Spanish lender Sabadell has kicked off the process of trying to persuade retail shareholders not to back BBVA's 12.23 billion euro ($13.3 billion) hostile takeover attempt, telling them they may have until 2025 before needing to decide.
T-Mobile will buy substantially all of regional carrier United States Cellular's wireless operations in a deal valued at $4.4 billion, the telecom giant said on Tuesday.
A consortium of U.S. firm KKR and Singapore Telecommunications (SingTel) has emerged as the frontrunner to buy a minority stake worth $1 billion in one of Asia's biggest data centre providers, two sources with knowledge of the matter said.
U.S. markets are set for an upheaval on Tuesday when the settlement time for U.S. equities, corporate municipal bonds and other securities will be halved to one day, or T+1, after the adoption of a new Securities and Exchange Commission rule in February 2023.
Higher U.S. tariffs on medical gloves, syringes and face masks from China are unlikely to make U.S. producers more competitive, as other low-cost suppliers are expected to rush in to fill the gap, industry executives said.
Meme stock GameStop soared nearly 20% in premarket trading on Tuesday after the struggling videogame retailer said it had raised over $900 million from selling its shares during the market rally earlier this month.
UBS Global Research raised its year-end target for the benchmark S&P 500 index to 5,600 points on Tuesday, marking the highest forecast among major brokerages.
Futures for the S&P 500 and the Nasdaq edged higher on Tuesday after a holiday-extended weekend, as investors awaited key inflation data later in the week that could test expectations for the Federal Reserve's monetary policy path.
The move to next-day settlement for trading in U.S. securities on Tuesday will require exchange-traded funds (ETFs) and the marketmakers to juggle multiple jurisdictional requirements and capital needs, market participants said.
U.S. trading moves to a shorter settlement on Tuesday, which regulators hope will reduce risk and improve efficiency in the world's largest financial markets, but is expected to temporarily increase transaction failure for investors.
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