HONG KONG (Reuters) – Shares of cash-strapped Shimao Group rose on Monday after the Chinese developer and its chairman sold a Shanghai hotel and a stake in a Hong Kong development, respectively, for a total of $836 million, in their latest efforts to raise funds. The disposals come after Shimao put up its assets worth…
By Yuka Obayashi TOKYO (Reuters) -Oil rose more than 1% on Monday to near 7-year highs hit in the previous session, while supply concerns and political tensions in Eastern Europe and the Middle East put prices on track for their biggest monthly gain in almost a year. Brent crude rose $1.07, or 1.2%, to $91.10…
BEIJING (AP) — Asian stocks followed Wall Street higher Monday at the start of a week when China, South Korea and Southeast Asian markets will close for the Lunar New Year holiday. Benchmarks in Tokyo and Hong Kong advanced while Sydney declined. Markets in mainland China, South Korea and Taiwan were closed. Hong Kong and…
HONG KONG (Reuters) – Shares of Macau Legend, which owns and operates a casino resort in Macau, fell more than 20% to an all-time low on Monday after its chief executive was arrested and detained by police in the world’s largest gambling hub. CEO Chan Weng Lin’s arrest comes as authorities have stepped up a…
By Wayne Cole SYDNEY (Reuters) – Asian share markets made guarded gains on Monday ahead of a week that is likely to see a rise in UK interest rates and mixed reports on U.S. jobs and manufacturing, while surging oil prices add to worries over inflation. Data out on Sunday showed China’s factory activity slowed…
By Yuka Obayashi TOKYO (Reuters) – Oil rose 1% on Monday, hovering near 7-year highs hit in the previous session, amid concerns over tight supply as well as geopolitical tensions in Eastern Europe and the Middle East. Brent crude rose 92 cents, or 1.0%, to $90.95 a barrel at 0051 GMT, after adding 69 cents…
By Alun John HONG KONG (Reuters) – The dollar was near a year-and-a-half high against the euro on Monday with equities markets volatility expected to push it higher in the short-term as traders eyed upcoming Australian, UK and European central bank meetings. The euro was at $1.1148, just off last Friday’s low of $1.1119, its…
By Daniel Leussink TOKYO (Reuters) – Japan’s factory output shrank for the first time in three months in December as a decline in machinery outweighed a small rise in car production, casting a cloud over the strength of the economic recovery. Retail sales posted their third straight month of year-on-year gains in December as low…
SHANGHAI (Reuters) -A growing number of Chinese construction and decoration companies are writing off assets or issuing profit warnings as debt woes at China Evergrande Group and other property developers debilitate their suppliers. More such disclosures are expected during the upcoming earnings season, putting pressure on Chinese authorities to do more to limit the contagion…
By Tom Polansek CHICAGO (Reuters) – The U.S. Department of Agriculture said on Sunday it will help fund a new container yard for agricultural exports at California’s Port of Oakland, as the government, ports and food companies scramble to ease costly shipping delays. The multimillion-dollar project is set to open in March, and officials said…
