By David Stanway and Roxanne Liu SHANGHAI/BEIJING (Reuters) – Shanghai took further gradual steps on Friday toward lifting its COVID-19 lockdown while Beijing was investigating cases where its strict curbs were affecting other medical treatments as China continues its uneven exit from restrictions. The financial hub and the capital have been hot spots, with a…
NEW YORK (Reuters) – Billionaire Elon Musk was sued by Twitter Inc investors claiming he manipulated the company’s stock price downward, as the chief executive of electric carmaker Tesla Inc mounts a $44 billion takeover bid for the social media platform. The investors said Musk saved himself $156 million by failing to disclose that he…
WELLINGTON, New Zealand (AP) — The United States on Friday won the latest round of a legal battle to seize a $325-million Russian-owned superyacht in Fiji, with the case now appearing headed for the Pacific nation’s top court. The case has highlighted the thorny legal ground the U.S. finds itself on as it tries to…
By Scott Murdoch HONG KONG (Reuters) – Hong Kong’s central bank plans to hold a major conference in November it hopes will draw global banking bosses, sources said, as the financial hub seeks to welcome back international business following two gruelling years of closed borders. For most chief executives of the world’s major banks, the…
HONG KONG (Reuters) – Hong Kong private home prices reversed a three-month decline in April, the latest official data showed on Friday, as the financial hub stabilised after COVID-related woes and homebuyer sentiment was boosted by waves of new development launches. Prices in what survey company Demographia ranked the world’s most unaffordable housing market, climbed…
TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida said on Friday that his government continued to debate capital gains tax as “one of the issues”. The debate on whether to adopt the taxation has been effectively shelved as investors raised concerns about its potential impact on cooling Japan’s stock market when Kishida floated the idea…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar sank to a one-month low versus major peers on Friday as traders lowered Federal Reserve rate hike expectations amid signs the central bank might slow or even pause its tightening cycle in the second half of the year. The dollar index, which measures the greenback against…
WASHINGTON (Reuters) – Fiji is joining U.S. President Joe Biden’s Indo-Pacific Economic Framework (IPEF), the White House said on Thursday, making it the first Pacific Island country in the plan that is part of a U.S. effort to push back on China’s growing regional influence. The announcement comes as China’s Foreign Minister Wang Yi begins…
By Stephen Culp (Reuters) – Wall Street closed sharply higher on Thursday after optimistic retail earnings outlooks and waning concerns about overly aggressive interest rate hikes by the Federal Reserve put investors in a buying mood. All three major U.S. stock indexes posted solid gains, with economically sensitive consumer discretionary and microchip stocks beating the…
SYDNEY (Reuters) – Australian retail sales climbed to record highs in April as consumers spent big for the holidays, though surging inflation and rising interest rates are steadily sapping spending power. Data from the Australian Bureau of Statistics on Friday showed retail sales rose 0.9% in April to a record A$33.9 billion ($24.09 billion), matching…
