By Wayne Cole SYDNEY (Reuters) – Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China’s borders bolstered the outlook for the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 2.0% to a five-month top, with South Korean shares gaining 2.2%. Chinese blue chips…
By Jamie McGeever ORLANDO, Fla. (Reuters) – Hedge funds have started 2023 betting that U.S. interest rates are close to peaking, that the Federal Reserve will keep them higher for longer and that the dollar will weaken slightly. Judging by the economic data, financial market swings and talk from U.S. policymakers in the first week…
(Reuters) -Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul. Hong Kong-listed shares of Ma’s Alibaba jumped more than 5%. Shares of Longshine Technology Group Co Ltd, Jilin Zhengyuan, Shanghai…
By Wayne Cole SYDNEY (Reuters) – Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China’s borders bolstered the outlook for the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.5% to a five-month top, with South Korean shares gaining 2.1%. Chinese blue chips…
(Reuters) – Goldman Sachs Group Inc will start its biggest round of job cuts ever, as it locks in on a plan to eliminate about 3,200 positions this week, Bloomberg News reported on Sunday. The financial services major is expected to begin the process mid-week and the total number of people affected will not exceed…
By Howard Schneider NEW ORLEANS (Reuters) – The Federal Reserve’s effort to shock the economy back to lower inflation is in its early days, making it tough for the U.S. central bank to avoid overdoing it with higher-than-needed interest rates, a top economic adviser in the Obama White House said after a fresh review of…
By P.J. Huffstutter CHICAGO (Reuters) -The American Farm Bureau Federation and machinery manufacturer Deere & Co signed a memorandum of understanding on Sunday that ensures farmers have the right to repair their own farm equipment or go to an independent technician. As the agriculture sector accelerates its adoption of technology, the reliance on high-tech machinery…
By Valentine Hilaire PANAMA CITY (Reuters) -Canada-based miner First Quantum would suspend a “significant amount” of jobs at its operations in Panama if the Central American government forces it to halt operations during a contract dispute, the company said in a letter. “If we have to reduce operations to care and maintenance mode, the company…
(Reuters) – China’s fintech giant Ant Group has no plan to initiate an initial public offering (IPO), it said on Sunday in an emailed statement to Reuters. “Ant Group has been focusing on its business rectification and optimisation, and does not have a plan for an IPO,” the company spokesperson said. Ant Group said on…
By Dave Graham MEXICO CITY (Reuters) – North American leaders aim to give new impetus to strengthening economic ties at a meeting this week, even as a major dispute grinds on over Mexico’s energy policies which has distracted from cooperation on other issues like immigration. Mexican President Andres Manuel Lopez Obrador will host his U.S….
