Month: October 2024
Abu Dhabi’s ADNOC to acquire German chemicals firm Covestro for $16.4 billion
Covestro’s headquarters in Leverkusen, Germany. The company has adjusted its full year guidance for 2022, citing a number of factors. Ina Fassbender | AFP | Getty Images Abu Dhabi’s state-owned oil firm ADNOC on Tuesday said it has agreed to buy German chemicals firm Covestro for 14.7 billion euros ($16.4 billion). ADNOC, short for the […]
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London-based Robinhood rival Freetrade buys UK arm of Australian investing platform Stake
Key Points British retail investing app Freetrade has entered into an agreement with Australian rival Stake to take on all of the company’s U.K. clients and their assets, Freetrade told CNBC Tuesday. Sydney-based Stake launched its services in the U.K. in 2020, however the firm has decided to focus primarily on its Australia and New […]
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Chinese EV brands Li Auto and Zeekr report record deliveries for September
A Li L6 by Li Auto is displayed at its booth during the Beijing International Automotive Exhibition, or Auto China 2024, in Beijing, China, April 25, 2024. Tingshu Wang | Reuters BEIJING — Chinese new energy vehicle brands Li Auto and Zeekr each delivered a record number of cars in September, according to company data […]
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European markets kick off October trading on a high note; euro zone inflation data in focus
A shopping street in Steglitz district, Berlin, Germany. Getty Images LONDON — European stocks kicked off October trading in positive territory after ending September on a somber note. The pan-European Stoxx 600 was up 0.2% in opening trade, with sectors and major bourses diverging. Tech and travel and leisure stocks led gains, both up 0.44%, […]
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Robinhood launches crypto transfers in Europe as it pushes overseas expansion
Key Points Retail investing platform Robinhood announced that it’s offering customers in Europe the ability to transfer cryptocurrencies in and out of its app. The company is looking to broaden its product capabilities in the region as it ramps up its international expansion. The company said that it’ll allow customers in the European Union to […]
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Cybersecurity firm Proofpoint considers pre-IPO funding as it plots a return to public markets
Sumit Dhawan, CEO of Proofpoint, took the reins as head of the cybersecurity company in 2022, a year after it was acquired by Thoma Bravo for $12.3 billion. He’s been pushing the firm to consider strategic opportunities such as mergers and acquisitions of smaller cybersecurity players to boost the company’s market expansion and stimulate industry […]
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China’s stock surge has echoes of the 2015 bubble. What’s different this time
Key Points Over six months from 2014 to 2015, the Chinese stock market doubled in value, while leverage climbed, Aaron Costello, regional head for Asia at Cambridge Associates, pointed out Monday. This time around, the market hasn’t run up as much, while leverage is lower, he said. “We’re not in the danger zone yet.” What’s […]
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East and Gulf Coast ports strike, with ILA longshoremen walking off job from New England to Texas, stranding billions in trade
Shipping containers sit stacked in the Port of Newark on September 30, 2024 seen from New York City. A massive strike shutting down ports across the East and Gulf coasts began at midnight as members of the International Longshoremen’s Association continue to make salary and other demands to the United States Maritime Alliance, which controls […]
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China’s economic woes dampen ‘Golden Week’ holiday travel
Passengers arrive at the Beijing railway station on the first day of peak travel ahead of the National Day holidays in China’s capital city on Sept. 29, 2023. Jade Gao | Afp | Getty Images China is expecting to see more travelers during Golden Week, but the country’s persistent economic woes will likely continue to […]
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Japan’s next prime minister is a career dissenter, but experts doubt he can govern as one
Newly-elected leader and sitting chairperson of the Liberal Democratic Party (LDP) Shigeru Ishiba speaks during a press conference following his election in the party leadership elections on September 27, 2024 in Tokyo, Japan. Pool | Getty Images News | Getty Images Shigeru Ishiba, the man set to become the next leader of Japan, has made […]
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