By Felix Light TBILISI (Reuters) – Georgia’s saviour. Russia’s stooge. Philanthropist. Oligarch. Bidzina Ivanishvili has been called all these things, and more. The billionaire, Georgia’s richest person and the founder of its ruling party, is seldom seen in public and, of late, almost exclusively behind bulletproof glass. Yet his presence looms large over this small European country caught been Russia and the West and an election that could shape its destiny. Ivanishvili can gaze down on downtown Tbilisi from a massive steel-and-glass clifftop mansion that rears about 60 metres over the capital, complete with helipad. He indulges exotic passions like…
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By Suzanne McGee(Reuters) – Investors are leaving exchange-traded funds tied to specific themes, such as artificial intelligence and video gaming, as they flock to funds linked to broad stock-market benchmarks that are hitting record highs.The run for the exits, however, may slow if the broader market stumbles.While flows in equity ETFs overall continue to climb, thematic ETFs, which invest in companies tied to everything from solar energy to robotics and millennial consumers, are on pace for their third-consecutive year of net outflows, according to financial data and analysis company Morningstar.The category, which has total assets of $108 billion, has lost…
Traders work on the floor of the New York Stock Exchange on June 01, 2023 in New York City.Spencer Platt/GettyUS stocks were mostly lower on Monday, pulling back from last week’s record highs.Investors are turning their attention to third-quarter earnings season, with 21% of S&P 500 companies set to report this week.Bank of America said that company executives are striking an optimistic tone on earnings calls.US stocks traded mostly lower on Monday, retreating from last week’s record highs.While the Nasdaq 100 rose slightly, the Dow Jones Industrial Average declined by nearly 350 points.The decline on Monday comes as third-quarter earnings…
The U.S. housing market is experiencing a severe inventory squeeze, driven by low supply and consistent demand. Despite an increase in housing prices and rising mortgage rates, buyers continue to flock to available properties, hoping to lock in a home before conditions worsen. As of August 2024, existing home sales had dropped significantly compared to previous years, mainly due to the limited number of homes available for sale. Yet, this scarcity, paired with pent-up demand, has sustained property values in most markets. In this challenging environment, real estate platforms like Zillow Group, Inc. (Z) have adapted quickly, seeking ways to…
MUMBAI, MAHARASHTRA, INDIA – Hyundai cars seen parked outside the Hyundai showroom in Mumbai.Sopa Images | Lightrocket | Getty ImagesHyundai Motor India shares fell more than 5% on their trading debut Tuesday after a $3.3 billion initial public offering, the country’s largest-ever by amount raised.Shares were trading down at 1,860 rupees from their initial public offering price of 1,960 rupees, according to BSE data.The automaker had offered 142.19 million shares at a price band of 1,865 Indian rupees ($22.18) to 1,960 rupees. The IPO fetched 278.56 billion rupees, or $3.3 billion.The company’s IPO, which opened on Oct. 15 and closed on…
(Reuters) -Hyundai Motor India’s shares fell 2% in their market debut on Tuesday, after a tepid response from retail investors to the country’s largest ever initial public offering. The stock listed at 1,934 rupees on the National Stock Exchange, compared to its issue price of 1,960 rupees, and was last trading down 2% at 1,920 rupees at 0431 GMT. Hyundai is India’s No. 2 carmaker with a 15% market share. Its record $3.3 billion IPO was oversubscribed more than two-fold last week, led largely by institutional investors, but pricing concerns deterred retail participation. Tuesday’s listing in Mumbai is Hyundai Motor…
SAN FRANCISCO – From CEO Joe Lacob to general manager Mike Dunleavy to coach Steve Kerr and his staff, most key figures within the Warriors hierarchy love what they think Jonathan Kuminga can bring to the franchise. They’d like to move beyond thinking Kuminga can be an NBA All-Star to reach a consensus in the belief that he will evolve enough to reach that status. There was, according to two NBA sources, enough uncertainty to prevent Golden State from handing Kuminga the kind of massive contract extension that would have signified he is next in line to hold the keys…
Image source: Getty Images The desire for passive income is a common goal for many people. That’s probably even more so nowadays, given the sharp rise in the UK’s cost of living. I found an old shopping bill the other day in my car boot. It was from three years ago and showed I spent £76. As an experiment, I decided to visit the same store and buy the exact same items. Unfortunately, there were a couple of things that weren’t available, so I bought similar. The bill came to nearly £120! Thankfully, inflation finally appears to be easing now…
(Reuters) – Former Hollywood producer Harvey Weinstein has chronic myeloid leukemia (CML), NBC News reported on Monday, citing sources. Weinstein is currently undergoing treatment for CML, a type of bone marrow cancer, while in prison at Rikers Island in New York to face trial on rape charges, according to the NBC report. Craig Rothfeld, Weinstein’s legal healthcare representative, declined comment when asked by Reuters on the status of his health, citing respect for Weinstein’s privacy. Weinstein, 72, has been beset with health problems, his lawyers had earlier said. He was rushed to the hospital from Rikers Island jail in September…
Microsoft (MSFT) closed the most recent trading day at $418.78, moving +0.15% from the previous trading session. This change outpaced the S&P 500’s 0.18% loss on the day. Meanwhile, the Dow lost 0.8%, and the Nasdaq, a tech-heavy index, added 0.27%.Heading into today, shares of the software maker had lost 3.93% over the past month, lagging the Computer and Technology sector’s gain of 6.6% and the S&P 500’s gain of 4.46% in that time.Market participants will be closely following the financial results of Microsoft in its upcoming release. The company plans to announce its earnings on October 30, 2024. It…