September 24, 2021 By Clare Jim HONG KONG (Reuters) – Mingling with power brokers at celebrations to mark the centenary of the Chinese Communist Party on July 1, a beaming Hui Ka Yan showed no signs that his company, China Evergrande, was facing mounting pressure with debt repayments. Hui, wearing a navy-blue suit and open-neck […]
Doping-Russia’s 2012 wrestling gold medallist Makhov gets four-year ban
September 24, 2021 (Reuters) – Russian wrestler Bilyal Makhov, who won a gold medal in the 120kg freestyle competition at the London Olympics, has been banned for four years for an anti-doping violation, the Russian Anti-Doping Agency (RUSADA) said. The 34-year-old’s suspension was backdated to Jan. 27, 2020, it said in a statement https://ift.tt/3zDpFTS TASS […]
Alarmed by Evergrande, China’s lenders hold back on new credit for property developers
September 24, 2021 By Engen Tham SHANGHAI/BEIJING (Reuters) – As fears of contagion from any default by China Evergrande Group mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent checks on their exposure to the troubled sector. Carrying $305 billion in liabilities, China’s second […]
Google, India antitrust watchdog tussle in court over probe leak
September 24, 2021 By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) – Google accused India’s antitrust regulator in court on Friday of being a “habitual offender” by leaking confidential information of cases it was examining, an accusation the watchdog rejected. The Times of India and Reuters reported on Saturday that an investigation by the […]
Afghan Taliban defence minister orders crackdown on abuses
September 24, 2021 PESHAWAR, Pakistan (Reuters) – The Taliban’s new defence minister has issued a rebuke over misconduct by some commanders and fighters following the movement’s victory over the Western-backed government in Afghanistan last month, saying abuses would not be tolerated. Mullah Mohammad Yaqoob said in an audio message that some “miscreants and notorious former […]
Taiwan export orders growth underwhelms on smartphones
September 24, 2021 TAIPEI (Reuters) – Taiwan’s export orders grew less than forecast in August on unexpectedly weaker demand for new smartphones, though the government said the demand outlook for the island’s tech goods remains good. Taiwan’s export orders, a bellwether of global technology demand, jumped 17.6% from a year earlier to $53.5 billion in […]
India merger of Sony, Zee to create TV powerhouse challenging Disney
September 24, 2021 By Shilpa Jamkhandikar and Sankalp Phartiyal MUMBAI (Reuters) – A merger of India’s Zee and a domestic unit of Japan’s Sony Group Corp will create a television powerhouse to grab more advertising revenue, challenging top rival Walt Disney Co in a key growth market, industry officials said. The Sony-Zee alliance, with about […]
Italy business confidence slips in Sept but consumer morale hits record high
September 24, 2021 ROME (Reuters) – – Morale amongst Italian businesses slipped for a second month running in September but consumer confidence jumped to its highest level for more than 23 years, data showed on Friday. National statistics institute ISTAT’s manufacturing confidence index edged down to 113.0 in September from 113.2 in August, but was still above […]
Global equity funds see their first outflows in 2021 – BofA
September 24, 2021 By Saikat Chatterjee LONDON (Reuters) -Global equity funds saw their first outflows in 2021 as rising pessimism about U.S. President Joe Biden’s spending plans triggered large outflows, while cash, government, debt and gold saw heavy inflows, a weekly round-up by BofA showed on Friday. U.S. stocks are on track to post their […]
Take Five: “Auf Wiedersehen Merkel, hallo…?”
September 24, 2021 LONDON (Reuters) – Following are five big themes likely to dominate thinking of investors and traders in the coming week and the Reuters stories related to them. 1/GERMANY’S ‘MUTTI’ BOWS OUT Sunday’s German election is a close call and stakes for Europe’s biggest economy couldn’t be higher. After 16 years of steady, […]
New York, London keep top spots in global financial centres index
September 24, 2021 By Huw Jones LONDON (Reuters) – New York easily kept the top spot in the latest Global Financial Centres Index (GFCI), while London held on to second place as Chinese cities slipped, according to the ranking published on Friday. The index, published by the Z/Yen Group in partnership with think-tank China Development […]
Explainer-How China Evergrande’s debt troubles pose a systemic risk
September 24, 2021 By Clare Jim HONG KONG (Reuters) – China Evergrande Group has missed a dollar bond interest payment deadline, moving closer to a potential default and fuelling worries about a collapse that could send shockwaves through China’s economy and beyond. WHAT IS EVERGRANDE? Chairman Hui Ka Yan founded Evergrande in Guangzhou in 1996. […]
German business morale falls on manufacturing ‘bottleneck recession’
September 24, 2021 BERLIN (Reuters) – German business morale fell for the third month running in September, hit by supply chain problems that are causing a “bottleneck recession” for manufacturers in Europe’s largest economy, a survey showed on Friday. The Ifo institute said its business climate index fell to 98.8 from an upwardly revised 99.6 […]
Linda Evangelista files $50 million lawsuit over disfiguring cosmetic treatment
September 24, 2021 LOS ANGELES (Reuters) – Former supermodel Linda Evangelista has filed a $50 million lawsuit over cosmetic procedures that she says left her “brutally disfigured” and turned her into a recluse. The Canadian model, one of the biggest figures on runways and magazine covers in the 1990s, said in an Instagram post that […]
Timeline: China Evergrande’s snowballing debt crisis
September 24, 2021 HONG KONG (Reuters) – Debt-ridden property developer Evergrande Group missed a dollar bond interest payment deadline, moving closing to a potential default and fuelling worries that a collapse could send shockwaves through China’s economy and beyond. Here is a timeline of events leading to Evergrande’s debt problems and what the developer has […]
UK consumer morale wilts under cost-of-living crisis: GfK
September 24, 2021 LONDON (Reuters) – Growing worries over energy bills, food costs and tax hikes prompted a hefty drop in British consumer confidence this month as people became more downbeat about the economic outlook, a survey showed on Friday. The GfK Consumer Confidence Index fell to -13 in September from -8 in August, the […]
With some gas stations closed, Britain vows to solve trucker shortage
September 24, 2021 By Sarah Young, Victor Jack and Kate Holton LONDON (Reuters) -Britain on Friday vowed to do whatever it takes to resolve a trucker shortage that has forced oil giant BP to close some petrol stations and strained supermarket supply chains to breaking point. Just as the world’s fifth largest economy emerges from […]
Russia’s Yandex to launch cloud business in Germany, invest $30 million initially
September 24, 2021 MOSCOW (Reuters) – Russian internet firm Yandex plans to launch its cloud business in Germany in 2022, with an initial investment of $30 million, the company said ahead of its annual Yandex.Scale cloud conference on Friday. Yandex.Cloud’s revenue is seen tripling to around 3 billion roubles in 2021 but, having launched in […]
U.S. pension fund to vote against Aramco chair for Reliance board – BloombergQuint
September 24, 2021 BENGALURU (Reuters) – The California State Teachers’ Retirement Fund (CalSTRS) has decided to vote against the appointment of Saudi Aramco’s chairman as an independent director to the board of Mukesh Ambani’s Reliance Industries, BloombergQuint reported. The U.S. pension fund held 5.3 million fully and partly paid shares of Reliance Industries, as of […]
European stocks slide as Evergrande concerns resurface
September 24, 2021 (Reuters) – European stocks slipped at the open on Friday on lingering worries about troubled property developer China Evergrande, with mining and retail stocks exposed to the Asian country among the biggest decliners. The regionwide STOXX 600 index slipped 0.5% after a three-day run of gains. Miners, automakers and retailers fell more […]
