By Xinghui Kok (Reuters) – Growth in the developing economies of East Asia and the Pacific will accelerate in 2023 thanks to China’s reopening and economic rebound, but high inflation and household debt will weigh on consumption in some countries, the World Bank said on Friday. The Washington-based lender in a report said it expected…
By Sudarshan Varadhan SINGAPORE (Reuters) – Oil prices climbed in early Asian trade on Friday as sentiment was boosted by an expansion in factory activity in China, the world’s second largest crude consumer, and as concerns grew about Middle Eastern supply. Brent futures, which have risen nearly 6% this week, were up 15 cents, or…
By Twinnie Siu and Scott Murdoch (Reuters) -E-commerce firm JD.com Inc is planning to spin off its property and industrial units and list them on the Hong Kong stock exchange in deals worth $1 billion each, two people with direct knowledge said on Friday. The plan marks the latest revamp in the Chinese technology sector…
By Lananh Nguyen and Jaiveer Shekhawat (Reuters) -Citigroup Inc hired Andy Sieg to lead its global wealth arm, the lender said on Thursday, from Bank of America Corp, where he led the Merrill Wealth Management unit. Sieg has “a track record of driving growth” and “deep experience in the U.S.,” where Citi aims to grow,…
(Reuters) – Former U.S. President Donald Trump faces more than 30 counts related to business fraud in an indictment by a Manhattan grand jury investigating hush money payments to a porn star, CNN reported on Thursday, citing sources and without providing further details. (Reporting by Costas Pitas in Los Angeles; Editing by Eric Beech)
By Katherine Masters NEW YORK (Reuters) – Activist shareholder platform Tulipshare is calling on Nike to offer more transparency on working conditions in its supply chain. In a shareholder proposal released Thursday, London-based Tulipshare requested a report from Nike on whether its policies effectively address its stated equity goals and human rights commitments. The group,…
By Saqib Iqbal Ahmed (Reuters) -A nearly $15 billion JP Morgan fund is expected to reset its options positions on Friday, potentially adding to equity volatility at the end of a strong quarter for U.S. stocks. Analysts have in the past pointed to the JPMorgan Hedged Equity Fund’s quarterly reset roiling markets, and see it…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rose on Thursday as technology-related shares extended their recent strong run, while regional U.S. bank shares fell as the Biden administration proposed stronger measures to help reduce risk. The S&P 500 technology index was up 1.1% and gave the S&P 500 its biggest boost, while the…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Asian markets go into the final trading day of the quarter in a buoyant mood, ready to face Friday’s barrowload of regional economic data with a sense of optimism and resilience that would barely have been believable a…
By Mike Scarcella (Reuters) – A U.S. court has sanctioned Google LLC for a second time in recent days, after a judge in a decision unsealed on Wednesday said the Alphabet Inc unit took too long to comply with a ruling last year in a data-privacy class action. The order from U.S. Magistrate Judge Susan…
