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Euro zone upbeat on growth despite Omicron, to continue fiscal support

6 Dec 2021

By Jan Strupczewski BRUSSELS (Reuters) -Euro zone finance ministers remained upbeat on Monday about economic growth prospects despite the Omicron coronavirus variant, and they agreed to continue moderately supportive fiscal policy next year. The Omicron variant has increased concern among some economists that more lockdowns could be in store, which could lower growth after this …

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Myanmar’s deposed leader Suu Kyi found guilty in widely criticised trial

6 Dec 2021

(Reuters) -A court in military-ruled Myanmar found deposed leader Aung San Suu Kyi guilty of charges of incitement and breaching coronavirus restrictions on Monday, drawing international condemnation of what critics described as a “sham trial”. https://www.reuters.com/world/asia-pacific/un-rights-boss-bachelet-deplores-suu-kyi-conviction-sham-trial-statement-2021-12-06/https://www.reuters.com/world/asia-pacific/un-rights-boss-bachelet-deplores-suu-kyi-conviction-sham-trial-statement-2021-12-06 Suu Kyi is set to serve two years in detention at an undisclosed location, a sentence reduced from four …

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Evergrande moves toward restructuring; state swoops in to contain risk

6 Dec 2021

By Clare Jim HONG KONG (Reuters) – China Evergrande Group has set up a risk management committee as the cash-strapped property developer inches closer to a debt restructuring that has loomed for months over global markets and the world’s second-largest economy. The real estate giant, which is grappling with over $300 billion in liabilities and …

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Bank investment chiefs signal China and emerging market caution

6 Dec 2021

LONDON (Reuters) -Market volatility and uncertainty over China’s indebted property sector is making bank investment chiefs cautious about its assets, amid more general nervousness about broader emerging markets. “I would take a wait-and-see approach on emerging markets,” Credit Suisse global chief investment officer Michael Strobaek told the Reuters annual Investment Outlook Summit. “I would take …

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Investors brace for potential hit to earnings because of Omicron

6 Dec 2021

By Caroline Valetkevitch NEW YORK (Reuters) – As details of a new COVID-19 variant emerge, investors are bracing for a potential hit to U.S. corporate earnings, particularly among retailers, restaurants and travel companies. News of the Omicron variant comes in the middle of the holiday shopping period, and many businesses are already struggling with higher …

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Odyssey buys drugmaker BenevolentAI in Europe’s biggest SPAC deal

6 Dec 2021

By Emma-Victoria Farr and Paul Sandle LONDON (Reuters) -Amsterdam-listed Odyssey has agreed to buy BenevolentAI in a deal valuing the British-based pharmaceuticals firm at up to 1.5 billion euros after the transaction, the biggest acquisition by a European special purpose acquisition vehicle (SPACs) to date. Odyssey, a 300 million euro ($338 million) SPAC backed by …

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From Siberia to the U.S, wildfires broke emissions records this year

6 Dec 2021

By Kate Abnett BRUSSELS (Reuters) – Wildfires produced a record amount of carbon emissions in parts of Siberia, the United States and Turkey this year, as climate change fanned unusually intense blazes, the European Union’s Copernicus Atmosphere Monitoring Service said on Monday. Wildfires emitted 1.76 billion tonnes of carbon globally in 2021, Copernicus said. That’s equivalent …

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Norway’s Aker Solutions says Malaysia manager cleared of charges

6 Dec 2021

OSLO (Reuters) – The head of the Malaysian unit of Norway’s Aker Solutions has been cleared by a court of accusations that he submitted false documents in dealings with state-owned energy company Petronas, the Norwegian company said on Monday. Ahmad Hatta Kamaruzzaman, who was charged in June over the allegations, had pleaded not guilty, his …

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