By Alun John and Selena Li HONG KONG (Reuters) – Asian shares tracked Wall Street gains on Thursday after the U.S. central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared, lifting investor sentiment and sending the dollar lower. Crude prices, meanwhile, shot up as the…
BEIJING (Reuters) – China’s services sector activity contracted at the second-steepest rate on record in April, as COVID curbs halted the industry, leading to sharper reductions in new business and employment, a private-sector survey showed on Thursday. The Caixin services purchasing managers’ index (PMI) stood at 36.2 in April, the second-lowest since the survey begun…
(Reuters) – The U.S. Securities and Exchange Commission added over 80 firms to its list of entities facing possible expulsion from American exchanges, which include China’s JD.com, Pinduoduo Inc, Bilibili Inc, and NetEase Inc. The SEC on Wednesday expanded the list, consisting of U.S.-listed Chinese entities, on a provisional lineup under a 2020 law known…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was nursing its sharpest fall in more than a month on Thursday after the U.S. Federal Reserve raised its benchmark interest rate by 50 basis points but poured cold water on the idea that even larger rises could lie ahead. The U.S dollar index toppled from a…
By Sheila Dang (Reuters) – Twitter Inc is facing a skeptical audience as it showcases its advertising opportunities on Wednesday evening at an event in New York City, three ad agency executives told Reuters, as the social media company’s plans under billionaire Elon Musk remain unclear. The Tesla chief executive, who is buying Twitter for…
(In first paragraph, corrects time period of record to nearly two years from nearly one year) By Echo Wang and Devik Jain (Reuters) -U.S. stocks ended sharply higher on Wednesday after the Federal Reserve delivered a widely expected interest-rate hike, and the S&P 500 recorded its biggest one-day percentage gain in nearly two years. Stocks…
NEW YORK (Reuters) – The former chief risk officer of Archegos Capital Management has partially settled U.S. Securities and Exchange Commission claims he aided a fraud at Bill Hwang’s private investment firm that left Wall Street banks with $10 billion in losses, a Wednesday court filing shows. Scott Becker, who is cooperating with U.S. prosecutors…
NEW YORK (AP) — Stanford University will launch a new school focusing on climate change thanks to a $1.1 billion gift from billionaire venture capitalist John Doerr and his wife, Ann, the university announced Tuesday. The gift, one of the largest single donations to an American institute of higher education, will open the Stanford Doerr…
Airbus said Wednesday that its profit in the first three months of 2022 more than tripled to 1.22 billion euros ($1.28 billion), helped by an increase in aircraft deliveries as airlines recover from the worst of the pandemic. Airbus said it plans to speed up production of its A320 family of planes that compete with…
(Reuters) – Billionaire Carl Icahn is in talks with Southwest Gas Holdings Inc to reach a truce that could see the activist investor take as many as four seats on the board, Bloomberg News reported on Wednesday, citing people familiar with the matter. Talks are ongoing and the deal could still fall apart ahead of…
