(Reuters) – The cost of insuring exposure to United States sovereign debt rose to the highest level since 2011 on Friday, over market jitters that the government could hit its debt ceiling sooner-than-expected. Spreads on U.S. five-year credit default swaps widened to 51 basis points, data from S&P Global Market Intelligence showed. This is more…
TAIPEI (Reuters) – Taiwan’s central bank debated the need for further rate hikes this year to combat persistent inflation, minutes from its last board meeting showed on Thursday. The central bank, at its quarterly board meeting in March, unanimously decided to raise its policy rate by 12.5 basis points (bps) to 1.875%, a surprise move…
By Sheila Dang (Reuters) – Advertisers are committed to continue spending on TikTok due to its immense popularity with users despite threats of a potential ban in the U.S. over national security concerns, ad experts said. The steadfastness comes as TikTok, which is owned by Chinese tech firm ByteDance, is fighting to prevent a ban…
By Noel Randewich and Shristi Achar A (Reuters) – The S&P 500 and Nasdaq reached their highest closes in 14 months on Tuesday after data showed consumer prices rose modestly in May, boosting bets that the Federal Reserve will not raise interest rates on Wednesday. Nvidia jumped 3.9%, becoming the first chipmaker to end a…
BERLIN (AP) — About 52 million tickets allowing people to use local public transportation across Germany for just nine euros (dollars) per month were sold over the summer, a group representing transit companies said Monday, days before the project ends and amid widespread calls for some kind of successor. The “9-euro ticket,” which was introduced…
NEW DELHI/BEIJING (Reuters) – China said on Friday that it is opposed to a G20 tourism meeting next week in the disputed Himalayan territory of Kashmir in India and will not attend. India, which holds the chair of G20 this year, has organised a series of meetings across the country in the run-up to the…
SHENZHEN, China (Reuters) – China’s strict COVID-19 controls will hamper foreign investment into the country for years to come as limits on travel block the pipeline for projects, the President of the American Chamber of Commerce warned on Tuesday. There are few signs that American companies are leaving the China market, but the years-long process…
By Christoph Steitz and Markus Wacket FRANKFURT/BERLIN (Reuters) – German state-owned bank KfW is considering taking a stake in TransnetBW, the high-voltage power transmission network that EnBW is looking to open up to a long-term investment partner, three people familiar with the matter said. The early deliberations highlight Berlin’s efforts to keep a certain degree…
By Makiko Yamazaki TOKYO (Reuters) -Toshiba Corp shareholders on Thursday voted against its plan to spin off the devices unit, but a separate motion backed by activist shareholders that called for the conglomerate to solicit buyout offers also failed to gain sufficient support. The result of the extraordinary general meeting appears to leave Toshiba with…
By Libby George LONDON (Reuters) -Foreign investors hoping for a game-changing rate hike from Turkey’s newly appointed central bank chief said Thursday’s disappointing move to a key rate of just 15% could keep some money on the sidelines. The appointment of U.S.-trained banker Hafize Gaye Erkan to lead the bank boosted expectations that it would…
