covid-19

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Factories across Asia and Europe struggled for momentum in July as flagging global demand and China's strict COVID-19 restrictions slowed…

3 years ago

Oil drops as weak Chinese factory data heightens demand concerns

Oil prices dropped on Monday as weak manufacturing data from China and Japan weighed on the demand outlook while investors…

3 years ago

Sony trims profit forecast after games business falters

Sony Group Corp (6758.T) trimmed its profit forecast on Friday after a weak first quarter for its PlayStation business, which it blamed…

3 years ago

China’s ‘common prosperity’ drive slashes pay and perks for investment bankers

China's well-heeled financial dealmakers are getting a crash course in austerity with pay cuts and perks reined in, as their…

3 years ago

‘Recession is in the air’: German economy stagnates in 2nd quarter

The German economy stagnated in the second quarter, data showed on Friday, with the war in Ukraine, the pandemic and…

3 years ago

Credit Suisse eyes more cost cuts, SonntagsZeitung reports

Credit Suisse (CSGN.S) is considering how it could cut costs further after a dismal performance by the embattled bank in the past…

3 years ago

GLOBAL ECONOMY Global slowdown fears darken as cost of living bites

The global economy looks increasingly likely to be heading into a serious slowdown, just as central banks aggressively reverse ultra-loose…

3 years ago

Bank data shows U.S. consumer financial health holds up amid rising inflation

Americans' financial health held up well in the second quarter even as inflation sent gas and grocery bills higher and…

3 years ago

Big U.S. banks see loan growth slowing as outlook for demand, economy darkens

U.S. bank executives said they're optimistic on loan growth as demand for borrowing from retail and business customers bounced back…

3 years ago

EXCLUSIVE Alibaba cuts a third of deals team staff after regulatory crackdown-sources

Alibaba Group (9988.HK) is cutting over a third of staff in its in-house deals team, four people with knowledge of the matter…

3 years ago