What happened: GameStop (GME) stock pared losses to drop 2% on Tuesday. What’s behind the move: Online marketplace eBay (EBAY) rejected the video game retailer’s unsolicited $56 billion bid. In a letter to GameStop CEO Ryan Cohen, eBay board of directors chair Paul Pressler wrote, “We have concluded that your proposal is neither credible nor…
By Stefano Rebaudo May 12 (Reuters) – The U.S. dollar extended gains for a second straight session on Tuesday, underpinned by sustained uncertainty over the Middle East conflict that drove investors into the greenback as a traditional safe haven. The greenback rose sharply in March as the currencies of oil-reliant economies such as Japan and…
Woking, United Kingdom-based Linde plc (LIN) operates as an industrial gas company worldwide. The company has a market cap of $228 billion and offers atmospheric gases, including oxygen, nitrogen, argon, and rare gases; and process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, electronic gases, specialty gases, and acetylene. LIN shares have lagged behind the…
Offshore wind farm generating clean renewable energy Aire Images/Getty Images Infrastructure secondaries fundraising and dealmaking have set new records, as investors build a market around a long-standing mismatch between private market fund cycles and asset lifespans. Fundraising for the asset class reached a record $11.5 billion globally last year, driven by a handful of larger…
By Svea Herbst-Bayliss and Aditya Soni New York, May 12 (Reuters) – EBay on Tuesday rejected a $56 billion takeover bid from the much smaller GameStop over financing doubts, calling the proposal “neither credible nor attractive.” EBay, which has roughly four times GameStop’s market value, also underscored that its turnaround efforts under CEO Jamie Iannone…
By Kenrick Cai, Deepa Seetharaman and Jonathan Stempel OAKLAND, California, May 12 (Reuters) – OpenAI Chief Executive Sam Altman on Tuesday rejected Elon Musk’s claim that he betrayed the ChatGPT maker’s founding mission to serve the public good, and said it was Musk who was interested in seizing control of OpenAI and making money from…
BofA Global Research is the latest brokerage to revise its Federal Reserve rate-cut forecast to much later dates, citing elevated inflation due to high energy prices and growing strength in the labor market. BofA Global Research now expects the Fed to remain on hold for the rest of this year, with two quarter-point cuts in…
Consumer prices rose 0.6% in April over the previous month, according to data released by the Bureau of Labor Statistics on Tuesday morning, in line with expectations and below March’s 0.9% increase. The inflation measure rose 3.8% year over year, exceeding expectations of 3.7% and March’s 3.3% reading. April’s year-over-year increase is the largest such jump since…
The story of Flex (FLEX) is suddenly looking very intriguing amid current AI infrastructure hype. FLEX stock saw a rally of 5% on May 5 and a 40% gain on May 6 following its recent earnings results and impressive fiscal 2027 guidance, as well as plans to spin off its Cloud and Power Infrastructure division….
By David Shepardson WASHINGTON, May 11 (Reuters) – Chinese wireless device manufacturer Quectel Wireless Solutions sued the Pentagon on Monday over its inclusion in a U.S. list of companies allegedly aiding Beijing’s military. The Pentagon added Quectel in January to a list of companies it says work with China’s military. However, Quectel strongly denied the…
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