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By Saqib Iqbal Ahmed NEW YORK (Reuters) – Shares of AMC Entertainment Holdings Inc have been hit by a wave of bearish options bets amid uncertainty over the company’s stock conversion plan. The one-month moving average of open puts versus call options on AMC hit 1.7-to-1 on Thursday, the most bearish the measure has been in at least four years, Trade Alert data showed. Puts convey the right to sell […]

By Sabrina Valle HOUSTON (Reuters) -Exxon Mobil Corp on Friday reported a 56% slump in second-quarter profit, joining rivals hurt by a sharp drop in energy prices but delivering results in line with an earnings preview the oil major released earlier this month. Second-quarter results from oil majors have tumbled from huge profits booked a year ago after Russia’s invasion of Ukraine sent oil and gas prices soaring. Chevron Corp, […]

By Natalie Grover LONDON (Reuters) -Oil prices were steady on Friday, but on track for a fifth straight week of gains with investors optimistic healthy demand and supply cuts will keep prices buoyant. Risk appetite in wider financial markets has been fuelled by growing expectations that central banks such as the Fed and European Central Bank are nearing the end of policy tightening campaigns, boosting the outlook for global growth […]

BERLIN (Reuters) – Germany’s Rheinmetall plans to set up a repair centre in Ukraine for Leopard tanks and other war equipment supplied by Berlin as early as late summer, the industrial group’s chief executive, Armin Papperger, told Spiegel magazine on Friday. “We are currently already training Ukrainians in Germany for this job,” said Papperger, adding that Rheinmetall wanted to begin operations of the repair centre after the summer break. Berlin […]

(Reuters) -Procter & Gamble Co beat analysts’ estimates for quarterly sales on Friday, as the consumer goods giant benefited from multiple price hikes and resilient demand for its cleaning products, paper towels and other household products. P&G’s better-than-expected results, like those of Unilever and Nestle, show that major global consumer product and food makers managed to raise their product prices enough to offset recent increases in their transportation, commodity and […]

By Jessie Pang and Justin Fung HONG KONG (Reuters) -Hong Kong’s High Court on Friday rejected a government bid to ban the protest song “Glory to Hong Kong”, saying it could undermine freedom of expression and cause potential “chilling effects”. The government’s application for an injunction came after “Glory to Hong Kong” was played mistakenly at several international sporting events, instead of China’s national anthem “March of the Volunteers”. China-ruled […]

By Shankar Ramakrishnan (Reuters) -Investor appetite for a type of debt issued mostly by banks to boost their capital is showing early signs of revival, just as interest rates on an estimated $120 billion of such securities are due to reset to much higher levels. So-called preferred securities, which are one of the riskiest forms of debt but also have some characteristics of stocks, are popular among banks as a […]

HANOI (Reuters) – A Vietnamese court on Friday jailed 54 people, including a former deputy foreign minister and several senior diplomats, in one of the country’s largest ever bribery cases amid a crackdown on graft, state media reported. The convicted were found guilty of taking part in a scheme where diplomats and companies took money from Vietnamese citizens abroad who wanted to return to the country on “rescue flights” during […]

(Reuters) – Procter & Gamble Co beat analysts’ estimates for quarterly sales on Friday, as the consumer goods giant benefited from multiple price hikes and resilient demand for its cleaning products, paper towels and other household products. The Tide detergent maker’s fourth-quarter net sales rose to $20.55 billion, from $19.52 billion a year earlier. Analysts on average had expected $19.98 billion, according to IBES data from Refinitiv. (Reporting by Ananya […]