By Clare Jim HONG KONG (Reuters) -Shares of Evergrande Property Services Group shed 50% of their value on Thursday when trading resumed after 16 months, following the release of its financial results and the end of an investigation into misused funds involving its parent. The property services firm was dragged into financial troubles after its…
(Reuters) -A federal jury on Wednesday voted to sentence Robert Bowers to death for killing 11 worshippers at Pittsburgh’s Tree of Life synagogue in 2018, the deadliest antisemitic attack in U.S. history. In June, the jury found Bowers, 50, guilty of dozens of federal hate crimes in a trial held at the U.S. District Court…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Billionaire investor William Ackman on Wednesday said his hedge fund Pershing Square Capital Management has placed a bet against U.S. 30-year Treasuries, calling it both a hedge on the impact of higher long-term rates on stocks and a good standalone bet. “We are short in size the 30-year…
By Milounee Purohit and Anant Chandak BENGALURU (Reuters) – The Indian rupee will trade in a narrow range over the coming three months and then strengthen slightly in a year as the Reserve Bank of India uses its vast foreign exchange reserves to keep the currency stable, a Reuters poll found. Expected volatility in the…
By Simon Lewis and David Brunnstrom WASHINGTON (Reuters) – Mongolia will deepen cooperation with Washington to mine rare earths, the country’s Prime Minister L. Oyun-Erdene said on a visit to Washington on Wednesday, but he warned that a “new Cold War” between the U.S. and China would harm the global economy. Mongolia has extensive deposits…
By Wayne Cole SYDNEY (Reuters) -Australian retail sales volumes fell again in the June quarter as cost of living pressures and rising borrowing costs ate into consumer spending power, hampering economic growth and weakening the case for further interest rate hikes. Data from the Australian Bureau of Statistics on Thursday showed real retail sales fell…
SAO PAULO (Reuters) -South American e-commerce giant MercadoLibre reported a 113% rise in its second-quarter net income on Wednesday to $261.9 million, amid higher sales volume and an increase in users. The company, with a presence in over 18 countries across Latin America, saw its net revenue rise 57.3% in constant currency to $3.4 billion….
BEIJING (Reuters) – China’s services activity expanded at a slightly faster pace in July, supported by a jump in business in the summer travel season, a private-sector business survey showed on Thursday, partly offsetting the drag from the weak manufacturing sector. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 54.1 in July from…
By Makiko Yamazaki TOKYO (Reuters) -Mitsubishi UFJ Financial Group (MUFG) said on Thursday it would invest $936 million in U.S. Bancorp – a move that will help the U.S. regional bank pay back some of the debt it owes the Japanese lender. In return, MUFG’s stake in the fifth largest U.S. bank will rise to…
(Reuters) – Anti-aircraft units were in action against attack drones during a three-hour air raid alert in and around Kyiv on Thursday, the military said, with several explosions reported but no strikes or casualties announced. Kyiv military authorities lifted the alert just after 4 a.m. (0100 GMT). One report by the military said airborne targets…
