By Supantha Mukherjee, Martin Coulter and Krystal Hu (Reuters) – Nic Szerman lost his job at Meta Platforms in November, just two months after joining full-time, falling victim to a sweeping 13% reduction of its workforce as the advertising market cratered. Days later he was back working, seeking investment for his own company Nulink, a …
SHANGHAI (Reuters) – A Chinese court has ruled that an underwriter and two other intermediaries failed to conduct due diligence adequately and were responsible for up to 20% of a loss of more than $72 million by Bluestone Asset Management Co, the court said. Bluestone, which incurred the 500 million yuan ($72.38 million) loss investing …
Court rules against underwriter in China’s first interbank bond fraud case Read More »
By Sarita Chaganti Singh and Nikunj Ohri (Reuters) – India aims to cut spending on food and fertiliser subsidies to 3.7 trillion rupees ($44.6 billion) in the fiscal year from April, down 26% from this year, two government officials said, to rein in a fiscal deficit that ballooned during the COVID-19 pandemic. Food and fertiliser …
India aims for $17 billion cut in food, fertiliser subsidies in 2023/24 – sources Read More »
SHANGHAI (Reuters) -A Chinese government financing unit in the southwestern Guizhou province said it will extend the maturity of bank loans worth 15.6 billion yuan ($2.3 billion) by 20 years. China’s local governments, especially those in less-developed regions such as Guizhou, are struggling to meet debt obligations in an economy hit by COVID and a …
Govt financing vehicle in China’s Guizhou region extends debt by 20 years Read More »
By David Milliken LONDON (Reuters) -British manufacturers are starting 2023 on the back foot, after they reported one of their sharpest falls in activity since the 2008-09 recession last month, reflecting a sharp fall in new orders and ongoing job cuts. The S&P Global/CIPS UK manufacturing Purchasing Managers’ Index (PMI) sank to 45.3 in December …
UK factories face tough 2023 after December weakness Read More »
A look at the day ahead in U.S. and global markets from Dhara Ranasinghe, Editor, Financial Markets EMEA, Thomson Reuters. The holidays are over and it’s back to work, so markets are no exception. And the yen, for starters, is intent on leaving a dismal 2022 behind. It was the worst-performing major currency versus the …
By Kanishka Singh (Reuters) – A teenager accused of attacking three policemen with a machete on New Year’s Eve near Times Square was charged with attempted murder and attempted assault, New York police said on Monday, in an incident the New York Times said was linked to Islamic extremism. The New York City Police Department …
Suspect in New Year’s Eve NYC police attack reportedly linked to Islamic extremism Read More »
By Richard Cowan WASHINGTON (Reuters) – U.S. Supreme Court Chief Justice John Roberts on Saturday focused a year-end report on the judiciary on the need for stepped up security for federal judges, amid a surge in threats and as the United States is embroiled in a bitter debate over abortion. Roberts’ nine-page annual report came …
Judicial security focus of U.S. Chief Justice Roberts’ annual report Read More »
By Jonathan Stempel NEW YORK (Reuters) -JPMorgan Chase & Co and Deutsche Bank AG asked a U.S. judge to dismiss lawsuits by women who accused Jeffrey Epstein of sexual abuse, and said the banks enabled and ignored red flags about the late financier’s sex trafficking. The banks in papers filed on Friday night in Manhattan …
JPMorgan, Deutsche Bank seek dismissal of lawsuits by Jeffrey Epstein accusers Read More »
By Sarita Chaganti Singh and Nikunj Ohri (Reuters) – The Indian government is considering selling 2.1 million tonnes of wheat in open market to control food inflation and a final decision will be taken in the next 10 days, two government officials told Reuters on Tuesday. The intervention is being planned by the government via …
India govt to take final call on selling wheat in open market in 10 days – sources Read More »
