Ubisoft shares tumble as Tencent deal seen dampening buyout prospects
Shares in Ubisoft Entertainment (UBIP.PA) tumbled on Wednesday after it announced a deal that sees China’s Tencent Holdings (0700.HK) raise its stake in the company, a move which analysts say dampens the prospect of a full sale of the French game maker.
Top European bankers warn on recession, China and U.S. banks
Deutsche Bank (DBKGn.DE) chief Christian Sewing, painting a bleaker assessment of the German economy, warned on Wednesday that China was a considerable risk for the nation and that Europe needed big banks to fend off American competitors.
Analysis: Europe’s banks dim lights as they brace for winter blackout
Some of Europe’s biggest banks are preparing back-up generators and to dim the lights as they brace for potential power cuts and energy rationing that threaten the money system underpinning the region’s economy.
Stocks fall on rate hike bets, yen drops to 24-year low
European stock markets opened in the red on Wednesday after U.S. economic data prompted traders to ramp up Federal Reserve rate hikes bets, pushing the dollar to a 24-year high against the Japanese yen.
Putin says wants to restrict destinations for Ukraine’s grain exports
Russian President Vladimir Putin on Wednesday warned of a looming global food crisis and said he would discuss amending a landmark grain deal with Ukraine to limit the countries that can receive cargo shipments.
Japan’s services sector shrinks for first time in five months in August – PMI
Japan’s services sector activity shrank for the first time in five months in August as a resurgence of COVID-19 infections hurt demand, a business survey showed.
Evergrande winding-up lawsuit in Hong Kong adjourned to Nov 7
Hong Kong’s High Court approved on Monday an application by China Evergrande Group (3333.HK) and its major offshore credit group to adjourn a winding-up petition against it to Nov. 7.
EU gas price rockets higher after Russia halts Nord Stream flows
European gas prices rocketed as much as 30% higher on Monday after Russia said one of its main gas supply pipelines to Europe would stay shut indefinitely, stoking renewed fears about shortages and gas rationing in the European Union this winter.
Meta, Qualcomm sign pact on custom virtual reality chips
Meta Platforms Inc (META.O) signed an agreement to have chip-maker Qualcomm Inc (QCOM.O) produce custom chipsets for its Quest virtual reality (VR) devices, the companies announced at a consumer electronics conference in Berlin on Friday.
EXCLUSIVE Hollysys management to lead take-private deal at $1.8 bln valuation -sources
A consortium led by China’s Hollysys Automation Technologies management plans to take the U.S.-listed automation and control system maker private in a deal that would value the firm at $1.8 billion, people with knowledge of the matter said.
