Category: Market News
Special-purpose acquisition corporation 10X Capital Venture Acquisition Corp. II VCXA, +0.51% has reached an agreement to merge with Prime Blockchain Inc., an infrastructure provider for blockchain technology, in a deal with an estimated enterprise value of about $1.25 billion. The combined company will be headed by ex-Goldman Sachs investment banker Gaurav Budhrani and will list […]
The numbers: The U.S. created a robust 431,000 jobs in March and the unemployment rate took another step toward a half-century low, as companies pushed to add staff and more people entered the labor force in search of work. Economists polled by The Wall Street Journal had forecast 490,000 new jobs, but the shortfall was […]
Shares of Hudson Capital Inc. HUSN, +36.27% rocketed 34.2% in active trading to pace all premarket gainers, after the Texas-based transportation logistics company, with a specialty in U.S.-Mexico-Canada cross-border shipping, announced the sale of its Hong Kong Internet Financial Services subsidiary to private investors. Trading volume ballooned to 4.1 million shares ahead of the open, […]
William Watts is MarketWatch’s senior markets writer. Based in New York, Watts writes about stocks, bonds, currencies and commodities, including oil. He also writes about global macro issues and trading strategies. Before moving to New York, he reported for MarketWatch from Frankfurt, London and Washington, D.C. Source: Marketwatch
Carlyle Group Inc.-backed CG, +1.04% Fortitude Reinsurance Co. Ltd. said Friday it closed its acquisition of Prudential Annuities Life Assurance Corp. (PALAC), a unit of Prudential Financial Inc. PRU, +0.19%, for an undisclosed sum. The deal, which was announced in September, includes about $31 billion of in-force variable annuity account values, mostly from non-New York, […]
The numbers: The Institute for Supply Management’s Manufacturing PMI, a closely followed index of U.S.-based manufacturing activity, slipped to 57.1% in March from 58.6% in the prior month, the research group said Friday. This is the lowest level since September 2020. Given strength in the regional manufacturing surveys in March, economists polled by The Wall […]
Baker Hughes BKR, +0.03% on Friday reported that the number of active U.S. rigs drilling for oil was up by two to 533 this week. That followed a climb of seven oil rigs the week before, Baker Hughes data show. The total active U.S. rig count, which includes those drilling for natural gas, climbed by […]
The U.S. House of Representatives on Friday passed the Marijuana Opportunity, Reinvestment and Expungement Act (MORE Act) by a vote of 220 to 204 mostly along partly lines. It’s the second time the legislative body has approved the measure to legalize cannabis on the federal level after a vote in 2020. The measure is expected […]
Ford Motor Co. F, -1.54% Chief Executive James Farley total compensation for 2021 nearly doubled from a year ago, boosted by a big increase in stock awards. In Ford’s 2021 proxy statement filed Friday, the automaker said Farley’s total compensation was $22.81 million, up 93.3% from $11.80 million in 2020 and from $8.36 million in […]
The Biden administration plans on May 23 to end Trump-era pandemic restrictions on immigration, the Centers for Disease Control and Prevention said Friday. “After considering current public health conditions and an increased availability of tools to fight COVID-19 (such as highly effective vaccines and therapeutics), the CDC Director has determined that an Order suspending the […]