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Russian President Vladimir Putin speaks during a plenary session of the Valdai Club on Nov. 7, 2024 in Moscow, Russia. Contributor | Getty Images News | Getty ImagesGlobal stocks fell and investors fled to safe-haven assets on Tuesday, as global markets reacted to escalating tensions between the world's two largest nuclear powers: Russia and the U.S. The pan-European Stoxx 600 stock index was down almost 1% at 12:23 p.m. London time, hitting 498.56 points — its lowest level since August. The declines come after Russian President Vladimir Putin amended Russia's nuclear doctrine that outlines the conditions that would prompt Moscow to deploy its nuclear arsenal, Russian state news agency Tass reported Tuesday. In currency markets, the Japanese yen rose 0.7% and 0.36% against the euro and U.S. dollar respectively at 12:26 a.m. London time.

Persons: Vladimir Putin, Dmitry Peskov, USDJPY, Wells, Erik Nelson, Putin, Tiffany McGhee, CNBC's, Ice Brent Organizations: Valdai, Getty, U.S, Dow Jones, Nasdaq, Russian Federation, NBC News, Swiss, CNBC, U.S ., NATO, White, Kremlin, Russian Defense Ministry, Kyiv, NBC, Ukrainian, Staff of, Armed Forces, Ice Locations: Moscow, Russia, London, U.S, Republic of Belarus, Russian, Ukraine, Kyiv, Soviet, Bryansk, America

☆ Alibaba shares rise 5% in premarket after Chinese tech giant posts 58% jump in profit
▼ + stars: | 2024-11-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Alibaba said net income rose 58% year-on-year to 43.9 billion Chinese yuan ($6.07 billion) in the company's quarter ending Sept. 30, on the back of the performance of its equity investments. This compared with a LSEG outlook of 25.83 billion yuan. Revenue, meanwhile, came in at 236.5 billion yuan, 5% higher year-on-year but below an analyst forecast of 238.9 billion yuan, according to LSEG data. Investors are closely watching the performance of Alibaba's main business units, Taobao and Tmall Group, which reported a 1% annual uptick in revenue to 98.99 billion yuan in the September quarter. The e-commerce giant's overseas online shopping businesses, such as Lazada and Aliexpress, meanwhile posted a 29% year-on-year hike in sales to 31.67 billion yuan.

Persons: Alibaba, — Organizations: Tmall, ING Locations: York, London, Beijing

☆ This 145-year-old British engineering firm is set to benefit from an onshoring and automation trend — with analysts giving the stock 60% upside
▼ + stars: | 2024-11-14 | by ( Ganesh Rao | ) www.cnbc.com time to read: +3 min

A 145-year-old British industrial company is positioned to capitalize on major trends, including the reshoring of manufacturing and increased defense spending, according to analysts at Shore Capital. London-listed Renold plc , which traces its roots to 1879 and Hans Renold , the inventor of roller chains, is the world's second-largest industrial chain manufacturer. Shore Capital has a "buy" rating and a target price of 90 pence per share, which points to more than 60% upside from the current share price of 55 pence. U.K. shares are generally priced in pence, with 100 pence equal to one British pound ($1.27). In September, Renold acquired MAC Chain Company for $31.4 million, expanding its presence in the United States and Canada even further.

Persons: Hans Renold, Donald Trump, Akhil Patel, Renold, Robert Purcell Organizations: Shore Capital ., Renold, Shore Capital, Shore, MAC Chain Company, The Shore Capital Locations: Shore Capital . London, Manchester, U.S, China, United States, United Kingdom, Australia, Canada

☆ India’s central bank chief warns growing risk of global inflation returning
▼ + stars: | 2024-11-14 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

Shaktikanta Das, governor of the Reserve Bank of India (RBI), during an event at the Peterson Institute of Economics (PIIE) during the annual meetings of the International Monetary Fund (IMF) and World Bank in Washington, DC, US, on Friday, Oct. 25, 2024. Central banks have managed to engineer a soft landing through a period of "continual and unprecedented shocks," but there is still a risk of global inflation returning and of economic growth slowing down, according to India's central bank chief. Speaking Thursday in Mumbai, India, at CNBC-TV18's Global Leadership Summit, Reserve Bank of India (RBI) Governor Shaktikanta Das said monetary policy from global central banks had largely "performed well" in recent years despite conflicts, geopolitical tensions and higher volatility. "A soft landing has been ensured but risks of inflation — as I speak to you here today — risks of inflation coming back and growth slowing down do remain," Das said. Das pointed to several contradictions in global markets to underline his view, including the appreciation of the U.S. dollar, even as the Federal Reserve is cutting interest rates.

Persons: Shaktikanta Das, Das Organizations: Reserve Bank of India, Peterson Institute of Economics, International Monetary Fund, Bank, CNBC, Leadership, U.S ., Federal Reserve, U.S Locations: Washington , DC, Central, Mumbai, India, London

☆ Britain loves its 'special relationship' with the U.S. — but that doesn't mean Trump will love it back
▼ + stars: | 2024-11-07 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +6 min

London feels those long-standing bonds and geopolitical interests make its relationship with the U.S., well, special. Not so special anymoreDescribing the "special relationship" as one of convenience for the U.S., Pickering said the U.K. could still maneuver itself to be useful to an incoming Trump government. Whisper it, but the "special relationship" ceased to be special long ago, according to Holger Schmieding, chief economist at Berenberg. "That Trump and Starmer are apparently not fans of each other, to put it mildly, will not help in future U.S.-U.K. talks. Britain's Queen Elizabeth II greets U.S. President Donald Trump as he arrives for the Ceremonial Welcome at Buckingham Palace, in London, Britain June 3, 2019.

Persons: Donald Trump, Jeff J Mitchell, Keir Starmer, Trump, David Lammy, Starmer, Harris, Joe Biden, Kevin Lamarque, Badenoch, Lammy, Kallum Pickering, Peel Hunt, We're, we'll, Pickering, Holger Schmieding, Schmieding, Britain's Queen Elizabeth II, Victoria Jones Organizations: Getty, U.S, London, Britain's, Republican, Trump Tower, Trump, Atlantic, Labour Party, White, Reuters, Conservative Party, Republicans, Labour, European Union, China, Peel, CNBC, NATO Locations: London, New York, Washington, Europe, China, EU, U.S, America, Buckingham, Britain

☆ Surge in UK borrowing costs is not a repeat of the 'mini-budget' crisis, economists say
▼ + stars: | 2024-11-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +4 min

Loading chart...LONDON — U.K. borrowing costs posted two days of gains right after the Labour government unveiled a huge package of borrowing and tax rises in its Wednesday budget — but analysts downplayed the possibility of a second "mini-budget" crisis in the British bond market. The 10-year gilt yield , representing medium-term borrowing costs for the government, was slightly lower on the day at 11:20 a.m. London time. Yields move inversely to prices, so higher yields represent a sell-off in bonds — and an aversion to funding U.K. debt. The incident sent bond yields soaring so rapidly, they threatened to destabilize pension funds. Loading chart..."The market is right to be concerned" about the U.K. fiscal outlook, Mohit Kumar, chief financial economist for Europe at Jefferies, told CNBC.

Persons: Rachel Reeves, Reeves, Liz Truss, BOE, Susannah Streeter, Hargreaves Lansdown, It's, Streeter, CNBC's, Sterling, Mohit Kumar, We've Organizations: LONDON, Labour, Wednesday, Bank of England, Deutsche Bank, Hargreaves, U.S ., Jefferies, CNBC Locations: London

☆ European markets expected to open lower ahead of euro zone inflation data
▼ + stars: | 2024-10-31 | by ( Holly Ellyatt | ) www.cnbc.com time to read: +1 min

Traders sit in front of trading screens at ETX Capital in central London on January 3, 2017. LONDON — European markets were heading for a lower open Thursday as investors look ahead to the latest euro zone inflation data. The preliminary reading for October will be closely watched as it will inform the European Central Bank as to the trajectory of expected interest rate cuts. Flash economic data published Wednesday showed that the euro zone economy grew 0.4% in the third quarter of 2024, above the 0.2% rise expected by economists polled by Reuters. There are more earnings Thursday with Shell , Stellantis , Maersk , AB Inbev and Carlsberg reporting.

Persons: Rachel Reeves Organizations: London's FTSE, European Central Bank, Reuters, Shell, Maersk, AB Inbev, Carlsberg, Labour Locations: London, London's

European markets were higher as trading began on Monday as investors reviewed the geopolitical situation in the Middle East. The pan-European Stoxx 600 was up 0.13% at 9:31 a.m. London time after paring back some of its earlier gains, with most regional bourses and sectors starting the week in positive territory. Media and construction and materials stocks added over 1% each, while oil and gas stocks fell around 2.3%.

Organizations: Media Locations: London

☆ Why these Republicans think voting against Trump could save the GOP
▼ + stars: | 2024-10-26 | by ( John King | ) edition.cnn.com time to read: +11 min

A Nikki Haley voter in the April GOP primary who will be a Kamala Harris voter a week from Tuesday. “If Trump loses, then I think Republicans will start coming back to what they were,” Pesce said. But London is voting for Harris – the first time she will vote Democrat for president. As she ponders hers, she shares this: “I think Trump is going to win.” That, she said, is based on betting lines, not the polls. “They think at the 11th hour people will have such reservations about Trump that it will cause them to vote for Harris.

Persons: Pennsylvania CNN — Michael Pesce, Pesce, ” Pesce, “, Nikki Haley, Kamala Harris, Donald Trump, Harris, Trump, I’m, Michael Pesce, Haley, Joe Biden, ”, Joan London, Harris –, John King, Biden, Pat Toomey, ‘, Hillary Clinton, Harris Cynthia Sabatini, Sabatini, “ Trump, ” Sabatini, ” Cynthia Sabatini meditates, CNN Sabatini, Harris aren’t, meditates Organizations: Pennsylvania CNN, Coast Guard, Reagan Republican, White, CNN, Republicans, South, Democratic, Trump, Republican, GOP, Biden, Media, Pennsylvania Locations: Tripoli, Pennsylvania, New Tripoli , Pennsylvania, Philadelphia, South Carolina, New Tripoli, Lehigh County, Bucks County, Berks, battlegrounds . Berks, London, Philly, Montgomery County, Wyomissing, Wyomissing , Pennsylvania, Ukraine, ”, …, Berks County, Delaware County, Media , Pennsylvania, “, Trump

☆ Dutch government to reduce its stake in ABN Amro by a quarter
▼ + stars: | 2024-10-15 | by ( April Roach | ) www.cnbc.com time to read: +1 min

The Dutch government on Tuesday said it will reduce its stake in lender ABN Amro by a quarter to 30% through a trading plan. Shares of the Dutch bank traded 1.2% lower at the market open and was last down 0.6% as of 9:15 a.m. London time. The Dutch government, which currently holds a 40.5% interest in ABN Amro, announced via its investment vehicle firm NLFI that it will sell shares using a pre-arranged trading plan set to be executed by Barclays Bank Ireland. ABN Amro was bailed out by the state during the 2008 financial crisis and later privatized in 2015. The U.K. and German administrations have both made moves this year to reduce their respective shareholdings in NatWest and Commerzbank.

Persons: UniCredit, Commerzbank Organizations: ABN Amro, Barclays Bank Ireland, NatWest, Commerzbank Locations: London, Europe

☆ Ericsson shares jump 7% on third-quarter beat, growth in North America sales
▼ + stars: | 2024-10-15 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +3 min

Shares of Swedish telecom firm Ericsson jumped amid third-quarter core earnings that surpassed analyst expectations and growth in North American demand. Net sales shed 4% year-on-year to 61.8 billion Swedish crowns in the third quarter, but nevertheless surpassed analyst expectations of near 61.6 billion, according to Reuters estimates. North America emerged as a bright spot in the sales picture, with year-on-year growth of more than 50%. "North America was the first to roll out 5G, and of course they were also the first to therefore slow down the pace. The North American growth offset steep third-quarter sales declines in both north east and south east Asia, where telecommunication companies have recently been focusing on developing markets such as India.

Persons: Börje Ekholm, CNBC's, Ekholm Organizations: Ericsson, Reuters, Nokia, AT, 5G, UBS Locations: North, London, America, U.S, ORAN, Asia, India, China, Sweden

☆ Bayer shares down 7% after U.S. court says it will review Monsanto case
▼ + stars: | 2024-10-09 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Logo and flags of Bayer AG are pictured outside a plant of the German pharmaceutical and chemical maker in Wuppertal, Germany. Shares of German life sciences company Bayer fell nearly 7% on Wednesday, after a U.S. court said it would review a case alleging that exposure to products of the company's Monsanto unit harmed individuals. Previously, an appeals court had overturned a $185 million award in the trial after finding flaws in the case in May, according to Reuters. Shares had tumbled more than 30% last year amid challenges including ongoing litigation over the Monsanto unit and high net debt. Bayer argues the claims relate to industrial materials which Monsanto voluntarily ended manufacture of in 1977.

Persons: Bayer Organizations: Bayer AG, Monsanto, Washington Supreme, Sky Valley Education Center, Reuters, Bayer, Appeals, U.S, Circuit Locations: Wuppertal, Germany, Washington, London, U.S, Philadelphia

☆ Maersk slumps 7% as the end of U.S. port strikes weighs on European shipping stocks
▼ + stars: | 2024-10-04 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An aerial view of the Dundalk Marine Terminal October 03, 2024 in Baltimore, Maryland. Shares of Moller-Maersk slumped more than 8% on the Friday market open as European shipping companies fell on the conclusion of a U.S. port strike. A prolonged strike would have provided a boost for European shippers to take a larger share of global supply chain demands. Maersk shares pared losses slightly to trade down 7.05% by 9:05 a.m. London time. Thursday's deal ended a strike that had choked U.S. East Coast and Gulf Coast ports since the start of the week and threatened U.S. supply of fruits, pharmaceuticals and automobiles, among other goods.

Persons: Germany's Hapag Lloyd, Nagel Organizations: Dundalk Marine, Moller, Maersk, U.S, dockworkers, United States Maritime Alliance, International Longshoremen's Association Locations: Dundalk, Baltimore , Maryland, U.S, London, Swiss, East Coast, Gulf Coast

☆ Ubisoft shares skyrocket 30% after report Tencent, Guillemot family considering buyout
▼ + stars: | 2024-10-04 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

The Ubisoft logo displayed during the Brand Licensing Europe at ExCel London on September 24, 2024. Shares of French video game publisher Ubisoft surged over 30% on Friday after a media report that Tencent and the firm's founding Guillemot family are considering a potential buyout of the company. Bloomberg News reported Friday that Tencent and the Guillemot family, which are both minority shareholders of Ubisoft, are considering a buyout among other options after the company lost more than half its market value this year. Shares of Ubisoft were last trading around 30% as of 3:20 p.m. London time. Please refresh for updates.

Organizations: ExCel London, Ubisoft, Bloomberg Locations: London

☆ Abu Dhabi's ADNOC to acquire German chemicals firm Covestro for $16.4 billion
▼ + stars: | 2024-10-01 | by ( April Roach | ) www.cnbc.com time to read: +2 min

Abu Dhabi's state-owned oil firm ADNOC on Tuesday said it has agreed to buy German chemicals firm Covestro for 14.7 billion euros ($16.4 billion). The deal represents an enterprise value of 14.7 billion euros, ADNOC said in a separate statement. "As a global leader and industrial pioneer in chemicals, Covestro brings unmatched expertise in high-tech specialty chemicals and materials, using advanced technologies including AI," said Sultan Ahmed al-Jaber, group CEO and managing director of ADNOC. As part of the deal, ADNOC also signed an investment agreement in which it pledged to provide additional funding by buying 1.17 billion euros worth of new shares of Covestro from a capital increase. Earlier this year the UAE oil giant closed a deal acquiring a 24.9% stake in Austrian chemicals firm OMV.

Persons: Abu Dhabi's, Covestro, ADNOC, Sultan Ahmed al, Jaber, Fertiglobe, Jefferies Organizations: Abu, Abu Dhabi National Oil Company, Bayer Locations: Leverkusen, Germany, ADNOC, Abu Dhabi, London, UAE, Fertiglobe

☆ Israeli forces launch ground offensive in Lebanon as markets fear escalation
▼ + stars: | 2024-10-01 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +5 min

NEBATIEH, LEBANON - SEPTEMBER 28: Smoke rises after Israeli attacks over Shebaa town of Nabatieh province on September 28, 2024. The Israeli air and artillery forces are supporting the offensive, the IDF said. Hezbollah said that claims that Israel had entered Lebanon are "false," reporting no "direct ground clashes," according to a Google-translated statement. Historically sensitive to geopolitical tremors, oil prices have resisted long-term spikes, reined in by the specter of waning global demand and potential supply increases. On its own, this escalation would point to higher oil prices and inflation.

Persons: Ramiz Dallah, Jalaa Marey, Hassan Nasrallah, Yoav Gallant, Lloyd Austin, Israel, Amir Yaron, specter Organizations: Getty Images, Anadolu, Getty, Israel, Israel's Defense Forces, White House, NBC, Brent, Afp, Jewish, Palestinian, Hamas, Israeli, U.S, United Nations, Reuters, Capital, Gulf Cooperation Council Locations: NEBATIEH, LEBANON, Shebaa, Nabatieh, Anadolu, Iran, Lebanon, Israel, London, Galilee, Gaza, Lebanese, Beirut's, U.S, Saudi Arabia

☆ Rupert Murdoch’s property group REA ends chase to buy Rightmove after multiple rejected offers
▼ + stars: | 2024-09-30 | by ( April Roach | ) www.cnbc.com time to read: +2 min

LONDON — Rupert Murdoch's Australian property firm REA Group said Monday it would no longer seek to buy the U.K.'s Rightmove after the property portal rejected a fourth takeover proposal. "We were disappointed with the limited engagement from Rightmove that impeded our ability to make a firm offer within the timetable available. Rightmove, meanwhile, said Monday in a separate statement that its board unanimously rejected REA Group's fourth offer proposal on the grounds that it "materially undervalued Rightmove and its future prospects." REA Group, in which News Corp owns a more than 61% interest, operates a number of property websites in Australia, as well as several brands in India and the U.S. The company sold its real estate site PropertyFinder Group to Rightmove rival Zoopla in 2009, during the Global Financial Crisis.

Persons: Rupert, REA, Owen Wilson, Rightmove, REA Group's, It's, Andrew Fisher, Zoopla, Karen Gilchrest Organizations: Rightmove, REA, Murdoch's News Corp, Reuters, REA Group, News Corp, U.S Locations: London, Rightmove, Melbourne, Australia, India

☆ French inflation cools more than expected in September as energy prices, transport costs decline
▼ + stars: | 2024-09-27 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +1 min

France's harmonized inflation rate fell sharply in September, preliminary data from the National Institute of Statistics and Economic Studies (Insee) showed Friday. Harmonized consumer prices in the euro zone's second-largest economy came in at 1.5% in September, down from 2.2% in August. The Harmonized Index of Consumer Prices (HICP) is adjusted for comparison with other euro zone countries. Altogether, Insee said that the September drop in consumer prices represents the sharpest monthly fall since 1990. Tobacco prices were expected to be virtually unchanged in September, compared to the previous month, Insee said.

Organizations: Eiffel, Paris, National Institute of Statistics, Economic Studies, Consumer, Reuters, European Central Bank, ECB, France's, Index, Olympic, Paralympic Games Locations: Paris, London

☆ H&M shares fall as much as 8% on profit miss and scrapped earnings margin target
▼ + stars: | 2024-09-26 | by ( Sam Meredith | In Samuelmeredith | ) www.cnbc.com time to read: +2 min

The logo of Swedish clothing retailer H&M hangs over one of its stores on March 28, 2018 in Berlin, Germany. Shares of H&M tumbled as much as 8% on Thursday after the world's second-largest listed fashion retailer posted a miss on operating profit and abandoned its earnings margin target. The Swedish clothing retailer reported that operating profit for the group's fiscal third quarter came in at 3.51 billion Swedish crowns ($345.8 million), which compared to 4.74 billion Swedish crowns a year ago. H&M dropped its earnings margin target for 2024 after warning of more challenging conditions earlier in the year. At present we estimate that this year's operating margin will be lower than 10 percent," H&M's Ervér said in a written statement.

Persons: LSEG, Daniel Ervér, Helena Helmersson, Ervér, Inditex, M's Ervér, M Organizations: Reuters, UBS Locations: Berlin, Germany, Swedish, Zara, London, Stockholm

☆ Thinking about sending your kid abroad for college? Here are 6 tips from college advisors and students for a successful move.
▼ + stars: | 2024-09-24 | by ( Erin Liam | ) www.businessinsider.com time to read: +7 min

Read previewIf you've considered sending your kid abroad for college, you're not alone. Amid soaring tuition fees and a desire to carve out niche college experiences, college advisors Business Insider spoke to have observed that more students and their parents are looking into opportunities to move abroad for college. For example, students can ask themselves if they would prefer living in a college town or a city college. London, for example, is great for students interested in finance, while Stockholm is ideal for students interested in the tech industry, he added. Recognize that other parts of the world operate differentlyWhen applying for college abroad, it's key to take note of the different requirements for your application.

Persons: —, Greg Kaplan, Kaplan, Robert Harry, Harry, It's, Sharon Butler, Butler, Amanda Mrozek, wasn't, Scarlett Kiaras Organizations: Service, Kaplan Educational Group, Colleges, Business, Kent School Locations: London, Stockholm, Europe, Connecticut, America, Flywire, Michigan, Cologne, Germany, Kentucky, Scotland

☆ UniCredit boosts its stake in Commerzbank, applies to own up to 29.9% of the German bank
▼ + stars: | 2024-09-23 | by ( April Roach | ) www.cnbc.com time to read: +2 min

UniCredit announced on Monday it had increased its stake in German lender Commerzbank to around 21% and submitted a request to boost the holding to up to 29.9%. The Italian bank acquired the additional Commerzbank shares through financial instruments, it said in a Monday statement. Earlier this month, UniCredit announced it had taken a 9% stake in Commerzbank, confirming that half of this shareholding was acquired from the German government. However, as was the case for UniCredit, such potential requires action for it to be crystalized," the bank said on Monday. Commerzbank shares were down 0.4% by 11:50 a.m. London time, while UniCredit shares fell 2.3%.

Persons: UniCredit, Commerzbank, Berlin Organizations: Federal Locations: Frankfurt, Germany, Commerzbank, London

☆ Europe automaker shares slump after Mercedes becomes latest to cut 2024 guidance
▼ + stars: | 2024-09-20 | by ( Karen Gilchrist | ) www.cnbc.com time to read: +1 min

An employee does final inspections on a Mercedes-Benz C-Class at the Mercedes-Benz US International factory in Vance, Alabama. Mercedes shares fell more than 8% Friday after becoming the latest carmaker to cut its guidance this year as sluggish demand in China and trade disputes weigh on the sector. Shares pared losses slightly to trade 6.9% lower as of 9:40 a.m. London time. "This affected the overall sales volume in China including sales in the Top-End segment. Overall, the sales mix in the second half of 2024 is expected to remain unchanged versus the first half, and therefore weaker than originally expected," the company said.

Persons: Mercedes Organizations: Benz, Mercedes, Benz US International, Volvo, BMW, Continental Locations: Vance , Alabama, China, London

☆ An aggressive Fed move is unlikely to spur a surprise Bank of England rate cut
▼ + stars: | 2024-09-18 | by ( Jenni Reid | ) www.cnbc.com time to read: +3 min

Commuters outside the Bank of England (BOE) in the City of London, UK, on Monday, Sept. 16, 2024. The central bank's Monetary Policy Committee's interest rate decision is scheduled for release on Sept. 19. Either way, this would be Fed's first rate cut in the current cycle. Meanwhile, money market pricing for a BOE cut at Thursday's September meeting dipped from 35% late Tuesday to 26% Wednesday morning, still slightly higher than it was last week. The move came after U.K. inflation came in at 2.2% for August, steady on July and in-line with expectations — thus backing the need for a little more caution in Threadneedle Street.

Persons: BOE, —, Sanjay Raja, Raja, George Lazarias, Mazars, they're, Lazarias Organizations: Bank of England, City of, Bloomberg, Getty, Federal Reserve, CNBC, Deutsche Bank, Monetary, MPC Locations: City, City of London, China

A grueling manhunt for the suspect wanted in a highway shooting spree stretched into its fifth day as authorities said they believe he retreated deep into a forested swath of southeastern Kentucky with no indication he has fled elsewhere. “There’s so many people that have eyes on this investigation around the world that now we should have gotten a pretty good tip that he exited the woods,” Pennington told reporters 72 hours into the operation. Amid the search, authorities went to his home in Woodbine, about 23 miles from the shooting site, to collect evidence. The search by foot remains daunting, Pennington said, as temperatures have stayed above 80 degrees during the day. “I hope he doesn’t have water, and I hope he doesn’t have food," Pennington said at a news conference Tuesday.

Persons: Joseph A ., Couch, Scottie Pennington, “, ”, “ I’m, ” Couch, Gilbert Acciardo, ” Acciardo, Daniel Boone, ” Pennington, London Mayor Randall Weddle, Pennington Organizations: Army, Kentucky State Police, Toyota, . Forest Service, Daniel Boone National, Target Firearms, NBC, Army Reserve, London Mayor, NBC News Locations: Kentucky, Laurel County, London, Laurel, Daniel Boone National Forest, Woodbine

☆ Commerzbank shares jump 17% after UniCredit buys 4.5% stake from the German government
▼ + stars: | 2024-09-11 | by ( Ruxandra Iordache | ) www.cnbc.com time to read: +2 min

Commerzbank shares jumped on market open on Wednesday, after Italian bank UniCredit acquired a 4.5% stake in the Frankfurt-based lender from the German government. Commerzbank stock was up 17.5% at 9:37 a.m. London time. The stake acquisition marks the first step in Berlin's exit from its position in the German lender. The German government said it had sold around 53.1 million shares — or a roughly 4.49% tranche out of its 16.49% total shareholding — in Commerzbank for roughly 702 million euros ($775 million) to UniCredit. Also on Wednesday, the German lender said Commerzbank chief Manfred Knof will fulfil but not seek to renew his term after the end of his contract in December 2025.

Persons: Commerzbank, Eva Grunwald, UniCredit, Manfred Knof Organizations: UniCredit, Bank, CNBC Locations: Frankfurt, London, Commerzbank, Berlin, Milan

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