By Yoruk Bahceli, Dhara Ranasinghe and Naomi Rovnick (Reuters) – A stellar rally in equities and bonds suggests market confidence is high for the world economy to reach a soft landing after a run of aggressive interest rate hikes. Yet labour markets are softening, the euro zone faces recession and China’s property sector is in …
Markets pin hopes on soft landing, with one eye on recession risk Read More »
By Laura Sanicola (Reuters) -Oil prices fell by more than 2% on Thursday after OPEC+ producers agreed to voluntary oil output cuts for the first quarter next year that fell short of market expectations. Brent crude futures for January settled 27 cents, or 0.3%, lower to expire at $82.83 a barrel, and a 5.2% loss …
Oil falls over 2% after OPEC+ cuts fall short of expectations Read More »
MUMBAI (Reuters) – Indian conglomerate JSW Group and China’s SAIC Motor have formed a joint venture in India with a focus on green mobility and to develop the electric vehicle ecosystem, the two companies said in a statement on Thursday. JSW will take a 35% stake in the new Indian joint venture, the companies said. …
JSW, China’s SAIC form new India venture for green mobility Read More »
(Reuters) – The U.S. Food and Drug Administration (FDA) said on Thursday it is looking into reports of leaks, breakages and other quality problems with plastic syringes manufactured in China. The agency was conducting further investigations along with federal partners and may prevent plastic syringes made in China from entering the U.S. market, if necessary, …
US FDA probes quality issues with China-made plastic syringes Read More »
(Reuters) -PricewaterhouseCoopers affiliates in Hong Kong and China and a Chinese audit firm have agreed to pay a total of $7.9 million in fines for failures related to audits of U.S.-listed Chinese companies, the U.S. accounting watchdog said on Thursday. The penalties come over a year after Beijing and Washington struck a landmark deal that …
PwC affiliates, Chinese firm to pay $7.9 million for US audit failures Read More »
HONG KONG (Reuters) – China International Capital Corp (CICC), the country’s third-largest investment bank by market value, has told analysts not to publish bearish views on China’s economy or its financial markets, according to an internal memo seen by Reuters. The memo, which was sent to the bank’s research department, also told them to refrain …
Analysts at China’s CICC told not to publish bearish views, wear luxury items -memo Read More »
By Andrea Shalal and Leah Douglas WASHINGTON (Reuters) -U.S. Agriculture Secretary Tom Vilsack on Wednesday said China took advantage of lower prices for corn in Brazil, leading to a nearly 20% drop in U.S. exports to China, but he expected the numbers to rise again over time. At the same time, he told Reuters in …
By Alessandro Parodi, Simon Jessop and Libby George GDANSK/LONDON (Reuters) – Low-income countries are struggling to access insurance, catastrophe bonds and other hedging mechanisms that could help protect them from the economic fallout of climate change, industry sources told Reuters. Helping these countries, which face some of the biggest risks from climate change, access these …
Analysis-Hedging climate risk a COP28 focus for poorer countries Read More »
OSLO (Reuters) – Denmark’s Orsted said on Thursday it has been granted a 1.6 gigawatt (GW) electricity business licence (EBL) in South Korea for an offshore wind project located 70 km (43 miles) off the coast of Incheon City. Subject to a final investment decision, the project is expected to be South Korea’s largest offshore …
Orsted wins licence for South Korea offshore wind project Read More »
By Clare Jim, Scott Murdoch and Xie Yu HONG KONG (Reuters) – China Evergrande Group, the world’s most indebted property developer, is seeking to avert a potentially imminent liquidation with a last-minute debt restructuring proposal, three people with direct knowledge of the matter said. The defaulted company has until a Hong Kong court hearing on …
Exclusive-China Evergrande seeks to avoid liquidation with last-ditch debt plan-sources Read More »
