Day: January 24, 2025
Monte dei Paschi shares fall 6% after lender launches surprise 13-billion-euro bid for Mediobanca
Key Points Offering 23 of its shares for 10 of its acquisition target, Monte dei Paschi values Mediobanca’s stock at roughly €15.992 each, a 5% premium to the close price of Jan. 23. Monte dei Paschi, the world’s oldest bank, required a state rescue in 2017 after years of crippling losses, but has turned the […]
Read More
UK to soften tax rules for wealthy foreigners after millionaire exodus, Rachel Reeves says
Rachel Reeves, UK Finance Minister, speaking on CNBC’s Squawk Box outside the World Economic Forum in Davos, Switzerland on Jan. 22, 2025. Gerry Miller | CNBC The U.K. will soften some planned changes to its controversial non-dom tax rule following concerns of a millionaire exodus, the Treasury has confirmed. Britain’s 200-year-old non-dom regime permits people […]
Read More
Trump is searching for potential TikTok buyers — who are the likely contenders?
A 3D-printed miniature model of U.S. President-elect Donald Trump and TikTok logo are seen in this illustration taken January 19, 2025. Dado Ruvic | Reuters President Donald Trump wants a U.S. investor to take a major stake in ByteDance’s TikTok. Several parties are in contention even as potential buyers face a litany of legal hurdles […]
Read More
Burberry shares jump 13% as quarterly sales dip less than expected
Shoppers walk into a Burberry store at Fashion Valley, an upscale shopping mall on December 13, 2024 in San Diego, California. Kevin Carter | Getty Images News | Getty Images Shares of Burberry jumped nearly 13% on Friday after the company reported a shallower-than-expected dip in sales in the fiscal third quarter, providing a first […]
Read More
European markets set to open higher amid calls for lower interest rates by Trump
European equity markets are set to open higher on Friday to cap a positive week for stocks. The U.K.’s FTSE 100 is set to open marginally positive, while Germany’s DAX and France’s CAC 40 are expected to open higher by 0.4%, according to FactSet futures data. Meanwhile, the pan-European Stoxx 600 index is expected to […]
Read More
Business leaders can no longer ignore the ‘north-south’ climate divide, top UN official warns
The United Nations’ top corporate sustainability chief warned business leaders they can no longer ignore the growing “north-south divide” on climate change. Sanda Ojiambo, CEO and executive director of U.N. Global Compact — a body responsible for overseeing business commitments to achieving sustainable development goals — told CNBC’s Steve Sedgewick that “climate has become a […]
Read More
Tesla starts sales of revamped Model Y in U.S. for about $60,000
Tesla will start deliveries of a revamped version of its Model Y SUV in the U.S. in March, according to new listings on the company’s website. The Model Y Juniper has a price tag of $59,990, not including a federal tax credit of $7,500 for new electric vehicle purchases. It features a redesigned fascia, front […]
Read More
Trump praises President Xi, says he looks forward to ‘getting along with China’
President Donald Trump and Chinese President Xi Jinping on April 6, 2017. Carlos Barria | Reuters U.S. President Donald Trump said Thursday that he has “always had a great relationship” with Chinese President Xi Jinping and that he looks forward to “getting along with China.” The U.S. and China will “have a very good relationship,” […]
Read More
Bank of Japan hikes policy rates by 25 basis points to highest since 2008
Bank of Japan Governor Kazuo Ueda responds to questions during a Governors talk on Japanese inflation and monetary policy at the International Monetary Fund (IMF) and the World Bank Group 2024 Fall Meeting in Washington, U.S., October 23, 2024. Kaylee Greenlee Beal | Reuters The Bank of Japan hiked rates by 25 basis points Friday […]
Read More
Asia-Pacific markets track Wall Street gains as Trump pushes for rate cuts
Osaka, Japan. Jiale Tan | Moment | Getty Images Asia-Pacific markets climbed Friday, after the S&P 500 hit record highs on Thursday as U.S. President Donald Trump called for lower interest rates and cheaper oil prices. Japan’s core inflation rate rose to a 16-month high at 3% in December, year on year, boosting the case […]
Read More