BEIJING (Reuters) – China needs to step up measures as soon as possible to bolster a faltering post-COVID recovery in the world’s second-largest economy, a senior economic official with the country’s top political advisory body said on Sunday. Analysts at major international banks have downgraded economic growth forecasts for 2023 after May data showed demand…
By Lewis Krauskopf NEW YORK (Reuters) -Some Wall Street banks are sounding caution on the U.S. stock rally, warning that stretched valuations have made equities more vulnerable to declines. The S&P 500 pulled back for the week though it is up more than 13% since the year began, fueled by signs of moderating inflation, excitement…
HONG KONG (Reuters) – Hong Kong plans to “fine-tune” the maximum size of mortgages available to first-time homebuyers, Financial Secretary Paul Chan said in a radio interview on Sunday. Chan told Commercial Radio Hong Kong that residents want to upgrade homes after starting families so the government is discussing with the de facto central bank…
By Lewis Jackson SYDNEY (Reuters) -PwC Australia on Sunday entered an exclusivity agreement with private equity firm Allegro Funds to sell its government practice for A$1 as it brought in an executive from Singapore to lead its local firm through the fallout from a national scandal. The scandal, which broke in January, revolves around a…
(Reuters) – Heavily armed Russian mercenaries who advanced most of the way to Moscow began turning back on Saturday, de-escalating a major challenge to President Vladimir Putin’s grip on power, in a move their leader said would avoid bloodshed. Here are reactions from investors and analysts: QUINCY KROSBY, CHIEF GLOBAL STRATEGIST AT LPL FINANCIAL: “Markets…
(This June 22 story has been corrected to fix the amount of museum donations to be returned to $550,000, not $550 million, in paragraph 13) By Dietrich Knauth NEW YORK (Reuters) – Bankrupt crypto exchange FTX on Thursday sued a former aide to Hillary Clinton and the former aide’s investment firm, seeking to claw back…
By Polina Devitt and Dmitry Zhdannikov LONDON (Reuters) – Following are facts about oil, gas and grains flows in Russia’s southern region of Rostov, where the capital Rostov-on-Don was seized by Russian mercenaries. President Vladimir Putin vowed on Saturday to crush what he called an armed mutiny after rebellious mercenary chief Yevgeny Prigozhin said he…
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators said on Saturday they are investigating Ford Motor’s prior recalls of 710,000 Explorer SUVs over power loss reports to determine if the fix is adequate. The National Highway Traffic Safety Administration (NHTSA) noted the No. 2 U.S. automaker issued recalls in April 2022 and March on…
(Reuters) – Brazilian President Luiz Inacio Lula da Silva on Saturday urged the European Union and the Mercosur to set aside arrogance and negotiate the long-awaited trade agreement between the blocs with common sense. “It’s important to remember that we need the EU and they need us very much. So it’s important that we put…
By Daniel Leussink, Norihiko Shirouzu and Maki Shiraki TOKYO (Reuters) – Nissan has launched an investigation into claims by a senior adviser that Chief Executive Makoto Uchida carried out surveillance of his deputy Ashwani Gupta, four people with direct knowledge of the matter said. The surveillance claims, first reported by the Financial Times, were made…
