By David Shepardson WASHINGTON (Reuters) -The U.S. House Foreign Affairs Committee voted on Wednesday along party lines to give President Joe Biden the power to ban Chinese-owned TikTok, in what would be the most far-reaching U.S. restriction on any social media app. Lawmakers voted 24 to 16 to approve the measure to grant the administration …
U.S. House panel approves bill giving Biden power to ban TikTok Read More »
By Lawrence Delevingne and Nell Mackenzie (Reuters) -Two of three major Wall Street stock indexes declined on Wednesday, while Treasury yields marched higher, as new inflation indicators from China, Germany and the U.S. hardened expectations that high interest rates would be in force longer than expected. China’s official manufacturing purchasing managers’ index (PMI) rose to …
US stocks mostly decline, Treasuries dip as inflation worries linger Read More »
By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden’s pick to head the World Bank, ex-Mastercard CEO Ajay Banga, met on Wednesday with executive directors at the bank as he launched a “charm offensive” to win the post, sources familiar with the plans said. Biden last week nominated the 63-year old Indian-born business executive …
US pick to head World Bank, ex-Mastercard CEO Banga, starts ‘charm offensive’ Read More »
By Laura Sanicola (Reuters) -Oil prices settled up slightly on Wednesday as signs of ample supply, including growing U.S. crude inventories, offset growing hopes for higher demand after a jump in manufacturing in top crude importer China. Brent crude futures settled up 86 cents, or 1%, to $84.31 a barrel. U.S. West Texas Intermediate crude …
Oil settled up as rising supplies face Chinese demand hopes Read More »
WASHINGTON (Reuters) – A senior U.S. Treasury Department official met with Chinese counterparts in Beijing last week, sources familiar with the matter said, reflecting Treasury’s continued desire to maintain open channels of communication with China. Robert Kaproth, a deputy assistant secretary focused on Asia, held technical discussions aimed at improving the ability of both countries …
US Treasury official visited China last week, sources say Read More »
LONDON (Reuters) – Gender inequality in boardrooms will not be eliminated until 2038 if the current improvement in female representation is maintained, data provider MSCI said on Wednesday, adding that progress had even stagnated in the United States. Data modelled by MSCI shows that if the average rate of growth for the number of women …
Gender-equal boards out of reach until 2038, says MSCI Read More »
By Selena Li and Sinead Cruise HONG KONG/LONDON (Reuters) – HSBC’s most vocal minority investors are demanding a vote at the global lender’s 2023 shareholder meeting in May on whether it should devise a formal plan to boost returns by spinning off its lucrative Asian business. Ken Lui, an individual HSBC shareholder and leader of …
HSBC activist shareholder demands AGM vote on Asia business spin-off Read More »
By Polina Devitt and Eric Onstad LONDON (Reuters) – An Indian businessman accused by Trafigura of fraud told the commodity trader he imported Russian nickel and had it processed before rebranding it as Indian to get around financing restrictions, a former Trafigura executive said in an affidavit to a London court. The document suggests possible …
Trafigura says Gupta sought to pass off Russian metal as Indian – court docs Read More »
By Herbert Lash and Samuel Indyk NEW YORK/LONDON (Reuters) -The U.S. dollar slid and China’s yuan gained on Wednesday after Chinese manufacturing activity expanded at its fastest pace in a decade, while the euro rose after German inflation data surged last month and raised rate hike expectations in the euro zone. The Australian and New …
Dollar slips, yuan gains on China PMI; hot inflation lifts euro Read More »
By Linda Pasquini (Reuters) -German sportswear maker Puma on Wednesday gave a forecast for 2023 profit with a midpoint below last year’s number, expecting some impact from currency effects and higher freight and raw material costs. Rising materials and freight costs along with a stronger U.S. dollar, inventory markdowns and higher promotion expenses have pressured …
Puma expects cost pressure on margins to persist in 2023 Read More »
