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Business from the Wall Street Journal
- Read about China’s export control plans, palm oil prices and more in the latest Market Talks covering Basic Materials.
- The Wall Street Journal reported Sunday that the companies were in advanced merger talks.
- Read about Porsche SE, Rheinmetall, European defense companies and more in the latest Market Talks covering the Auto and Transport sector.
- Find insight on Galp, oil prices and more in the latest Market Talks covering Energy and Utilities.
- Find insight on Adyen, CVC Capital Partners and more in the latest Market Talks covering Financial Services.
- The moves mark the automaker’s most visible shake-up under an interim management committee headed by Chairman John Elkann.
- More than 97.5% of shareholders’ votes were in favor of plans to spin off its television business Canal+, its advertising and public relations business Havas, and create a new company known as Louis Hachette Group.
- The arms producer and drone software company have reached a deal to cooperate in creating an industry standard for controlling and operating unmanned drones, which is expected to benefit Ukraine in its war against Russia.
- The comedian, who joked about drug addiction with Donald Trump, has built a following with an edgy and freewheeling style.
- Volkswagen workers began striking for the second time this month as employee representatives and management enter a fourth round of talks over deep cost-cutting measures at the car maker.
- They finalized a cable distribution deal in which Warner locks in higher fees for its networks and resolves a legal battle over a new “Harry Potter” TV series.
- How an App Selling Secondhand Clothes Went From Near Collapse to Worth $5 Billion
WSJ.com: US Business
Popular in Europe, Vinted is disproving the conventional wisdom about the resale market. Can it eventually crack the U.S.? - Credit Agricole said it bought financial contracts that could raise its stake in Banco BPM to 15.1% at a time when the Italian bank is being targeted by larger rival UniCredit in a $10 billion-plus bid.
- Boohoo Shareholders Advised to Vote Against Frasers' Resolutions at General MeetingBoohoo said an independent adviser recommended the company’s shareholders vote against board representation for Frasers Group.
Market News from Wall Street Journal
- The Hang Seng closed down 0.5%, erasing earlier gains after a heavily traded session, and with investors awaiting further clues on China’s growth target for next year from the annual Central Economic Work Conference this week.
- The dollar traded steady ahead of U.S. inflation data on Wednesday, with ING doubting that investors will want to chase the DXY dollar index too much lower beforehand and expecting support at 105.40-60 to hold on a closing basis.
- Bund yields were little changed in early European trading and Commerzbank Research said they’re expected to stay rangebound in the coming days, awaiting U.S. CPI data and the ECB meeting.
- Spot gold was higher and Citi Research said the precious metal’s long-term upside is still intact based on the ongoing deterioration of the U.S. labor market, still-elevated interest rates weighing on growth, and higher demand for ETFs.
- Oil prices were steady in the early Asian trade. Rising geopolitical tensions in the Middle East after the Syrian government collapse has “added a little risk premium” to crude oil prices, ANZ said.
- The WSJ Dollar Index was up 0.02% to 100.40 — up for two consecutive trading days.
- U.S. stocks closed lower after China announced an antitrust probe into Nvidia. Nine of the 11 S&P 500 sectors finished in the red.
- Front-month gold futures settled up 1%, with geopolitical turmoil once again as the main catalyst for higher prices, this time coming out of Syria after Bashar al-Assad’s regime fell over the weekend.
- U.S. natural gas futures settled higher as weather forecasts turned colder for the latter part of this week, while beyond that the outlook is still mild for December.
- Gain insight on Macy’s response to activist investors, Sartorius’s new CEO and more in the latest Market Talks covering ESG Impact Investing.
- Government bond supply in the eurozone will remain at very high levels in 2025, but analysts expect ample demand from investors seeking decent yields and safe-haven assets.
- Barington is working with Thor Equities and wants the retail company to slash spending.
- Saudi Arabia’s decision to cut official oil selling prices for Asia underscores weaker demand in the continent, according to DNB Markets.
- While some retailers will pass costs on to consumers, others will take it on the chin.