EXCLUSIVE Retailers and unions extend legally binding worker safety accord in Bangladesh – sources
Major global retailers have agreed to extend for a further two years a legal agreement with garment workers and factory owners in Bangladesh that subjects retailers to legal action if their factories fail to meet labour safety standards, according to a copy of the agreement seen by Reuters on Wednesday.
South Korea’s youth debt binge shows no sign of slowing as rate hike looms
When South Korea announced new lending curbs last month, Joe Park, a 34-year-old grocery chain purchasing manager, scrambled to borrow more money before the tighter rules took effect.
BOJ policymaker warns of global impact from chip crunch, Asia factory closures
A shortage of semiconductor chips may persist for the rest of this year if the coronavirus pandemic keeps Southeast Asian factories shut, a Bank of Japan policymaker said, highlighting supply constraints as among key risks to the global economy.
U.S.-China group seeking to bolster financial ties to meet in autumn- source
A group of Wall Street figures and Chinese officials aiming to strengthen financial sector ties and bolster bilateral relations plans to hold a virtual meeting for the first time in a year, a person familiar with the matter said on Wednesday.
Marketmind: Europe’s powerhouse just isn’t feeling it
As the COVID-19 Delta variant and supply chain disruptions persist globally, damage inflicted on business sentiment in Europe’s biggest economy could become clear in Wednesday’s Ifo German business sentiment index.
Afterpay loss widens on higher marketing spend to tap new markets
Afterpay Ltd (APT.AX) said on Wednesday its annual marketing costs more than doubled as it entered new markets to tap a pandemic-driven boom in buy now, pay later (BNPL) services, widening the Australian company’s loss ahead of Square’s buyout.
China c.bank increases cash injections to soothe tightening worries
China’s central bank increased short-term fund injections into the financial system on Wedneday, in a bid to soothe market worries over tightening liquidity.
Oil steadies near $71 after two-day rally
Oil prices steadied near $71 a barrel, taking a breather after a strong rally in recent days as Mexico was set to resume crude production following a major outage.
Citi considering bitcoin futures trading for some institutional clients
Citigroup Inc (C.N) is considering offering bitcoin futures trading for some institutional clients, a spokesperson for the bank said on Tuesday, citing increased demand in the cryptocurrency space.
Wall St extends rally, pushing S&P 500 to 50th all-time high close this year
Wall Street ended higher in a late-summer, light volume rally on Tuesday as the FDA’s full approval of a COVID-19 vaccine on Monday and the absence of negative catalysts kept risk appetite alive ahead of the much-anticipated Jackson Hole Symposium.
