HONG KONG (AP) — The company that assembles Apple Inc.’s iPhones has announced it is easing COVID-19 restrictions at its largest factory in China that led thousands of workers to quit and drastically slowed production. Foxconn Technology Group said in a statement on one of its official WeChat social media accounts that it would end…
LONDON (AP) — Britain’s central bank on Thursday raised its key interest rate again but toned down the pace as inflation shows signs of easing, mirroring action by the U.S. Federal Reserve and European policymakers. The Bank of England raised the benchmark rate by half a percentage point, to 3.5%, the highest level in 14…
FRANKFURT, Germany (AP) — The European Central Bank slowed its record pace of interest rate increases slightly Thursday but promised that more hikes are on the way, joining the U.S. Federal Reserve and other central banks in reinforcing an inflation crackdown despite some recent headway against the high prices that are plaguing consumers. The ECB,…
LONDON (Reuters) – Britain’s biggest domestic bank Lloyds has hired ING’s technology chief to run its operations, Lloyds said on Thursday. Ron van Kemenade will join Lloyds as group chief operating officer in June next year, the British bank said. Van Kemenade will be charged with helping Lloyds CEO Charlie Nunn deliver his strategy to…
LONDON (Reuters) – Britain’s biggest domestic bank Lloyds has hired ING’s technology chief to run its operations, Lloyds said on Thursday. Ron van Kemenade will join Lloyds as group chief operating officer in June next year, the British bank said. Van Kemenade will be charged with helping Lloyds CEO Charlie Nunn deliver his strategy to…
By Selena Li HONG KONG (Reuters) – The Hong Kong government has named Julia Leung as new head of the Securities and Futures Commission (SFC), becoming the first female chief of the territory’s securities regulator. Leung, currently deputy chief and head of the intermediaries division at the 33-year-old SFC, will succeed Ashley Alder when his…
By Xie Yu SINGAPORE (Reuters) -Citigroup Inc will wind down its consumer banking business in China in a move that will affect about 1,200 local employees, the bank said on Thursday. The group had announced plans in April 2021 to exit its Chinese consumer banking business as part of a global strategy to withdraw from…
By Stine Jacobsen COPENHAGEN (Reuters) -Shares in H&M, the world’s second-biggest fashion retailer, fell 4.5% in early Thursday trade as a 10% rise in net sales in the September-November quarter failed to match a recent pick up in some analysts’ expectations. H&M, which has struggled to keep up with bigger rival Zara, last month became…
By Stine Jacobsen COPENHAGEN (Reuters) -H&M, the world’s second-biggest fashion retailer, reported on Thursday a 10% increase year-on-year in September-November net sales, slightly exceeding market expectations of a 9.5% rise. H&M, which has struggled to keep up with bigger rival Zara, last month became the first big European retailer to lay off staff in response…
HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) said on Thursday it would raise its base rate charged through the overnight discount window by 50 basis points to 4.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. The U.S. central bank raised interest rates by half a percentage…
