MOSCOW, May 29 (Reuters) – HSBC (HSBA.L), opens new tab has transferred ownership of its Russian unit to Expobank for an undisclosed fee, the two lenders said on Wednesday, ending around two years of negotiations and uncertainty. HSBC’s exit from Russia has…
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China has doubled down on efforts to achieve self-sufficiency in its semiconductor industry by creating the country’s largest-ever chip investment fund, disregarding mounting pressure from US tech sanctions and a track record of corruption in these state-led programmes. The third phase of the China Integrated Circuit Industry…
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Hong Kong-based credit investment firm SC Lowy is raising a private debt fund with a target size of up to US$800 million, nearly eight times larger than its first one. The move shows financial institutions such as SC Lowy are…
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May 28 (Reuters) – JPMorgan Chase is in close contact with local officials after a building explosion in Youngstown, Ohio, a bank spokesperson said in response to questions after a video of the purported blast was posted on X. The…
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May 28 (Reuters) – Meme stock GameStop (GME.N), opens new tab soared nearly 20% in premarket trading on Tuesday after the struggling videogame retailer said it had raised over $900 million from selling its shares during the market rally earlier this month. GameStop surged as much…
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China is doubling down on its plan to dominate advanced technologies of the future by setting up its largest-ever semiconductor state investment fund, according to information posted by a government-run agency. Worth $47.5 billion, the fund is being created as the US imposes sweeping…
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Inter Milan president Steven Zhang said the Serie A champions’ financial stability was being threatened by investment fund Oaktree as owners Suning scrambled to repay a debt of almost 400 million euros on Tuesday. Simone Inzaghi’s Inter team were officially…
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BERLIN, May 27 (Reuters) – German Chancellor Olaf Scholz and France’s President Emmanuel Macron warned in a joint opinion piece for the Financial Times that the European Union had to make dramatic efforts to improve its competitiveness or risk seeing…
Read moreBEIJING, May 27 (Reuters) – China’s latest steps to revive its struggling property market could pose risks to banks operating in lower-tier cities, S&P Global said on Monday. The measures announced earlier this month such as cutting down payment requirements and removing…
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ALO 5.00%increase; green up pointing triangle is to raise of about 1 billion euros ($1.08 billion) in share capital as its works to reduce its debt levels. The French train maker said Monday that under rights issue, shareholders are entitled to received…
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