HONG KONG/BEIJING (Reuters) -Two creditors of China’s Guangzhou R&F Properties have sued the property developer to seek a bankruptcy restructuring, notices in an official database showed, deploying a rare court tactic against a mid-sized firm of its kind. While many developers, including R&F, have faced legal action by creditors for non-repayment, such restructuring requests to…
By Georgina Lee and Scott Murdoch HONG KONG (Reuters) – China Life Insurance (Overseas) Hong Kong has mandated banks for its 10-year subordinated bond offering, according to a preliminary term sheet seen by Reuters on Monday. The Hong Kong arm of China’s second-biggest insurer by assets is looking to raise between $1 billion and $2…
By Dhara Ranasinghe LONDON (Reuters) -Banks including Deutsche Bank and BofA said on Friday they expect another 75 basis point rate hike from the European Central Bank in October, a day after the central bank delivered a supersized interest-rate rise of that size to tame inflation. The ECB raised its key rates by an unprecedented…
(Reuters) -Microsoft Corp has threatened to cut off access to its internet-search data, which it licenses to rival search engines, if they do not stop using it as the basis for their own artificial intelligence chat products, Bloomberg News reported on Friday. The company has told at least two customers that using its Bing search…
(Reuters) – The U.S. budget deficit swelled in May from a year earlier as revenue tumbled and Medicare spending surged, the Treasury Department said on Monday in its first monthly accounting of the government’s finances since a deal was reached to suspend the debt limit and avoid a first-ever federal default. The May deficit shot…
By Kanishka Singh WASHINGTON (Reuters) – The U.S. Senate’s Finance Committee on Tuesday revealed an ongoing probe into private equity billionaire Leon Black’s financial ties with disgraced late financier Jeffrey Epstein, and said the investigation “uncovered serious tax issues.” “The investigation has uncovered serious tax issues and other concerns with trusts and structures Black executed…
WASHINGTON (Reuters) – Republican presidential candidate Donald Trump said on Tuesday an agreement has been reached to have closed microphones at the Sept. 10 U.S. presidential debate with Democratic rival Kamala Harris. The Harris campaign did not immediately return a request for confirmation about the ABC-hosted debate. The candidates campaigns clashed on Monday over the…
THE HAGUE (Reuters) -Russia on Thursday denied Ukrainian accusations that it backed pro-Russian separatists in eastern Ukraine in 2014 and discriminates against ethnic Tatars and Ukrainians in Crimea, accusing Kyiv instead of “blatant lies” at the U.N.’s top court. Ukraine has asked the Hague-based International Court of Justice (ICJ) to order Russia to halt alleged…
By Fransiska Nangoy and Stefanno Sulaiman NUSA DUA, Indonesia (Reuters) – G20 finance leaders meeting in Bali must make progress tackling the global economic threats sparked by Russia’s war in Ukraine or the humanitarian consequences would be catastrophic, host Indonesia said on Friday. Some Western ministers blasted Russian officials attending the talks, with U.S. Treasury…
WASHINGTON (Reuters) – U.S. construction spending increased more than expected in March, boosted by investment in nonresidential structures, but single-family homebuilding remained depressed amid higher mortgage rates. The Commerce Department said on Monday that construction spending rose 0.3% in March after declining 0.3% in February. Economists polled by Reuters had forecast construction spending gaining 0.1%….
