TOPCMB

Germany girds for gas supply pain, targets $93 billion price relief plan

Proposals agreed unanimously after 35 hours of talks Total proposed relief 96 bln euros thru April 2024 Plan aims to ease cost of living BERLIN, Oct 10 (Reuters) – Germany on Monday said it plans to urgently implement a 96 billion euro ($93 billion) plan to ease pressure on consumers from surging gas prices as …

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Renault and Nissan in talks that could reshape autos alliance

Renault stock best performer on French CAC-40 index Talks expected to continue before investor presentation PARIS/TOKYO, Oct 10 (Reuters) – Renault (RENA.PA) and Nissan (7201.T) said on Monday they were in talks about the future of their alliance, including the Japanese automaker considering investing in a new electric vehicle venture by its French partner. The …

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Exxon Mobil in talks to buy oil & gas producer Denbury -Bloomberg News

Oct 10 (Reuters) – Exxon Mobil Corp (XOM.N) is considering a takeover of oil and gas producer Denbury Inc (DEN.N) and the talks are at a preliminary stage, Bloomberg News reported on Monday, citing people familiar with the matter. Shares of Plano, Texas-based energy company Denbury jumped as much as 12% earlier on Monday, before …

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Nasdaq registers lowest close since July 2020; chips stocks fall

Philadelphia SE Semiconductor index slumps Tech, energy lead S&P sector declines Indexes: Dow down 0.3%, S&P 500 down 0.8%, Nasdaq down 1% NEW YORK, Oct 10 (Reuters) – US stocks fell on Monday, with the Nasdaq posting its lowest close since July 2020, as investors worried about the impact of higher interest rates and pulled …

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Rivian shares skid after EV maker recalls nearly all vehicles

Oct 10 (Reuters) – Shares of Rivian Automotive Inc (RIVN.O) fell about 9% on Monday after the electric-vehicle maker recalled nearly all its vehicles, exacerbating investor concerns that the company may not be able to meet its 2023 production target . The Amazon.com Inc-backed (AMZN.O) firm on Friday recalled about 13,000 vehicles due to a …

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BoE doubles potential bond buy-backs as emergency plan nears end

LONDON, Oct 10 (Reuters) – The Bank of England sought to ease concerns about this week’s expiry of its program designed to calm turmoil in the government bond market, announcing new safety-net measures including a doubling of the maximum size of its debt buy -backs. Finance minister Kwasi Kwarteng last month sparked a bond rout …

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Stocks ease as Ukraine attacks and rate outlook spark flight to havens

MSCI global index drops for a fourth day Russian bombings across Ukraine fuel nervousness Markets braced for high core US CPI, earnings season LONDON, Oct 10 (Reuters) – Global shares dropped on Monday after Russian missiles pounded cities across Ukraine and as renewed concern about the economic outlook sent investors into safe-haven assets such as …

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Oil falls as China demand concerns fuel recession fears

Brent, WTI fall $1 from 5-week highs OPEC+ decision on big supply curbs boosted prices Chinese services sector contracts for first time in months LONDON, Oct 10 (Reuters) – Oil prices fell on Monday, ending five straight days of gains, as investors looked to slowing economic activity in China, the world’s biggest crude importer, which …

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Chinese tech shares tumble after US publishes new export rules

SHANGHAI, Oct 10 (Reuters) – Shares in Chinese tech giants Alibaba Group (9988.HK) and Tencent (0700.HK) as well as in chipmakers slumped on Monday, following the latest US crackdown on China’s chipmaking industry to slow Beijing’s technological and military advances. The Biden administration published a sweeping set of export controls on Friday, including a measure …

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