AUBURN HILLS, Mich. - BorgWarner Inc. (NYSE: NYSE:BWA), a leading automotive industry supplier, has advised its shareholders to reject an unsolicited mini-tender offer by TRC Capital Investment Corporation. The offer proposes the acquisition of up to 4 million BorgWarner common shares at $28.80 each, a 4.51% discount on the stock\'s closing price on February 20,...
On Friday, Citi analysts identified a buying opportunity in Ganfeng Lithium, a company that has been significantly impacted by the recent plunge in lithium prices. Lithium, a key component in the production of electric vehicle batteries, has seen its value drop by over 80% from its peak in 2022. This decline has affected Ganfeng Lithium\'s...
-- Australian energy giant Woodside Energy Ltd (ASX:WDS) said on Friday that it will sell a stake in its Scarborough project to JERA for $1.4 billion, and also announced more collaborations with the Japanese utility gaint. Woodside will sell a 15.1% non-operating participating interest in Scarborough to JERA, with the deal expected to close in...
(Reuters) - Fuselage maker Spirit AeroSystems (NYSE:SPR) said on Thursday it was unable to reasonably estimate the financial impact of an incident last month that led to a temporary grounding of Boeing (NYSE:BA) 737 MAX 9 planes and a production cap on the planemaker. Spirit, in a regulatory filing, flagged the impact as part of...
SAO PAULO (Reuters) -Brazilian miner Vale reported on Thursday a 35% drop in fourth quarter net profit, missing analyst expectations by almost half, following higher provisions related to its Samarco joint venture and more taxable income. Vale, one of the world\'s largest iron ore producers, reported a $2.42 billion net profit for the quarter ended...
By Aditya Soni and David Shepardson (Reuters) -AT&T said late on Thursday an outage that disrupted calls and text messages for thousands of U.S. users and prompted federal investigations was not caused by a cyberattack. The carrier had restored wireless service for all affected customers, several hours after an outage that affected more than 70,000...
The U.S. Department of Labor released new data today showing a 0.6% increase in the consumer price index (CPI) for August. This is the largest monthly rise in U.S. inflation so far this year. The report showed that prices have gone up by 3.7% compared to August of last year, slightly higher than what economic...
South Korean crypto scammers are targeting chat app users on trading- and investment-themed channels, police warned on February 21. Per News1 and Daejon Ilbo, the Sejong South Police Station announced it was investigating multiple cases. The agency said that it had “received about 20 reports” from people in the city. Citizens said they had been...
Today, the Hong Kong Monetary Authority (HKMA) issued a warning to cryptocurrency companies that improperly use the term “bank” in describing their services. The authority stated that such wording wrongly suggests these companies are regulated by the HKMA, which is not the case. According to HKMA rules, only organizations with specific licenses can operate as...
The U.S. House Financial Services Committee is currently a battleground for discussions concerning the possible launch of a Central Bank Digital Currency (CBDC) by the Federal Reserve. Today, Maxine Waters, a Democratic representative from California, sharply criticized a bill reintroduced by Republican Rep. Tom Emmer of Minnesota. The bill is looking to prevent the Federal...