SHANGHAI/SINGAPORE (Reuters) – Yield differentials between China and the U.S. widened to their highest in 16 years on Wednesday, as investors speculated that China’s central bank would ease monetary policy further after a surprise rate cut, even if it puts the yuan under pressure. The People’s Bank of China (PBOC) unexpectedly cut key policy rates…
BEIJING (Reuters) – Boeing named Alvin Liu head of its China unit on Wednesday, picking a Chinese-born representative recently hired from the auto industry as the aircraft maker grapples with a drought in U.S. imports to the crucial aviation market. Both Boeing and Airbus SE now have top executives in China who were born in…
AMSTERDAM (Reuters) – The Dutch economy has entered a recession as it shrank 0.3% on a quarterly basis in the second quarter, a first estimate published by Statistics Netherlands on Wednesday showed. The euro zone’s fifth largest economy shrank for the second consecutive quarter, after a 0.4% contraction in the first three months of the…
By Rachel Savage JOHANNESBURG (Reuters) – The development bank founded by the so-called BRICS countries closed the auction for its first South African rand bonds on Tuesday, as it comes under pressure to boost its local currency fundraising and lending. The New Development Bank’s (NDB) two bonds, a 1 billion rand ($52.3 million) five-year note…
By Orathai Sriring and Kitiphong Thaichareon BANGKOK (Reuters) – Thailand’s current level of the benchmark interest rate was nearly balanced, the central bank governor said on Wednesday, adding that monetary policy would not be affected by a delay in the formation of a new government. The Bank of Thailand (BOT) has raised its key rate…
(Reuters) -Australia’s corporate regulator said on Wednesday it had asked the country’s general insurers to improve their claims handling practices and resources after it found issues in multiple areas in a review. The Australian Securities and Investments Commission (ASIC) has commenced several investigations related to claims handling practices after its review of more than 218,000…
By Naveen Thukral SINGAPORE (Reuters) -Vietnamese exporters have renegotiated higher prices for around half a million metric tons of rice, two trade sources said, as global prices climbed to 15-year highs following India’s ban on overseas sales last month. This is the first confirmation of rice prices climbing in the wake of India’s surprise ban,…
(Reuters) – Intel said on Wednesday it has terminated its plans to acquire Israeli contract chipmaker Tower Semiconductor as it was unable to get timely regulatory approvals for the $5.4 billion deal. Intel, which signed a deal to buy Tower last year, will pay a termination fee of $353 million to the latter, according to…
By Jack Queen (Reuters) -Donald Trump is likely to claim that his right to free speech and genuine concerns about voter fraud protect him from charges that he pressured Georgia officials to change the results of the 2020 election in his favor. But legal experts say the case appears to be a straightforward fraud prosecution…
By Phuong Nguyen and Francesco Guarascio HANOI (Reuters) – Vietnam’s EV champion VinFast has managed to sell Wall Street on a Nasdaq listing that values the loss-making startup at more than $85 billion, almost twice as much as Ford or General Motors. Now comes the hard part: moving overseas growth out of the slow lane….
