By Simon Evans MANCHESTER (Reuters) – Asset manager Investcorp has entered into exclusive talks to purchase Italian club AC Milan, a source close to the deal told Reuters on Friday. The source said the deal to buy the Serie A club from current owners Elliott Management Corporation was close to being completed. Investcorp, which is…
BEIJING (Reuters) – China said on Friday it would cut the amount of cash that banks must hold as reserves for the first time this year, releasing about 530 billion yuan ($83.25 billion) in long-term liquidity to bolster a sharp slowdown in economic growth. Heightened global risks from the war in Ukraine, widespread COVID-19 lockdowns…
By Lewis Krauskopf NEW YORK (Reuters) – U.S. stock investors worried geopolitical uncertainty and the Federal Reserve’s fight against inflation could dent economic growth are heading for defensive sectors they believe can better weather turbulent times and tend to offer strong dividends. The healthcare, utilities, consumer staples and real estate sectors have posted gains so…
By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden on Friday said he would nominate former Treasury official Michael Barr to be the Federal Reserve’s top regulatory official, replacing Sarah Bloom Raskin who withdrew in March after failing to win the backing of moderate Democrats. Barr, now a professor at the University of Michigan…
TOKYO (AP) — Asian shares fell in muted trading as most world markets were closed for Good Friday and other holidays. Benchmarks declined in Tokyo, Seoul and Shanghai. Sydney, Manila, Bangkok and Hong Kong were among Asian markets observing holidays on Friday. U.S. and European markets also were closed. After markets closed, China’s central bank…
By Leika Kihara and Takahiko Wada TOKYO (Reuters) -The Bank of Japan is likely to raise its inflation forecast for the current fiscal year to near 2% at this month’s policy meeting as global commodity inflation drives up energy and food costs, said three sources familiar with its thinking. While the upgrade will bring inflation…
By Josh Horwitz and Sarah Wu SHANGHAI/TAIPEI (Reuters) – Shipments of some Apple products, as well as Dell and Lenovo laptops are likely to face delays if China’s COVID-19 lockdowns persist, analysts said, as curbs force assemblers to shut down and closed-loop arrangements get harder to maintain. China’s race to stop the spread of COVID-19…
By Guy Faulconbridge LONDON (Reuters) -Russia may be in default after it tried to service its dollar bonds in roubles due to Western sanctions over the war in Ukraine, Moody’s said, Moscow’s first major default on foreign bonds since the years following the 1917 Bolshevik revolution. Russia made a payment due on April 4 on…
LONDON (Reuters) – Moody’s Investors Service said that Russia may be in default after it made payments on dollar bonds with roubles. “Russia reportedly made payments on two bonds maturing in 2022 and 2042 in rubles rather than US dollars which represents a change in payment terms relative to the original bond contracts and therefore…
SHANGHAI (Reuters) -Automakers in China may have to suspend production in May if suppliers in Shanghai and surrounding areas are not able to resume work, He Xiaopeng, the chief executive officer of Chinese electric-car maker Xpeng, said on Thursday. Growing lockdowns to stop the spread of COVID-19 in China are clogging highways and ports and…
