BEIJING (Reuters) – China’s cabinet has approved guidelines on transforming underdeveloped areas in megacities, in the government’s latest move to support the economy, state media said on Friday. The post-COVID recovery in China, the world’s second-largest economy, is faltering as demand weakens at home and abroad, adding pressures on policymakers to roll out more support…
(Reuters) – California’s power grid operator said it does not plan to ask consumers to conserve power on Friday after declaring an energy emergency late Thursday as homes and businesses cranked up their air conditioners to escape a lingering heat wave. The California Independent System Operator (ISO), which operates the grid serving more than 32…
By Olena Harmash KYIV (Reuters) -The World Bank’s private investment arm is considering $1.5 billion in investments in Ukraine’s banking, agribusiness and infrastructure sectors, a senior official with the International Finance Corporation (IFC) said on Friday. Alfonso Garcia Mora, IFC’s Regional Vice President for Europe, Latin America and the Caribbean, hailed the resilience of Ukraine’s…
By Ismail Shakil OTTAWA (Reuters) – Canadian retail sales underperformed expectations in May and were likely unchanged in June, data showed on Friday, pointing toward a slowdown in economic growth that would allow the Bank of Canada to leave interest rates unchanged. Sales rose 0.2% in May from April, less than the 0.5% increase forecast…
By Clare Jim HONG KONG (Reuters) -Golfers have stepped up their fight to stop the Hong Kong government from taking back land in a 100-year-old golf course for public housing, saying that the move scheduled for Sept. 1 could hurt the Chinese-ruled city’s international image. The government is set to repossess a fifth of the…
By Amy-Jo Crowley and Valentina Za LONDON/MILAN (Reuters) – A number of international groups are in the running to buy TUA Assicurazioni from Generali, sources with knowledge of the matter said, as Italy’s top insurer aims to streamline assets inherited in a deal in 2021. TUA Assicurazioni, a non-life company founded in 2003, is valued…
(Reuters) -KKR & Co said on Friday it would buy chemical maker Chase in an all-cash deal valued at about $1.3 billion including debt, to help the private equity firm bolster its holdings in the specialty chemicals sector. Shares of Chase fell 1.5% in premarket trading. Under the deal terms, KKR will buy all outstanding…
By Ankur Banerjee, Clare Jim and Marc Jones SINGAPORE/HONG KONG/LONDON (Reuters) -China’s property sector crisis escalated again on Friday as a sharp fall in the shares and bonds of one of the country’s biggest developers, Country Garden, capped a turbulent week for the long-troubled sector. News that the firm, which has thousands of projects in…
(Reuters) -Shares of Digital World Acquisition (DWAC) surged 55% on Friday as a settlement with U.S. securities regulator over fraud charges cleared some of the uncertainty over the blank-check firm’s merger with former U.S. President Donald Trump’s media and tech company. The stock’s gain puts it on course for its best day since November last…
By Shubham Kalia and Gokul Pisharody (Reuters) -U.S. prosecutors have accused FTX founder Sam Bankman-Fried of witness tampering and asked a federal judge to issue an order that would bar the former billionaire and other parties from making public statements likely to interfere with a fair trial. The prosecutors wrote to U.S. District Judge Lewis…
