SHANGHAI/HONG KONG (Reuters) -Online brokerages Futu Holdings Ltd and UP Fintech Holding Ltd will remove apps in mainland China amid Beijing’s sharpened focus on data security and capital outflows, triggering a heavy selloff in their New York-listed shares. Chinese regulators had warned the two firms as early as 2021 that online brokerages not licensed in…
By Andrea Shalal WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen on Tuesday warned that a default on government debt would likely leave millions of Americans without income payments, potentially triggering a recession that could destroy many American jobs and businesses. Yellen told a gathering of community bankers that the unprecedented economic and financial crisis…
(Reuters) – AutoNation Inc named Thomas Szlosek as its chief financial officer, effective on or about Aug. 7, the auto retailer said on Tuesday. Szlosek will move from medical product maker Avantor Inc, where he is currently finance chief. AutoNation’s current CFO Joe Lower will transition to a newly created role where he will oversee…
By Hyunjoo Jin and Tanya Jain (Reuters) – Tesla Inc CEO Elon Musk will be under pressure to address investor concerns about the lack of a clear successor, softening demand and delays of some new models when he speaks at the electric-car maker’s annual shareholder meeting on Tuesday. The billionaire entrepreneur, also the top boss…
By Deborah Mary Sophia (Reuters) -Home Depot Inc on Tuesday cut its annual sales forecast and projected a steeper-than-expected decline in profit, stoking fears about inflation-wary consumers trimming discretionary spending as a big earnings week for U.S. retailers rolls out. Shares of the largest U.S. home improvement chain, which also blamed a wet start to…
By Erwin Seba HOUSTON (Reuters) – U.S. oil refiners aim to run at up to 94% of a total 17.9 million barrels per day processing capacity this quarter, according to company forecasts and analysts, driven in part by expectations of seasonal travel demand. Strong prices and demand since late 2021 have encouraged refiners to run…
By Michael S. Derby NEW YORK (Reuters) – Leaders of factory and service sector firms in the New York Fed’s district said access to credit has been mostly stable in May over the last three months, but a number saw tougher times ahead. The bank said Tuesday in its latest Business Leaders Survey for May…
WASHINGTON (Reuters) – Treasury Secretary Janet Yellen on Tuesday warned that a U.S. default on government debt would leave millions of Americans without income payments, potentially triggering a recession that destroys many American jobs and businesses. Yellen told a gathering of community bankers that the unprecedented economic and financial crisis would be exacerbated by possible…
By Renee Maltezou HERAKLION, Greece (Reuters) – Greek Prime Minister Kyriakos Mitsotakis told Reuters in an interview that he had learned to be bold on economic reform as he seeks re-election in a country that was once the euro zone’s problem child. The leader of the conservative New Democracy party hopes to win a second…
TOKYO (Reuters) – Japan’s government on Tuesday has approved an increase in household electricity rates of made by seven major utilities after delays in examining their requests as the government sought to address record high inflation. The hikes, ranging from 14% to 42% to reflect higher fuel costs, will add pressures on the world’s third-biggest…
