SHANGHAI (Reuters) – China’s auto sales in May rose 14.5% from the same month a year earlier, industry data showed on Thursday, the second consecutive month of increase as the world’s biggest vehicle market recovers from lows hit during coronavirus lockdowns. The result followed a 4.4% rise in April and a 43% drop in March, […]

SYDNEY (Reuters) – Asian shares swung lower on Thursday while bonds rallied after a downbeat economic outlook from the U.S. Federal Reserve stoked speculation it would have to add to already historic levels of stimulus to underpin a recovery. After a slow start, MSCI’s broadest index of Asia-Pacific shares outside Japan slipped 1.1%, potentially putting […]

NEW YORK (Reuters) – Asian stocks were set to fall on Thursday after gloomy economic projections from the U.S. Federal Reserve sent the greenback and most Wall Street shares lower. Fed officials at their policy meeting on Wednesday said U.S. gross domestic product is expected to decline 6.5% this year. They also flagged the need […]

(Reuters) – It is not too late for small and medium-sized U.S. businesses to benefit from the Federal Reserve’s “Main Street” lending program, Chair Jerome Powell said on Wednesday, even though its launch in the coming days will be nearly three months after the central bank announced the nearly $600 billion program. Planned as the […]

WASHINGTON (Reuters) – U.S. Treasury Secretary Steven Mnuchin said on Wednesday he would seriously consider more direct payments to individuals in the next phase of coronavirus rescue legislation, adding that funds should also be targeted to help sectors struggling to reopen, including hospitality and tourism. Testifying before the U.S. Senate Small Business Committee, Mnuchin said […]

(Reuters) – A group of attorneys general from U.S. states and territories sued 26 manufacturers of dermatology drugs on Wednesday, accusing them of price fixing and other violations of antitrust law, the third such lawsuit since 2016. This lawsuit focuses on 80 topical generic drugs, including creams, gels and ointments, which have billions in dollars […]

SINGAPORE – Attending a course in operational risk management sharpened Ms Kunjammai Sockalingam’s eye to spot potential risks in products OCBC Bank is planning to roll out. Classroom discussions and analysing case studies during the course were among ways that “exposed me to a wide range of issues so that I could better manage potential […]

(Reuters) – Asian equities slipped on Wednesday after most U.S. stocks pared gains made during their recent rally, although the Nasdaq benchmark reached its second straight day at a record high as oil prices rose. Investors adopted a more cautious stance as attention turned to the U.S. Federal Reserve, which wraps up its two-day meeting […]

PARIS (Reuters) – The coronavirus crisis will lead the airline industry into record annual losses of $84 billion as 2020 goes down as the “worst year in the history of aviation”, the sector’s main global body predicted on Tuesday. Airline passenger traffic is expected to rise 55% in 2021 from its depressed level this year, […]

BOSTON (Reuters) – Lawyers for the former Green Beret and son wanted by Japan for helping former Nissan Motor Co (7201.T) boss Carlos Ghosn flee the country on Monday argued U.S. authorities wrongly arrested them for aiding a crime that they say does not exist in Japan: bail jumping. Lawyers for Michael Taylor and his […]