CN

Dollar nears 3-mth low, shares climb after Fed tests the brakes

LONDON, Nov 24 (Reuters) – Shares hit a two-month high and the dollar swooped towards a three-month low on Thursday, after Federal Reserve signals of smaller interest rate rises from next month were followed by the message from Frankfurt that the ECB will plough on. With Wall Street shut for Thanksgiving, it was up to …

Dollar nears 3-mth low, shares climb after Fed tests the brakes Read More »

Foxconn apologises for pay-related error at China iPhone plant after worker unrest

Foxconn says it is working with staff to resolve disputes Major iPhone factory rocked by protests over pay, conditions Apple says it has team on the ground in Zhengzhou TAIPEI/SHANGHAI, Nov 24 (Reuters) – Foxconn (2317.TW) said on Thursday a pay-related “technical error” occurred when hiring new recruits at a COVID-hit iPhone factory in China …

Foxconn apologises for pay-related error at China iPhone plant after worker unrest Read More »

Investors batten down ahead of Fed minutes, Eurozone recession fears grow

Fed minutes awaited US Thanksgiving public holiday on Thursday Stock eke out slim gains globally Eurozone economic data points to recession China hit by rising COVID-19 infections LONDON, Nov 23 (Reuters) – Global shares were little changed on Wednesday as investors kept their eyes peeled for the minutes of a Federal Reserve meeting that could …

Investors batten down ahead of Fed minutes, Eurozone recession fears grow Read More »

Stick-wielding men smash surveillance cameras at China iPhone plant

SHANGHAI, Nov 23 (Reuters) – Men wielding sticks smashed surveillance cameras and windows at a massive campus owned by Apple (AAPL.O) supplier Foxconn (2317.TW) in the Chinese city of Zhengzhou, scenes broadcast live on the Kuaishou short video platform showed on Wednesday. Hundreds of workers protested at the campus, home to the world’s largest iPhone …

Stick-wielding men smash surveillance cameras at China iPhone plant Read More »

Sony to expand Chinese game incubator in Microsoft head-to-head

HONG KONG, Nov 22 (Reuters) – Sony Group Corp (6758.T) said on Tuesday it plans to expand a program to identify and incubate Chinese-made games, in a race with Microsoft Corp (MSFT.O) to tap China’s gaming market. The program will invest more than 1 million yuan ($140,080) in each game it enrols, and will not …

Sony to expand Chinese game incubator in Microsoft head-to-head Read More »

S&P closes at more than two-month high on retail, energy lift

Best Buy up, sees smaller annual sales drop Dollar Tree drops on lower FY profit forecast Manchester United surges on sale report Dow up 1.18%, S&P 500 up 1.36%, Nasdaq up 1.36% NEW YORK, Nov 22 (Reuters) – US stocks rally on Tuesday, with the S&P 500 closing at its highest level in 2-1/2 months, …

S&P closes at more than two-month high on retail, energy lift Read More »

Europe to be hit hardest in global slowdown -OECD

Global growth seen falling from 3.1% in 2022 to 2.2% in 2023 National outlooks vary widely, with UK lagging other economies Central banks urged to keep hiking interest rates PARIS, Nov 22 (Reuters) – The global economy should avoid a recession next year but the worst energy crisis since the 1970s will trigger a sharp …

Europe to be hit hardest in global slowdown -OECD Read More »

Exclusive: China set to fine Ant Group over $1 billion, signaling revamp nears end-sources

HONG KONG, Nov 22 (Reuters) – Chinese authorities are poised to impose a fine of more than $1 billion on Jack Ma’s Ant Group, said six sources with direct knowledge of the matter, setting the stage for ending the fintech company’s two-year long regulatory overhaul. The People’s Bank of China (PBOC), which has been driving …

Exclusive: China set to fine Ant Group over $1 billion, signaling revamp nears end-sources Read More »

NBA champion Golden State Warriors are sued over FTX collapse

Nov 21 (Reuters) – The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange. Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action argument in San Francisco federal court on behalf of “thousands, if …

NBA champion Golden State Warriors are sued over FTX collapse Read More »

China COVID cases weigh on Wall St; disney jumps

Disney up on Iger’s return as CEO S&P 500 energy index leads sectoral falls Grindr slips after rocketing in debut Tesla down on vehicle recall, China COVID concerns Dow up 0.01%, S&P 500 down 0.34%, Nasdaq down 1.05% Nov 21 (Reuters) – Wall Street’s main indexes started the week roughly lower on China saying it …

China COVID cases weigh on Wall St; disney jumps Read More »