Stock Market News

. Italy mulls 1 billion euro rescue for ailing bank Pop Bari: sources By Giuseppe FonteROME Italy's cabinet was expected to meet on Sunday evening to approve a decree that would provide a 1 billion euro ($1.1 billion) lifeline to cooperative lender Banca Popolare di Bari, two sources with knowledge of the matter said.The bank, which said last week it need

. Russia to finalize 2020-2022 privatization goals on December 19: source MOSCOW Russia will take a step forward with its long-awaited privatization program next week when it finalizes a list of companies it hopes to sell in 2020-2022, a source familiar with the matter said on Sunday.Russia has been trying to sell some of these companies for years but has

. Participants attend the official ceremony marking the debut of Saudi Aramco's IPO on the Riyadh's stock market, in Riyadh DUBAI Saudi Aramco (SE:2222) shares gained for a third consecutive day on Sunday, rising 1.63% to 37.4 Saudi riyal ($9.97), pushing the company's value back toward the $2 trillion level it topped last week. The state-owned oil com

By Kirstin Ridley and Simon JessopLONDON Tens of trillions of global investment dollars are pouring into companies touting robust environmental, social and governance credentials. Now short-sellers spy an opportunity.Such hedge funds, often cast as villains of the piece because they bet against share prices, scent a profit from company valuations

By Yilei Sun, Julie Zhu and Edward TaylorBEIJING/HONG KONG/FRANKFURT Daimler's (DE:DAIGn) main China joint venture partner BAIC Group has set in motion a plan to double its stake to around 10% and win a board seat in the German luxury car maker, as it aims to upstage rival Geely, two sources told .State-owned Beijing Automobile Group Co Ltd

. Participants attend the official ceremony marking the debut of Saudi Aramco's IPO on the Riyadh's stock market, in Riyadh DUBAI Saudi Aramco (SE:2222) shares were up 1% at 37.2 riyals ($9.89) in early trade on Sunday. The state-owned oil company listed 1.5% of its shares at 32 riyals on Riyadh's Tadawul exchange (TASI) on Dec 11 in the world's largest

DUBAI Saudi Aramco's (SE:2222) shares went up slightly to 37 Saudi riyals ($9.87) in a pre-market auction on Sunday, Refinitiv data showed, putting the company's market value slightly below $2 trillion.Aramco's shares closed at 36.8 riyals on Thursday after hitting earlier in the day the $2 trillion price tag long sought by Saudi Crown Price Moham

TOKYO An investigation by the Japan Post group has found some 9,000 cases of improperly sold insurance, the Yomiuri Shimbun reported on Sunday, adding the group will release the findings on Dec. 18. Japan Post Insurance Co Ltd (T:7181), a unit of Japan Post Holdings (T:6178), said in September it discovered 6,327 cases of improper sales and that

VIENNA A Swatch (S:UHR) unit that supplies parts to much of the watch market faces a possible sales ban next year by Switzerland's Competition Commission (Weka), newspaper Schweiz am Wochenende reported on Saturday.A decision on the matter is due next week, the paper said, without specifying a reason for the possible ban.Swatch reached a deal with

. China regulators approve more STAR Market fundsShanghai Securities News SHANGHAI Chinese regulators have recently approved four funds focused on China's new Nasdaq-style STAR Market, the official Shanghai Securities News reported on Saturday, as fund managers seek to capitalize on China's push to nurture home-grown tech firms.The four funds approved

. Renault offers CEO job to SEAT's Luca De Meo, says La Vanguardia MADRID French carmaker Renault (PA:RENA) has offered the chairman of Volkswagen's (DE:VOWG) SEAT brand, Luca de Meo, the job of chief executive, Spanish newspaper La Vanguardia reported on Saturday, citing anonymous sources.The report said De Meo would initially become CEO of Renault for

. Tech industry asks U.S. court to reconsider net neutrality ruling By David ShepardsonWASHINGTON Trade groups representing major technology companies and advocacy groups on Friday asked a U.S. appeals court to reconsider its October ruling that largely upheld the 2017 repeal of landmark net neutrality rules.The Federal Communications Commission in Decemb

The U.S. Justice Department is preparing to take legal action against Live Nation Entertainment (N:LYV) on allegations the concert promoter has sought to strong-arm concert venues into using its dominant Ticketmaster subsidiary, a source familiar with the planned legal action said on Friday.The department believes the concert promoter's conduct ha

SHANGHAI Chinese fintech company Ant Financial Services [ANTFIN.UL] and U.S. asset management firm The Vanguard Group have established a joint venture to provide retail investment advisory services in China, the companies said in a statement on Saturday.The announcement, which comes more than six months after the joint venture appeared in an onlin

. California governor Gavin Newsom speaks at a news conference in San Diego California Governor Gavin Newsom on Friday rejected the bankruptcy reorganization plan submitted by PG&E Corp (N:PCG), the state's largest investor-owned utility, saying the proposal fails to comply with a recently enacted state wildfire law. The decision by Newsom, transmitte

. Pedestrian walks past a Hudson's Bay company sign at the retailer's flagship Toronto store By Jessica DiNapoli and Greg Roumeliotis Saks Fifth Avenue owner Hudson's Bay Co (TO:HBC) has fallen short of securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with

Canadian financial regulator the Ontario Securities Commission said on Friday it has dismissed a request by Catalyst for a cease trade order relating to proposed take-private deal of Hudson's Bay (TO:HBC).The hearing comes after Hudson's Bay fell short of securing enough shareholder support for a C$1.9 billion ($1.4 billion)proposed take-private d

. Italian lender Popolare di Bari put into special administration By Giuseppe Fonte and Stefano Bernabei ROME The Bank of Italy placed Banca Popolare di Bari under special administration on Friday as a crisis at the cooperative lender heaped pressure on the shaky coalition government headed by Prime Minister Giuseppe Conte. The bank, which said this wee

. Logo of global biopharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage By Jan Wolfe Bristol-Myers Squibb Co (N:BMY) on Friday said it won a $752 million jury verdict against Gilead Sciences Inc (O:GILD) in a U.S. patent dispute relating to technology for treating cancer. A jury in Los Angeles awarded the

WASHINGTON A senior U.S. senator said on Friday he would block President Donald Trump's efforts to overhaul the weapons exports regime to make it easier for gun makers to sell small arms to foreign buyers.Senator Bob Menendez, the ranking Democrat on the Senate Foreign Relations Committee, said he was placing a "hold" on a notification last month

. Pedestrian walks past a Hudson's Bay company sign at the retailer's flagship Toronto store By Jessica DiNapoli and Greg Roumeliotis Saks Fifth Avenue owner Hudson's Bay Co (TO:HBC) has fallen short of securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with

By Elizabeth Dilts MarshallJPMorgan Chase & Co (N:JPM) Chief Executive Officer Jamie Dimon told employees that he's "disgusted by racism and hate in any form" after a New York Times report detailed instances of racial discrimination at some of the bank's branches."Racism has existed for too long — in our country, in our communities — and u

Morgan Stanley (N:MS) Chief Executive Officer James Gorman has no immediate plans to step down and is developing a strong second rung of leadership, the Wall Street banker told CNBC on Friday."I want to develop a team to replace me," he said, adding he had "no desire to be here when I'm 70 years old."The comments come against the backdrop of unc

. The Boeing logo is displayed on a screen, at the NYSE in New York WASHINGTON Boeing Co (N:BA) has decided not to compete as a prime contractor to replace the Pentagon's aging U.S.-based Minuteman III missile system, paving the way for Northrop Grumman Corp (N:NOC) to win a contract worth tens of billions of dollars. Friday marked the deadline to su

Bristol-Myers Squibb Co (N:BMY) won a patent infringement trial against Gilead Sciences Inc's (O:GILD) unit Kite Pharma over cancer immunotherapy Yescarta, Law reported on Friday.Gilead owes Bristol-Myers $585 million in damages plus a 27.6% running royalty on sales of CAR-T cell therapy Yescarta, the report said, quoting a federal jury