Activist fund asks French watchdog to probe Vivendi’s music spin-off
Activist fund Bluebell has asked France’s markets regulator to look into disclosures by media company Vivendi (VIV.PA) around its Universal Music Group spin-off, arguing the company did not reveal some steps around the transaction to shareholders.
Asian shares tick up U.S. data bolsters reopening hopes
Asian shares edged up to near three-month highs on Wednesday and global equities held steady near a record as data showing higher U.S. manufacturing activity in May cheered investors looking for signs of a continued rebound in the world’s largest economy.
TSMC says has begun construction at its Arizona chip factory site
Taiwan Semiconductor Manufacturing Co Ltd (2330.TW) (TSMC) has started construction at a site in Arizona where it plans to spend $12 billion to build a computer chip factory, its chief executive said on Tuesday.
AMC shares soar nearly 23% after fund buys and flips $230 mln stake
A hedge fund that helped AMC Entertainment Holdings (AMC.N) raise $230 million quickly sold its stake in the world’s largest cinema chain at a profit, according to a source on Tuesday, when the “meme stock” soared more than 20%.
Stocks loiter around peaks as traders wait for data
Stocks chopped around record peaks on Tuesday, while the dollar was pinned near recent lows, as markets awaited U.S. jobs data and looked ahead to crucial central bank meetings in Europe and United States for guidance on the interest rates outlook.
S.Korea’s inflation hits 9-year high as commodity prices jump
South Korea’s consumer inflation accelerated to a more than nine-year high in May, reinforcing calls for gradual monetary tightening, though the increase was mainly due to a low base effect and rises in oil and agricultural prices.
S&P 500 dips, as healthcare weighs; Dow ends higher
The S&P 500 (.SPX) dipped on Tuesday, with declines in healthcare and tech shares countered by energy and financial gains, as investors weighed the latest U.S. economic data for signs of a rebound and rising inflation.
Analysis: China’s banks are bursting with dollars, and that’s a worry
A mountain of dollars on deposit in China has grown so large that banks are struggling to loan the currency and traders say it poses a risk to official efforts to control a fast-rising yuan.
U.S. manufacturing gains steam; raw material, labor shortages mounting
U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders, but unfinished work piled up because of shortages of raw materials and labor.
Zoom forecasts upbeat revenue, expects boost from hybrid work
Zoom Video Communications Inc (ZM.O) on Tuesday forecast current-quarter revenue above estimates, as increased adoption of hybrid work models by companies is expected to drive steady demand for its video conferencing tools.
