Asian shares rise as Fed cheer offsets trade, UK angst

Asian shares rise as Fed cheer offsets trade, UK angst
TOKYO (Reuters) – Asian stocks edged higher on Thursday after the Federal Reserve signaled rate settings were likely to remain accommodative but the imminent UK election and a deadline for Sino-U.S. trade talks kept investors cautious. FILE PHOTO: A man looks on in front of an electronic board showing stock information at a brokerage house in Nanjing, Jiangsu province, China... Read More

Continental Resources founder Hamm to step down as CEO

Continental Resources founder Hamm to step down as CEO
(Reuters) – Legendary U.S. oilman Harold Hamm, who once called the Organization of the Petroleum Exporting Countries a “toothless tiger,” will step down as chief executive of Continental Resources (CLR.N) and become its executive chairman, the company said on Wednesday. FILE PHOTO: Harold Hamm of Continental Resources introduces himself at a dinner for business leaders hosted by U.S. President Donald... Read More

U.S. consumer inflation rises; Fed seen staying pat

U.S. consumer inflation rises; Fed seen staying pat
WASHINGTON (Reuters) – U.S. consumer prices increased solidly in November, which together with labor market strength could support the Federal Reserve’s intention not to cut interest rates again in the near term after reducing borrowing costs three times this year. FILE PHOTO: Customers shop during Black Friday sales at a Target store in Chicago, Illinois, U.S. November 29, 2019. REUTERS/Joshua... Read More

U.S. inflation firms in November; Fed seen on hold

U.S. inflation firms in November; Fed seen on hold
WASHINGTON (Reuters) – U.S. consumer prices increased solidly in November, which together with labor market strength could support the Federal Reserve’s intention not to cut interest rates again in the near term after reducing borrowing costs three times this year. FILE PHOTO: Customers shop during Black Friday sales at a Target store in Chicago, Illinois, U.S. November 29, 2019. REUTERS/Joshua... Read More

‘Vindication’ – Saudi Arabia hails 10% debut jump in Aramco shares

‘Vindication’ – Saudi Arabia hails 10% debut jump in Aramco shares
RIYADH/DUBAI (Reuters) – Saudi Aramco (2222.SE) shares surged the maximum permitted 10% above their IPO price on their Riyadh stock market debut on Wednesday, in a move hailed by the government as a vindication of its towering $2 trillion valuation of the state oil company. Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO)... Read More

Siemens names strategy chief Kayser to lead portfolio companies

Siemens names strategy chief Kayser to lead portfolio companies
The logo of German industrial group Siemens is seen in Zurich, Switzerland, January 30, 2019. REUTERS/Arnd Wiegmann ZURICH (Reuters) – Siemens named its strategy chief and former Kuka CEO Horst J. Kayser as boss of its loss-making portfolio companies, the German engineering company said on Wednesday. Kayser, 58, will replace Jochen Eickholt as chairman of the six businesses which Siemens... Read More

Boost for Saudi Arabia as Aramco shares surge 10% on debut

Boost for Saudi Arabia as Aramco shares surge 10% on debut
RIYADH/DUBAI (Reuters) – Saudi Aramco (2222.SE) shares surged the maximum permitted 10% above their initial public offering (IPO) price on their Riyadh stock market debut on Wednesday, closing in on the $2 trillion valuation long sought by Saudi Crown Prince Mohammed bin Salman. Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the... Read More

Aramco IPO to help Saudi economy shift from oil: finance minister

Aramco IPO to help Saudi economy shift from oil: finance minister
RIYADH (Reuters) – Saudi Aramco’s listing will boost the kingdom’s efforts to diversify from oil as the bulk of proceeds will be injected in domestic projects, while the global buzz surrounding the deal will help lure foreign capital, the finance minister said. Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s... Read More

Interview: Aramco IPO to help Saudi economic shift from oil – finance minister

Interview: Aramco IPO to help Saudi economic shift from oil – finance minister
RIYADH (Reuters) – Saudi Aramco’s listing will boost the kingdom’s efforts to diversify from oil as the bulk of proceeds will be injected in domestic projects, while the global buzz surrounding the deal will help lure foreign capital, the finance minister said. Participants attend the official ceremony marking the debut of Saudi Aramco’s initial public offering (IPO) on the Riyadh’s... Read More