ZURICH(Reuters) – The Swiss National Bank posted an annual loss of 132 billion Swiss francs ($142.67 billion) in 2022, it said on Monday, the biggest loss in its 115-year history. The central bank plunged into the red as falling stock and fixed-income markets hit the value of its share and bond portfolio, while the appreciation…
(Reuters) -China’s stock regulator is set to stop local companies in certain sectors from listing on the country’s main stock exchanges, the Financial Times reported on Monday, citing two capital markets bankers familiar with the matter. The China Securities Regulatory Commission (CSRC) has informed bankers it has given some industries, including food and beverage and…
By Wayne Cole SYDNEY (Reuters) – Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China’s borders bolstered the outlook for the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 2.0% to a five-month top, with South Korean shares gaining 2.2%. Chinese blue chips…
By Jamie McGeever ORLANDO, Fla. (Reuters) – Hedge funds have started 2023 betting that U.S. interest rates are close to peaking, that the Federal Reserve will keep them higher for longer and that the dollar will weaken slightly. Judging by the economic data, financial market swings and talk from U.S. policymakers in the first week…
(Reuters) -Shares of listed Chinese companies that count Ant Group as a major shareholder rose on Monday after announcements that Ant founder Jack Ma is giving up control of the fintech giant following an overhaul. Hong Kong-listed shares of Ma’s Alibaba jumped more than 5%. Shares of Longshine Technology Group Co Ltd, Jilin Zhengyuan, Shanghai…
By Wayne Cole SYDNEY (Reuters) – Asian shares rallied on Monday as hopes for less aggressive U.S. rate hikes and the opening of China’s borders bolstered the outlook for the global economy. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.5% to a five-month top, with South Korean shares gaining 2.1%. Chinese blue chips…
(Reuters) – Goldman Sachs Group Inc will start its biggest round of job cuts ever, as it locks in on a plan to eliminate about 3,200 positions this week, Bloomberg News reported on Sunday. The financial services major is expected to begin the process mid-week and the total number of people affected will not exceed…
By Howard Schneider NEW ORLEANS (Reuters) – The Federal Reserve’s effort to shock the economy back to lower inflation is in its early days, making it tough for the U.S. central bank to avoid overdoing it with higher-than-needed interest rates, a top economic adviser in the Obama White House said after a fresh review of…
By P.J. Huffstutter CHICAGO (Reuters) -The American Farm Bureau Federation and machinery manufacturer Deere & Co signed a memorandum of understanding on Sunday that ensures farmers have the right to repair their own farm equipment or go to an independent technician. As the agriculture sector accelerates its adoption of technology, the reliance on high-tech machinery…
By Valentine Hilaire PANAMA CITY (Reuters) -Canada-based miner First Quantum would suspend a “significant amount” of jobs at its operations in Panama if the Central American government forces it to halt operations during a contract dispute, the company said in a letter. “If we have to reduce operations to care and maintenance mode, the company…
