By David Lawder and Andrea Shalal BENGALURU/WASHINGTON (Reuters) -The United States intends to “quickly” nominate a candidate for the World Bank presidency who is committed to the lender’s poverty reduction mission as well as lending reforms to fight climate change and other global challenges, U.S. Treasury Secretary Janet Yellen said on Thursday. At a news…
(Reuters) – Alibaba Group Holding Ltd reported better-than-expected quarterly revenue on Thursday, as the Chinese e-commerce giant benefited from the country easing COVID-19 curbs. The company has weathered a weak economy in China, which only last December lifted its zero-Covid policy after three years. Revenue rose 2% to 247.76 billion yuan ($35.92 billion) for the…
By David Lawder BENGALURU (Reuters) -U.S. Treasury Secretary Janet Yellen said on Thursday the United States would resume discussions with China on economic issues “at an appropriate time” but is continuing to warn Beijing of the consequences of violating U.S. sanctions on Russia. At a news conference ahead of a G20 financial leaders meeting in…
By Tristan Chabba and Anna Mackenzie (Reuters) -Europe’s biggest hotel group Accor on Thursday forecast higher revenue per available room (RevPAR) for 2023 as Chinese travelers are expected to return, after its annual core profit beat expectations on strong December activity. Hotel chains were hit hard by China’s strict pandemic restrictions and are now hoping…
(Reuters) -Switzerland’s biggest bank UBS Group AG is looking to apply for a mutual fund license in China, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The Swiss bank is in informal talks with the China Securities Regulatory Commission (CSRC) about its intention to apply, the report said. UBS plans…
By Tejaswi Marthi (Reuters) – Investors returned to placing bearish bets on all Asian currencies shortly after on the increasing likelihood that the U.S. Federal Reserve would continue hiking rates for longer, helping the dollar regain its lost momentum, a Reuters poll showed on Thursday. Short bets on the Indian rupee firmed further to hit…
By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while…
By Joice Alves LONDON (Reuters) – Europe’s banks, which enjoyed a stellar fourth-quarter that yielded a surge in earnings growth to 15-year highs, are still looking cheap and could have more room to rally. Economic data hasn’t been as bad as many had feared. The euro zone is expected to stagnate rather than contract, while…
By Lawrence White, Iain Withers and Sinead Cruise LONDON (Reuters) – British banks face a tougher battle for mortgage customers and business borrowers in 2023, as rising costs and deposit rates paid to long-suffering savers threaten to outpace flatlining profit margins, senior industry executives and analysts said. The 2022 annual results from the country’s four…
A look at the day ahead in European and global markets from Wayne Cole. After a rather flat Wall St finish, Asian stocks have done better so far on Thursday thanks in part to an earnings beat from chip designer Nvidia Corp. Its stock surged almost 9% after the bell and helped lift Nasdaq futures…
