English

Economics at wsj.com

Today News

14

Apollo Global to Buy U.S. Silica in $1.85 Billion Deal

www.wsj.com

U.S. Silica Holdings has agreed to be taken private by Apollo Global Management in a deal that gives the industrial minerals company an enterprise value of roughly $1.85 billion.

Rosenbush's Take: Rubrik IPO Reflects Increasingly Difficult Path Startups Face to Going Public

www.wsj.com

Shares of cybersecurity startup Rubrik rose on their first day of trading, reflecting how the IPO market for enterprise software startups has started to come back to life, but only for a limited group of companies.

13

U.S.-Japan Rate Differential Weighs on Yen

www.wsj.com

The yen has come under increased selling pressure in the aftermath of the Bank of Japan’s policy meeting as the large U.S.-Japanese interest-rate differential weighs on the currency, RBC BlueBay Asset Management said.

ByteDance Says It Won't Sell U.S. TikTok

www.wsj.com

The Beijing-based company said that foreign-media reports that it is exploring the sale of TikTok “are untrue.”

Exxon's Earnings Come Back to Earth

www.wsj.com

Exxon Mobil banked $8.2 billion in profit in a humdrum quarter, maintaining its perch as one the country’s most profitable companies even as its run of record-setting profit tapers off.

Stock Futures Gain as Investors Await PCE Inflation and Oil Earnings

www.wsj.com

Futures tied to the tech-heavy Nasdaq-100, S&P 500 and the Dow industrials edged up ahead of the personal-consumption expenditures price index for March.

China to Pay Consumers Up to Nearly $1,400 to Replace Old Cars

www.wsj.com

China plans to give car owners up to nearly $1,400 to replace their old cars with new ones, a move to boost slowing demand in the world’s largest electric-vehicle market.

NextEra Arm, Squeezed by Niche Financing, Considers Private Capital Raise

www.wsj.com

NextEra Energy Partners is mulling its options for how to pay bills coming due under an obscure type of financing that has weighed on the company since its stock price tumbled last year.

12

Copper Futures Hit Two-Year High

www.wsj.com

Copper futures prices hit a fresh high, gaining from sanctions on Russian metals, tight market fundamentals and increasing structural demand.

China's Gold Consumption Rises on Safe-Haven Demand

www.wsj.com

Chinese buyers, spooked by a protracted property slump and a recent stock-market rout, are rushing toward gold as economic uncertainty looms, propelling a global bullion rally.

Air Conditioning and AI Are Demanding More of the World's Power---Renewables Can't Keep Up

www.wsj.com

Rapid growth of renewable power has been a bright spot in the energy transition, but soaring demand could make all of those gains moot.

Blinken Meets With Xi as U.S. Pressures China to End Support for Russia

www.wsj.com

Secretary of State Antony Blinken met with Chinese leader Xi Jinping as the U.S. urged Beijing to cut back on his nation’s extensive support for Russia’s defense industry.

OpenAI's Sam Altman and Other Tech Leaders to Serve on AI Safety Board

www.wsj.com

The panel will advise the Department of Homeland Security on deploying artificial intelligence safely within America’s critical infrastructure.

11

Copper Futures Break $10,000 a Ton, Rising to Two-Year Highs

www.wsj.com

Copper futures topped $10,000 a ton, hitting a two-year high, buoyed by sanctions on Russian metals, tighter individual market fundamentals and an overall improvement in the health of the global economy, BMI said.

Thoma Bravo to Buy U.K. Cybersecurity Firm Darktrace

www.wsj.com

Private equity firm Thoma Bravo said it plans to buy Darktrace in a cash deal that values the U.K. cybersecurity company at around $5 billion.

10

Oil Edges Higher Ahead of U.S. PCE Data

www.wsj.com

Oil prices ticked higher ahead of key U.S. inflation data that will offer more cues on the path of interest rates.

CVC Soars in of Amsterdam Trading Debut

www.wsj.com

CVC shares rose 24% on the first day of trading on Amsterdam’s stock exchange, after the buyout firm priced its IPO at the mid point of its previously guided range, implying a market capitalization of $15 billion.

Remy Cointreau Lifted by China Improvement

www.wsj.com

Remy Cointreau posted fourth-quarter sales slightly ahead of views, as it saw a better-than-expected performance in China, but continued to destock in the U.S.

U.S. 10-Year Treasury Yield Remains Near Multi-Month Highs

www.wsj.com

Treasury yields remained at multi-month highs they reached on Thursday, following weaker-than-expected first-quarter GDP and a stronger-than-expected acceleration in core PCE inflation.

Anglo Rejects BHP's $39 Billion Bid

www.wsj.com

The London-listed mining giant said the bid “significantly undervalues” the company, setting the stage for a potential bidding war.

Traton First Quarter Beats Forecasts Despite European Slowdown

www.wsj.com

Traton posted above-forecast results for the first quarter, thanks to stronger pricing and market growth in South America and despite slower momentum in Europe.

09

NatWest Backs Guidance After First Quarter Tops Hopes

www.wsj.com

NatWest kept its 2024 guidance unchanged as its first-quarter income and profit fell slightly less than expected.

Thyssenkrupp Offloads Stake in Steel Business

www.wsj.com

Thyssenkrupp has agreed to sell a 20% stake in its steel business to Czech billionaire Daniel Kretinsky’s EP Corporate Group for an undisclosed sum, settling on a partial divestment after yearslong efforts to dispose of it.

TotalEnergies Plans $2 Billion Buyback After Profit Beat

www.wsj.com

TotalEnergies reported higher-than-expected profits in the first three months of the year and said it would buy back $2 billion of shares this quarter.

08

Safran Backs Outlook as Revenue Beats Forecasts

www.wsj.com

Safran confirmed its full-year guidance after it posted first-quarter revenue above expectations, as the postpandemic recovery in air traffic continued.

Chinese Financial Services Shares Gain on Consolidation Hopes

www.wsj.com

Shares of several Chinese financial services companies traded higher Friday on expectations that the sector may see consolidation after state-run Guolian Securities announced its intention to buy another smaller firm.

07

Singapore Economy Likely to Strengthen This Year, But Faces Long-Term Pressures

www.wsj.com

Singapore’s central bank said growth could be driven by the global electronics upturn, which is broadening beyond semiconductors and is fueling growth in Asia’s emerging markets.

06

Bank of Japan Holds Rates Steady, Expects Inflation to Stay Around 2%

www.wsj.com

The Bank of Japan kept its interest-rate target unchanged, a month after it made its first rate increase in 17 years.

The Biden administration is consolidating approval authority over big power-grid projects to accelerate upgrades and provide access to a gusher of new clean-energy projects.

www.wsj.com

The Biden administration is consolidating approval authority over big power-grid projects to accelerate upgrades and provide access to a gusher of new clean-energy projects.

States Take On China in the Name of National Security

www.wsj.com

State officials, overriding local interests such as new investment and jobs, say they are acting where Congress hasn’t to address American distrust of Beijing.