By Chiara Elisei LONDON (Reuters) -Holders of credit insurance linked to Credit Suisse bonds will not get a payout after a committee that adjudicates on disputes in the derivatives market said on Wednesday the bank’s state-engineered merger with UBS was not a credit event. The Swiss bank in March was taken over by UBS in…
By Casey Hall SHANGHAI (Reuters) – When graduate student Cai Zhishan decided to spend her Labour Day holidays in northern China, she wished she had enough money to hire a car for the more-than 4,000km (2,500 mile) round trip – the equivalent of driving from New York to Los Angeles. Instead, she chose “travelling like…
By Jamie McGeever ORLANDO, Florida (Reuters) – Long Japan, short China. If there is a general macro, relative value trade playing out right now, it might be that as the contrasting fortunes of Asia’s economic and financial behemoths become starker by the day. China’s economy is rapidly losing steam and investor appetite for Chinese assets…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand is set to deliver what it calls a “no frills” budget on Thursday as falling tax revenues squeeze coffers and inflation risks cap cyclone reconstruction efforts, constraining stimulus as the Labour government faces an election this year. Finance minister Grant Robertson has said the budget will focus…
By Nick Carey and Barbara Lewis LONDON (Reuters) – Tyre-makers are under pressure to almost literally reinvent the wheel as regulators turn their scrutiny to tyre pollution that is set to surge with the rise of electric vehicles (EVs) and threatens to undermine those cars’ green credentials. When tyres make contact with the road,…
By Suleiman Al-Khalidi AMMAN (Reuters) – The International Monetary Fund said on Wednesday Jordan needed to accelerate structural economic reforms to push growth beyond the average 2% to 3% it has struck in recent years to help it generate more jobs to reduce high unemployment. “With unemployment still high, and particularly among the youth and…
By Lisa Richwine LOS ANGELES (Reuters) -Netflix Inc’s recently launched ad-supported tier reaches nearly 5 million active users per month, executives said on Wednesday in a pitch that emphasized the breadth of its programming to potential advertisers. The streaming video pioneer launched a $7-per-month option with commercials last November in 12 markets, including the U.S.,…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks rose sharply on Wednesday, fueled by optimism over a potential deal on the $31.4 trillion federal debt ceiling and as a rebound in regional bank shares eased concerns about an escalation in the sector’s troubles. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on…
By Michael S. Derby NEW YORK (Reuters) – The Federal Reserve’s in-house watchdog defended his agency’s independence and ability to conduct investigations in a Senate hearing on Wednesday, while acknowledging some dissatisfaction with the way his agency has looked into financial market trades by top central bankers. “No Board Chair has resisted or objected to…
(Reuters) – Charles Schwab Corp is looking to raise $2.5 billion in long-term debt, the Wall Street Journal reported on Wednesday, citing people familiar with the matter. The financial services firm will issue $1.2 billion in debt due in 2029 and $1.3 billion due in 2034, the report added. The company declined to comment on…
