HONG KONG (Reuters) – Hong Kong’s June retail sales slipped 1.2% from a year earlier tracking a slight drop in the previous month, government data showed on Tuesday. Sales eased to HK$27.7 billion ($3.53 billion), having decreased a revised 1.6% in May. In volume terms, retail sales fell 4.1% year-on-year in June, compared with a …
By Selena Li and Anshuman Daga HONG KONG/SINGAPORE (Reuters) -HSBC’s bosses will meet retail investors in Hong Kong on Tuesday, seeking to convince them that a strategy to operate as a unified bank is better for its future than a break-up mooted by top shareholder Ping An Insurance Group Co of China. The London-headquartered group …
HSBC aims to placate Hong Kong investors after rejecting break-up call from Ping An Read More »
By Stephen Culp NEW YORK (Reuters) – Wall Street ended a three-day winning streak and crude prices plunged on Monday as economic data from the U.S., Europe and China showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite. All three major U.S. indexes ended the choppy session modestly lower …
U.S. stocks slip, crude slides as soft data feed recession jitters Read More »
By Alexandra Alper and Karen Freifeld WASHINGTON (Reuters) – The United States is considering limiting shipments of American chipmaking equipment to memory chip makers in China including Yangtze Memory Technologies Co Ltd (YMTC), according to four people familiar with the matter, part of a bid to halt China’s semiconductor sector advances and protect U.S. companies. If …
U.S. considers crackdown on memory chip makers in China Read More »
SHANGHAI (Reuters) – China’s CATL said on Monday its vice chairman and deputy general manager Huang Shilin had resigned and would leave the battery maker to explore business opportunities elsewhere. The departure of Huang, a billionaire who holds a near 11% stake in CATL, comes amid a broader reshuffle that will also see Chairman Zeng …
China’s CATL reshuffles management as billionaire executive exits Read More »
By Scott Murdoch (Reuters) -Alibaba Group Holding Ltd said on Monday it would work to maintain its New York Stock Exchange listing alongside its Hong Kong listing after the Chinese e-commerce giant was placed on a delisting watchlist by U.S authorities. Alibaba stock closed down nearly 3.8% in a near-flat Hong Kong market, following its …
China’s Alibaba strives to keep New York listing amid audit dispute Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – The U.S. dollar was at its lowest level since mid-June against the Japanese yen on Monday as investors weighed the likelihood that the Federal Reserve will not raise interest rates as aggressively as some had expected. The U.S. dollar index was volatile after data showed U.S. manufacturing activity …
Dollar falls against yen as investors reassess U.S. rate hike outlook Read More »
By Lawrence White and Anshuman Daga LONDON/SINGAPORE (Reuters) – HSBC pushed back on a proposal by top shareholder Ping An Insurance Group Co of China to split the lender, a move Europe’s biggest bank said would be costly, while posting profits that beat expectations and promising chunkier dividends. London-headquartered HSBC’s comments on Monday represent its …
HSBC rejects Ping An break-up call, promises higher dividend Read More »
By Lucia Mutikani and Jonathan Cable WASHINGTON/LONDON (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July as flagging global demand and China’s strict COVID-19 restrictions slowed production, surveys showed on Monday, likely adding to fears of economies sliding into recession. A series of purchasing managers’ indexes (PMIs) for July …
Factories squeezed by higher prices, weak demand Read More »
HONG KONG (Reuters) – China’s gaming regulator on Monday granted publishing licences to 69 online games, including titles belonging to developers such as G-bits Network Technology Xiamen Co Ltd and iDreamSky. Titles belonging to tech companies Tencent and NetEase Inc were not on the approved list published by the National Press and Public Administration. (The …
