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SYDNEY (Reuters) – Australian Foreign Minister Penny Wong said on Tuesday she would push for trade sanctions to be lifted in her meeting with Chinese counterpart Wang Yi as Canberra looks to repair strained diplomatic relations with Beijing. “Many of the hard issues in the relationship will take time to resolve in our interests,” Wong said…
By Sam Jabri-Pickett and Nia Williams (Reuters) -United Conservative Party (UCP) leader Danielle Smith’s election victory in Canada’s main oil-producing province Alberta on Monday is likely to herald further friction with Liberal Prime Minister Justin Trudeau, particularly over climate change. The populist premier’s win signals a further rightward shift in the traditionally conservative province, and…
By Selena Li HONG KONG (Reuters) – Asian stocks regained some composure on Tuesday as the massive selling that rocked financial markets after Russia’s invasion of Ukraine last week paused for breath, while surging crude prices supported oil exporters in the region. Global stock markets have tumbled in recent days following Russia’s invasion of Ukraine…
Frontier Airlines and Spirit Airlines are proposing to combine in a $2.9 billion deal that would create a larger discount airline to compete against the nation’s dominant carriers and, they say, promote lower fares. Both are ultra-low-cost carriers that tempt travelers with rock-bottom prices for no-frills service but often generate more than their share of…
By Maki Shiraki and Daniel Leussink TOKYO (Reuters) -Nissan shareholders re-elected its chief executive and other board nominees on Tuesday at an annual meeting that came days after revelations of a split among senior management and allegations of corporate surveillance. The Japanese automaker is investigating accusations that CEO Makoto Uchida carried out surveillance of his…
By Michelle Price WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) on Wednesday finalized long-awaited regulations to improve the resilience and transparency of the roughly $5.5 trillion U.S. money market fund industry. A critical source of short-term corporate and municipal funding, money market funds have been bailed out by the U.S. government twice…
By Kevin Yao and Samuel Shen BEIJING (Reuters) – China’s promised “basket of measures” to defuse local government debt risks is likely to include special bond issuance, debt swaps, loan rollovers, and something Beijing really loathes: dipping into the central budget. Local governments are fundamental to China’s economy, with Beijing tasking provincial and city officials…
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose on Wednesday, after government data showed U.S. crude and fuel inventories fell last week, offsetting concerns that rising coronavirus cases might reduce demand. Brent crude rose 29 cents to settle at $79.23 a barrel. U.S. West Texas Intermediate (WTI) crude rose 58 cents to settle…
By Kane Wu, Julie Zhu and M. Sriram HONG KONG (Reuters) -U.S. venture capital giant Sequoia plans to split off its Chinese and Indian/Southeast Asian businesses into two independent firms, it said on Tuesday, as it tries to better navigate economic and geopolitical challenges. The split, which will see the two new firms adopt their…
By Ross Kerber (Reuters) -Top fund manager BlackRock Inc won support from investors at its annual meeting on Wednesday as it seeks a middle ground in debates over its environmental, social and governance (ESG) policies. BlackRock said each of its director nominees received “well over a majority” of votes cast at the meeting, held online,…
