By Xie Yu HONG KONG (Reuters) -Embattled property developer China Evergrande Group aims to win creditors’ support for its debt restructuring proposals by as early as the end of February, the company’s lawyers said on Monday. Once China’s top-selling developer, Evergrade is now at the centre of the country’s property sector crisis. Its $22.7 billion…
By Rae Wee SINGAPORE (Reuters) – The dollar climbed on Monday as protests against COVID restrictions in China rattled financial markets, sending the yuan sliding and pushing nervous investors toward the safe-haven greenback. The COVID protests have flared across China and spread to several cities in the wake of a deadly fire in Urumqi in…
By Scott Murdoch SYDNEY (Reuters) – Stocks and oil slid sharply on Monday as rare protests in major Chinese cities against the country’s strict zero-COVID curbs raised worries about management of the virus in the world’s second-largest economy. MSCI’s broadest index of Asia-Pacific shares outside Japan slumped 2.2%, pulled lower by heavy selling in Chinese…
(Reuters) – Collapsed cryptocurrency exchange FTX remains the subject of “an active and ongoing investigation” by Bahamian authorities, Bahamian Attorney General Ryan Pinder said on Sunday, as he praised the Bahamas’ regulatory regime and swiftness with which it responded to the crisis. FTX, which had been among the world’s largest cryptocurrency exchanges, is headquartered in…
By Rachel More and Mathieu Rosemain BERLIN/PARIS (Reuters) -Some workers at Amazon sites in Germany and France downed tools on Black Friday, as part of a move across the world to target the online retailer on one of the busiest shopping days of the year with calls for better pay. The Make Amazon Pay initiative,…
NEW YORK (AP) — The United States’ 0-0 draw against England in the World Cup drew 19.98 million viewers for English- and Spanish-language broadcasts, the third-most watched men’s soccer game on U.S. television. The match, which kicked off at 2 p.m. EST on Friday, was seen by 15,377,000 viewers on Fox, the most for a…
ZURICH (Reuters) – The head of Credit Suisse’s Swiss unit said “some customers have withdrawn some of their money, but very few have actually closed their accounts.” Last week, Switzerland’s second-largest bank said it expects to make a pre-tax loss of up to 1.5 billion Swiss francs ($1.6 billion) during Q4 and revealed that wealthy…
PARIS (Reuters) – The French government made excessive use of consultancy firms in the past and is now striving to correct that, Finance Minister Bruno Le Maire said on Sunday. Emmanuel Macron’s government has come under pressure in recent months for being too dependent on consultancy groups. Financial prosecutors said earlier this week they were…
PARIS (Reuters) – France may try to negotiate some exemptions from the duties and limits imposed by the U.S. anti-inflation act but Europe must act to protect the bloc’s economic interests, Finance Minister Bruno Le Maire said on Sunday. Le Maire will accompany French President Emmanuel Macron on a state visit to the United States…
FRANKFURT (Reuters) – French bank Credit Agricole is weighing plans to offer car-sharing financial services in Germany because the growing market offers opportunities to challenge incumbent players, an executive told trade publication Automobilwoche. The French bank’s consumer finance arm has been in a push to increase mobility-related revenues from its car leasing joint venture with…
