BEIJING (Reuters) – China published regulations on Sunday for the country’s $2.9 trillion private investment fund sector, seeking to better protect investors and promote innovation. The new rules, signed by Premier Li Qiang and effective on Sept. 1, create a chapter specifically for venture capital funds, as policymakers encourage investment into innovative technology start-ups, said…
ISTANBUL (Reuters) – Turkey is taking measures to re-establish fiscal discipline and control the level of the budget deficit, Finance Minister Mehmet Simsek said on Sunday. The budget deficit for the first five months of the year was 263.6 billion lira ($10.12 billion), compared to 124.6 billion lira a year ago due to increased spending…
By Andrea Shalal BEIJING (Reuters) – The United States has repeatedly referred to a senior Chinese central banker as the head or acting head of the People’s Bank of China (PBOC) in recent days, appearing to confirm his expected elevation to the top post. Treasury Secretary Janet Yellen referred to PBOC Deputy Governor Pan Gongsheng,…
By Mathieu Rosemain AIX-EN-PROVENCE, France (Reuters) – A “Chinese storm” is looming over Europe’s growing electric vehicle (EV) sector, Renault Chairman Jean-Dominique Senard told Reuters on Saturday, as Asia’s superpower dominates key raw materials to make batteries for zero emission cars. China’s recent decision to restrict exports of two metals – gallium and germanium –…
By Krystal Hu SAN FRANCISCO (Reuters) – Venture capital firm Headline used to be in one of San Francisco’s most eye-catching skyscrapers: the pyramidal Transamerica building that has defined the skyline for decades. Employees enjoyed the views from the 43rd floor and the convenience of being downtown. Then came the pandemic. As the tech industry…
PARIS (Reuters) – The U.S. presidential election could trigger a major energy shock if Republicans were to win and decide to halt hydrocarbon exports, Patrick Pouyanné, the chief executive of French oil major TotalEnergies, said on Saturday. “The only thing that could happen, which is a major systemic risk, is that the Republicans decide to…
By Julie Zhu and Josh Ye HONG KONG (Reuters) -Ant Group on Saturday announced a surprise share buyback that values the fintech giant at $78.54 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit after a lengthy regulatory overhaul of the firm….
By Lewis Krauskopf, Bansari Mayur Kamdar and Johann M Cherian (Reuters) – Wall Street’s main indexes ended lower on Friday in a seesaw session, as investors digested a U.S. jobs report that showed weaker-than-expected growth and awaited more economic data and corporate earnings in the weeks ahead. The U.S. added the fewest jobs in 2-1/2…
By Nandita Bose WASHINGTON (Reuters) -U.S. President Joe Biden on Friday announced new steps to crack down on short-term health insurance plans and surprise medical bills, stepping up his war against so-called junk fees to lower healthcare costs. This will include a proposed rule that closes loopholes companies use to offer misleading short-term insurance products,…
BUENOS AIRES (Reuters) – Expectations for galloping consumer prices in Argentina remain solidly in triple-digit territory, a monthly analyst poll showed on Friday, though the forecast edged down slightly compared with last month’s survey. Analysts polled by the South American country’s central bank forecast annual inflation this year at 142.4%, below the 148.9% seen in…
