Saudi Aramco joins oil results bonanza with 39% jump in net income
Saudi Arabian state oil producer Aramco beat forecasts on Tuesday with a 39% jump in third-quarter net income and reported record free cash flows, joining rivals in benefiting from higher prices and robust demand.
European stocks hit six-week high, investors focus on Fed
European stocks rose in early trading on Tuesday, supported by speculation among investors that central banks could come to the end of their rate-hiking cycles.
Exclusive: Tesla plans mass production start for Cybertruck at end of 2023
Tesla aims to start mass production of its Cybertruck at the end of 2023, two years after the initial target for the long-awaited pickup truck Chief Executive Elon Musk unveiled in 2019, two people with knowledge of the plans told Reuters.
Blackstone to buy majority stake in Emerson’s climate tech unit in $14 bln deal
Emerson Electric Co will sell a majority stake in its climate technologies unit to Blackstone Inc in a deal that values it at $14 billion, the latest revamp by the U.S. industrial firm as it focuses on the booming automation market.
Exclusive: KKR raises $6 billion for biggest Asia infrastructure fund
KKR & Co Inc has raised nearly $6 billion for its second Asia Pacific infrastructure fund at the first-close, marking the biggest ever private equity fundraising for the sector in the region, two sources familiar with the matter told Reuters.
NatWest shares plunge after warning on rising costs
NatWest’s shares fell as much as 9% on Friday after the British bank warned of rising costs, and as its third-quarter results were hit by a deteriorating UK economic outlook that prompted an increase in bad debt provisions.
UK banks start cutting ‘Truss premium’ from mortgage rates, but slowly
Having hiked mortgage rates after political turmoil drove up the cost of borrowing, British banks are now cutting home loan prices, albeit slowly, as markets calm since Liz Truss’s government collapsed and Rishi Sunak took power.
Analysis: Cracks appear in Credit Suisse comeback plans
After months of reflecting, Credit Suisse’s chairman Axel Lehmann revealed an overhaul “to rebuild Credit Suisse as a strong … bank with a firm foundation, rock-solid like our Swiss mountains”. It did not take long for the first cracks to appear.
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Japan ramps up intervention threats after yen slides past key 150 level
Japanese policymakers made fresh threats of intervention on Thursday after the yen tumbled past the key psychological level of 150 to the dollar, keeping investors on high alert in case Tokyo steps into markets again to support the fragile currency.
