BEIJING (Reuters) – Mergers and acquisitions in the Chinese property market will help firms lower their debt, Zou Lan, head of financial markets at the People’s Bank of China (PBOC), said on Thursday. “Mergers and acquisitions of projects between real estate companies are the most effective market-oriented means for real estate companies to resolve…
By Scott Murdoch and Kane Wu (Reuters) -SenseTime Group shares surged as much as 23% from their IPO price on Thursday, adding billions of dollars to the artificial intelligence start-up’s market value as it debuted in Hong Kong in the city’s final major float for the year. Some analysts had expected the shares to…
By Florence Tan and Sonali Paul SINGAPORE (Reuters) – Oil prices eased on Thursday after the world’s top importer China cut the first batch of crude import allocations for 2022, offsetting the impact of U.S. data showing fuel demand had held up despite soaring Omicron coronavirus infections. Brent crude futures fell 41 cents, or…
HONG KONG (Reuters) – China Evergrande Group said on Thursday in its Wechat account that 91.7% of its national projects have resumed construction after three months of effort. Company Chairman Hui Ka Yan vowed in a meeting on Sunday to deliver 39,000 units of properties in December, compared with fewer than 10,000 in each…
By Tom Wilson and Elizabeth Howcroft LONDON (Reuters) – Bitcoin close to $70,000, “memecoins” worth billions of dollars, a blockbuster Wall Street listing and a sweeping Chinese crackdown: 2021 was the wildest yet for cryptocurrencies, even by the sector’s volatile standards. Digital assets started the year with a stampede of cash from investors large…
By Oliver Hirt ZURICH (Reuters) -A preliminary investigation by Credit Suisse found that its Chairman Antonio Horta-Osorio attended the Wimbledon tennis finals in July during a visit to Britain when the country’s COVID-19 rules required him to be in quarantine, two sources familiar with the matter told Reuters. It’s the second time the Portuguese…
By Sudarshan Varadhan, A. Ananthalakshmi and Ahmed Farhatha SRIPERUMBUDUR, India (Reuters) – For women who assembled iPhones at a Foxconn plant in southern India, crowded dorms without flush toilets and food sometimes crawling with worms were problems to be endured for the paycheck. But when tainted food sickened over 250 of the workers their anger…
By Alun John HONG KONG (Reuters) – The yen dropped to a new one-month low and sterling hit a six-week high in holiday-thin trading on Thursday, after investors overnight had turned back towards riskier currencies and equities. The moves seemed to be linked to recent improved sentiment as many governments resist imposing new, widespread…
By Cheryl Lu-Lien Tan NEW YORK (Reuters) – Annette Clayton is well aware of how few women there are in the energy industry. She is using her power as one of the most senior females in the field to change it. “I’m a huge believer in mentoring,” says Clayton, who is CEO and president…
By Joyce Lee and Manya Saini (Reuters) -Samsung Electronics and Micron Technology, two of the world’s largest memory chip makers, warned that strict COVID-19 curbs in the Chinese city of Xian could disrupt their chip manufacturing bases in the area. The lockdown in the city puts further pressure on global supply chains and adds…
