HSBC profit falls on credit charges as economic outlook worsens
HSBC (HSBA.L) has shelved plans for fresh stock buybacks this year after reporting an unexpected hit to its capital on Tuesday, as a cocktail of rising inflation, geopolitical drama and economic weakness dented its prospects.
Netflix feels the heat as pandemic boom fizzles
Netflix Inc (NFLX.O) shares lost more than a quarter of their value in premarket trading on Wednesday after the company reported its first drop in subscribers in a decade, leaving Wall Street questioning its growth in the face of fierce competition and post-pandemic viewer fatigue.
Analysis: Wealth shock – property bust in small Chinese cities rattles households
Home owners in small Chinese cities are battling a rare property market downdraft as buyers keep away, eroding the wealth of millions in a blow to already brittle consumer confidence in the world’s second-largest economy.
Oil dips in volatile trade amid demand concerns, supply disruptions
Oil prices slipped in volatile trading on Tuesday as investors weighed demand concerns against tight global supplies after Libya halted some exports and as factories in Shanghai prepared to reopen following a COVID-19 shutdown.
OPEC tells EU it’s not possible to replace potential Russian oil supply loss
OPEC told the European Union on Monday that current and future sanctions on Russia could create one of the worst ever oil supply shocks and it would be impossible to replace those volumes, and signalled it would not pump more.
Oil rises on OPEC warning and easing of Shanghai COVID curbs
Oil prices climbed on Tuesday as Shanghai’s relaxation of some COVID-19 restrictions eased concerns about Chinese demand and as OPEC warned it would be impossible to replace potential supply losses from Russia.
Sri Lanka unilaterally suspends external debt payments, says needs money for essentials
Sri Lanka’s central bank said on Tuesday it had become “challenging and impossible” to repay external debt, as it tries to use its dwindling foreign exchange reserves to import essentials like fuel.
Oil slides on release of strategic reserves and China lockdowns
Oil prices dropped by more than $2 a barrel on Monday after a second straight weekly decline on plans to release record volumes of crude and oil products from strategic stocks and on continuing coronavirus lockdowns in China.
Analysis: With capital markets jittery, private equity pounces to finance tech buyouts
When buyout firm Thoma Bravo LLC was seeking lenders to finance its acquisition of business software company Anaplan Inc (PLAN.N) last month, it skipped banks and went directly to private equity lenders including Blackstone Inc (BX.N) and Apollo Global Management Inc (APO.N). Within eight days, Thoma Bravo secured a $2.6 billion loan based partly on annual recurring revenue, one of the largest of its kind, and announced the $10.7 billion buyout. The Anaplan deal was the latest example of what capital market insiders see as the growing clout of private equity firms’ lending arms in financing leveraged buyouts, particularly of technology companies.
Indonesia to impose VAT, income tax on crypto assets from May
Indonesia plans to charge value-added tax (VAT) on crypto asset transactions and an income tax on capital gains from such investments at 0.1% each, starting from May 1, a tax official said on Friday, amid a boom in digital asset trading.
