Stocks

By Saqib Iqbal Ahmed and Sohini Podder NEW YORK (Reuters) -BlackRock Inc topped third-quarter profit estimates helped by robust performance fees and strong demand for its actively managed and sustainable funds, even as volatile markets hindered the world’s largest money manager from growing its assets under management. Asset managers have benefited from rising global financial… More

BEIJING (Reuters) – Japan’s Honda Motor will launch a new electric vehicle brand in China next year, it said on Wednesday, and will only launch battery electric, hydrogen fuel-cell or petrol-electric hybrid vehicles there from 2030. Known for its fuel-efficient internal-combustion engines, Honda sold over 1.6 million vehicles in China last year. The new brand… More

By Andrew Galbraith and Marc Jones SHANGHAI/LONDON (Reuters) – The rumbling crisis at China Evergrande Group and other major homebuilders drove debt market risk premiums on weaker Chinese firms to a record high on Wednesday and triggered a fresh round of credit rating downgrades. Evergrande, which has more than $300 billion in liabilities and 1,300… More

By Nick Carey and Tina Bellon LONDON (Reuters) -European and U.S. cities planning to phase out combustion engines over the next 15 years first need to plug a charging gap for millions of residents who park their cars on the street. For while electric vehicle (EVs) sales are soaring in Europe and the United States,… More

By Abhirup Roy and Aditya Kalra NEW DELHI (Reuters) -Indian TV network Zee Entertainment is locked in a legal battle with its top investor Invesco after the U.S. firm, citing corporate governance concerns, called for the CEO’s removal and a revamp of the company’s board. Zee has said it has tightened its governance, but the… More

By Geoffrey Smith  Investing.com — Stocks in focus in premarket trade on Wednesday, 13th October. Please refresh for updates. JPMorgan (NYSE:JPM) stock rose a modest 0.6% after relying heavily on reserve releases to ensure that its third-quarter earnings beat street forecasts. Revenue from trading and even from M&A fell from the previous quarter, and the… More

By Tom Käckenhoff DUESSELDORF (Reuters) -German utility Uniper is planning to cut one in 10 jobs over the next few years, the group’s works council head said, as it shifts services towards renewables and hydrogen and away from fossil fuel-based power plants, except its own. Harald Seegatz, who sits on Uniper’s supervisory board, said the… More

By John Revill ZURICH (Reuters) -Sika can overcome rising raw material costs globally and uncertainty in China linked to debt concerns at developer China Evergrande to reach its 2021 goals, Chief Executive Thomas Hasler said on Thursday. The Swiss construction chemicals maker expects to increase its sales when measured in local currencies by 13%–17% this… More

PRAGUE (Reuters) – Skoda Auto, part of Volkswagen (DE:VOWG_p) and the Czech Republic’s biggest exporter, will significantly reduce or perhaps halt production from the week starting Oct. 18 until the end of the year due to the global shortage of chips hobbling the automotive sector. Carmakers around the world are struggling with a shortage of… More

By Eric M. Johnson SEATTLE (Reuters) – Twenty years ago, just days before the 9/11 attacks on the United States crippled the aerospace industry, Boeing (NYSE:BA) Co moved its headquarters from its historic Seattle manufacturing hub to a stylish downtown Chicago skyscraper. The move was central to Boeing’s plan to forge a new identity as… More

By Dhirendra Tripathi Investing.com – Shares of Tilray (NASDAQ:TLRY) traded nearly 3% higher in Thursday’s premarket as the pot producer rode high demand for cannabis during lockdowns to drive its first-quarter revenue higher by 43%. June-August revenue rose to $168 million from $117.5 million a year earlier. Net cannabis revenue jumped 38% as more people… More

(Reuters) – Weakness in oil prices weighed on Canadian stock futures on Friday, with investors awaiting GDP data for cues about the pace of the country’s economic recovery. Oil fell below $78 a barrel on the prospect that OPEC+ producers might step up a planned increase in output to ease supply concerns. [O/R] December futures… More

(Reuters) – Coty (NYSE:COTY) Inc said on Friday it would swap around 9% of its stake in professional beauty business Wella with KKR & Co (NYSE:KKR) Inc for some of the cosmetic maker’s shares the U.S. buyout firm owns, valuing the deal at $426.5 million. The deal cuts Coty’s stake in Wella to around 30.6%,… More

By Dhirendra Tripathi Investing.com – Jefferies stock (NYSE:JEF) traded 1.6% higher in Friday’s premarket as high momentum in the investment banking business drove the company’s third-quarter results well past estimates. It has been a boom time for investment bankers as the pandemic-fueled craze for deal-making and fund-raising has meant big business in fees for industry… More