LONDON (Reuters) – The U.S. dollar rose to a five-year high versus the yen on Tuesday, boosted by expectations of U.S. Federal Reserve rate hikes, as investors bet that the fast-spreading Omicron coronavirus variant would have limited economic impact. In the second trading day of 2022, global markets extended the upbeat moves seen on Monday….
SHANGHAI (Reuters) – Tesla’s announcement that it has opened a showroom in Xinjiang has attracted criticism from U.S. rights and trade groups, making it the latest foreign firm caught up in tensions related to the far-western Chinese region. Xinjiang has become a significant point of conflict between Western governments and China in recent years, as…
By David Kirton GUANGZHOU, China (Reuters) – Investors in financial products issued by China Evergrande Group protested outside the cash-strapped company’s offices in Guangzhou on Tuesday, with many worried that their returns would be sacrificed to keep real estate projects afloat. Members of the crowd of roughly 100 people shouted “Evergrande, return our money!”, reprising…
HONG KONG (Reuters) – Embattled property developer China Evergrande Group said on Tuesday its contracted sales for 2021 had plunged 39% from the previous year to 443 billion yuan ($69.5 billion), as its shares were set to resume trading. The company said its shares would resume trading at 1:00 p.m. (0500 GMT) after being suspended…
SHANGHAI (Reuters) – China’s central bank said it will adjust the legal framework around financial credit-scoring if needed, state media reported, an indication authorities may tweak guidelines for fintech firms on the amount and type of user data they can collect. In view of new concerns around the collection of credit data, the People’s Bank…
SHANGHAI (Reuters) -China’s cyberspace regulator said on Tuesday it will implement new rules from Feb. 15 that require platform companies with data for more than 1 million users to undergo a security review before listing their shares overseas. The Cyberspace Administration of China (CAC) also said such firms should apply for cybersecurity reviews before submitting…
(Reuters) – U.S. President Joe Biden could pick former Federal Reserve Governor Sarah Bloom Raskin as his choice for vice chair of supervision at the central bank, Axios reported on Monday, saying an announcement is expected as soon as this week. Raskin, who served in the Treasury Department in the Obama administration, could bring a…
SHANGHAI (Reuters) – China’s cyberspace regulator on Tuesday said it would implement rules that require any company with data for more than 1 million users to undergo a security review before listing its shares overseas from Feb. 15. It also said such firms should apply for cybersecurity reviews before submitting listing appliation to foreign securities…
By Brendan Pierson (Reuters) – A U.S. jury on Monday found Theranos founder Elizabeth Holmes guilty of conspiring to defraud investors in the blood testing startup, convicting her on four of 11 counts. Holmes, 37, was accused of defrauding investors and patients with her claims of revolutionizing lab testing with a machine that used a…
By Richa Naidu and Danielle Kaye CHICAGO (Reuters) -Walmart temporarily shut almost 60 U.S. stores in COVID-19 hotspots in December to sanitize them against the virus, in a sign the new Omicron variant is disrupting the retail industry. The Walmart stores – in locations including Texas and New Jersey – were closed for two days…
