By Clare Jim HONG KONG (Reuters) – Cash-strapped Chinese developer Kaisa Group said a lockdown in Shenzhen had meant audit work has not been completed and it would not be able to publish its financial results by March 31, sending its shares tumbling. Due to the delay, its shares will be suspended from trade from…
By Sonali Paul MELBOURNE (Reuters) – Oil prices turned higher on Wednesday, erasing losses from the previous session, after industry data showed U.S. crude stocks fell last week, underlining how tight global supplies are amid the hit to Russian output from economic sanctions on Moscow. Brent crude futures climbed $1.06, or 0.9%, to $116.54 a…
By Shariq Khan (Reuters) – U.S. cannabis producer Cresco Labs Inc is in advanced talks to buy rival Columbia Care Inc for around $2 billion, three people familiar with the matter said on Tuesday. If a deal is finalised it would be one of the largest in the U.S. cannabis industry to date. The industry,…
HONG KONG/BEIJING (Reuters) – Chinese regulators have asked some of the country’s U.S.-listed firms, including Alibaba, Baidu and JD.com, to prepare for more audit disclosures, sources said, as Beijing steps up efforts to ensure domestic companies remain listed in New York. This comes as China’s regulators are considering a proposal to allow their U.S. counterparts…
The United States has agreed to lift tariffs on British steel and aluminum, mending a rift between allies that dates back to the Trump administration. At a meeting Tuesday in Baltimore, the U.S. and the U.K. announced a deal that would remove taxes on British steel and aluminum that comes in below new quotas on…
BEIJING (AP) — The crash of a Boeing 737-800 passenger jet in China’s southwest started a fire big enough to be seen from space and forced rescuers to search a rugged, remote mountainside. One day after the China Eastern Airlines flight plunged from the sky, there are more questions than answers. ___ WHAT CAUSED THE…
(Reuters) -Apple Inc’s Apple Music, mobile App Store and Podcasts resumed services on Tuesday, after facing outages for a second consecutive day, according to the company’s system status page. Tuesday’s outage also affected Mac App Store, users of Apple Card, Apple Books, iCloud Web Apps and Weather. The outage on Monday affected 11 of Apple’s…
By Lindsay Dunsmuir and Ann Saphir (Reuters) -Federal Reserve officials are helping shape market expectations for sharper interest-rate hikes to curb the surge in inflation, but have not managed to dispel fears the tightening cycle could blow a hole in the economy and labor market. “The Fed needs to move aggressively to keep inflation under…
MEXICO CITY (Reuters) – Mexican banking institution Banorte will invite Mexicans to “recover” Citigroup’s retail unit in the country, which is set to go up for sale in coming months, if Banorte decides to go forward with the purchase, the bank said in a statement on Tuesday. Mexican President Andres Manuel Lopez Obrador said in…
By Nelson Renteria SAN SALVADOR (Reuters) – El Salvador postponed an unprecedented issue of a bitcoin-backed bond planned for last week, as the government decided to wait for favorable conditions in the financial market, Finance Minister Alejandro Zelaya said on Tuesday. The Central American government had scheduled the launch of the $1 billion bond between…
