News Business

Oil lifts Saudi shares; other Gulf indexes fall

3 months ago Amanda T. Noriega

(Reuters) – Saudi Arabian shares surged on Monday as crude prices rose to their highest in just over a year, while the markets in the United Arab Emirates finished lower after a spike in coronavirus cases in recent weeks soured sentiment.

FILE PHOTO: Investors share a laugh as they monitor stocks at the Dubai Financial Market, June 17, 2013. REUTERS/Jumana El Heloueh

Oil prices, the most crucial catalyst for the Saudi financial market, were boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures that could boost demand. [O/R]

The oil market continues to tighten with deeper cuts from Saudi Arabia, which pledged extra reductions in February and March after cuts by other members of the Organization of the Petroleum Exporting Countries and its allies.

Saudi Arabia’s benchmark index firmed 1.4%, extending its gains to a third session and posting its best day since Dec.

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Asian chipmakers rush to boost production to meet global shortage

3 months ago Amanda T. Noriega

By Ben Blanchard, Joyce Lee

TAIPEI/SEOUL (Reuters) – Asian chipmakers are rushing to expand their production capacity to meet a global shortage that has been acutely felt by carmakers, but the firms warn that the supply gap may take many months to plug as they struggle to keep up with strong demand.

FILE PHOTO: The logo of Taiwan Semiconductor Manufacturing Co (TSMC) is pictured at its headquarters, in Hsinchu, Taiwan, January 19, 2021. REUTERS/Ann Wang

Automakers from General Motors to Stellantis and Honda Motor are shutting assembly lines due to the shortages, which in some cases have been exacerbated by the former U.S. administration’s sanctions against Chinese chip factories. Some firms have also furloughed staff.

Eight-inch chip manufacturing plants owned mostly by Asian firms, which tend to make older, less sophisticated chips, are particularly under strain primarily due to under-investment in recent years. The majority of such factories are used

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Bitcoin surges above $46,000 to record after Elon Musk’s Tesla buys $1.5 billion worth

3 months ago Amanda T. Noriega
  • Bitcoin’s price soared to an all-time high, breaking above $46,000 apiece, after Tesla revealed a big stake in the digital coin.
  • The electric car maker also said it would start accepting payments in bitcoin for its products.
  • Tesla’s stake in bitcoin “will have a ripple effect across corporations around the global,” Wedbush analyst Dan Ives said.

Tesla purchases $1.5 billion in bitcoin — Here’s what could happen next

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Bitcoin’s price jumped sharply to an all-time high after Tesla revealed a big stake in the cryptocurrency and said it would start accepting payments in the digital coin for its products.

The world’s largest cryptocurrency popped 20.33% to $46,081.64, for its best day since March, according to Coin Metrics. Following Tesla’s announcement, at one point it hit a record high of $47,458.

Bitcoin just finished a banner year with its price more than quadrupling in 2020.



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Brent oil ends above $60 a barrel for the first time in over a year

3 months ago Amanda T. Noriega




© paul ratje/Agence France-Presse/Getty Images


FUTURES MOVERS

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Brent crude prices settled above $60 a barrel for the first time in over a year on Monday, boosted by pandemic-recovery optimism and expectations for the passage of the latest U.S. economic stimulus package.

Prices also found support after President Joe Biden pushed back against immediately lifting sanctions on Iran.

“Several factors are feeding into these buoyant prices, most importantly, the current level of financial market enthusiasm” surrounding the rollout of COVID-19 vaccines, said Cailin Birch, global economist at The Economist Intelligence Unit, in emailed commentary.

“In addition, the likelihood that the Biden administration will pass a second big economic relief bill and recent robust economic activity in China have lifted investor hopes for the pace of economic recovery in 2021,” she said.

April Brent crude  the global benchmark, climbed by $1.22, or 2.1%, to settle at $60.56 a barrel after

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A New Decade’s Global Pressures And Best Responses, Part One

3 months ago Amanda T. Noriega

EVP and CTIO at Axway, responsible for accelerating global innovation and transformation.

This article is the first in a two-part series. Part one explores major pressures banks face as API-driven, open banking ecosystems emerge across global markets. Part two suggests best responses for banks as the financial sector undergoes this seismic shift.

Open banking is disruptive, global and growing at a breakneck pace. According to Allied Market Research, the open banking market is growing at 24.4%, reaching $43.15 billion by 2026 and accelerating by the pandemic but part of an inevitable control shift in the financial sector. As it grows into open finance, it is beginning to fundamentally redefine customer interaction with the financial system by revising who creates and manages financial products and services. 

This new decade will witness not a downfall of big banks in favor of light and swift fintech, but rather these

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DGAP-News: Dialog Semiconductor Plc.: Recommended cash offer for Dialog Semiconductor Plc by Renesas Electronics Corporation

3 months ago Amanda T. Noriega

DGAP-News: Dialog Semiconductor Plc.

/ Key word(s): Offer

Dialog Semiconductor Plc.: Recommended cash offer for Dialog Semiconductor Plc by Renesas Electronics Corporation (news with additional features)

08.02.2021 / 08:30
The issuer is solely responsible for the content of this announcement.

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH JURISDICTION

FOR IMMEDIATE RELEASE

8 February 2021

RECOMMENDED CASH OFFER

for

DIALOG SEMICONDUCTOR PLC

by

RENESAS ELECTRONICS CORPORATION

to be effected by means of a scheme of arrangement
under Part 26 of the Companies Act 2006

Summary

– The boards of Renesas Electronics Corporation (“Renesas“) and Dialog Semiconductor Plc (“Dialog“) are pleased to announce that they have reached agreement on the terms of arecommendedallcashoffer to be

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