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Trump’s U-turn on fuel economy rules lifts European carmakers’ shares

Dec 4 (Reuters) - Shares of European carmakers jumped between 2.5% and 5% in early Thursday trading after U.S. President Donald Trump proposed slashing fuel economy standards finalised by his predecessor Joe Biden. The Trump administration cast the change, aimed at making it easier for ...
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Philips shares fall as management tempers growth expectations

By Danilo Masoni MILAN, Dec 4 (Reuters) - Philips shares fell by their most in nearly 10 months on Thursday, down over 7% after traders flagged concerns about growth expectations and tariff headwinds following comments from the Dutch health technology company at a conference. Citi said ...
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Watches of Switzerland sees 15% surge in US sales on demand for high-end timepieces

Dec 4 (Reuters) - Luxury retailer Watches of Switzerland Group reported a 15% jump in U.S. sales for the first half of the year on Thursday, boosted by strong demand for high-end timepieces in its core market. The global luxury goods market is expected to ...
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Rio Tinto actively working with China’s Chinalco on shareholding constraints

LONDON, Dec 4 (Reuters) - Rio Tinto CEO Simon Trott said on Thursday the miner is actively working with its main shareholder, Aluminium Corporation of China Limited (Chinalco), to resolve governance constraints that restrict the company's ability to conduct share buybacks. "In terms ...
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BOJ wins first showdown with Takaichi – what’s next is less certain

(Corrects to add dropped word in paragraph 6) By Leika Kihara TOKYO, Dec 4 (Reuters) - Bank of Japan chief Kazuo Ueda used diplomacy and nodded to the dangers of inflation and a weak yen to sell his plan for a December rate hike to ...
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Hedge funds double down using near-record leverage in quest to boost returns

By Anirban Sen and Nell Mackenzie NEW YORK, Dec 3 (Reuters) - Hedge funds are using near-record levels of leverage to trade equities and betting on debt-backed strategies in efforts to juice returns, making the most of markets buoyed by a boom in artificial intelligence. Over ...
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Rio Tinto outlines plan to cut costs, raise productivity at strategy day

MELBOURNE, Dec 4 (Reuters) - Rio Tinto CEO Simon Trott outlined a plan to focus on cost cuts and productivity gains at his first strategy day on Thursday as he undertakes a divestment plan to simplify the structure of the world's largest iron ore ...
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Exxon to permanently shut one steam cracker in Singapore from March, sources say

By Trixie Yap SINGAPORE, Dec 4(Reuters) - ExxonMobil plans to wind down operations at the older of its two steam crackers on Singapore's Jurong Island from March, four sources familiar with the matter said, part of a global petrochemicals sector trend to reduce capacity amid ...
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Turkey’s energy minister warns of threat to oil and gas supplies after tankers targeted

ISTANBUL (AP) - Turkey's energy minister issued a call for the supply of oil and gas in the Black Sea to be protected after three Russian tankers were targeted off the Turkish coast. Alparslan Bayraktar said Turkey was concerned not just by the threat to ...
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US private equity exit deals set for second year of recovery, PitchBook finds

By Isla Binnie NEW YORK, Dec 4 (Reuters) - Private equity firms in the United States are on track to cash out more of their investments this year than in 2024 in a welcome recovery for dealmaking, but transactions will need further bolstering to help ...
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Morning Bid: Day off for dollar debasement trade

A look at the day ahead in European and global markets from Gregor Stuart Hunter The greenback is getting a reprieve as monetary authorities in Asia's biggest economies signal discomfort with weakness in the U.S. currency, which hit a five-week low this week. The U.S. dollar ...
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IKEA opens its furthest store from Sweden in New Zealand

Dec 4 (Reuters) - IKEA opened its first store in New Zealand on Thursday, entering its 64th market and marking the furniture retailer's most distant outpost from its native Sweden. The long-awaited 34,000 square-metre (365,973 square foot) store at the Sylvia Park shopping centre in ...
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