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Reuters reported on Sunday, citing sources, that ArcelorMittal was in talks to merge its U.S. operations with Cleveland-Cliffs. ArcelorMittal said last year it was aiming to offload $2 billion of assets by the middle of 2021 to reduce its debt....
Sep.28 -- Ram Parameswaran, founder and portfolio manager at Octahedron Capital Management, discusses the sale of ByteDance Ltd.’s U.S. operation to Oracle Corp. and Walmart Inc. and a federal judge blocking President Donald Trump’s ban on TikTok. He speaks on “Bloomberg Markets: Asia.”...
Sep.28 -- Manny Maceda, worldwide managing partner at Bain & Co., discusses the company’s report on the lessons learned from the pandemic and the future of work post-coronavirus. He speaks on “Bloomberg Markets: Asia.”...
(Bloomberg) -- Semiconductor Manufacturing International Corp. retreated to a four-month low in Hong Kong after the U.S. imposed export restrictions on China’s largest chipmaker.The shares slumped as much as 7.9% on Monday, adding to their 25% loss for the month. Also listed in Shanghai, SMIC’s stock there retreated as much as 6.6% to the lowest level since its July debut. U.S. firms must now apply for a license to export certain products to the chipmaker, the Commerce Dept. said in a letter dated Sept. 25, reviewed by Bloomberg News. SMIC and its subsidiaries present “an unacceptable risk of diversion to a military end use,” the department’s Bureau of Industry and Security wrote.Read more: U.S. Imposes Restrictions on Exports to China’s Top ChipmakerThe U.S. stopped short of placing SMIC on the so-called entity list, which means the restrictions are not yet as severe as those imposed on China’s Huawei Technologies Co. Still,...
Spot gold was up 0.1% at $1,861.13 per ounce by 0503 GMT. U.S. gold futures were steady at $1,865.90. "Gold is going to be driven by the tenor of the U.S. dollar," said Stephen Innes, chief market strategist at AxiCorp....
Spot gold was up 0.1% at $1,861.16 per ounce by 0703 GMT. U.S. gold futures were down 0.3% at $1,861.60. "Gold is going to be driven by the tenor of the U.S. dollar," said Stephen Innes, chief market strategist at AxiCorp....
Mornings have been lacking in joy this month for investors seeking returns in U.S. stocks. On average, losses on the benchmark S&P 500 index have been steepest between 10 a.m. and 11 a.m. Eastern (1400-1500 GMT), and every hour thereafter during the session has registered declines. Overall, the S&P 500 has registered losses for four straight weeks, its longest such streak in a year....
