China Vice Premier Liu soothes tech firms, supports overseas listings

China Vice Premier Liu soothes tech firms, supports overseas listings

China’s Vice Premier Liu He exits the office of the US Trade Representative following a morning round of negotiations on the second day of last ditch trade talks in Washington, US, May 10, 2019. REUTERS/Leah Millis/Files Register now for FREE unlimited access to Reuters.com Register SHANGHAI, May 17 (Reuters) – Chinese Vice Premier Liu He … Read more

Allianz to pay $6 billion in US fraud case, fund manager charged

Allianz to pay $6 billion in US fraud case, fund manager charged

NEW YORK/MUNICH, May 17 (Reuters) – Germany’s Allianz SE (ALVG.DE) agreed to pay more than $6 billion and its US asset management unit will plead guilty to criminal securities fraud over the collapse of its Structured Alpha funds early in the COVID-19 pandemic. Allianz’s settlements with the US Department of Justice and US Securities and … Read more

Shanghai hits prized ‘zero COVID’ status but lockdown lingers

Shanghai hits prized 'zero COVID' status but lockdown lingers

Shanghai goes three days with no new community infections Only a few signs of a gradual re-opening Amcham warns COVID controls hamper foreign investment SHANGHAI/BEIJING, May 17 (Reuters) – Shanghai achieved its long-awaited milestone of three consecutive days with no new COVID-19 cases outside quarantine zones on Tuesday but most residents will have to put … Read more

Musk seeks proof on share of spam bot on Twitter for deal to progress

Musk seeks proof on share of spam bot on Twitter for deal to progress

May 17 (Reuters) – Elon Musk said on Tuesday his $44 billion offer would not move forward until Twitter Inc (TWTR.N) shows proof that spam bots account for less than 5% of its total users, hours after suggesting he could seek a lower price for the company. “My offer was based on Twitter’s SEC filings … Read more

Walmart stores expected to post high shopper traffic amid deepening inflation pain

Walmart stores expected to post high shopper traffic amid deepening inflation pain

NEW YORK, NY, May 16 (Reuters) – Walmart Inc (WMT.N) is expected to show a steady rise in gross margins and revenue when it reports first-quarter results on Tuesday as price conscious shoppers, feeling the strain of persistent inflation , increase visits to the low-cost retailer. Walmart has averaged a 4.9% increase in monthly visits … Read more

Johnny Depp’s attorneys challenge Amber Heard on abuse claims

Johnny Depp's attorneys challenge Amber Heard on abuse claims

May 16 (Reuters) – Attorneys for actor Johnny Depp began their questioning of Amber Heard in the couple’s defamation trial on Monday and challenged the “Aquaman” star’s claims that she suffered physical abuse before and during their brief marriage. Depp’s attorneys introduced photographs of Heard making public appearances on red carpets and “The James Corden … Read more

JetBlue goes hostile to buy Spirit Airlines after rejection

JetBlue goes hostile to buy Spirit Airlines after rejection

CHICAGO/WASHINGTON, May 16 (Reuters) – JetBlue Airways Corp (JBLU.O) is not taking no for an answer in its quest to buy rival Spirit Airlines (SAVE.N). On Monday, the New York-based carrier launched a hostile all-cash takeover bid for Spirit Airlines, two weeks after the low-cost carrier rejected an offer from the larger rival. JetBlue, which … Read more

China’s economy skids as lockdowns hit factories, retailers

China's economy skids as lockdowns hit factories, retailers

April industrial output unexpectedly falls y/y April retail sales fall faster than expected Nationwide jobless rate highest since Feb 2020 Fixed asset investment growth slower than f’cast BEIJING, May 16 (Reuters) – China’s retail and factory activity fell sharply in April as wide COVID-19 lockdowns confined workers and consumers to their homes and severely disrupted … Read more

Asia stocks struggle after say China data

Asia stocks struggle after say China data

Traders are seen in front of a screen with trading figures in red at Thailand Stock Exchange building in Bangkok, Thailand March 13, 2020. REUTERS/Juarawee Kittisilpa/Files Register now for FREE unlimited access to Reuters.com Register Asian stock markets: China retail sales dive 11.1%, output drops 2.9% Nikkei pares gains, S&P 500 futures turn lower Dollar … Read more

Shanghai aims to reopen more businesses shut by COVID, Beijing battles on

Shanghai aims to reopen more businesses shut by COVID, Beijing battles on

Shanghai malls, shops to gradually resume in-store operations Some Beijing districts extend work-from-home guidance Shanghai lockdown frustrates, infuriates residents Curbs have rattled global supply chains SHANGHAI/BEIJING, May 15 (Reuters) – Shanghai will gradually begin reopening businesses such as shopping malls and hair salons in China’s financial and manufacturing hub from Monday after weeks in strict … Read more