(Reuters) -Australian fintech company Humm Group said on Friday its unit got an interim stop order from the country’s corporate regulator restricting it from issuing buy-now-pay-later products to new customers, sending the company’s shares down nearly 13%. The interim stop order relates to Australian Securities and Investments Commission’s (ASIC) concerns regarding the target market determination…
By Yuka Obayashi and Mayu Sakoda TOKYO (Reuters) -Nippon Steel Corp is still in talks with Teck Resources, despite Glencore’s bid for the Canadian miner, as Japan’s top steelmaker remains eager to take a stake in Teck’s high-grade coking coal asset, a senior executive said. “We are still negotiating with Teck toward making an equity…
By Aditya Soni (Reuters) -Nvidia Corp surged 24% on Thursday in one of the largest one-day gains in value for a U.S. stock, after its stellar revenue forecast showed that Wall Street has yet to price in the game-changing potential of AI. The surge more than doubled the stock’s value for this year and increased…
By Stella Qiu SYDNEY (Reuters) -Australian retail sales were flat in April as consumers, who face high living costs and rising interest rates, cut back spending on food and dining out, bolstering the case for a pause in rate hikes next month. Data from the Australian Bureau of Statistics (ABS) on Friday showed retail sales…
By Vivek Mishra and Shaloo Shrivastava BENGALURU (Reuters) – India’s economy will grow about 6% this fiscal year with a small increase in private investment, according to a Reuters poll of economists who said lower growth and high inflation were the biggest risks to the outlook. While that was expected to be faster than other…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki said on Friday after the yen fell to a six-month low against the dollar that currency rates should be set by markets based on economic fundamentals. “Currency rates should be determined by markets based on fundamentals,” Suzuki told a news conference after…
By Sinéad Carew and Stephen Nellis NEW YORK/SAN FRANCISCO (Reuters) – The Philadelphia semiconductor index hit its highest level in more than a year on Thursday and eyed its biggest one-day percentage gain in six months with artificial intelligence (AI) taking center stage after Nvidia Corp wowed investors with financial targets that blew past analyst…
By David Lawder and Liz Lee DETROIT/BEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao traded barbs on trade, investment and export policies in talks on Thursday described by Raimondo’s office as “candid and substantive.” Their meeting in Washington was the first U.S.-China cabinet-level exchange in months, after a string of…
NEW YORK (Reuters) – The New York City Banking Commission voted to halt deposits into the city’s bank accounts at Capital One and KeyBank after the lenders failed to submit plans on their efforts to root out discrimination. City Comptroller Brad Lander joined Mayor Eric Adams and the department of finance to announce the city…
By Nupur Anand (Reuters) -JPMorgan Chase & Co has notified nearly 1,000 First Republic Bank employees that they will no longer have a job as it integrates the failed lender it bought earlier this month, a person familiar with the matter told Reuters on Thursday. JPMorgan, the largest U.S. bank, has offered employment to about…
