TOKYO/BANGALORE (Reuters) – SoftBank Group Corp (9984.T) has no plans to increase board oversight of its $100 billion Vision Fund, two sources said, disregarding calls from activist investor Elliott Management and signalling governance reforms have stopped short of the fund. In recent months Chief Executive Masayoshi Son has met other Elliott demands, from launching a […]

LONDON (Reuters) – Britain’s government will double the number of its job coaches as part of a plan to tackle a rise in unemployment triggered by the coronavirus lockdown, the finance ministry said on Saturday. The number of work coaches at British job centres will double to 27,000 at a cost of 800 million pounds […]

One of Britain’s oldest regional newspaper groups has put itself up for sale as it races to find new investors willing to plug a funding deficit exacerbated by the COVID-19 pandemic’s disastrous impact on industry-wide advertising revenues. Sky News has learnt that Archant, which was established in 1845 and publishes titles including the Eastern Daily […]

MILAN (Reuters) – Fiat Chrysler (FCA) said the terms of its merger with France’s PSA had not changed after an Italian newspaper report that it was looking to spin off assets to reduce a planned 5.5 billion euro ($6.2 billion) cash pay-out to its shareholders. FCA (FCHA.MI) said on Friday that it was sticking to […]

TOKYO (Reuters) – The dollar was hemmed into a narrow range on Friday, supported by safe-haven flows as a resurgence of the coronavirus in the United States discouraged some investors from taking on excessive risk. The yuan was stable in offshore trade before data on China’s services sector, but investors may avoid taking big positions […]

WASHINGTON (Reuters) – Federal Reserve Chair Jerome Powell continued to talk regularly with Treasury Secretary Steven Mnuchin and key U.S. lawmakers in May as the United States began to turn the corner on the economic fallout from the coronavirus pandemic, Fed records released on Thursday showed. Powell and Mnuchin conducted 16 phone calls during the […]

NEW YORK (Reuters) – Investors are dialing back expectations that the U.S. Federal Reserve may soon move to implement yield curve control, with some of them welcoming skepticism from the central bank in considering such a move. Federal Reserve minutes released on Wednesday showed serious questions were raised about the strategy. Some bond market players […]

(Reuters) – The gap between the U.S. unemployment rates for Blacks and whites widened further in June, to its largest in five years, underscoring the uneven nature of the nascent recovery from historic job losses triggered by the coronavirus pandemic. Jobless rates for both groups fell in June, but the rate for whites came down […]

LONDON (Reuters) – BlackRock is not exempt from paying value added tax (VAT) on part of a service from an outside supplier to help manage its funds, the European Union’s court ruled on Thursday. The world’s biggest asset manager had argued that it should not have to pay VAT on all the service, as special […]

SINGAPORE (THE BUSINESS TIMES) – Singapore’s largest lender DBS will again this year cut rates on its flagship deposit account from Aug 1 amid a low interest rate environment and macro uncertainties. This comes two months after a set of rate revisions for the DBS Multiplier account that took effect on May 1. The DBS […]