By Selena Li and Engen Tham HONG KONG/SHANGHAI (Reuters) -Credit Suisse and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss bank’s takeover by rival UBS, said two people with direct knowledge of the matter. Citigroup had at one point shown interest in acquiring Credit Suisse Securities…
A look at the day ahead in European and global markets from Kevin Buckland Another day, another market-positive appointment from Turkish President Tayyip Erdogan, and yet, another record low for the lira. Erdogan is making all the right noises to signal a return to more orthodox policy, picking U.S. banking executive Hafize Gaye Erkan as…
By Joe Cash BEIJING (Reuters) – China’s factory gate prices fell at the fastest pace in seven years in May and quicker than forecasts, as faltering demand weighed on a slowing manufacturing sector and cast a cloud over the fragile economic recovery. As rising interests rates and inflation squeeze demand in the United States and…
By Sudip Kar-Gupta PARIS (Reuters) – Lab-grown meat producer Uncommon said on Friday it had raised $30 million from investors including OpenAI chief executive Sam Altman. The British-based company’s latest funding round was led by Balderton Capital and Lowercarbon Capital. Others investors included Red Alpine, East Alpha, early stage investor Sam Altman, Miray Zaki and…
(Reuters) -Australian banks could face heightened supervisory attention if they make large exceptions in granting home loans to borrowers who fail to meet an industry standard, the country’s prudential regulator warned on Friday. In a letter to banks, the Australian Prudential Regulation Authority (APRA) reiterated its expectations that lenders should extend home loans only if…
By Julie Zhu and Aziz El Yaakoubi HONG KONG/RIYADH (Reuters) – Chinese entrepreneurs and investors are flocking to Riyadh this week to attend a business conference, which will bring together business and government leaders aiming to explore expansion and fundraising opportunities, amid warming diplomatic relations. Saudi Arabia will be hosting the 10th Arab-China Business Conference,…
By Julie Zhu and Aziz El Yaakoubi HONG KONG/RIYADH (Reuters) – Chinese entrepreneurs and investors are flocking to Riyadh this week to attend a business conference, which will bring together business and government leaders aiming to explore expansion and fundraising opportunities, amid warming diplomatic relations. Saudi Arabia will be hosting the 10th Arab-China Business Conference,…
By Patricia Zengerle WASHINGTON (Reuters) – Legislation to strip China of its status as a “developing nation” at some international organizations was passed by a U.S. Senate committee on Thursday, as members of the U.S. focus on competing with the Asian power. The Senate Foreign Relations Committee approved the “Ending China’s Developing Nation Status Act”…
By Stella Qiu SYDNEY (Reuters) – The risk of Australia’s economy slipping into recession has risen sharply, after the central bank surprised markets this week by raising rates and warned it could tighten again to tamp down on high inflation even at the cost of preserving jobs. For a year, Reserve Bank of Australia Governor…
BEIJING (Reuters) -BYD announced on Friday a new brand of electric vehicles (EV) ranging from off-road to sports cars as the company looks to meet more diversified consumer demand. The new brand is called Fang Cheng Bao, which translates from Chinese literally as “Formula” and “Leopard”. The Chinese EV giant is expected to launch the…
