SHANGHAI (Reuters) -China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID cases. The People’s Bank of China (PBOC) is walking a tight rope…
SHANGHAI (Reuters) -China cut its benchmark lending rate and lowered the mortgage reference by a bigger margin on Monday, adding to last week’s easing measures, as Beijing boosts efforts to revive an economy hobbled by a property crisis and a resurgence of COVID cases. The one-year loan prime rate (LPR) was lowered by 5 basis…
SHANGHAI (Reuters) – China cut its benchmark lending rates on Monday, adding to easing measures announced last week, as Beijing steps up efforts to spur credit demand in an economy hobbled by a property crisis and a resurgence of COVID infections. The one-year loan prime rate (LPR) was lowered by 5 basis points to 3.65%…
By Wayne Cole SYDNEY (Reuters) – Asian shares got off to a rocky start on Monday while the dollar remained in demand amid concerns most major central banks are committed to raising interest rates no matter the risks to growth. Federal Reserve Chair Jerome Powell headlines a host of policy makers at Jackson Hole later…
SHANGHAI (Reuters) -China is widely expected to lower its benchmark lending rates on Monday, a Reuters survey showed, with a vast majority of participants predicting a deeper cut to the mortgage reference to lift the ailing property sector and the overall economy. The loan prime rate (LPR), which banks normally charge their best clients, is…
(Reuters) – Australian casino operator Star Entertainment Group swung to an annual loss on Monday, hurt by long spells of COVID-19-led property and border closures, regulatory reviews and compliance costs. The country’s second biggest casino operator said its net loss after tax attributable was A$198.6 million ($136.48) million, compared with a profit of A$57.9 million…
(Reuters) – A jury in Gerogia has returned a $1.7 billion verdict against Ford Motor Co involving a pickup truck crash that claimed the lives of a couple, the AP reported on Sunday. James Butler Jr., lawyer for the Georgia couple Melvin and Voncile Hill who were killed in April 2014 in the rollover wreck…
(Reuters) – A look at the day ahead in Asian markets from Jamie McGeever Asia’s corporate and macro calendars are remarkably light on Monday, allowing investors to look squarely toward three regional central bank policy decisions later in the week, and more importantly, Jackson Hole. Federal Reserve Chair Jerome Powell will deliver his keynote address…
By Casey Hall and Mimosa Spencer SHANGHAI/PARIS (Reuters) – From $300 bucket hats to $900 sneakers and $700 t-shirts, the high-flying luxury sector is fretting over the appetite among financially stretched Gen Z consumers for such “aspirational” purchases. Executives are troubled in particular by a hit to young Chinese shoppers, not only because mainland China…
HONG KONG (Reuters) – Casino operator MGM China Holding said it will inject 4.8 billion patacas ($594 million) into its MGM Grande Paradise unit as it prepares to re-tender for a licence to operate its gaming business in Macau. Under the terms of a revised gaming law released by Macau’s legislature earlier this year, a…
