GameStop, AMC Shares Rise After Two-Day $7 Billion Wipeout
GameStop Corp. and AMC Entertainment Holdings Inc. were set to snap a two-day rout that erased about $7 billion in value, amid further signs of this week’s meme-stock frenzy fading.
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GameStop Corp. and AMC Entertainment Holdings Inc. were set to snap a two-day rout that erased about $7 billion in value, amid further signs of this week’s meme-stock frenzy fading.
The French government is moving to regain full control of the Pacific territory of New Caledonia, High Commissioner Louis Le Franc said, as extra security forces arrive in the archipelago to end a week of violent protests by pro-independence groups.
BlackRock Inc.’s Rick Rieder has some advice that bucks conventional wisdom: The best way for the Federal Reserve to temper inflation will be to lower rates, not hold them higher.
Israel denied it’s committing genocide in Gaza after South Africa filed a request at the International Court of Justice for emergency measures against its military operations in the Palestinian enclave to stop what it called the destruction of Gaza.
The People’s Bank of China will establish a nationwide program to unleash 300 billion yuan ($41.5 billion) in cheap funding to help state-owned companies buy unsold homes.
JPMorgan Chase & Co.’s asset management arm has created a new European money market fund focused on public debt, a kind of investment that largely disappeared when interest rates were negative.
European Central Bank Executive Board member Isabel Schnabel warned against back-to-back interest-rate cuts in June and July.
Georgia’s president warned the country may lose its chance to join the European Union if the government pushes ahead with a controversial “foreign agent” law in the face of huge protests.
European stocks retreated further from this week’s record levels as dialed-down bets for Federal Reserve policy easing prompted a pull-back from riskier assets.
Emerging-market stocks and currencies headed for a fourth consecutive week of gains as investors weighed US rate cut prospects amid fresh efforts by developing nations to shore up their economies from China to Turkey.
When the office softball group or five-a-side football team goes on a winning streak, it’s a nice pep for morale rather than the balance sheet.
Oil headed for a modest weekly gain as futures stayed in a narrow range, with the outlook for supply and inflation in focus.
Long-duration bonds are set for a comeback later in 2024 as macroeconomic conditions soften, according to strategists at Bank of America Corp.
(Bloomberg) --
Shares of Chinese property developers extended a rally after Beijing announced forceful measures to shore up the beleaguered property market.
Richemont named the head of its fast-growing Van Cleef & Arpels jewelry brand as chief executive officer in a move that will see chairman and controlling shareholder Johann Rupert give up some of his management duties.
China’s international air passenger traffic recovered to over 80% of pre-Covid levels in April, reflecting efforts by Beijing to attract more overseas visitors to the nation’s shores and a growing propensity of Chinese to travel abroad after the pandemic.
UK Chancellor of the Exchequer Jeremy Hunt said he’ll cut UK national insurance for a third time in the autumn if economic circumstances permit, as he reiterated a long-term goal to eliminate the payroll tax altogether.
Chinese electric vehicle maker Xpeng Inc. is bringing a sports utility vehicle and minivan to Hong Kong as it ramps up a global expansion to boost sales.
At least four people were killed and around 800,000 customers in Texas — about 6% of the total — were without power after an intense rainstorm swept through the Houston area.
Hong Kong launched a pilot program enabling digital yuan payments through major Chinese banks, the first example of China’s currency project being deployed beyond the mainland.
Land Securities Group Plc wrote down the value of its City of London office portfolio by almost 14% last year, dragging the UK commercial real estate landlord to a full year loss.
Deadly heat is engulfing several northern Indian states, while the south is getting heavy pre-monsoon rains, posing health risks for hundreds of thousands of people participating in election rallies.
Italian renewables group ERG SpA is planning to expand its footprint in the US through selective partnerships, aiming to make the most of generous incentives offered by the country.
Unilever Plc will keep making Cornetto and Carte D’Or in Russia even after shedding its global ice cream unit.
Prosus NV and Naspers Ltd. have named the first new chief executive officer since the South African-Dutch tech group split almost five years ago.
North Korea fired multiple short-range ballistic missiles toward waters off its east coast, hours after the outspoken sister of leader Kim Jong Un blasted as “fiction” accusations that her nation was exporting weapons to Russia.
Hungarian Prime Minister Viktor Orban said he has found himself more isolated within the European Union after an assassination attempt incapacitated his Slovak ally.
Ryanair Holdings Plc and Wizz Air Holdings Plc cap off an earnings season that has so far seen more than half of companies tracked by Bloomberg Intelligence beat estimates.
India’s young population will keep consumption demand high for the next three decades, underpinning rapid growth in the economy, Finance Minister Nirmala Sitharaman said.
Russia’s weeklong offensive in northeastern Ukraine is setting alarm bells ringing in Kyiv as President Volodymyr Zelenskiy and his generals rush to shore up their defenses.
Football’s global governing body opened the door to potentially moving its headquarters from Zurich, while stressing that it’s “happy” for now having its main office in Switzerland
GSK Plc will sell its remaining stake in Haleon Plc for £1.25 billion ($1.6 billion), completing the drugmaker’s separation from the consumer health company.
Russia’s attack on a new front in the northeast of Ukraine last week reached as far as 10 kilometers (6.2 miles) before being halted by Kyiv’s first line of defense in the Kharkiv region, President Volodymyr Zelenskiy said.
India’s biggest ever high-yield rupee corporate bond, held by a number of global private credit funds, is casting a spotlight on pockets of stress within the nation’s credit markets.
China’s economic recovery tilted even further toward manufacturing, leaving it more vulnerable to trade barriers and highlighting the stakes of a new bid to shore up domestic demand.
Two Malaysian law enforcement officers were killed following an attack on a police station in Johor state, triggering a roundup of members of a militant organization that the attacker had ties with, according to the country’s police chief.
All travelers into Singapore will be able to use automated lanes that scan passports and use facial and iris recognition by the end of year, the city-state’s Immigration & Checkpoints Authority said.
A £50 million ($63.3 million) service to fix problems between banks and their small business customers is set to close after three years.
Weather is rattling the rice market once more, driving prices of the food staple back to the cusp of 15-year highs after a period of calm.
A South Korean instant noodle maker’s stock jumped by their daily limit Friday after posting better-than-expected earnings with help from a product recently featured on social media by rapper Cardi B.
The president of San Miguel Corp., the Philippines’ largest conglomerate by sales, on Friday struck a confident tone on the company’s earnings prospects for the rest of the year, after foreign exchange losses weighed heavily on first-quarter profit.
South Africa likely achieved a primary budget surplus — where revenue exceeds non-interest expenditure — for the first time in 15 years, setting it on a path to arrest further growth in debt that’s already worryingly high.
China announced its most forceful attempt yet to shore up the beleaguered property market, easing mortgage rules and encouraging local governments to buy unsold homes from developers for conversion into affordable housing.
Malaysia’s economy grew faster than initially estimated in the first quarter, driven by private spending and a rebound in exports.
Nippon Life Insurance Co. is on the hunt to take stakes in other insurers and asset managers in the US and Asia after it agreed to its biggest-ever M&A deal.
French unemployment held steady at 7.5% in the first quarter of the year, highlighting the challenge President Emmanuel Macron faces to show his unpopular labor-market reforms are still getting results.
A new Asia hedge fund firm created by a former Goldman Sachs Group Inc. managing director will open its Hong Kong office at The Henderson.
Luxe hotelier Banyan Group is teaming up with developer RAV Bahamas Ltd. to create a lavish playground on the isle of Bimini, 30 minutes from Miami.
China processed a lower volume of crude in April as refiners shut operations to conduct planned seasonal maintenance.
Turkey is in advanced negotiations with Chinese electric vehicle manufacturers BYD Co. and Chery Automobile Co Ltd. for factory investments in the country, a step that could help the companies boost sales to Europe.
A coal-fired power project in South Korea that drew major opposition from environmentalists and K-Pop fans is beginning operations this week.
China’s strong economy and diverse trade partners will help mitigate the impact of additional US tariffs, according to a spokesperson for the nation’s statistics bureau.
New Zealand dairy farmers could be in for a big pay day if Fonterra Cooperative Group follows through on plans to exit its global consumer businesses.
Gold’s record-setting rally may have captured the headlines this year, but it’s silver that’s running harder and faster as the less glamorous metal benefits from robust financial and industrial demand.
Indian stocks are set for the biggest monthly outflow in nearly a year as election uncertainties and high valuations prompt some funds to shift to cheaper alternatives like Chinese equities.
China’s aluminum output climbed to a record to feed robust demand as manufacturing and exports power the country’s increasingly unbalanced economic recovery this year.
A day after signaling the central bank’s readiness to pivot to monetary easing, Philippine central bank Governor Eli Remolona said he would like to see easier liquidity conditions as policy may be becoming tighter than necessary.
A majority of Japanese companies considers the yen’s recent weakness a negative factor for their businesses, according to a recent survey.
A $9 billion fertilizer mine under the Yorkshire moors employs about 2,000 people. Now the project is at risk as Anglo fends off its rival.
Governments and companies want the clean fuel to play a big role in fueling the continent. If they’re wrong, the planet will be worse off than before.
The new blockbuster weight-loss shots can help patients trim more pounds than any medicines have before. Now drugmakers are rushing to solve another problem — making sure people keep their muscle even as they shed fat.
It’s fair for some European countries to fear that issuing common debt to bolster defense is a slippery slope to greater union, Nobel prize-winning economist Thomas J. Sargent said.
Angola’s central bank is set to deliver its first back-to-back interest-rate hike in almost a decade to show its resolve to arrest persistently high inflation.
China kicked off issuance of this year’s special sovereign bonds with a 30-year auction that drew demand of 3.9 times the amount on offer.
Ping An Insurance Group Co. is weighing options that would allow it to reduce its 8% stake in HSBC Holdings Plc, according to people familiar with the matter.
The Biden administration is initiating a suite of policies it says will help foster a deeper domestic supply chain for solar panels, following pleas from US manufacturers confronting a surge of tariff-free imports.
Shares of India’s vaunted IT outsourcing firms are facing a reality check, as global investors’ rush into the artificial intelligence theme starts to leave pricey old-economy tech stocks behind.
The Bank of Japan left the amount of bonds it buys at regular operations unchanged on Friday, contributing to a small decline in the yen after aiding the currency earlier in the week with a surprise reduction in purchases.
MBK Partners is considering selling Chinese spa and beauty clinic operator Shanghai Siyanli Industrial Co. as it looks to exit its investment, according to people familiar with the situation.
Passengers will see little respite from soaring air fares as carriers face a shortage of planes, labor and spare parts that will prevent them meeting booming travel demand.
China’s leading copper miner raised its output guidance at a time when prices have been rallying toward a record on expected deficits.
A record squeeze in the New York copper market eased somewhat on Friday, as CME Group Inc. raised trading margins and copper prices on the London Metal Exchange rallied to narrow the gap between the two markets.
Chevron Corp.’s $53 billion deal to buy Hess Corp. received a nod of support from a major proxy advisory firm that said shareholders should vote in favor of it.
Vietnam’s Communist Party approved the resignation of Politburo member Truong Thi Mai, making her the sixth official of the elite body to step down since 2022 amid expanding corruption probes.
China’s government plans to hold a meeting with key officials on Friday morning to discuss the property market, including a proposal to clear excess housing inventory, according to people with knowledge of the matter.
Over the past few years, Vietnam’s anti-graft drive has taken down a slew of top Communist Party leaders, including presidents, deputy prime ministers and Politburo members. But that hasn’t stopped foreign investors from pouring in cash.
Country Garden Holdings Co. has begun a major legal battle, squaring off in a Hong Kong court against a creditor seeking the liquidation of the defaulted Chinese developer.
Three Australian league soccer players have been arrested following an investigation into alleged betting corruption and will face court on Friday afternoon.
Dolce & Gabbana USA Inc. was sued by a customer who says the NFTs he spent $6,000 on that came with outfits to wear in the metaverse lost 97% of their value because the Italian luxury fashion house bungled their delivery.
Electric vehicle makers Li Auto Inc. and XPeng Inc. report next week amid disruptive moves by rivals in their home market. On top of another round of bruising price cuts initiated by Tesla Inc., Xiaomi Corp. joined the fray with the launch of its own car.
China’s home prices fell at a faster pace in April, underscoring why the government is stepping up efforts to tackle the years-long property crisis.
Macro funds in Asia used the dollar’s drop Thursday as an opportunity to buy it, in particular against the yen, according to traders.
China’s first issuance of this year’s special sovereign bonds on Friday is expected to see solid demand, according to strategists and gauges of sentiment in the bond market.
The outspoken sister of North Korea’s leader blasted accusations her nation is exporting weapons to Russia as a “fiction,” shortly after the US imposed new sanctions on the arms trade that Washington says is powering the Kremlin’s assault on Ukraine.
Gains from Indian bonds have surpassed those on Chinese debt this year and there are reasons to suggest the outperformance will continue.
A Jefferies Financial Group risk manager wondered why her contact at Archegos seemed to be in such a rush to withdraw hundreds of millions of dollars in excess cash from its trading account.
The World Bank said Thursday that it would seek “an outside firm” to look at the work of the bank’s ombudsmen regarding an inquiry into sexual abuse allegations at schools in Kenya.
An anti-tax advocacy group with ties to billionaire Jeff Yass and shipping magnate Richard Uihlein is jockeying for a fresh round of corporate levy cuts should Donald Trump win a second term in the White House.
Professionals who thought they’d won a secure place in the rising middle class are now looking for work and scraping by.
Investors are divided on the likelihood of the Bank of Japan repeating its surprise move earlier this week by reducing purchases of government bonds in a regular buying operation this morning.
HSBC Holdings Plc is rolling out accounting and tax tools for its small UK business customers, who will soon have to give the government a lot more information on their finances.
Reddit Inc. forged a partnership with OpenAI that will bring its content to the chatbot ChatGPT and other products, while also helping the social media company add new artificial intelligence features to its forums.
Suriname’s discovered oil resources now total more than 2.4 billion barrels of crude and liquids, and the nation has more than 12.5 trillion cubic feet of gas, according to Wood Mackenzie.
Gridiron Capital senior managing director Will Hausberg and managing directors Brad Skaf and Doug Rosenstein are leaving the private equity firm, according to people with knowledge of the matter.
Commuters in Buenos Aires will see subway fares quadruple Friday morning, a consequence of President Javier Milei’s austerity drive.
Donald Trump’s lawyer at his hush money trial grilled Michael Cohen for hours on the witness stand Thursday about possible inconsistencies in his testimony and his well-documented history of lying under oath.
Several Federal Reserve officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates.
Snowflake Inc. is in talks to acquire startup Reka AI for more than $1 billion, expanding the software maker’s effort to offer generative AI capabilities, according to people familiar with the matter.
President Gustavo Petro met with Colombia’s central bank board a day after accusing them of throttling the nation’s economic growth.