Reuters

By Francesco Canepa and Balazs Koranyi FRANKFURT (Reuters) – The European Central Bank eased the pace of its interest rate hikes on Thursday but stressed significant tightening remained ahead and laid out plans to drain cash from the financial system as part of a dogged fight against runaway inflation. After being wrong-footed by sudden price…

BEIJING (Reuters) – China is mulling new measures to support its real estate sector in order to improve the balance sheets of the industry, the country’s vice premier Liu He said on Thursday. China has introduced some policies to bolster the property industry and is considering to roll out more to boost market’s conficence, state…

ISTANBUL (Reuters) – Turkey’s central bank is expected to keep its policy rate unchanged next week, a Reuters poll showed on Thursday, having decided to end the cycle after cutting it to 9% in line with President Tayyip Erdogan’s call for single-digit rates. The central bank has lowered its one-week repo rate by 500 basis…

LONDON (Reuters) – Britain’s biggest domestic bank Lloyds has hired ING’s technology chief to run its operations, Lloyds said on Thursday. Ron van Kemenade will join Lloyds as group chief operating officer in June next year, the British bank said. Van Kemenade will be charged with helping Lloyds CEO Charlie Nunn deliver his strategy to…

By Xie Yu SINGAPORE (Reuters) -Citigroup Inc will wind down its consumer banking business in China in a move that will affect about 1,200 local employees, the bank said on Thursday. The group had announced plans in April 2021 to exit its Chinese consumer banking business as part of a global strategy to withdraw from…

By Stine Jacobsen COPENHAGEN (Reuters) -Shares in H&M, the world’s second-biggest fashion retailer, fell 4.5% in early Thursday trade as a 10% rise in net sales in the September-November quarter failed to match a recent pick up in some analysts’ expectations. H&M, which has struggled to keep up with bigger rival Zara, last month became…

By Stine Jacobsen COPENHAGEN (Reuters) -H&M, the world’s second-biggest fashion retailer, reported on Thursday a 10% increase year-on-year in September-November net sales, slightly exceeding market expectations of a 9.5% rise. H&M, which has struggled to keep up with bigger rival Zara, last month became the first big European retailer to lay off staff in response…

HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) said on Thursday it would raise its base rate charged through the overnight discount window by 50 basis points to 4.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. The U.S. central bank raised interest rates by half a percentage…

By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s property sector shrank further in November, with falls in prices, sales and investment, partly as COVID-19 restrictions hit demand, although recent market-supportive policies and the easing of COVID curbs have burnished the outlook. Analysts expect sentiment to recover gradually next year, as the relaxation of COVID…