By Nell Mackenzie LONDON (Reuters) – Odey Asset Management “does not recognise the picture of the firm that has been painted” by allegations of sexual misconduct by Crispin Odey published by media on Thursday, it told investors in a letter seen by Reuters. The letter, dated June 8 and signed by Peter Martin, the company’s…
By Summer Zhen and Samuel Shen HONG KONG (Reuters) – Money managers in China are struggling to lure retail investors, with fundraising by mutual funds in the first five months of the year hitting the lowest in four years and few betting on a near-term rebound, amid diminishing returns and economic challenges. More than 200…
BEIJING/SHANGHAI (Reuters) – China should standardise requirements for electric vehicle (EV) batteries in order to keep its edge over other markets such as the U.S. and Europe in the rapidly growing industry, the country’s former industry minister said on Friday. “Europe and the United States are ramping up efforts to develop local battery makers, while…
(Reuters) -French software provider Dassault Systemes on Friday forecast a doubling of its earnings per share (EPS) by 2028, and announced a new CEO. Dassault said it plans to reach non-IFRS EPS between 2.20 euros and 2.40 euros by 2028, roughly double the 1.13 euros it posted for the full year of 2022. The group…
By Saqib Iqbal Ahmed NEW YORK (Reuters) – U.S. stocks have defied fears of a recession, a banking crisis and soaring Treasury yields to rise 20% from their October lows – one definition of a bull market. The benchmark S&P 500 index closed at a low of 3,577.03 on Oct. 12, 2022, down 25% from…
By Emma-Victoria Farr BERLIN (Reuters) -Reality star Kim Kardashian’s arrival at a gathering of the globe’s top deal brokers in Berlin failed to dispel their dark mood as the rising cost of money puts the brakes on the private equity industry. Flanked by bodyguards, Kardashian drew a crowd of hundreds of executives at the SuperReturn…
By Foo Yun Chee BRUSSELS (Reuters) – Meta Platforms’ Instagram, Alphabet’s YouTube, TikTok and Twitter could face regulatory action after European consumer group BEUC complained to the European Commission and consumer authorities that the online platforms allegedly facilitate the misleading promotion of crypto assets. U.S. regulators suing crypto platforms Coinbase and Binance, along with last…
By Selena Li and Engen Tham HONG KONG/SHANGHAI (Reuters) -Credit Suisse and a joint venture partner are seeking buyers for their China securities brokerage business due to the Swiss bank’s takeover by rival UBS, said two people with direct knowledge of the matter. Citigroup had at one point shown interest in acquiring Credit Suisse Securities…
A look at the day ahead in European and global markets from Kevin Buckland Another day, another market-positive appointment from Turkish President Tayyip Erdogan, and yet, another record low for the lira. Erdogan is making all the right noises to signal a return to more orthodox policy, picking U.S. banking executive Hafize Gaye Erkan as…
By Joe Cash BEIJING (Reuters) – China’s factory gate prices fell at the fastest pace in seven years in May and quicker than forecasts, as faltering demand weighed on a slowing manufacturing sector and cast a cloud over the fragile economic recovery. As rising interests rates and inflation squeeze demand in the United States and…
