By Fergal Smith TORONTO (Reuters) – The Canadian dollar is expected to strengthen over the coming year as global economic recovery continues from the COVID-19 crisis but gains for the currency could be kept in check by Federal Reserve interest rate hikes, a Reuters poll showed. The median forecast in a Reuters poll was for…
By Julie Zhu and Clare Jim HONG KONG (Reuters) – Under pressure from authorities, Chinese property firm Kaisa Group Holdings Ltd is working furiously to come up with a feasible plan to repay wealth product investors, two sources with direct knowledge of the matter said. Kwok Ying Shing, chairman of the cash-strapped developer, has agreed…
SHANGHAI/HONG KONG (Reuters) -China will make it easier for state-backed property developers to buy up distressed assets of debt-laden private peers, a source with direct knowledge said on Friday, another step by policymakers to avert a liquidity crisis in the sector. State-owned developers acquiring distressed assets will not have those loans counted as debt under…
(Reuters) – GameStop Corp is launching a division to develop a marketplace for nonfungible tokens (NFTs) and establish cryptocurrency partnerships, a source familiar with the matter said on Thursday, boosting the video game retailer’s shares 27% in extended trading. GameStop declined to comment. The Wall Street Journal first reported the news citing people familiar with…
SHENZHEN, China (Reuters) – U.S. video gaming platform Roblox Corp., has taken down its Chinese app that fronted its expansion efforts into the country, telling Reuters it was part of “a number of important transitory actions” as it builds its next version. The LuoBuLesi app, which Roblox launched in July in partnership with an affiliate…
By Ron Bousso LONDON (Reuters) – Royal Dutch Shell said it will pursue its $7 billion share buyback programme after selling its U.S. shale business “at pace” as its liquefied natural gas (LNG) production was hit once again by unplanned outages. Fuel sales were also hit by a slowdown in global economic activity due to…
TOKYO (Reuters) – Japanese customers will have to settle for a small serving of McDonald’s fries for the next month or so after the fast-food chain said it was limiting portions due to shipping problems. McDonald’s Holdings Company Japan said in a statement on Friday that the impact of flood damage on the port of…
BEIJING (Reuters) – China’s auditing regulator said officials should “keep their eyes open” when conducting audits, after recovering more than 300 billion yuan ($47.04 billion) in government funds, the state-run Xinhua news agency reported. The task of auditing this year will focus on fiscal expenditure, including implementing tax cuts and reductions, Xinhua quoted Hou Kai,…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Japan’s Finance Minister Shunichi Suzuki stressed on Friday the need for currency stability and said he was watching market moves “carefully,” in the wake of the yen’s recent declines against the dollar. Domestic media and some market participants have warned of the potential demerits of a…
By Howard Schneider WASHINGTON (Reuters) – Since adopting a new approach to U.S. monetary policy weighted towards ensuring a strong labor market, Federal Reserve officials have been reluctant to define key terms like “maximum employment,” arguing they did not want to prejudge how many jobs the economy could produce but feel their way toward that…
