By Pritam Biswas and Echo Wang (Reuters) -Shares of financial software maker OneStream, backed by private equity firm KKR, rose nearly 30% in their Nasdaq debut on Wednesday, valuing the company at nearly $6 billion. Investors have shown optimism for new listings in 2024 on hopes of a soft landing for the economy, after two…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – Traders in the options market expect Tesla shares to swing by nearly 10% in either direction by Friday, options data showed. That is roughly in line with the stock’s average move of about 10.1% after the company’s last eight quarterly earnings reports, according to Trade Alert data….
NEW YORK (Reuters) – Warren Buffett’s Berkshire Hathaway reduced its stake in BYD to below 5%, in what could be the final time Berkshire discloses stock sales in China’s largest producer of electric vehicles. Berkshire lowered its stake in BYD’s issued H-shares to 4.94% from 5.06% on July 16, according to a Monday filing with…
By Yantoultra Ngui and Florence Tan SINGAPORE (Reuters) – Exxon Mobil Corp has agreed to sell its Malaysian oil and gas assets to state energy firm Petronas, exiting the country’s upstream sector where it used to be a dominant producer, two sources with direct knowledge of the matter said. The U.S. major, which last year…
By Allison Lampert (Reuters) – Boeing expects delayed suppliers to catch up on parts that have slowed production of its 787 jets to below a rate of five a month, as the U.S. planemaker works to restore output of two key commercial programs by the year’s end. Boeing and its European rival Airbus are struggling…
By David Shepardson (Reuters) -Chrysler parent Stellantis paid $190.7 million in civil penalties for failing to meet U.S. fuel economy requirements for 2019 and 2020, and owes another $459.7 million in outstanding penalties, government documents seen by Reuters show. The penalties, paid in March and May, were disclosed by the National Highway Traffic Safety Administration…
By Jonathan Stempel (Reuters) – Oracle agreed to pay $115 million to settle a lawsuit accusing the database software and cloud computing company of invading people’s privacy by collecting their personal information and selling it to third parties. A preliminary settlement of the proposed class action was filed on Thursday night in San Francisco federal…
By Pete Schroeder WASHINGTON (Reuters) – The U.S. Federal Reserve announced on Friday it had fined Utah-based Green Dot $44 million for numerous “unfair and deceptive” practices, as well as deficient risk management. The central bank said in a statement the firm, which issues prepaid debit cards, violated consumer law in marketing those products, as…
By Milana Vinn and Anirban Sen (Reuters) – Smartsheet, a U.S. maker of workplace collaboration software with a market value of $6.3 billion, has tapped investment bankers after attracting acquisition interest from buyout firms, according to people familiar with the matter. The Bellevue, Washington-based company is working with Qatalyst Partners to review approaches from private…
By Amy-Jo Crowley and Oliver Hirt LONDON (Reuters) – Apax Partners, Bain Capital and CVC are each exploring potential bids for SoftwareOne, two people with knowledge of the situation said, three months after the ouster of the Swiss software company’s board. Talks with interested funds are ongoing, one of the people said. Four sources mentioned…
