After $4.4 bln New York IPO, founders of China’s Didi eye global growth
From working at a foot massage company to setting up China’s biggest ride-hailing firm, Will Wei Cheng has navigated several hurdles on the path to taking Didi Global Inc (DIDI.N) public in a $4.4-billion New York float.
Orange to launch experimental 5G network amid telecom rush to the cloud
Orange (ORAN.PA) said on Wednesday it will launch an experimental 5G network using a cloud-based open platform and artificial intelligence in July, as the telecom industry rushes to shift services onto the cloud in a bid to cut costs and modernise.
What inflation? Pandemic leaves emerging Asia’s consumer recovery behind
Asia’s once fast-growing economies are struggling with weak domestic demand that is keeping a lid on inflation in contrast to some developed markets, heightening the chance many central banks will forgo interest rate hikes this year.
EXCLUSIVE Energy trader Mercuria posts record profit for volatile 2020
Mercuria Energy Group had a boom year in 2020, buoyed by the extreme volatility seen in oil markets caused by the COVID-19 pandemic, as well as very strong returns across its portfolio, particularly gas and power.
International tourism not seen rebounding until 2023 – UN report
International tourism arrivals are set to stagnate this year, except in some Western markets, causing up to $2.4 trillion in losses, a U.N. study said on Wednesday, adding the sector is not expected to rebound fully until 2023.
European shares fall on inflation, pandemic woes
European shares fell on Wednesday as worries about rising inflation and the Delta variant of the novel coronavirus hit economically sensitive sectors, even as technology stocks tracked an overnight surge in their U.S. peers.
China manufacturing slows as supply shortages roil Asia industry
Growth in China’s June factory activity dipped to a four-month low on higher raw material costs, a shortage of semiconductors and a COVID-19 outbreak in the major export province of Guangdong, amid wider supply chain disruptions in Asia.
Asian shares rise after consumer confidence boosts Nasdaq to record high
Asian shares rose and a gauge of global equities hovered near record highs on Wednesday after rising consumer confidence in economic recovery boosted the Nasdaq index to its highest-ever closing level.
Fed’s Waller: 2022 rate hike possible, wants MBS taper first
A “very optimistic” Federal Reserve Governor Christopher Waller on Tuesday said the U.S. central bank may need to start dialing down its massive asset purchase program as soon as this year to allow the option of raising interest rates by late next year.
U.S. consumer confidence at 16-month high; house price inflation heating up
U.S. consumer confidence jumped to its highest level in nearly 1-1/2 years in June as growing labor market optimism amid a reopening economy offset concerns about higher inflation.
