As global rates turn, banks in India and Indonesia set to win
As Asia's banking sector navigates a peak in global interest rates and risks of slower growth, investors are wagering that banks in...
Oil prices fall amid OPEC+ meeting delay and rising US crude stocks
Oil prices dropped by about 1% on Thursday, extending the losses from the previous day, as the OPEC+ group of oil producers...
Binance CEO pleads guilty, resigns in $4.3bn US settlement
Changpeng Zhao, also known as CZ, admitted to facilitating transactions with terrorist groups, child abuse websites, and ransomware hackers
Citigroup employees brace for layoffs, management overhaul – sources
Citigroup (C.N) employees expect the bank to announce layoffs and senior management changes on Monday as part of its biggest reorganization in decades,...
Exclusive: IMF chief says Biden-Xi engagement an important signal for world to cooperate
International Monetary Fund Managing Director Kristalina Georgieva said on Friday this week's meeting between U.S. President Joe Biden and Chinese President Xi...
Oil prices slip on US crude build and China demand worries
Oil prices edged lower on Thursday, extending losses from the previous session as signals of higher supply from the United States met...
China’s biggest lender ICBC hit by ransomware attack
The Industrial and Commercial Bank of China's (ICBC) U.S. arm was hit by a ransomware attack that disrupted trades in the U.S....
Developing economies owe China at least $1.1trn: report
Developing economies owe Chinese lenders a staggering $1.1 trillion, with over half of the thousands of loans extended by China over the...
Maersk cutting at least 10,000 jobs as shipping boom unravels
Shipping group A.P. Moller-Maersk (MAERSKb.CO), reported a steep drop in third-quarter profit and revenue on Friday and said it would cut at...
Oil to stay modest in 2023, but Mid-East war could escalate prices, warns World Bank
The World Bank's latest Commodity Markets Outlook report anticipates a drop in global oil prices to an average of $81 per barrel...
Ukraine war orders starting to boost revenues for big US defense contractors
The Russian invasion of Ukraine in 2022 is starting to boost defense contractors' revenues, as customers such as the U.S. government restock...
Honda, GM scrap $5bn plan to co-develop cheaper EVs
Honda Motor (7267.T) and General Motors (GM) (GM.N) are scrapping a plan to jointly develop affordable electric vehicles (EVs), the companies said on Wednesday, just...
China, world’s top graphite producer, to curb exports of key battery material
China said on Friday it will require export permits for some graphite products to protect national security, in its latest move to...
Chinese chip equipment makers grab market share as US tightens curbs
As the U.S. tightens its restrictions on China's semiconductor industry, Chinese manufacturers of tools used to make chips are benefiting, with orders...
Exclusive: China tells banks to roll over local government debts as risks mount – sources
China has told state-owned banks to roll over existing local government debt with longer-term loans at lower interest rates, two sources with...