Wall Street's main indexes closed higher on Monday as investors bet on some of the market's most high-profile stocks ahead of earnings reports while they weighed progress in U.S. government stimulus efforts against rising U.S. COVID-19 cases.
Italy's Intesa Sanpaolo said it expected its takeover bid for rival UBI Banca to fully succeed as market regulator Consob extended it by two days to give shareholders more time to make an informed decision.
Global equity benchmarks edged higher and gold soared to an all-time high on Monday as investors weighed expectations for another U.S. stimulus package against concerns that rising tensions between the United States and China will the slow the global economy's recovery from the coronavirus pandemic.
Facebook is suing EU antitrust regulators for seeking information beyond what is necessary, including highly personal details, for their investigations into the company's data and marketplace, the U.S. social media group said on Monday.
Oil prices rose on Monday on hopes that stimulus efforts will help revitalize the U.S. economy, but the gains were capped by rising coronavirus cases and tensions between Washington and Beijing.
Italy's government is studying a plan to create a single ultra-fast broadband network that could initially be majority-owned by phone incumbent Telecom Italia (TIM) but would grant equal access to all market players, a person close to the matter told Reuters.
Alstom is set to gain EU antitrust approval to buy Bombardier Inc's rail business, people familiar with the matter said on Monday, a deal which will make the French rail maker the world's second largest behind Chinese leader CRRC Corp.
Spartan Capital Securities' Peter Cardillo expects the Fed to say it'll do "whatever it takes" to keep adding liquidity to the markets when policymakers meet this week. But he also tells Reuters' Fred Katayama that he thinks there's a good chance the markets will pull back, regardless of the Fed, because "the economy is faltering."
Hasbro reported a sharp drop in revenue Monday, as production shutdowns due to the COVID-19 pandemic crimped the toymaker's efforts to cash in on strong demand for its board games. Fred Katayama reports.
Sponsored by IBM: 2019 Cost of Data Breach Study
The 14th annual study, conducted by Ponemon Institute and sponsored by IBM, analyzes data breach costs reported by 507 organizations around the world.
