(Reuters) – Emerson Electric said on Monday that its $265 per-share offer to acquire Aspen Technology was its “best and final” price. The announcement comes days after activist investor Elliott Management said it invested over $1.5 billion in Aspen, opposing the company’s decision to accept Emerson’s $7.2 billion tender offer. “Our break price is ~$202…
By Jonathan Stempel (Reuters) -Warren Buffett and Berkshire Hathaway extended their retreat from stocks in the third quarter, further slashing holdings in Apple and boosting cash to a record $325.2 billion. In its quarterly report on Saturday, Berkshire said it sold about 100 million, or 25%, of its Apple shares over the summer, ending with…
By Shivansh Tiwary and Medha Singh (Reuters) -Shares of U.S. steel and aluminum producers surged on Monday, while their European counterparts fell after President Donald Trump disclosed plans to impose an additional 25% tariff on import of the metals. Nucor, Steel Dynamics and Cleveland-Cliffs rose between 6% and 13%, while Century Aluminum added 15% and…
By Chris Kirkham and Abhirup Roy (Reuters) – Elon Musk told investors in late January that Tesla would roll out “autonomous ride-hailing for money” by June in Austin, Texas — a state where the company faces almost no regulation, raising questions about how much safety and legal risk Tesla is willing to take on as…
(Reuters) – Lyft said on Wednesday it will partner with Mobileye and two other companies in the robotaxi industry to bring self-driving cars onto its ridehail platform and bolster research and development in the sector. The app-based taxi platform will incorporate cars owned by third-party fleet operators, equipped with the Mobileye Drive self-driving system, as…
By Seher Dareen (Reuters) – Higher labor costs and sticky inflation could continue to weigh on gold miners’ profits going into 2025, analysts said, but soaring prices of the yellow metal should still boost free cash flow. Gold prices rose nearly 27% in 2024, the most since 2010, and have jumped to all-time highs this…
SOCHI, Russia (Reuters) – Russian President Vladimir Putin on Thursday described China as Russia’s ally and threw his weight behind Beijing’s claims over Taiwan, while stating that no countries had anything to fear from deepening Sino-Russian cooperation. The two countries have not declared a formal military alliance, but Putin and Chinese President Xi Jinping signed…
LONDON (Reuters) – U.S. President Donald Trump’s pledge to impose a universal 10% tariff on imports and 60% on Chinese goods is likely only a starting point for negotiations, ratings agency S&P Global said in a note on Thursday. Tariffs are unlikely to be imposed at those levels, but were Trump to follow though, the…
By Anna Voitenko and Dan Peleschuk BUCHA, Ukraine (Reuters) – As Russian troops approached Dniprorudne in their February 2022 invasion of Ukraine, the city’s long-term mayor Yevhen Matvieiev could have fled to safety. Instead, he stayed behind to coordinate humanitarian aid and security for its residents as Moscow’s forces occupied the southeastern Ukrainian city. Weeks later…
LONDON (Reuters) – The price of copper in the United States rocketed on Monday after U.S. President Donald Trump pushed forward his plans to slap tariffs on industrial metals. The premium of U.S. Comex copper futures over those traded on the London Metal Exchange surged to a record of $920 per metric ton by 1820…
