US private equity firm Silver Lake has consolidated its position as the second-largest shareholder in Manchester City’s parent company, with the group’s Chinese investors slashing their stake to close to zero. The Silicon Valley-based firm now owns more than 18 per cent of City Football Group after buying more shares from China Media Capital, CFG … Read more
Investors hoped China would ease its stringent Covid Zero strategy once the pivotal Communist Party congress cemented President Xi Jinping’s grip on power. Instead, the opposite seems to be happening. Fresh lockdowns are being imposed from Wuhan, Covid’s original epicenter, to China’s industrial belt on the east coast. Schools and dining in at restaurants in … Read more
Russian forces fired dozens of cruise missiles at Ukraine’s power infrastructure on Saturday, triggering more electricity blackouts in the latest phase of the eight-month war. Local officials said the latest barrage of missiles fired at the country’s infrastructure was the most intense yet in a campaign that started earlier this month to deplete Ukraine’s power … Read more
SlavkoSereda/iStock via Getty Images Energy (XLE) was Wednesday’s top performing S&P sector, +0.8%, despite a third straight daily decline in U.S. crude oil futures, as the market digested a hotter than expected U.S. producer price index reading, which was seen reinforcing expectations for aggressive Federal Reserve interest rate increases. Front-month Nymex crude (CL1:COM) for November … Read more
Health authorities in New York’s Rockland County say they have seen the pace of their emergency polio vaccination effort stall in recent weeks, amid fierce opposition from anti-vaccine groups. The first U.S. polio case in over a decade was confirmed in the county in July, in a young man who wasn’t vaccinated, and health officials … Read more
Article content TORONTO — Kinross Gold Corp. has announced an enhanced share buyback program following what the company calls “constructive discussions” with activist investor Elliott Investment Management LP. Article content The Toronto-based miner says it will buy back $300 million in shares over the remainder of the year, and will allocate 75 per cent of … Read more
Inditex, the global fashion group, has accelerated its clothes manufacturing in order to stockpile inventory ahead of potential supply chain difficulties in the next six months. The owner of Zara said on Wednesday that “in the face of possible supply chain tensions”, it had temporarily increased production “in order to increase product availability without any … Read more
Breadcrumb Trail Links PMN Business Author of the article: Publishing date: Sep 11, 2022 • 42 minutes ago • 3 minute read • Join the conversation Article content NEW YORK — As the Federal Reserve accelerates the unwinding of its balance sheet this month, some investors worry that so-called quantitative tightening may weigh on the economy … Read more
Breadcrumb Trail Links PMN Business Author of the article: The Associated Press Jennifer Mcdermott Article content At a 131-year-old maritime academy along Buzzards Bay in Massachusetts, people who will build the nation’s first commercial-scale offshore wind farm are learning the skills to stay safe while working around turbines at sea. Some take to the tasks … Read more
It’s been one of the biggest mysteries of the COVID-19 pandemic: Why do some people experience at-times debilitating symptoms that linger for months after the initial infection came and went? And what can be done to help those suffering from “long COVID”? The National Institutes of Health is now hoping to launch its first big clinical … Read more