By Brenna Hughes Neghaiwi and Simon Jessop ZURICH/LONDON, May 14 (Reuters) - When markets slumped in March as the spread of coronavirus gathered pace, wealth managers' trading volumes soared as ultra-rich clients reshuffled their portfolios. It was this market frenzy that helped Swiss banks UBS and Credit Suisse – the world's...
Raymond Zhong (New York Times) SHENZHEN, China Huawei, the Chinese technology powerhouse, is challenging the Federal Communications Commission in court for choking off its sales in the United States, the latest in the besieged company’s widening efforts to hit back at regulators and critics across the globe. The FCC voted last month...
"Fix the money, fix Myanmar" This is the slogan of Myanmar Dollar-MYD, the newly emerged cryptocurrency, which is intended to counter the junta’s grip on Myanmar Kyat. This is one of the facets of the revolution against the coup. Unlike A-May Suu Token, a crypto token that emerged after the...
Vladimir Soldatkin (Reuters) SOCHI, Russia Russian President Vladimir Putin and his Chinese counterpart Xi Jinping last week oversaw the launch of a landmark pipeline that will transport natural gas from Siberia to northeast China, an economic and political boost to ties between Moscow and Beijing. The start of gas flows via the...
Barbara Lewis (REUTERS) LONDON European steel lobby Eurofer plans to raise concerns with the European Commission over Chinese group Jingye's proposed rescue of British Steel, saying the deal may flout rules on fair competition. In what would be the first takeover by a Chinese company of steel mills in the European Union,...
Ana Swanson and Alan Rappeport (New York Times) The United States and China have settled on final terms of a phase one trade deal, moving both countries closer to signing a pact that President Donald Trump originally announced in October, four people familiar with the negotiations said. Trump met with his...
By Josh Horwitz SHANGHAI, May 22 (Reuters) - The latest U.S. government action against China's Huawei takes direct aim at the company's HiSilicon chip division -- a business that in a few short years has become central to China's ambitions in semiconductor technology but will now lose access to tools...
HONG KONG Chinese manufacturers and sellers of drug ingredients say logistical hurdles and labor shortages due to the coronavirus epidemic are delaying some production and shipments, adding to concerns about the potential for drug shortages globally as the virus spreads. China, along with India, is a key link in the world’s...
Clyde Russell (Reuters) LAUNCESTON, Australia Coal prices around the world are gently sliding as demand from top importers such as China, India and even Europe remains subdued amid a so far mild northern winter. However, there is one exception. South African coal export prices at Richards Bay have surged in recent months,...
LAUNCESTON Profits at Asian refineries are being buffeted by a combination of factors, chief among them uncertainty over how exactly new shipping fuel standards will play out and the rise of China as a product exporter. Refinery margins in Asia have been knocked to the lowest since the financial crisis in...