PARIS (Reuters) -Societe Generale, France’s third-biggest listed bank, and U.S. investment management company Alliance Bernstein plan to form a joint venture focusing on global cash equities and equity research, they said on Tuesday. SocGen plans to take a 51% interest in the venture, with an option to take 100% ownership after five years, the French…
BEIJING (AP) — More than 253,000 coronavirus cases have been found in China in the past three weeks and the daily average is rising, the government said Tuesday, adding to pressure on officials who are trying to reduce economic damage by easing controls that confine millions of people to their homes. The ruling Communist Party…
By Rae Wee SINGAPORE (Reuters) – The dollar retreated on Tuesday following an overnight rally that saw investors flocking to the safe-haven currency on worries over China’s COVID flare ups, though cautious risk sentiment kept the greenback supported. The fresh bout of risk aversion had weighed particularly on the antipodean currencies – often used as…
OMAHA, Neb. (AP) — American consumers and nearly every industry will be affected if freight trains grind to a halt next month. One of the biggest rail unions rejected its deal Monday, joining three others that have failed to approve contracts over concerns about demanding schedules and the lack of paid sick time. That raises…
BANGKOK (AP) — Asian shares advanced on Wednesday after solid earnings pushed retailers higher on Wall Street ahead of the Thanksgiving holiday in the U.S. Benchmarks rose in Hong Kong, Seoul and Sydney but fell in Shanghai. Markets were closed in Japan for a holiday. New Zealand’s share benchmark fell 0.9% after the Reserve Bank…
By Selena Li HONG KONG (Reuters) – Asian shares were on the defensive on Tuesday as a COVID-19 resurgence in China increased concerns that Beijing may reimpose strict pandemic curbs and that further restrictions could cause supply chain disruptions. The dollar pulled back from strong overnight gains on Tuesday while oil took a pause from…
By Yousef Saba DUBAI (Reuters) – Dubai’s main airport on Tuesday raised its passenger forecast for this year by nearly two million to 64.3 million people after a strong pick up in business in the third quarter from the same period last year. DXB, a major gateway for international travel, handled nearly 18.5 million passengers…
CANBERRA, Australia (AP) — Australia’s Parliament passed bilateral free trade agreements with India and Britain on Tuesday, leaving those partner nations to bring the deals into force. The deals are crucial for Australia to diversify its exports from the troubled Chinese market to India and to Britain’s need to forge new bilateral trade relations since…
WASHINGTON (Reuters) -Penguin Random House, the world’s largest book publisher, and smaller U.S. rival Simon & Schuster have scrapped a $2.2 billion deal to merge, Penguin owner Bertelsmann announced on Monday. Bertelsmann, a German media group which owns Penguin, initially said it would appeal a U.S. judge’s decision that said its purchase of Simon &…
(Reuters) – Twitter’s new owner Elon Musk said on Monday that the social media company is holding off the relaunch of its blue check subscription service, a delay from his initial tentative timeline to bring back the service on the platform. “Holding off relaunch of Blue Verified until there is high confidence of stopping impersonation,”…
