U.S. aims to hobble China’s chip industry with sweeping new export rules

U.S. aims to hobble China’s chip industry with sweeping new export rules

Oct 7 (Reuters) – The Biden administration on Friday published a sweeping set of export controls, including a measure to cut China off from certain semiconductor chips made anywhere in the world with U.S. tools, vastly expanding its reach in its bid to slow Beijing’s technological and military advances. The rules, some of which go … Read more

EU leaders reaffirm support for Ukraine, squabble over gas cap

EU leaders reaffirm support for Ukraine, squabble over gas cap

Division over details of gas price cap European Commission to make proposals for EU summit on Oct.20-21 Poland criticises Germany for big spending on compensation EU27 vow continued financial and military support for Ukraine Scholz says rebuilding Ukraine will take a generation PRAGUE, Oct 7 (Reuters) – European Union leaders on Friday agreed to give … Read more

Credit Suisse pays down debt to calm investor fears

Credit Suisse pays down debt to calm investor fears

To buy back up to $3 billion in debt Seen as bid to reassure nervous investors Move comes weeks ahead of planned overhaul Shares up as much as 3% in early trade ZURICH, Oct 7 (Reuters) – Credit Suisse (CSGN.S) will buy back up to 3 billion Swiss francs ($3 billion) of debt, the embattled … Read more

London’s FTSE 100 falls for second day as Shell weighs

London’s FTSE 100 falls for second day as Shell weighs

FTSE 100 down 0.8%, FTSE 250 adds 0.4% Imperial Brands rises on share buyback plan Weaker refining, gas trading to hit Shell’s Q3 results Construction activity improves unexpectedly Oct 6 (Reuters) – UK’s FTSE 100 index fell on Thursday with Shell weighing on the commodity-heavy index after the oil major said its third-quarter profits would … Read more

Exclusive: Apollo, Sixth Street no longer in talks to finance Twitter deal

Exclusive: Apollo, Sixth Street no longer in talks to finance Twitter deal

NEW YORK, Oct 5 (Reuters) – Apollo Global Management Inc (APO.N) and Sixth Street Partners, which had been looking to provide financing for Elon Musk’s proposed $44 billion buyout of Twitter Inc (TWTR.N), are no longer in talks with the billionaire entrepreneur, said two sources familiar with the matter. Apollo had been in talks to … Read more

Musk, Twitter may reach deal to end court battle as early as Wednesday -source

Musk, Twitter may reach deal to end court battle as early as Wednesday -source

WILMINGTON, Del., Oct 5 (Reuters) – Elon Musk and Twitter Inc (TWTR.N) may reach an agreement to end their litigation as soon as Wednesday and clear the way for the world’s richest person to close his $44 billion deal for the social media platform, a source familiar with the litigation told Reuters. Chancellor Kathaleen McCormick, … Read more

Banks financing Musk’s Twitter deal face hefty losses

Banks financing Musk’s Twitter deal face hefty losses

Oct 5 (Reuters) – Elon Musk’s U-turn on buying Twitter Inc (TWTR.N) could not have come at a worse time for the banks funding a large portion of the $44 billion deal and they could be facing significant losses. As in any large acquisition, banks would look to sell the debt to get it off … Read more

Dust settles on stocks surge, OPEC+ talks supply cuts

Dust settles on stocks surge, OPEC+ talks supply cuts

LONDON, Oct 5 (Reuters) – World stocks clung to two-week highs on Wednesday, although another aggressive rate increase from New Zealand tempered the idea that central banks may be close to slowing down the pace of rapid monetary tightening. Oil prices were little changed before a meeting of OPEC+ producers to discuss a big cut … Read more

OPEC+ heads for deep supply cuts, clash with U.S.

OPEC+ heads for deep supply cuts, clash with U.S.

VIENNA/LONDON, Oct 5 (Reuters) – OPEC+ looks set for deep cuts to its oil output targets when it meets on Wednesday, curbing supply in an already tight market despite pressure from the United States and others to pump more. The potential OPEC+ cut could spur a recovery in oil prices that have dropped to about … Read more

London’s Battersea Power Station reborn as office and shopping hub

London’s Battersea Power Station reborn as office and shopping hub

LONDON, Oct 4 (Reuters) – London’s Battersea Power Station reopens next week as a glitzy hub of offices, flats, restaurants and shops after decades of failed attempts to reinvigorate one of the capital’s most iconic buildings, often described as the “Everest of real estate”. The 1930s power station once supplied a fifth of London’s electricity, … Read more