By Howard Schneider and Tom Sims WASHINGTON/FRANKFURT (Reuters) -Stress in the banking sector is being closely monitored for its potential to trigger a credit crunch, a U.S. Federal Reserve policymaker said on Sunday, as a European Central Bank official also flagged a possible tightening in lending. Authorities around the world are on high alert for …
Banking stress puts U.S. and Europe on watch for credit crunch Read More »
By Davide Barbuscia NEW YORK (Reuters) – Some investors and analysts are calling for more coordinated interventions from central banks to restore financial stability, as they fear that tumult in the global banking sector will continue amid rising interest rates. After the collapse of two U.S. lenders this month and last weekend’s Swiss-government-orchestrated takeover of …
As banking sector confidence falters, central banks called on to do more Read More »
SINGAPORE (Reuters) – China Petroleum & Chemical Corp, better known as Sinopec Corp, recorded a 6.9% decline in net income for 2022, as Chinese fuel demand was hit by Beijing’s COVID-19 control measures and consumption of petrochemicals also weakened. Net profit last year amounted to 66.3 billion yuan ($9.65 billion), based on Chinese accounting standards, …
Sinopec’s 2022 net profit falls 6.9% as COVID curbs hit fuel, chemicals demand Read More »
SHANGHAI (Reuters) – Apple CEO Tim Cook on Saturday used his first public remarks on his visit to China to praise the country for its rapid innovation and its long ties with the U.S. iPhone maker, according to local media reports. Apple CEO Tim Cook on Saturday used his first public remarks in China in …
Apple CEO praises China’s innovation, long history of cooperation on Beijing visit Read More »
MUMBAI (Reuters) – India summoned Canada’s High Commissioner on Sunday to “convey strong concern” over Sikh protesters in Canada and how they were allowed to breach the security of India’s diplomatic mission and consulates. According to Canadian media reports, hundreds of protesters gathered in front of the Indian consulate in Vancouver on Saturday over demands …
India summons Canada High Commissioner, concerned over Sikh protesters Read More »
BEIJING (Reuters) -International Monetary Fund chief Kristalina Georgieva said on Sunday that risks to financial stability have increased and called for continued vigilance although actions by advanced economies have calmed market stress. The IMF managing director reiterated her view that 2023 would be another challenging year, with global growth slowing to below 3% due to …
IMF says risks to financial stability have increased, calls for vigilance Read More »
MANILA (Reuters) – Philippines Finance Secretary Benjamin Diokno said on Sunday he believed that the central bank was leaning towards a pause in interest rate rises at its next monetary policy meeting scheduled for May. “Non-monetary measures to ease inflation could address the problem more effectively”, including those already adopted by fiscal authorities, Diokno said …
Philippine minister says pause in rate rises likely at next bank meeting Read More »
(Reuters) – Honduras has ended its decades-long relationship with Taiwan and said it only recognised China, leaving Taiwan with formal diplomatic relations with only 13 countries. China views democratically governed Taiwan as part of its territory with no right to state-to-state ties, a position Taiwan’s government strongly disputes. Over the years, China has slowly whittled …
Factbox-And then there were 13: Taiwan’s diplomatic allies Read More »
(Reuters) – Twitter Inc CEO Elon Musk has offered the social-media company’s employees stock grants at a valuation of nearly $20 billion, the Information reported on Saturday, citing a person familiar with an email Musk sent to Twitter staff. The reported valuation is less than half of the $44 billion that Musk paid to acquire …
Elon Musk puts $20 billion value on Twitter – The Information Read More »
BEIJING (Reuters) -The foundation of China’s economic recovery is not solid enough, a senior Communist Party official said on Saturday, warning of possible spillover effects from global economic problems. Some countries have to play a balancing act as they try to stabilise their economies, prices and financial markets, said Han Wenxiu, deputy head of the …
Foundation of China’s economic recovery not solid enough – party official Read More »
