Reuters Asia Business

(Reuters) -China Evergrande Group said on Friday that its chief executive officer and finance head have resigned after a preliminary probe found their involvement in diverting loans secured by its publicly listed unit to the group. The indebted company was investigating how deposits worth 13.4 billion yuan ($1.99 billion) belonging to the unit, Evergrande Property …

China Evergrande CEO, CFO step down after probe into property services unit Read More »

By Jonathan Cable, Leika Kihara and Dan Burns LONDON/TOKYO/NEW YORK (Reuters) -The global economy looks increasingly likely to be heading into a serious slowdown, just as the highest inflation in a generation prompts central banks to aggressively reverse the ultra-loose monetary policy adopted during the pandemic to support growth, data showed on Friday. Business activity …

Global slowdown fears darken as cost of living bites Read More »

By Joshua Schneyer, Mica Rosenberg and Kristina Cooke LUVERNE, Alabama (Reuters) -A subsidiary of Hyundai Motor Co has used child labor at a plant that supplies parts for the Korean carmaker’s assembly line in nearby Montgomery, Alabama, according to area police, the family of three underage workers, and eight former and current employees of the …

Hyundai subsidiary has used child labor at Alabama factory Read More »

By Chuck Mikolajczak NEW YORK (Reuters) – A gauge of global stocks fell on Friday to end the trading week on a down note after five straight sessions of gains, while the dollar dipped against a basket of major currencies after soft data on U.S. business activity. Wall Street posted modest losses in early trading …

Stocks fall after touching six-week high, dollar weaker after U.S. data Read More »

By Arathy Somasekhar HOUSTON (Reuters) -U.S. crude prices settled below $95 a barrel for the first time since April in choppy trading on Friday after the European Union said it would allow Russian state-owned companies to ship oil to third countries under an adjustment of sanctions agreed by member states this week. U.S. West Texas …

U.S. crude ends below $95/bbl as EU tweaks Russian oil sanctions Read More »

By Saqib Iqbal Ahmed NEW YORK (Reuters) -The U.S. dollar shrugged off early weakness to edge higher against a basket of currencies on Friday, after data showed U.S. business activity shrank for the first time in nearly two years in July as a services slowdown outweighed manufacturing growth. S&P Global on Friday said its preliminary …

Dollar shrugs off dismal U.S. data to edge higher Read More »