BOAO, China (Reuters) – A prolonged slowdown in China would have substantial global spillovers, IMF Managing Director Kristalina Georgieva said on Thursday, but added that Beijing has room to adjust policy to provide support. The International Monetary Fund on Tuesday cut its growth forecast for China this year to 4.4%, well below Beijing’s target of…
By Leika Kihara TOKYO (Reuters) -The yen’s recent declines have been driven by fundamentals and would be no reason for Japan to change its economic policy, including the central bank’s ultra-low interest rates, a senior International Monetary Fund (IMF) official said. The remarks highlight the difficulty Tokyo may face if it sought international consent to…
By Alun John HONG KONG (Reuters) – Mainland China and Hong Kong stocks fell on Thursday, hurt by worries about the Chinese economy, but an overnight tumble in longer dated U.S. treasury yields lent support to other benchmark indexes. A 0.78% drop for Hong Kong and 0.36% decline for blue chips in mainland China pulled…
(Reuters) – Elon Musk’s The Boring Company has raised $675 million in Series C funding round, which now values the tunneling enterprise at $5.675 billion, the company said https://bit.ly/3jWhfBA on Wednesday, adding that the proceeds will be used to ramp up its hiring across sectors. The Austin, Texas-based company, which plans to expand its workforce…
By Svea Herbst-Bayliss (Reuters) – Billionaire investor William Ackman liquidated a $1.1 billion bet on Netflix on Wednesday, locking in a loss of more than $400 million as the streaming service’s stock plunged following news that it lost subscribers for the first time in a decade. Ackman’s hedge fund Pershing Square Capital Management made an…
TOKYO (AP) — A popular Japanese beef bowl chain, Yoshinoya Holdings Co., has fired an executive over sexist remarks he made about a marketing strategy aiming to get young women “hooked” on its products as though turning “virgins into drug addicts.” Masaaki Ito, a managing director at Yoshinoya, known for its “gyudon” beef-over-rice dish, made…
By David Shepardson WASHINGTON (Reuters) -Delta Air Lines said on Wednesday it plans to restore flight privileges to about 2,000 customers who were barred from flights after failing to comply with mask rules. The Biden administration on Monday said it would no longer enforce a U.S. mask mandate on public transportation and airlines after a…
By Ana Mano SAO PAULO (Reuters) – Brazil’s ABPA, a lobby group representing large pork and chicken processors like JBS SA and BRF SA, said on Wednesday its member companies are facing difficulties shipping products through the Port of Shanghai. The statement, sent in response to a question from Reuters about the effects of the…
BOSTON (Reuters) – Proxy advisory firms Glass Lewis and Institutional Shareholders Services urged investors in healthcare real estate trust Ventas Inc to back management’s director candidates and reject activist investment firm Land & Buildings’ effort to win one board seat. Land & Buildings’ founder Jonathan Litt nominated himself as a director candidate, arguing that poor…
(Corrects Brent market movement in paragraph 2; fell, not rose) By Laura Sanicola (Reuters) -Oil settled nearly unchanged on Wednesday as broader concerns about economic growth and oil demand stagnation weighed against tightening supplies. Brent crude futures fell 45 cents, or 0.4 %, to settle at $106.80 a barrel. The front-month WTI crude futures contract,…
