By Kane Wu HONG KONG (Reuters) – UBS Group AG was rushed into buying cross-town rival Credit Suisse Group AG in a deal it did not want, as a global bank crisis worsened the latter’s finances and prompted authorities to take swift action, a regulatory filing showed. UBS, in a Tuesday filing to the U.S….
BEIJING (Reuters) – China’s new home prices rose for the fourth straight month in April but at a slower pace, heightening fears that pent-up demand after the country’s economic reopening is fading. Economists say more policy stimulus may be needed to ensure the recovery stays on track after a batch of recent data showed imports…
A look at the day ahead in European and global markets from Ankur Banerjee Nervousness in the market over the looming U.S. debt ceiling deadline prevailed through the Asian hours and will remain the main focus for investors as Europe wakes up. While the talks between U.S. President Joe Biden and top congressional Republican Kevin…
By Michelle Nichols UNITED NATIONS (Reuters) – The extension of a deal allowing the safe Black Sea export of Ukrainian grain and fertilizers beyond May 18 hangs in the balance after Russia issued a list of demands linked to a related agreement on its own such exports. Here are details on the deals brokered by…
By David Lawder WASHINGTON (Reuters) -The Internal Revenue Service said on Tuesday it would launch a free, government-provided direct tax filing option next year, which could lead to the full-scale launch of an IRS filing system that would compete with private tax preparers. The IRS said in an exploratory report to Congress that 72% of…
SYDNEY (Reuters) -Australian wages grew at the fastest annual pace in a decade last quarter, although quarterly gains missed forecasts, in a result that offers some temporary solace for policymakers who worry a price-wage spiral may lead to more rate hikes. Figures from the Australian Bureau of Statistics on Wednesday showed its wage price index…
SINGAPORE (Reuters) -Singapore’s non-oil domestic exports fell 9.8% in April from the same month a year earlier, data on Wednesday showed, weighed down by declines in both electronic and non-electronic products. Last month’s decline compared with a Reuters poll forecast of a 9.4% drop, and extended the 8.3% contraction seen in March. On a month-on-month…
(Reuters) -Credit Suisse Group AG faces certain restrictions in its ability to do business until its acquisition by rival UBS Group AG is completed, according to a regulatory filing on Tuesday. In certain cases, without prior UBS approval, Credit Suisse cannot grant a new credit facility or credit line in an amount exceeding 100 million…
By Nandita Bose and David Morgan WASHINGTON (Reuters) -Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default Tuesday, as the threat of an economic nightmare prompted Biden to cut short an Asia trip this week. After an hour of talks, McCarthy, the…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stock indexes closed lower on Tuesday after a disappointing forecast from Home Depot and U.S. retail sales data for April pointed to softer consumer spending, while uncertainty about interest rates and debt limit negotiations weighed on sentiment. Home Depot declined 2.15% as one of the biggest drag…
