2025-10-13 23:28
SAO PAULO, Oct 13 (Reuters) - Brazilian airline Gol Linhas Aereas Inteligentes SA (GOLL54.SA) , opens new tab on Monday announced plans to go private as part of a corporate reorganization process. The company, which earlier this year emerged from U.S. bankruptcy proceedings, said in a regulatory filing that it intends to delist shares from the Brazilian stock exchange B3, a move still contingent on approvals, including from shareholders. Sign up here. As part of the restructuring, the company and Gol Investment Brasil SA will merge into another private company within the group, Gol Linhas Aereas, which does not intend to have listed shares. "The incorporation aims to reorganize the company's operations, seek synergies, and reduce its costs," said Gol, which made its initial public share offering (IPO) in Brazil in 2004. As part of a board-approved process, there will be a public tender offer for the current listed shares of Gol. However, the airline will reserve the right to cancel the offer if its total value reaches or exceeds 47.25 million reais ($8.64 million). Gol's financial reorganization during Chapter 11 significantly diluted the airline's free float, which is less than 1% for the non-common shares, minimizing the impact of its stock exchange exit. In 2024, Gol filed for Chapter 11 bankruptcy in the U.S. as the airline industry faced significant challenges, including debt, fewer passengers during the COVID-19 pandemic, and aircraft delivery delays. Gol's Brazilian rival Azul also filed for Chapter 11 in May this year. https://www.reuters.com/world/americas/brazils-gol-plans-restructuring-proposal-that-would-take-it-private-2025-10-13/
2025-10-13 23:10
Broadcom jumps on OpenAI partnership Investors focus on bank earnings Bank results to kick off quarterly earnings season S&P 500 +1.56%, Nasdaq +2.21%, Dow +1.29% Oct 13 (Reuters) - Wall Street's main indexes ended sharply higher on Monday, led by gains in Broadcom and other chipmakers, after President Donald Trump struck a conciliatory tone about renewed U.S.-China trade tensions, easing investor worries. Lifting sentiment, U.S. Treasury Secretary Scott Bessent said in an interview with Fox Business Network that Trump was on track to meet his Chinese counterpart in South Korea as the two sides work on de-escalating trade frictions that grew late last week. Sign up here. AI-related tech stocks were the biggest winners in Monday's rebound. Broadcom (AVGO.O) , opens new tab surged almost 10% after partnering with OpenAI to produce the startup's first in-house artificial intelligence processors. The Nasdaq notched its biggest one-day gain since May 27. "AI continues to be the momentum driver, and it's not surprising investors have purchased the dip," said Sam Stovall, Chief Investment Strategist at CFRA Research, adding that investors should remain cautious as long as Trump's dispute with China remains unresolved. Wall Street tumbled on Friday, with the S&P 500 and Nasdaq posting their steepest weekly declines in months. The latest rupture followed China's announcement on Thursday that it would dramatically expand its rare earths export controls. In retaliation, Trump on Friday said he would apply an additional 100% tariff on imports from China and impose export controls on all critical U.S.-made software from November 1. However, over the weekend, Trump said "it will all be fine" and that the U.S. did not want to "hurt" China. China on Sunday blamed the U.S. for the escalation but did not roll out further countermeasures. Other AI-related chipmakers also gained, with Nvidia climbing 2.8% and Micron Technology jumping over 6%. The PHLX chip index (.SOX) , opens new tab soared almost 5%. JPMorgan Chase (JPM.N) , opens new tab, Goldman Sachs (GS.N) , opens new tab, Citigroup (C.N) , opens new tab, and Wells Fargo (WFC.N) , opens new tab are set to release quarterly results on Tuesday, kicking off an earnings season that investors will watch closely for signs of how tariffs are impacting Wall Street's largest companies. Earnings reports will provide fresh clues on the economy at a time when major official data releases remain delayed due to an ongoing government shutdown. Analysts on average expect S&P 500 companies' third-quarter earnings to grow 8.8% from a year ago, according to LSEG data. The S&P 500 climbed 1.56% to end the session at 6,654.72 points. The Nasdaq gained 2.21% to 22,694.61 points, while the Dow Jones Industrial Average rose 1.29% to 46,067.58 points. Ten of the 11 S&P 500 sector indexes rose, led by information technology (.SPLRCT) , opens new tab, followed by a 2.29% gain in consumer discretionary (.SPLRCD) , opens new tab. Following Friday's steep drop and Monday's partial recovery, the S&P 500 is about 1.5% below its record high close reached on October 8. In the Middle East, Hamas freed the last living Israeli hostages from Gaza and Israel sent home Palestinian detainees as part of a ceasefire deal pushed by Trump. Oracle (ORCL.N) , opens new tab jumped 5.1% after at least two brokerages raised their price target on the AI cloud firm. Estee Lauder (EL.N) , opens new tab advanced 5.8% after a report that Goldman Sachs upgraded the stock's rating to "buy" from "neutral". Fastenal (FAST.O) , opens new tab dropped 7.5% after the industrial supplies distributor missed third-quarter profit expectations. Advancing issues outnumbered falling ones within the S&P 500 (.AD.SPX) , opens new tab by a 2.5-to-one ratio. The S&P 500 posted 7 new highs and 14 new lows; the Nasdaq recorded 91 new highs and 120 new lows. Volume on U.S. exchanges was relatively light, with 18.2 billion shares traded, compared to an average of 20.2 billion shares over the previous 20 sessions. (This story has been refiled to fix the garbled text in paragraph 7) https://www.reuters.com/world/china/wall-street-futures-climb-after-trump-tones-down-tough-talk-trade-2025-10-13/
2025-10-13 22:07
Oct 13 (Reuters) - Oil tanker operator DHT Holdings (DHT.N) , opens new tab said on Monday that its fleet does not fall under the scope of China's new special port fees targeting U.S.-linked vessels. China has imposed fees on U.S. ships that visit its ports, effective October 14, as a countermeasure to U.S. port fees on China-linked ships. Sign up here. China's move targets U.S. built, flagged and operated ships, as well as companies with 25% or more of their shares or board seats held by U.S.-domiciled investment funds. DHT said "each vessel in the company's fleet is directly owned by a non-U.S. entity, was built in a non-U.S. jurisdiction, does not fly the U.S. flag and is operated from management companies in Monaco, Norway, Singapore and India." Additionally, U.S. nationals only represent 20% of the composition of the company's board, it said. DHT added that it was not aware of U.S. shareholders or reporting groups that control over 25% or more of DHT's shares or voting rights. However, the company cautioned that it cannot accurately verify the ownership of each individual shareholder. https://www.reuters.com/world/china/dht-says-its-fleet-has-no-us-links-after-chinas-new-port-fee-move-2025-10-13/
2025-10-13 21:55
Oct 13 (Reuters) - Russian forces attacked Kharkiv, Ukraine's second-largest city, with guided bombs on Monday, knocking out power to 30,000 customers in three districts, local officials said. Regional Governor Oleh Syniehubov, writing on the Telegram messaging app, said Russian forces used guided bombs to attack Nemyshlianskyi and Slobidskyi districts in the southeast and Shevchenkivskyi district in the north of the city. Sign up here. Mayor Ihor Terekhov, interviewed on local television, said the three bombs damaged a hospital and hit power transmission lines. Nearly 30,000 customers had been hit by power cuts. He said four people had been injured, most by flying glass, with some patients being transferred to different wards. "Unfortunately, the hospital was quite badly damaged and there were patients inside. Four people were injured to various degrees and about 200 windows were smashed," Terekhov said. "Attacks are generally on energy targets - generation transmission, the power network. The aim is to have the power transmission network stop working." In recent weeks, Russian forces have concentrated their attacks on targets associated with Ukraine's electricity grid and gas industry as winter approaches in the more than 3-1/2-year-old war. A mass attack on Kyiv and other centres last week left more than a million households and businesses temporarily without power across the country. Water supplies were also disrupted. In the city of Kostiantynivka in eastern Donetsk region, one of the prime targets of Russia's slow advance through the area, a Russian drone attack on Monday killed two people in their car, the head of the city's military administration said. Russia's Defence Ministry on Monday said its forces had captured two new villages in their drive through eastern Ukraine - one in Donetsk region and the other near Kupiansk in the northeast, a largely destroyed city under attack for months. But the first corps of Ukraine's National Guard said it had repelled a new attempt by Russian forces to make advances near the town of Dobropillia in Donetsk region. Ukrainian President Volodymyr Zelenskiy and other officials have reported successes by the military around Dobropillia, near the key logistics hub of Pokrovsk. https://www.reuters.com/world/europe/russian-attack-ukraines-kharkiv-cuts-power-30000-officials-say-2025-10-13/
2025-10-13 21:37
Q3 iron ore shipments miss analyst expectations Oyu Tolgoi ramp-up boosts copper output Second straight record quarter of bauxite production Oct 14 (Reuters) - Rio Tinto (RIO.AX) , opens new tab, (RIO.L) , opens new tab said on Tuesday it needs a strong year-end finish to meet its iron ore shipment target, even as Chinese demand gathered pace as global economies front-loaded investment ahead of looming tariffs. Iron ore prices have surged to their highest levels since February, driven by targeted infrastructure stimulus in China that boosted steel production, Rio said, with China’s iron ore imports hitting a record high in September. Sign up here. Rio said it shipped 84.3 million tons from its operations in Western Australia during the third quarter, narrowly missing the Visible Alpha consensus estimate of 85.5 million tons. Four cyclones in the region disrupted iron ore operations early this year, prompting Rio to forecast its 2025 iron ore shipments at the lower end of its guidance range of 323 million to 338 million metric tons. "A strong Q4 performance is required as the system remains tightly balanced and has limited ability to mitigate further losses," the world's largest iron ore miner said. Australian-listed shares in Rio gained up to 3.6% in early trading on Tuesday to reach the highest level since late September, reflecting a broader rally among iron ore miners. Peers BHP (BHP.AX) , opens new tab and Fortescue (FMG.AX) , opens new tab gained more than 2% each. Rio said China had entered the third quarter grappling with persistent deflation, sluggish manufacturing, weak exports and ongoing property market woes. Still, Beijing remains focused on hitting its 5% annual economic growth target, leaning on targeted support for infrastructure and technology rather than broad-based stimulus, the company added. Rio also noted China had diversified its iron ore supply sources, boosting purchases from smaller iron ore suppliers, with the major iron ore producers’ combined shipments remaining flat on the year. The quarter was the first under new CEO and former head of iron ore Simon Trott, who in August announced a simplification of the company's structure into three divisions: global iron ore, aluminium and lithium, and copper. Rio said it remained committed to safety after a fatality at its Simandou operarations in Guinea, where iron ore shipments are set to start before year-end. Like its peers, Rio is ramping up the production of copper, which is expected to be in high demand during the transition to greener forms of energy. Rio produced record copper at its Oyu Tolgoi operations in Mongolia where the miner remains on track to boost copper output by more than 50% this year. The miner reported a second consecutive record quarter of bauxite production and lifted its full-year estimate to a range of 59 million tons to 61 million tons, on the back of strong performance at the Amrun bauxite mine in northern Australia. https://www.reuters.com/business/rio-tintos-third-quarter-iron-ore-shipments-rise-6-sequentially-2025-10-13/
2025-10-13 21:17
Options market sees 'put' buying in bitcoin, ether Volatility spikes across the board Post-crash, bitcoin flows holding up well Investors shifting flows to bitcoin from altcoins -analyst NEW YORK, Oct 13 (Reuters) - Following the largest crypto liquidation in history last Friday, options market investors are bracing for more volatility and further declines in bitcoin and ether, aggressively positioning in trades that offer protection against another potential freefall. Market participants said the crypto sector on Friday saw more than $19 billion in liquidations across leveraged positions as panic selling and low liquidity triggered sharp swings. The plunge came after U.S. President Donald Trump announced late on Friday a 100% tariff on Chinese imports and threatened export controls on critical software. Sign up here. Crypto analysts said this was the largest wipeout in a 24-hour period in the market's history, nine times larger than the February 2025 crash and 19 times bigger than the March 2020 meltdown and the FTX collapse in November 2022. Bitcoin fell as low as $104,782.88 during the October 10-11 period, down more than 14% from its high of $122,574.46 on Friday. It was last up 0.6% at $115,718.13. The world's largest cryptocurrency hit a record high above $126,000 on October 6. Ether, the second biggest digital currency, dropped 12.2% to a low of $3,436.29 on Friday. It last changed hands at $4,254, up 2.4% on the day. Altcoins took an even bigger hit as HYPE (-54%), DOGE (-62%), and AVAX (-70%) all experienced steep drawdowns before recovering to post more modest losses. Trump over the weekend softened his rhetoric on China, however, noting that "it will all be fine" and the U.S. did not want to "hurt" China. That helped the crypto recovery. China on Sunday blamed the U.S. for the escalation, but did not roll out further countermeasures. "Last Friday, you saw volatility just jump across the board, not only for short-dated, but also for long-dated maturities. The sentiment around short-dated volatility is that more people are worried about downward turns," said Sean Dawson, head of research at Derive.xyz in Canberra. Data from Derive.xyz, a crypto options trading platform, showed heavy "put" buying from traders in bitcoin and ether, which suggested hedging against potential downside risks. In bitcoin, there were hefty purchases of puts conferring the right to sell bitcoin at strike prices of $115,000 and $95,000 for the October 31 expiry, according to Dawson. There was also a sharp reversal from call buying to call selling at the $125,000 strike for the October 17 expiry, suggesting a bearish short-term view. Calls in the options market reflect expectations that the price will increase. For ether, Nick Forster, Derive.xyz co-founder, said traders focused on the $4,000 strike for the October 31 expiry and $3,600 strike for the October 17 expiry. He also noted substantial buying of $2,600 puts for the December 26 expiry. Those strikes, he said, are indicative of growing bearish sentiment through year-end. Despite the meltdown, Willy Woo, a leading onchain crypto analyst with more than a million followers on X, noted that bitcoin investor flows have been holding up well and may be the reason it fared better than expected against a sharp decline in stocks. In contrast, Woo said he saw a large drop in ether flows while Solana continued a decline. He believes that capital in altcoins is likely rotating into bitcoin rather than leaving the system. Altcoins, also known as alternative coins, refer to cryptocurrencies other than bitcoin, which are often treated as high-risk, high-reward investments. Some altcoins deliver massive returns, but many fail or lose liquidity. Bitcoin, on the other hand, is widely viewed as a "blue-chip" crypto asset, widely-held by institutions. "The good news is that this (crash) has cleaned out the excessive leverage and reset the risk in the market, for now," said Nic Puckrin, crypto analyst and co-founder of The Coin Bureau. "However, bitcoin now faces another uphill battle to break past key resistance levels that will allow it to reach a meaningful new all-time high this year." https://www.reuters.com/world/asia-pacific/after-record-crypto-crash-rush-hedge-against-another-freefall-2025-10-13/
