September 8, 2021 By Andrew Galbraith (Reuters) -Fitch Ratings cut the ratings of China Evergrande Group and two of its subsidiaries on Wednesday, the latest in a series of downgrades targeting the property firm due to worries over its ability to restructure its huge debts. Regulators have warned that Evergrande’s 1.97 trillion yuan ($304.79 billion) […]
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European stocks fall 1% on growth worries
September 8, 2021 (Reuters) – European stocks fell on Wednesday as worries about slowing global growth weighed on sentiment, while investors looked ahead to a European Central Bank meeting for hints on tapering plans. The Europe-focussed STOXX 600 index fell 1% by 0712 GMT – on course for its biggest daily decline in three weeks […]
Halfords says supply chain disruption affecting bike business
September 8, 2021 LONDON (Reuters) -British bikes and car parts retailer Halfords said on Wednesday disruption in the global supply chain was dragging on its cycling business, although it stuck to its targets and guided that it was well-positioned to manage the challenge. Halfords, Britain’s largest cycling retailer, said it expected the cycling supply chain […]
Euro zone banks face further rise in soured loans -ECB
September 8, 2021 FRANKFURT (Reuters) – Euro zone banks are set to face a further deterioration of their loan book and many lenders have failed to adjust their credit control norms to acknowledge the unique nature of the pandemic, European Central Bank supervisory chief Andrea Enria said. “There are signs that the asset quality deterioration […]
ByteDance in talks to borrow up to $5 billion – The Information
September 8, 2021 (Reuters) – ByteDance, the Chinese owner of short-video platform TikTok, is in talks with banks to borrow up to $5 billion to refinance debt and pay for overseas expansion, The Information reported https://ift.tt/3yN4aje on Wednesday, citing people with knowledge of the matter. The company and the banks have discussed raising between $4 […]
Marketmind: Time to join the green bond gang
September 8, 2021 A look at the day ahead from Dhara Ranasinghe. As governments get back to business with debt issuance after the summer break, there’s something notable about this week’s debt sales in Europe — it’s green. Germany on Wednesday will sell 10-year green bonds, a day after Spain’s debut green bond garnered an […]
Bitcoin bruised after chaotic debut as legal tender in El Salvador
September 8, 2021 TOKYO (Reuters) – Bitcoin licked its wounds on Wednesday, a day after its heaviest losses in 2-1/2 months as El Salvador’s historic adoption of the crypto asset as legal tender caused chaos online and on the street. The coin last traded at $46,560, having endured wild trade the day before in which […]
Dollar marks one-week top amid higher U.S. yields, ECB caution
September 8, 2021 By Kevin Buckland TOKYO (Reuters) – The dollar rose to a one-week peak against major peers on Wednesday, buoyed by higher Treasury yields and a weaker euro ahead of a European Central Bank policy decision. The dollar index, which measures the currency against six rivals, ticked up 0.05% to 92.580, after earlier […]
Japan upgrades Q2 GDP on stronger business spending
September 8, 2021 By Tetsushi Kajimoto and Kantaro Komiya TOKYO (Reuters) -Japan’s economy grew faster than the initially estimated in the April-June quarter, helped by solid capital expenditure, although a resurgence in COVID-19 is undermining service-sector consumption and clouding the outlook. Revised gross domestic product (GDP) data by the Cabinet Office released on Wednesday showed […]
Credit Suisse names new heads of compliance, HR
September 8, 2021 ZURICH (Reuters) – Credit Suisse Group AG on Wednesday named Rafael Lopez Lorenzo as chief compliance officer and Christine Graeff as global head of human resources. Lopez Lorenzo, current global head of group internal audit, will take over as of Oct. 1 from Thomas Grotzer, who had assumed the role on an […]
Italy, UniCredit to extend talks over Monte dei Paschi sale -sources
September 8, 2021 By Valentina Za and Giuseppe Fonte MILAN (Reuters) -UniCredit and Italy’s Treasury are set to extend discussions over the sale of state-owned bank Monte dei Paschi di Siena beyond an exclusivity deadline on Wednesday, two people close to the matter said. Italy’s second-largest bank agreed at the end of July to start […]
China will maintain prudent monetary policy, says central bank official
September 8, 2021 BEIJING (Reuters) -China will maintain prudent monetary policy and not resort to flood-like stimulus, said Pan Gongsheng, vice governor of the People’s Bank of China (PBOC). Signs that China’s economy is losing steam and small firms are struggling have stoked market expectations of policy support sooner rather than later. The PBOC last […]
Britain’s Morrisons in talks with suitors to start auction process
September 8, 2021 LONDON (Reuters) – British supermarket group Morrisons said on Wednesday it was in talks with its two U.S. private equity suitors and the Takeover Panel, which governs deals in the UK, regarding an auction procedure to settle its future ownership. Last month Morrisons agreed a 7 billion pound ($9.6 billion)offer from Clayton, […]
Powerful quake shakes southwest Mexico, one dead
September 8, 2021 By Uriel Sanchez ACAPULCO, Mexico (Reuters) – A powerful earthquake struck southwestern Mexico near the beach resort of Acapulco on Tuesday, killing at least one man who was crushed by a falling post, and causing rock falls and damaging buildings, authorities said. The quake of magnitude 7.0, which hit 11 miles (17.7 […]
Myanmar urged to avoid violence after junta opponents declare revolt
September 8, 2021 (Reuters) – Southeast Asian and Western countries have urged all sides in Myanmar to refrain from violence and allow in humanitarian aid, after a shadow government, formed by opponents of military rule, declared a nationwide uprising against the junta. The National Unity Government (NUG) said on Tuesday it was launching a “people’s […]
SEC threatens to sue Coinbase over crypto lending programme
September 8, 2021 HONG KONG (Reuters) – The U.S. Securities and Exchange Commission (SEC) has threatened to sue Coinbase Global Inc if the crypto exchange goes ahead with plans to launch a programme allowing users to earn interest by lending crypto assets, Coinbase said on Wednesday. The SEC has issued Coinbase with a Wells notice, […]
PayPal heats up buy now, pay later race with $2.7 billion Japan deal
September 8, 2021 By Sayantani Ghosh and Anirudh Saligrama (Reuters) – U.S. payments giant PayPal Holdings Inc said it would acquire Japanese buy now, pay later (BNPL) firm Paidy in a $2.7 billion largely cash deal, taking another step to claim the top spot in an industry experiencing a pandemic-led boom. The deal tracks rival […]
Hydrogen may help wean telecoms off emissions-intensive power for remote infrastructure
September 8, 2021 By Aaron Sheldrick TOKYO(Reuters) – As the world rushes to cut carbon emissions, hydrogen fuel cells may offer global telecoms an environmentally friendly solution to power energy-hungry remote networks, experts say. Telecoms run vast arrays of relay stations, data centres and other infrastructure that need reliable, constant power. Hydrogen fuel cells, invented […]
In surprise move, Britney Spears’ father asks for conservatorship to end
September 8, 2021 By Lisa Richwine LOS ANGELES (Reuters) -Jamie Spears, the father of Britney Spears, on Tuesday asked a Los Angeles court to end the pop singer’s 13-year conservatorship, saying circumstances have changed in recent months. In an unexpected development, Jamie Spears, who in 2008 set up the court-sanctioned arrangement that governs the singer’s […]
Oil holds steady on slow return of U.S. supplies after Hurricane Ida
September 8, 2021 By Sonali Paul and Florence Tan MELBOURNE/SINGAPORE (Reuters) -Oil prices were little changed on Wednesday following overnight losses from a stronger dollar and demand concerns, with a slow production restart in the U.S. Gulf of Mexico providing some support. U.S. West Texas Intermediate (WTI) crude futures rose 11 cents, or 0.2%, to […]
