By David Lawder and Kanishka Singh SPRING HILL, Tenn./ WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said on Wednesday she still hoped to visit China but offered no details on plans or timing. A team of U.S. Treasury officials was scheduled to travel to China this month to prepare for a visit by Yellen…
Stockholm (Reuters) -Volvo Cars said on Thursday that 2023 is likely to be another challenging year despite healthy demand for its vehicles as the Swedish carmaker reported a fall in quarterly profit. Volvo Cars, which is majority-owned by Chinese automotive company Geely Holding, said its fourth-quarter operating profit dropped to 3.4 billion crowns ($322.2 million)from…
By Gaurav Dogra (Reuters) – Emerging Asia ex-China stocks received massive inflows in January, with investors expecting the U.S. Federal Reserve to slow down the pace of its rate hikes and as the dollar weakened against regional currencies. Data from stock exchanges in Taiwan, India, the Philippines, Vietnam, Thailand, Indonesia and South Korea showed that…
By Chris Taylor NEW YORK (Reuters) – Sorry to break it to you, but your romantic partner may be sharing a secret relationship. With guess who? JPMorgan Chase. Or Citibank, or Wells Fargo. Whether it is a big purchase, a hidden debt or an unknown account, 39% of us have committed some form of “financial…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -A consortium led by Japan Industrial Partners (JIP) has formally submitted a proposal to Toshiba Corp to take the troubled conglomerate private after securing commitments for 1.4 trillion yen ($10.6 billion) of loans, sources said. Major Japanese banks, including Sumitomo Mitsui Financial Group, had issued letters of…
(Reuters) – Index provider MSCI said on Thursday it had determined that some Adani securities should no longer be designated as free float after market participants raised concerns about the eligibility of the Indian conglomerate’s companies for some of its indexes. Changes for Adani securities associated with its MSCI Global Investable Market Indexes are due…
SINGAPORE (Reuters) – Oil edged up in early trade on Thursday, extending gains for a fourth consecutive day, as crude loading disruptions in Turkey and optimism over China’s recovering demand continued to buoy sentiment. Brent crude futures rose 14 cents, or 0.2% to $85.26 a barrel by 0239 GMT, while U.S. West Texas Intermediate (WTI)…
By Makiko Yamazaki and Ritsuko Shimizu TOKYO (Reuters) -A Japan Industrial Partners-led consortium has secured commitments for 1.4 trillion yen ($10.63 billion) of loans to finance the buyout of Toshiba Corp, two sources said, removing a major hurdle in the group’s long effort to take the troubled conglomerate private. Major Japanese banks, including Sumitomo Mitsui…
WASHINGTON (Reuters) – President Joe Biden said on Wednesday he did not believe the U.S. economy will fall into recession either this year or next year, his most confident prediction on the fate of an economy that is still rattled by fears of a downturn. Asked in an interview on the PBS NewsHour program whether…
By Lananh Nguyen MIAMI (Reuters) -JPMorgan Chase & Co. Chief Executive Jamie Dimon told Reuters on Wednesday that the U.S. economy remained in good shape, but warned “sticky” inflation could prompt the Federal Reserve to raise interest rates above 5%. In a wide-ranging interview with Reuters, Dimon warned of the adverse impact of stricter regulation…
