KEY POINTS Biden warned in the executive order that certain American investments may contribute to “the development of sensitive technologies and products in countries that develop them to counter United States and allied capabilities.” China says the order “seriously disrupts the security of the global industrial and supply chains.” Beijing stopped short of immediately issuing […]
Amazon.com Inc. is in talks to join other tech companies as an anchor investor in Arm Ltd.’s initial public offering, according to a person familiar with the situation, part of preparations for a deal that could raise as much as $10 billion. Amazon is one of several tech companies that have talked to Arm about […]
SINGAPORE – Deutsche Bank is selectively increasing headcount in divisions such as investment banking and private banking ahead of what it believes could be a rebound in those areas. This comes four years after the German bank executed a major restructuring that saw it cut costs and hive off unproductive divisions to focus on four […]
Anti-dumping tariffs and countervailing duties were imposed in mid-2020 at the height of trade tensions between China and Australia. This move will alleviate China supply concerns after Russia withdrew from the Black Sea Grain Initiative, a humanitarian pact to deliver key Ukrainian grains to global markets. Australia “welcomes” this outcome, expects similar process to follow […]
Amazon.com (NASDAQ:AMZN) reported second-quarter results that topped analysts’ estimates and delivered upbeat guidance for Q3 as growth in its cloud business topped estimates. Amazon.com rose more than 8% in pre-market Friday trading following the report. Amazon reported Q2 EPS of $0.65 on revenue of $134.4 billion, beating estimates of $0.35 on revenue of $131.45B. Net sales in […]
US and European long-only fund managers were net sellers of Chinese and Hong Kong stocks in July, according to Morgan Stanley. The nascent rebound in Chinese shares is at risk of becoming yet another false dawn as foreign investors seem unconvinced that policymakers can revive a faltering economy. US and European long-only fund managers were […]
Country Garden Holdings cancelled a HK$2.34 billion (US$300 million) share placement, IFR reported, citing a message sent to investors, the latest setback for one of China’s largest private-sector developers. The primary share placement was cancelled shortly after midnight, sole bookrunner JPMorgan Chase told investors, according to the report. Earlier, IFR said Country Garden was offering […]
According to a forecast by investment bank Goldman Sachs, India will overtake the United States as the world’s second largest economy by 2075. The report said that the main downside risk for India’s economic growth would be if the labour force participation rate does not increase. By India Today Business Desk: India is projected to […]
The boss of British bank Standard Chartered does not anticipate a further acquisition approach from First Abu Dhabi Bank as a six-month cooling off period required by UK takeover rules comes to an end. The London-listed bank has been the subject of speculation this year around a possible sale to FAB, the UAE’s biggest lender. […]
The Federal Reserve resumed raising interest rates and chair Jerome Powell left open the possibility of further hikes, which he emphasized will depend on incoming data that has recently signalled a resilient US economy. After pausing rate increases in June, policymakers lifted borrowing costs again at their policy meeting on Wednesday for the 11th time […]