September 24, 2021 By Devik Jain (Reuters) – U.S. stock index futures edged lower on Friday, led by banking and technology shares following a sharp rally in the past two days after the Federal Reserve kept its policy stance largely in line with market expectations. Big banks including JPMorgan, Citigroup, Morgan Stanley and Bank of […]
Analysis-Evergrande woes to take toll on China property sale and drive M&A
September 24, 2021 By Clare Jim HONG KONG (Reuters) – The debt crisis engulfing China Evergrande Group has begun to dent homebuyer sentiment and force developers to cut prices, signalling deeper consequences for the world’s No.2 economy and a consolidation in the overcrowded property sector. Evergrande, which epitomises the borrow-to-build business model, is suffocating under […]
Draft report of Arizona’s contentious election audit confirms Biden’s win
September 24, 2021 By Nathan Layne (Reuters) -A partisan review of the 2020 presidential election commissioned by Arizona Republicans has confirmed President Joe Biden’s victory over Donald Trump in the state’s most populous county, according to a draft report of the review’s findings. Maricopa County announced what it said were the main findings on its […]
Argentine artist reflects Parana River drought in giant murals
September 24, 2021 By Lucila Sigal SAN NICOLAS DE LOS ARROYOS, Argentina (Reuters) – In the Argentine city of San Nicolas de los Arroyos, which hugs the banks of the Parana River, two huge murals reflect local worries about a growing environmental issue for the region – the declining levels of the waterway. The two […]
UK retail sales growth slows to 6-month low in Sept – CBI
September 24, 2021 LONDON (Reuters) – British retailers reported much slower growth in September after strong demand over the summer months, though shops expect a rebound in October despite growing supply chain difficulties, the Confederation of British Industry said on Friday. The CBI’s monthly distributive trade survey showed the headline sales balance for retailers tumbled […]
China says all cryptocurrency-related transactions are illegal
China’s central bank said on Friday that all cryptocurrency-related transactions are illegal in the country, citing concerns around national security and social stability. The world’s most populated nation also said that foreign exchanges are banned from providing services to users in the country. In a joint statement, ten Chinese government agencies vowed to work closely […]
Sri Lanka’s apparel industry on tenterhooks over EU trade scrutiny
September 24, 2021 By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka’s preferential trade access to the European Union, which is the biggest market for its $5 billion apparel industry, is in doubt with an investigation into the island country’s human rights and governance concerns set to start on Monday. The European Parliament in mid-June adopted […]
JPMorgan goes ‘underweight’ EM currencies as China risks rise
September 24, 2021 LONDON (Reuters) – Investment bank JPMorgan turned ‘underweight’ on emerging market currencies on Friday, warning a slowdown of China’s economic growth, troubles in its property sector and less supportive global monetary policy were all growing risks. “EM growth concerns from COVID-19 drags are receding but risks that China’s growth slowdown along with […]
Tesla’s Musk says new chip plants should make shortage short term
September 24, 2021 TURIN (Reuters) – Tesla Inc CEO Elon Musk said on Friday that thanks to new semiconductor plants that are planned or under construction, the global chip shortage that has pummelled the car industry this year should be short term in nature. “There’s a lot of chip fabrication plants that are being built,” […]
Shares in Russia’s Novatek fall on arrest of deputy head in U.S.
September 24, 2021 MOSCOW (Reuters) – Shares in Russia’s leading non-state natural gas producer Novatek fell on Friday following the arrest in the United States of deputy head Mark Gyetvay, seen as a key figure in the firm’s investor relations at a time of major expansion. The U.S. Department of Justice said on Thursday that […]
Libya’s proposed election is a moment of danger in push for peace
September 24, 2021 By Angus McDowall TUNIS (Reuters) – Libya’s best chance of peace in years is at risk of unravelling as factions tussle over looming national elections that were envisaged as a way to end a decade of chaotic division. As a cast of factional leaders position themselves for a presidential run, many Libyans […]
Kremlin says more U.S. sanctions would undermine dialogue hopes
September 24, 2021 MOSCOW (Reuters) – Imposing fresh sanctions against Russia would undermine hopes for the restoration of Moscow-Washington dialogue, the Kremlin said on Friday, commenting on potential moves against its sovereign debt. U.S. lawmakers are considering proposals to expand measures targeting Russian debt to secondary market trading. Some Russian debt is already under U.S. […]
Fifth migrant dies in Belarus border area – Polish Border Guard
September 24, 2021 WARSAW (Reuters) – An Iraqi migrant died after crossing into Poland from Belarus, Polish officials said on Friday, the fifth such death in the border area in the past week amid a surge in illegal migration across the European Union’s eastern frontier. Poland, Lithuania and the EU have accused Belarus of encouraging […]
Malaysia’s central bank to launch alternative reference rate
September 24, 2021 KUALA LUMPUR (Reuters) – Malaysia’s central bank will launch an alternative to its interbank benchmark rates that will offer market participants more flexibility and hedging options, it said on Friday. The alternate rate, called the Malaysia Overnight Rate (MYOR), will run in parallel to the existing Kuala Lumpur Interbank Offered Rate (KLIBOR), […]
State, local govts disburse $2.3 billion in Aug. rental aid -Treasury
September 24, 2021 By David Lawder WASHINGTON (Reuters) – State and local governments disbursed over $2.3 billion in Emergency Rental Assistance Program funds in August, up from $1.7 billion in July, the U.S. Treasury said on Friday, well behind the pace needed to keep up with mounting evictions after a moratorium expired. The Treasury Department […]
China turns the screws in crypto crackdown
September 24, 2021 SHANGHAI (Reuters) -China intensified a crackdown on cryptocurrency trading on Friday, vowing to root out “illegal” activity in trading of bitcoin and other virtual currencies and issuing a nationwide ban on cryptocurrency mining. China’s State Council, or cabinet, vowed in May to crack down on bitcoin mining and trading as part of […]
Huawei 2021 smartphone revenue to drop by at least $30-40 billion – rotating chairman
September 24, 2021 SHENZHEN, China (Reuters) – China’s Huawei Technology will see revenue from its smartphone business drop by at least $30-40 billion this year as the company continues to grapple with U.S. restrictions on its supply chain, its rotating chairman Eric Xu said. While the firm has been “getting used to U.S. sanctions” imposed […]
Exclusive-China is unlikely to approve Baidu’s $3.6 billion purchase of JOYY’s YY Live -sources
September 24, 2021 By Julie Zhu HONG KONG (Reuters) – China’s antitrust regulator is unlikely to approve Baidu’s $3.6 billion acquisition of JOYY Inc’s video-based domestic live streaming business YY Live, two sources with direct knowledge of the matter told Reuters. This follows Beijing’s move to rein in gaming-related businesses and corporate expansion via deals, […]
Bitcoin slips after China central bank vows to crack down on crypto trading
September 24, 2021 By Tom Wilson LONDON (Reuters) – Bitcoin fell nearly 5% on Friday after China’s central bank said it would crack down on cryptocurrency trading, banning overseas exchanges from providing services to mainland investors. The largest cryptocurrency was last down 4.6% at $42,874, with smaller coins that typically trade in tandem with bitcoin […]
Quad leaders to meet at White House amid shared China concerns
September 24, 2021 By Steve Holland, David Brunnstrom, Nandita Bose and Michael Martina WASHINGTON (Reuters) – Leaders of United States, Japan, India and Australia, sharing concerns about China’s growing power and behavior, meet in person as a group for the first time on Friday for a summit expected to bring progress on COVID-19 vaccines, infrastructure […]
