BEIJING (Reuters) – Bank of China Ltd, China’s fourth-largest lender by assets, has launched a countrywide exercise to reduce the salary gaps among its employees and mid- and high-level managers in response to Beijing’s “common prosperity” drive, three sources with knowledge of the matter said. President Xi Jinping launched the common prosperity drive in 2021…
By Howard Schneider WASHINGTON (Reuters) – Pessimists watching the Federal Reserve battle inflation have focused on the so-called “last-mile” problem, convinced a full return to the U.S. central bank’s 2% inflation target will require a recession and significant job losses to cool ongoing price rises. History is on their side, with academic studies and other…
A look at the day ahead in U.S. and global markets from Mike Dolan A bruising August for bonds continues to unsettle world markets deep into summer holiday season, with China’s ailing property sector whacking stocks there on Monday and a buoyant dollar hitting many currencies – especially Russia’s rouble. With seasonal trading volumes so…
By Jack Queen (Reuters) -Lawyers for Hunter Biden said in a late Sunday court filing that prosecutors reneged on a plea deal that would have resolved tax and firearms charges against the U.S. president’s son as his father seeks reelection. Delaware federal prosecutors said on Friday that Hunter Biden may be headed for a criminal…
(Reuters) – Retail investors who lost money when Credit Suisse was taken over by UBS in March plan to file a lawsuit challenging the buyout, the Financial Times reported on Sunday. The Swiss Investor Protection Association plans to file the claim in Zurich’s commercial court on Monday on behalf of about 500 Credit Suisse equity…
By Joseph Ax (Reuters) – A Georgia prosecutor probing whether Donald Trump and his allies illegally sought to overturn the state’s 2020 election results is expected to seek an indictment from a grand jury next week. Two witnesses who previously received subpoenas confirmed on Saturday that they have been told to appear before a grand…
By Dan Williams JERUSALEM (Reuters) – Prime Minister Benjamin Netanyahu has offered Israeli military reservists protesting against his judicial overhaul plan a nominal olive branch, cooling his earlier censure of them as concerns for the country’s war-readiness mount. Protest leaders say thousands of reservists have stopped reporting for duty. Among them are hundreds of air…
TAIPEI (Reuters) -Taiwan will not be afraid nor back down in the face of authoritarian threats, the island’s vice president told supporters on a U.S. visit that Beijing has condemned, while reiterating a willingness to talk to China. William Lai, also frontrunner to be Taiwan’s next president at January elections, is in the United States…
The Russian rouble fell past the psychologically key 100 per U.S. dollar threshold for the first time since March last year on Monday. President Vladimir Putin’s economic advisor said Russia was interested in a strong rouble and that loose monetary policy was the main reason behind the currency’s weakness. It has lost around 30% versus…
BERLIN (Reuters) – Daimler Truck on Monday said that management board chairman Martin Daum would take over as chief financial officer on an interim basis after the sudden death of Jochen Goetz. The company added that the search for a new CFO had been initiated by the supervisory board. Daimler Truck had announced earlier this…
