consumers rethink ordering in
Date: August 1, 2022
By Nivedita Balu (Reuters) – The food-delivery business that kept Uber Technologies’ earnings afloat during the peak of the pandemic is expected to show signs of strain in second-quarter results due on Tuesday as decades-high inflation crimps consumer spending. The slowdown could dampen any boost from a rebound in Uber’s mainstay ride-hailing business that has...
FTSE 100 closes down as oil stocks drop and sterling gains
Date: August 1, 2022
By Sruthi Shankar (Reuters) -A slump in oil stocks and rally in sterling weighed on Britain’s top share index on Monday, as investors looked ahead to the Bank of England’s next move on interest rates amid a weakening global economic outlook. As sterling hit a one-month high, the FTSE 100, packed with multinational companies that...
Global thematic funds see big outflows as growth stocks falter
Date: August 1, 2022
By Patturaja Murugaboopathy (Reuters) – Global thematic funds are facing heavy outflows this year as investors’ fascination fade with such assets, most of which are closely correlated with economic growth. Investors had piled into such funds over the past couple of years as they allocated money to high-growth sectors and stocks tied to trending themes...
HSBC rejects Ping An break-up call, promises higher dividend
Date: August 1, 2022
By Lawrence White and Anshuman Daga LONDON/SINGAPORE (Reuters) – HSBC pushed back on a proposal by top shareholder Ping An Insurance Group Co of China to split the lender, a move Europe’s biggest bank said would be costly, while posting profits that beat expectations and promising chunkier dividends. London-headquartered HSBC’s comments on Monday represent its...
Oil sinks after weak factory data sparks demand concerns
Date: August 1, 2022
By Stephanie Kelly NEW YORK (Reuters) -Oil prices dropped sharply on Monday as weak manufacturing data in several countries weighed on the demand outlook while investors braced for this week’s meeting of OPEC and its producer allies on supply. Brent crude futures fell $3.56, or 3.4%, to $100.41 a barrel by 11:14 a.m. EDT (1514...
At 75, Edinburgh Festival more intent than ever on healing divisions
Date: August 1, 2022
By Barbara Lewis and Sarah Mills LONDON (Reuters) – Self-described working class playwright Kieton Saunders-Browne used to think the Edinburgh Fringe wasn’t for people like him – until a fund set up to draw a more diverse cast of performers to the world’s largest arts festival stepped in to help. The 24-year-old Londoner, of Irish...