By Xie Yu and Summer Zhen HONG KONG (Reuters) -Rather than spur a relief rally in China’s battered tech sector, the past week’s developments at Jack Ma-founded Ant Group have merely reminded global investors of the fickle nature of the country’s regulatory policies and the fragility of the sector. The initial market reaction when China…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks ended solidly higher on Wednesday, led by a gain of more than 1% in the Nasdaq after a report showed inflation subsided further with consumer prices registering their smallest annual increase in more than two years. The data underscored expectations the Federal Reserve may let interest…
By John McCrank NEW YORK (Reuters) – The U.S. Securities and Exchange Commission on Wednesday finalized rules aimed at increasing the resilience of the $5.5 trillion money market fund industry, but scrapped a proposed new pricing model that had been strongly opposed by asset managers. The SEC’s decision not to impose “swing pricing” represents a…
By Herbert Lash NEW YORK (Reuters) – The end of the pandemic has brought little relief to Manhattan’s depressed market for workspace, where empty floors remain the norm and by one calculation the values of 45% of the city’s office buildings are below their last sale price. The amount of space leased in the second…
SEOUL (Reuters) – South Korea’s import prices fell in annual terms for a fifth month in June and marked the steepest drop in more than eight years, central bank data showed on Thursday, an indication of easing inflationary pressure. The import price index was 15.7% lower than the same month the year before, after a…
By Jody Godoy (Reuters) – A U.S. judge on Wednesday approved Allianz’s $6 billion settlement over the 2020 collapse of a group of investment funds, ending a scandal that took down one of the German company’s U.S. subsidiaries. Allianz settled with U.S. authorities in May 2022 over allegations that its U.S. unit defrauded investors in…
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Environmental Protection Agency (EPA) on Wednesday proposed stricter regulations for lead exposure in residential buildings and childcare facilities. Any amount of lead found in a building will be regarded as hazardous, according to the proposed rule from the EPA that would lower its lead dust hazard level…
By Stephanie Kelly NEW YORK (Reuters) – A bipartisan group of U.S. lawmakers introduced legislation this week directing the Biden administration to allow oil refiners to purchase compliance credits for U.S. biofuel blending laws at a lower, fixed cost compared to the open market. The proposal would reduce rising compliance costs associated with the U.S….
By Asif Shahzad ISLAMABAD (Reuters) -The International Monetary Fund’s board approved a $3 billion bailout programme for Pakistan which will immediately disburse about $1.2 billion to help stabilise the South Asian ailing economy, the lender said on Wednesday. Pakistan and the Fund reached a staff level agreement last month, securing a short-term pact, which got…
By David Randall NEW YORK (Reuters) -Large leveraged bets by hedge funds in the U.S. Treasury market could “amplify stress” in global financial markets should rates markets move sharply, the Bank of England said in a report published on Wednesday. Hedge funds have taken record short positions in two- and five-year Treasury futures this year,…
