EXCLUSIVE China in talks with automakers on EV subsidy extension -sources
China is in talks with automakers about extending costly subsidies for electric vehicles (EV) that were set to expire in 2022, aiming to keep a key market growing as the broader economy slows, three people familiar with the matter said.
UK unemployment hits 48-year low, pushing up pay
Britain’s jobless rate hit a 48-year low in the first three months of 2022 and employers paid bigger bonuses to keep or attract staff, according to data that added to bets by investors on further Bank of England interest rate hikes.
China Resources in talks to take Sihuan Pharma private at $3 bln valuation -sources
State conglomerate China Resources is in early-stage talks with Sihuan Pharmaceutical’s (0460.HK) chairman about jointly taking the Hong Kong-listed company private in a deal valuing it at nearly $3 billion, two people with knowledge of the matter said.
Analysis: Markets must face up to tightening financial conditions
Already sitting on double-digit losses this year, stock market investors must brace for more, as the realisation sinks in that the U.S. Federal Reserve intends to tighten financial conditions to get on top of red-hot inflation.
HSBC shares rise as markets warm up to break-up proposal by top shareholder
Shares in HSBC Holdings gained on Tuesday after its largest shareholder, Chinese insurance giant Ping An (601318.SS), urged a break-up of the London-headquartered bank in a bid to improve returns.
PayPal shares rise despite cut in annual profit view
PayPal Holdings Inc (PYPL.O) shares traded higher Wednesday even after the company lowered its full-year profit outlook, signaling that payments volumes could take a hit from surging inflation and the conflict in Ukraine.
Analysis: China struggles for options as COVID threatens economic goals
China’s policymakers are struggling to find ways to ward off an economic slowdown that threatens job losses in a politically sensitive year, as COVID-19 lockdowns disrupt supply chains and jolt businesses.
Temasek-backed oil rig builders agree $6.3 bln merger amid sector downturn
Singapore’s Sembcorp Marine (Sembmarine) (SCMN.SI) has agreed to a S$8.7 billion ($6.29 billion) merger with Keppel Corp’s (KPLM.SI) larger offshore and marine unit, a year after the Temasek-backed firms began deal talks amid an industry downturn.
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.
Analysis: U.S. trucking downturn foreshadows possible economic gloom
Craig Fuller monitors millions of transactions between U.S. truckers and their customers as chief executive of transportation data company FreightWaves – and he does not like what he is seeing.
