Linking Asia’s financial markets will help the region respond to the next crisis
Just as past crises triggered international and regional financial cooperation, the pandemic offers an opportunity to collectively improve financial resilience and soundness.
The little engine that could, and the oil giant that couldn’t
Last December, when a week-old hedge fund named Engine No. 1 challenged Exxon Mobil to change its ways, laughter echoed through Wall Street circles, from the fund’s name that recalled a famous children’s book to its tiny, then-$40 million stake in what was once the world’s largest publicly traded company.
U.S. weekly jobless claims drop sharply; second-quarter GDP growth unrevised at 6.4 pct
The number of Americans filing new claims for unemployment benefits dropped more than expected last week as layoffs subsided, with companies desperate for workers to meet surging demand unleashed by a rapidly reopening economy.
EXCLUSIVE China bars banks from selling commodities-linked products to retail buyers -sources
China’s banking regulator has asked lenders to stop selling investment products linked to commodities futures to mom-and-pop buyers, three people with knowledge of the matter told Reuters, to curb investment losses amid volatile commodity prices.
Analysis: If not now, when? COVID-19 spurs global push to tackle wealth gap
Governments worldwide, facing strong evidence that fallout from COVID-19 has widened wealth gaps as well as wrecking economies, have expanded social safety nets and in some cases begun exploring bolder ways of tackling the imbalances.
What you need to know about the coronavirus right now
Here’s what you need to know about the coronavirus right now.
Asian shares step back from 2-wk highs, dollar firm
Asian shares retreated from two-week highs on Thursday and China started on the backfoot on fears central banks were closer to considering winding back their emergency stimulus while the dollar held at a one-week top.
HSBC exits loss-making U.S. retail banking as part of Asia pivot
HSBC (HSBA.L) announced it is withdrawing from U.S. mass market retail banking by selling some parts of the money-losing business and winding down others, a long-awaited move as the lender steps up a shift in focus to Asia, its biggest market.
U.S. trade chief Tai says U.S. faces ‘very large challenges’ on China
U.S. Trade Representative Katherine Tai said on Wednesday that the United States still faces “very large challenges” in its trade and economic relationship with China that require the Biden administration’s attention across the board.
EXCLUSIVE KPMG managers back liquidation of Singapore firms in $1 bln nickel scandal
Singapore firms accused of being involved in a $1.1-billion bogus nickel trading scheme should be placed in liquidation as there was no business to be preserved, interim judicial managers at accounting firm KPMG have said in a document seen by Reuters.
