Category: finance
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Super Micro Shares Drop Amid AI Server Delivery Delays
Super Micro Computer (NASDAQ: SMCI) shares fell more than 9% in premarket trading Wednesday after the AI-focused server manufacturer reported quarterly revenue and profit below Wall Street expectations. The company attributed the shortfall to delivery delays caused by recent design changes. According to Super Micro, “design win upgrades” pushed approximately $1.5 billion in anticipated first-quarter
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German Auto Sector Sentiment Improves in October Amid Rising Demand
Key Highlights: BERLIN, Nov 5 (Reuters) – Sentiment in Germany’s struggling automotive industry improved significantly in October, according to a survey by the Ifo Institute, though it remained in negative territory. The Ifo business climate index for the automotive sector rose 8.4 points to -12.9, reflecting a notable rebound despite ongoing challenges from chip supply
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Ex-GWG Chair Bradley Heppner Indicted on Securities and Wire Fraud Charges
Key Highlights: WASHINGTON, Nov 4 (Reuters) – Bradley Heppner, former chairman of bankrupt financial services company GWG Holdings and founder of alternative asset firm Beneficent, has been indicted on five criminal charges, including securities fraud and wire fraud, the U.S. Department of Justice announced on Tuesday. The indictment, filed in the Southern District of New
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UK Savers Rush to Withdraw Pension Cash Ahead of Budget Amid Tax Speculation
Key Highlights: LONDON, Nov 5 (Reuters) – British savers are increasingly withdrawing cash from their pension pots ahead of this month’s budget, spurred by speculation over possible changes to tax-free pension withdrawals, according to leading wealth managers. Most UK savers can currently access up to 25% of their pension as a tax-free lump sum. Some
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Stonepeak to Launch $195 Million Infrastructure-Backed Debt Security on ASX
Key Highlights: SYDNEY, Nov 5 (Reuters) – U.S.-based investment firm Stonepeak announced plans to debut a redeemable, infrastructure-backed debt security on the Australian Securities Exchange (ASX) after securing more than A$300 million ($194.94 million) in cornerstone commitments. The Stonepeak-Plus INFRA1 Note will offer monthly interest payments tied to the one-month Bank Bill Swap (BBSW) benchmark
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Global Private Equity Funds Eye China as Investors Shift Away from U.S. Markets
Key Highlights: HONG KONG, Nov 5 – Global private equity funds are increasingly returning to China after years of limited activity, driven by lower valuations and a strategic shift away from U.S. assets, according to top fund executives. “Non-U.S. investors feel overallocated to dollar-denominated assets,” Jean Eric Salata, Chairman of EQT Asia, said at the
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RBL Bank Confirms Emirates NBD’s Open Offer Launch on December 12
India’s RBL Bank (RATB.NS) announced on Wednesday that Emirates NBD (ENBD.DU) will begin its open offer to public shareholders on December 12, with the tendering period set to close on December 26, according to a regulatory filing. The move follows Emirates NBD’s plan, unveiled last month, to acquire a 60% stake in RBL Bank for
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Motherson Sumi Wiring India’s Quarterly Profit Rises on Festive Boost and Plant Expansion
Motherson Sumi Wiring India (MSWI.NS) reported a solid increase in its second-quarter profit on Wednesday, helped by stronger festive-season demand and higher output from one of its new manufacturing facilities. The company, a key supplier of wiring harnesses to automakers such as Maruti Suzuki and Tata Motors, said its profit rose about 9% to 1.65
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Gold Surges Over 1% as Investors Turn Cautious and the Dollar Eases
Gold prices climbed more than 1% on Wednesday as investors sought safety amid growing market unease and a slight pullback in the U.S. dollar. By 08:45 GMT, spot gold had risen 1.3% to $3,981.27 per ounce, while U.S. gold futures for December delivery advanced 0.8% to $3,991.90. According to Carsten Menke, analyst at Julius Baer,
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Record Amount of Oil Stored at Sea Due to Western Sanctions, Says Gunvor CEO
ABU DHABI — Western sanctions targeting Russia and Iran have led to an unprecedented amount of oil being stored on ships, effectively preventing a global oversupply, according to Gunvor Group CEO Torbjorn Tornqvist. Speaking at the ADIPEC energy conference in Abu Dhabi on Wednesday, Tornqvist explained that restrictions imposed by the European Union, the United
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