(Reuters) -Citigroup on Monday downgraded U.S. stocks in anticipation of a pullback in growth stocks and a recession in the fourth quarter of the year, while betting on beaten-down counterparts in Europe with an upgrade. The brokerage cut its rating on U.S. stocks to “neutral” from “overweight”, following a strong rally in the first half…
By Aditi Shah and Riddhima Talwani NEW DELHI (Reuters) – Hyundai Motor Co on Monday launched a small sport-utility vehicle (SUV) in India aimed at young car buyers, a move analysts said is an attempt to reclaim share from rivals that have gained ground with new car models. The Exter SUV will be priced from…
By Scott Murdoch and Julie Zhu HONG KONG (Reuters) – Alibaba Group and Tencent shares rose in Hong Kong on Monday as China’s $984 million fine for Ant Group was viewed as signalling the end of a regulatory crackdown on the country’s technology sector. After the penalty on Friday, Jack Ma-founded Alibaba affiliate Ant announced…
By Dawit Endeshaw MEKELLE, Ethiopia (Reuters) – Curled up on a hospital bed in Ethiopia’s northern Tigray region, an emaciated little girl struggles to breathe, as her father softly strokes her gaunt face and her mother sits crying. Tsige Shishay, whose pink sweater reads “beautiful” on the front, is 10 years old but weighs just…
BEIJING (Reuters) – The announcement of a nearly $1 billion fine by Chinese regulators on Ant Group has drawn a line under the fintech giant’s woes and given hope to investors that a regulatory crackdown on China’s broader technology sector is over. Ant’s story so far has been one of a dramatic reversal in fortunes:…
By Seunggyu Lim SEOUL (Reuters) -South Korea’s financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. An official at the Financial Services Commission said it could not confirm the amount…
By Andrew Gray VILNIUS (Reuters) – As NATO nations try to agree on Ukraine’s push for membership at a summit in Vilnius this week, an earlier gathering casts a long shadow. At a summit in Bucharest in April 2008, NATO declared that both Ukraine and Georgia would join the U.S.-led defence alliance – but gave…
LONDON (Reuters) – Russia said on Monday that Ukrainian membership of the NATO military alliance would have very negative consequences for Europe’s security architecture and that Moscow would respond firmly to any such step. Kremlin spokesman Dmitry Peskov was speaking on the eve of a NATO summit in Lithuania aimed at showing solidarity with Ukraine…
By Byron Kaye and Lewis Jackson SYDNEY (Reuters) – The cost of serving up a sandwich with a cup of coffee has hit the roof across Australia’s vaunted cafes, squeezing profits and forcing a wave of closures for those that managed to survive the COVID slump. The A$10 billion ($6.6 billion) Australian cafe industry, the…
BRUSSELS (Reuters) -Ukraine stepped up its efforts to join NATO after Russia invaded last year, arguing that the security assurances given by Moscow, Washington and London when it relinquished its nuclear arsenal to Russia in 1994 were clearly worthless. While eastern European countries say some sort of a road map should be offered to Kyiv…
