By Xie Yu and Scott Murdoch HONG KONG (Reuters) -UBS has promised retention packages to wealth management staff in Asia at Credit Suisse, two people with knowledge of the matter said, as the Swiss bank tries to stem a talent exodus after the takeover of its former rival. In a town hall address at Credit …
UBS offers sweeteners to Credit Suisse Asia wealth bankers to retain talent -sources Read More »
(Reuters) – World Bank President David Malpass set out on Thursday a new road map for private sector participation in project financing across emerging and developing economies as yearly financing needs balloon to $2.4 trillion. The massive financing yearly needs, a new World Bank estimate, could address the effects of climate change, war, and pandemics, …
World Bank seeks more private cash as yearly needs balloon to $2.4 trillion Read More »
By David Shepardson WASHINGTON (Reuters) -Hyundai and Kia are recalling just over 570,000 U.S. vehicles over fire risks and urged owners to park outside and away until getting repairs. The automakers said some vehicles with a tow hitch harness could catch fire due to a short circuit. The models covered are 2022-2023 model year Hyundai …
Hyundai, Kia warn 570,000 U.S. owners to park outside until recalls completed Read More »
By Sheila Dang (Reuters) – Advertisers are seeking any assurances from TikTok, the viral app that helped usher in a wave of short-form video across social media, as the Chinese-owned company again faces a potential ban in the U.S. over national security concerns. When TikTok’s Chief Executive Officer Shou Zi Chew testifies before Congress for …
Potential TikTok ban sends advertisers scrambling Read More »
By Ana Mano BEIJING/SAO PAULO (Reuters) -Efforts by the Brazilian government to lift a month-long ban on beef exports to China paid off on Thursday, as Beijing agreed to resume imports while also approving four new beef-packers based in Brazil, according to authorities in both countries. China’s General Administration of Customs approved the resumption of …
China agrees to resume imports of Brazilian beef, authorizes four new plants Read More »
By Sheila Dang and Rami Ayyub (Reuters) – U.S. lawmakers at a congressional hearing on Thursday accused TikTok of serving harmful content and inflicting “emotional distress” on young users, grilling the Chinese-owned app’s CEO on the company’s outsized influence on teens. Rep. Cathy McMorris Rodgers, a Republican from Washington, kicked off the hearing with TikTok …
TikTok CEO grilled by U.S. lawmakers over ‘dangerous’ content Read More »
By Hannah Lang WASHINGTON (Reuters) – The dollar pared earlier losses on Thursday after the U.S. Federal Reserve sounded close to calling time on interest rate hikes, while the Swiss National Bank and Bank of England pushed ahead with further rate increases. The Fed raised its benchmark funds rate 25 basis points on Wednesday, but …
Dollar pares losses after central banks raise rates Read More »
By Shariq Khan BENGALURU (Reuters) -Oil prices settled 1% lower on Thursday, reversing early gains after U.S. Energy Secretary Jennifer Granholm told lawmakers that refilling the country’s Strategic Petroleum Reserve (SPR) may take several years. Granholm’s comments fed worries about potential oversupply, especially as the Energy Department plans to proceed with an additional release of …
Oil drops 1% as US in no rush to refill strategic reserve Read More »
LONDON (Reuters) – New York kept the top spot in the latest rankings of global financial centres from Z/Yen Group on Thursday, with London and Singapore also unchanged in second and third place. New York overtook London to head the table in September 2018 — two years after Britain voted to leave the European Union …
New York holds top spot, London second in Z/Yen financial centre survey Read More »
By Joe Cash BEIJING (Reuters) – China has never deliberately pursued a trade surplus with the United States, Shu Jueting, a commerce ministry spokesperson, said on Thursday, despite signs that China is continuing to reduce its reliance on American exports. Although American export data published on Feb. 7 shows that exports to China increased by …
China says it has never deliberately pursued trade surplus with U.S Read More »
