(Reuters) -China Evergrande Group said on Wednesday it will sell its Crystal City Project in the eastern city of Hangzhou for 3.66 billion yuan ($575 million) to two state-owned firms as the group’s liquidity issues dampen the progress of its projects. The firm is selling the land-use and building ownership rights for the project, which…
By Sam Nussey and Dawn Chmielewski TOKYO/LOS ANGELES (Reuters) -Sony Group Corp’s revamp of its PlayStation subscription service is a major step toward levelling the playing field with Microsoft’s rival Game Pass, although holding back new releases may dampen enthusiasm, analysts say. Sony said its expanded PlayStation Plus service will offer hundreds of games, including…
By Alun John HONG KONG (Reuters) – Asia shares joined a global rally on Wednesday as hopes rose for a negotiated end to the Ukraine conflict, while bond markets signaled concern overnight that aggressive rate hikes could damage the U.S. economy after 10-year yields briefly dipped below two year rates. MSCI’s broadest index of Asia-Pacific…
By Jamie Freed (Reuters) – A Boeing 747-8 freighter that BOC Aviation Ltd leased to Russia’s AirBridgeCargo has flown from Hong Kong to California, according to FlightRadar24, after a U.S. judge signed an order allowing the lessor to repossess the plane. The order was unsealed and made public on Tuesday, according to court documents. The…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was kept on the back foot on Wednesday as hopes for a breakthrough in Russia-Ukraine peace talks lifted the euro, while the under-pressure yen steadied even as the Bank of Japan redoubled efforts to pin down bond yields. The euro, battered in recent weeks by fear of…
By Sonali Paul MELBOURNE (Reuters) – Oil prices climbed on Wednesday, erasing losses from the previous session, on hopes of progress in peace talks between Russia and Ukraine and providing a fresh reminder supply remains tight as data showed U.S. crude stocks fell sharply last week. Brent crude futures touched a high of $112.78 shortly…
(Reuters) – A U.S. judge ruled on Tuesday that a lawsuit accusing Meta Platforms Inc’s Facebook of deceiving advertisers about its “potential reach” tool can proceed as a class action. The decision by U.S. District Judge James Donato in San Francisco allows potentially millions of individuals and businesses that paid for ads on Facebook and…
By Luc Cohen NEW YORK (Reuters) – U.S. prosecutors on Tuesday sought to cast doubt on the testimony of the wife of a former Goldman Sachs banker, who is on trial over allegations he helped loot Malaysia’s 1MDB sovereign wealth fund. Roger Ng, Goldman’s former chief for Malaysia, is charged with conspiring to launder money…
By Ananya Mariam Rajesh (Reuters) -Lululemon Athletica on Tuesday forecast full-year profit and revenue above estimates as demand for athletic wear remains consistent even as people return to offices, and said it plans selective price increases on some of its products. Shares of the yogawear maker rose about 8% in extended trading as the company…
By Joseph White and David Shepardson (Reuters) – United Auto Workers (UAW) President Ray Curry said on Tuesday he has had no discussions with Tesla or its Chief Executive Elon Musk about a potential union vote by workers at the electric-car maker’s California factory. On March 3, Musk tweeted that he was inviting the “UAW…
