By Joe Cash BEIJING (Reuters) – China’s imports contracted sharply in April, while exports grew at a slower pace, reinforcing signs of feeble domestic demand despite the lifting of COVID curbs and heaping pressure on an economy already struggling in the face of cooling global growth. Inbound shipments to the world’s second largest economy fell…
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried, who has long denied stealing from customers of his FTX cryptocurrency exchange, on Monday asked a U.S. judge to throw out criminal charges against him over the now-bankrupt FTX’s collapse. In a filing in Manhattan federal court, Bankman-Fried’s lawyers said many cryptocurrency exchanges collapsed during a broad…
By Rae Wee SINGAPORE (Reuters) – The dollar inched higher on Tuesday after a loans survey revealed that credit conditions in the United States were less gloomy than expected, while the pound flirted with a one-year peak ahead of this week’s Bank of England policy meeting. The Federal Reserve’s quarterly Senior Loan Officer Opinion Survey…
By Stephen Nellis (Reuters) – LinkedIn, the social media network owned by Microsoft Corp that focuses on business professionals, said on Monday it would cut 716 jobs as part of broader changes that would also result in it phasing out its local jobs app in China. In a letter to employees, LinkedIn CEO Ryan Roslansky…
TOKYO (Reuters) – Two major European asset managers have jointly filed a shareholder resolution at Japanese electricity generator Electric Power Development Co Ltd, known as J-Power, for the second consecutive year in a row. Amundi and HSBC Asset Management filed the resolution with the Australasian Centre for Corporate Responsibility (ACCR), the non-profit climate group said…
(Reuters) – Canada’s Cenovus Energy Inc said on Monday it has shut down production plants in some areas of its conventional business, due to wildfires in Alberta. The company added that production of about 85,000 barrels of oil equivalent per day has been impacted in Cenovus’ Rainbow Lake, Kaybob-Edson, Elmworth-Wapiti and Clearwater operating areas. Cenovus,…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. Chinese trade and Japanese household spending data are on tap Tuesday, although Asian market sentiment looks set to be led once again by the ebb and flow of data and sentiment around U.S. banks, credit and loan demand….
(Reuters) – Memory chip firm Western Digital Corp forecast fourth-quarter revenue and profit below Wall Street estimates on Monday, signaling that memory chip demand will take longer to recover as cloud spending also shrinks. The company’s shares fell about 1% in extended trading. Chipmakers across the board including Intel Corp have said cloud spending is…
By David Morgan WASHINGTON (Reuters) – President Joe Biden and top Republicans and Democrats from Congress are set to sit down this week to try to resolve a three-month standoff over the $31.4 trillion U.S. debt ceiling and avoid a crippling default before the end of May. The Democratic president is calling on lawmakers to…
By Jonathan Stempel (Reuters) – One of the biggest hits from the just-concluded annual love fest for Warren Buffett showed the enduring popularity of the investing legend: plush, squishy toys featuring the billionaire and his business partner Charlie Munger. On Friday, the start of Berkshire Hathaway Inc’s three-day shareholder weekend, thousands thronged a convention hall…
