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China’s Jingye Steel asks UK for compensation for British Steel takeoverChina’s Jingye Steel is seeking compensation from the UK government over the takeover, and future nationalisation, of British Steel.Jingye Steel wants Britain to compensate it for the loss incurred through its investment in British Steel, which the UK government took operational control of in April 2025.In a statement on WeChat, the company says: double quotation mark“Jingye has recently initiated consultation procedures under the bilateral investment treaty with the UK government.” Last month’s King’s Speech included plans for a Steel Industry (Nationalisation) Bill, to safeguard the domestic production of steel.Jingye bought…

A Citibank logo is displayed on a sign at one of their branches on Nov. 7, 2025 in Encinitas, CA.Kevin Carter | Getty ImagesCitigroup outperformed the broad market as well as some other major bank stocks Wednesday after President Donald Trump lauded the bank and its CEO Jane Fraser in a social media post.At 9:30 a.m. ET, Trump praised Citigroup on Truth Social, writing: “Wow! CITI was ranked Number 1 in topping M&A Advisory Market by Value in Q1. Congratulations to Jane F and ALL of her great people. They’ve worked really hard! BIG comeback for CITI!!! President DONALD J.…

By Abhirup Roy and Kalea Hall SAN FRANCISCO, June 9 (Reuters) – General Motors is releasing a software update that allows some ‌U.S. electric-vehicle owners to pipe power back to the electric grid, ‌another example of car companies pursuing business opportunities in the energy sector. The update gives ​owners of GM’s vehicle-to-home energy system, which allows the EV to power the home during a blackout, the expanded capability of feeding electricity to the power grid. However, it remains unclear whether doing so will be popular ‌with drivers, who may ⁠also want to keep their cars charged. • Vehicle-to-home system owners…

Global Markets Enter London Session with Mixed Sentiment Financial markets entered the London trading session under the influence of stronger-than-expected U.S. employment data released last Friday. The latest Non-Farm Payrolls (NFP) report showed the U.S. economy added 172,000 jobs, significantly above market expectations of 85,000. The data reinforced expectations that the Federal Reserve may keep interest rates elevated for longer, supporting the U.S. Dollar and creating pressure across precious metals markets. Forex Market Overview : The pair remains under bearish pressure as investors continue to favor the U.S. Dollar. A sustained move below key support levels could open the door for…

Hugo Boss shares popped 6% Thursday after its biggest shareholder, Frasers Group announced a 2-billion-euro takeover offer for the German fashion company.Frasers, which has a 26% stake in Hugo Boss, said late Wednesday it is offering 38 euros per share in cash for the remainder of Hugo Boss shares, marking a total consideration of 1.978 billion euros ($2.28 billion). The offer represents a premium of around 4% to Hugo Boss’ Wednesday closing price.Hugo Boss noted that the offer had not been coordinated by the company and added that it will “thoroughly examine” the deal.Frasers said it remains supportive of Hugo’s…

A KKR logo displayed on the floor of the New York Stock Exchange on Aug. 23, 2018.Brendan McDermid | ReutersU.S.-based investment giant KKR expects the AI-driven productivity boom is only just getting started, but said it could mean growth is concentrated in just a few sectors. That’s according to the firm’s mid-year report distributed Thursday.While AI-driven productivity gains will play out in coming years, “the offset is that intensifying strategic competition will likely make economic growth more concentrated across fewer industries and, at times, more extreme than anything we have seen since the start of the second industrial revolution in…

The financial sector may be starting to look like more than a defensive hiding place. After the June 5 selloff hit technology shares hard, investors have a reason to ask whether the next leg of the market needs broader participation. The AI trade is not dead, but it is no longer the only game worth watching. When leadership gets crowded and rate expectations shift, capital often starts hunting for stocks with cleaner valuations, stronger cash generation and more direct leverage to the economy.And within the financial sector, (BAC) stands out. Shares have rallied roughly 20% over the last year, but…

Bank of Canada holds rates, sees few signs of broad-based inflation

LIV Golf CEO Scott O’Neil told CNBC Tuesday that as a funding cliff approaches, the organization has to trust Saudi Arabia’s Public Investment Fund will back the golf venture through the rest of the season as it has promised. “I can say they’ve been terrific partners so far, and you have to take an incredible organization like PIF at their word,” O’Neil said. “They’ve been very public about funding us through the season, so we are full steam ahead.” PIF is set to pull its funding from the golf league at the end of 2026 schedule, CNBC reported in late…

The risks to the Philippines’ financial sector from the Middle East conflict are real but manageable, according to a report co-published by the country’s central bank.The financial stability council – which includes the Central Bank of the Philippines (BSP) and four other regulators – published its annual report today (June 8). A section of the report, dated March 6, states that the Philippines is primarily exposed to the effects of the conflict via two channels: “Imported inflation from higher Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.To…