Today's Top Story
Samsung's Lee: tainted titan who built a global tech giant
SEOUL (Reuters) - In February 1993, five years after taking over from his father at South Korea's Samsung Group, 51-year-old Lee Kun-hee was frustrated that he wasn't making his mark. Read More
Business News
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Lee Kun-hee, who made South Korea's Samsung a global powerhouse, dies at 78
SEOUL (Reuters) - Lee Kun-hee, who built Samsung Electronics into a global powerhouse in smartphones, semiconductors and televisions, died on Sunday after spending more than six years in hospital following a heart attack, the company said.
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Cenovus Energy to buy Husky Energy in an all-stock deal valued at $23.6 billion
(Reuters) - Cenovus Energy Inc will buy Husky Energy Inc in an all-stock transaction valued at $23.6 billion, the companies said in a statement on Sunday.
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Exclusive: Ant may raise up to $17 billion in Shanghai IPO leg as investors submit bids, say sources
HONG KONG/SHANGHAI (Reuters) - China's Ant Group could raise up to $17.3 billion in the Shanghai leg of the likely $35 billion dual listing, the world's largest ever, after some large investors submitted bids in the range of 68-69 yuan per share, people with knowledge of the matter said.
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Economic News
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Wall Street Week Ahead: More U.S. companies offer earnings guidance despite pandemic
NEW YORK (Reuters) - With earnings season in full swing, more companies are again offering earnings guidance, signaling to investors that some corporations are adapting to uncertainty about a global pandemic that may extend deep into next year.
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Threats to U.S. Treasury market liquidity still exist, Fed says
NEW YORK (Reuters) - The U.S. Treasury market still runs the risk of abrupt freezes in liquidity like the one seen in March and April, as the COVID-19 pandemic roiled the financial system, a member of the Federal Reserve Bank of New York's Market Committee said on Friday.
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China's purchases of U.S. farm goods at 71% of target under trade deal: U.S.
WASHINGTON (Reuters) - China has substantially increased purchases of U.S. farm goods and implemented 50 of 57 technical commitments aimed at lowering structural barriers to U.S. imports since the two nations signed a trade deal in January, the U.S. government said on Friday.
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Money News
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Investors pile into options to bet on rate rise, Treasury weakness
(Reuters) - Investors have been buying options on eurodollar futures and interest rate swaps to bet on higher rates and falling U.S. Treasury debt prices if lawmakers pass more fiscal stimulus after next monthâs presidential election, if not before.
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Analysis: Green is the color of money for funds betting on a Biden win
NEW YORK (Reuters) - Fund managers betting that green-type stocks with environmental, social and governance (ESG) credentials will benefit from an expected win by Democrat Joe Biden in the U.S. presidential election are also looking at a swathe of other companies expected to rise along with them.
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U.S. banks sweat regulatory exposure from pandemic loans
BOSTON/NEW YORK/WASHINGTON (Reuters) - Banks that facilitated the U.S. government's Paycheck Protection Program at first saw the effort as a small revenue booster with a patriotic bonus, shepherding $525 billion in loans to businesses slammed by the fallout of the COVID-19 pandemic.
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