By Marie Mannes, John O’Donnell and Chiara Elisei STOCKHOLM/LONDON/FRANKFURT (Reuters) – For hundreds of thousands of ordinary Swedes, investing in one of their country’s biggest landlords SBB was a sure bet for years. Now it is at the epicentre of a property crash that threatens to engulf the Nordic state’s economy. On Friday, the heavily-indebted…
By Pratima Desai and Siyi Liu LONDON/BEIJING (Reuters) -The Shanghai Futures Exchange (ShFE) is looking to expand its commodities warehousing network outside China, and is examining systems and regulations in the sector overseas, three sources with direct knowledge of the matter told Reuters. China’s dominant commodities bourse has a domestic network of 216 storage facilities…
(Reuters) -Domino’s Pizza Group said on Thursday Andrew Rennie, who has served as the Europe chief for a major franchise operator of the pizza chain, will join the UK firm in August as its chief executive. Rennie will take over from Elias Diaz Sese, who has been serving as Domino’s Pizza Group’s (DPG) interim CEO…
(Reuters) -Walt Disney’s board on Wednesday extended Chief Executive Officer Robert Iger’s contract by two years as the experienced leader who came out of retirement in 2022 battles long-term challenges to its film and television businesses. The board said in a statement that it aimed to maintain “continuity of leadership during the company’s ongoing transformation.”…
By Kevin Yao BEIJING (Reuters) – China’s economy likely grew 7.3% in the second quarter from a year earlier due to a low base, but momentum is rapidly faltering, a Reuters poll showed, raising expectations Beijing will have to roll out more stimulus measures soon. While the reading will be heavily skewed by economic pains…
By Byron Kaye SYDNEY (Reuters) – The CEOs of Australia’s two biggest banks said on Thursday a tight labour market was keeping late home loan repayments below historic levels even after a year of rising interest rates, but warned that living costs would squeeze the economy through 2023. The updates from Commonwealth Bank of Australia…
By Ananya Mariam Rajesh, Granth Vanaik and Arriana McLymore (Reuters) -Amazon.com’s Prime Day two-day shopping event saw U.S. online sales rise nearly 6% to $6.4 billion from a year ago on its first day, as heavy discounts lured bargain-hunting customers who splurged on appliances and toys, Adobe Analytics data on Wednesday showed. U.S. shoppers have…
(Reuters) – J.P.Morgan and Goldman Sachs said on Wednesday they now expect the Bank of Canada (BoC) to deliver one last 25-basis point rate hike in October and lifted their terminal rate forecast to 5.25%. The revised forecast came after the BoC hiked its key overnight rate by a quarter of a percentage point on…
(Reuters) -Carlyle Group Inc and Trustar Capital are planning to raise $4 billion from wealth funds to buy part of their stakes in McDonald’s Corp operations in Hong Kong and mainland China, Bloomberg News reported. The move would provide a partial exit for the buyout firms after they bought the business six years ago, according…
By Samuel Shen and Tom Westbrook (Reuters) – Qingdao city in China’s debt-laden Shandong province has set up a company to bail out its cash-strapped local government financing vehicles (LGFVs), sources said, as regional governments rush to reduce debt risks in a wobbly economy. Dongdin Industrial Group, funded by policy lender China Development Bank and…
