SYDNEY (Reuters) – Asian shares flatlined on Wednesday as worries about global recession and endless trade wars vied with hopes for a lot more monetary and fiscal stimulus to keep growth going. Much depends on what the Federal Reserve does with U.S. interest rates, making markets hyper-sensitive to the minutes – due later on Wednesday […]

MUMBAI (REUTERS) – Southeast Asia’s biggest bank DBS Group Holdings is preparing to enter the local credit card market in India in 2020, a senior company executive said on Tuesday (Aug 20). The Singapore lender’s move highlights its efforts to tap growth outside its home market to offset weakness in the local economy. “We will […]

ASPEN, Colo./WASHINGTON (Reuters) – The U.S. Justice Department is working with a group of more than a dozen state attorneys general as it moves forward with a broad investigation into major technology companies, the department’s antitrust chief, Makan Delrahim, said on Tuesday. Delrahim said at a tech conference in Colorado the government is looking at […]

(Reuters) – Refiner Philadelphia Energy Solutions PESC.N is laying off the majority of its unionized workforce on Tuesday and Wednesday, the union’s president said, ahead of an initial layoff deadline. PES began dismissing a small number of union workers last Thursday, before an earlier-stated Aug. 25 termination date, as the company idles its fire-damaged refinery […]

(Reuters) – Walmart Inc (WMT.N) sued Tesla Inc (TSLA.O), saying solar panels supplied by the electric car maker were responsible for fires at about seven of its stores, according to a lawsuit filed in a New York court on Tuesday. The fires destroyed significant amounts of store merchandise and required substantial repairs, totaling hundreds of […]

WASHINGTON (Reuters) – U.S. banking regulators on Tuesday approved changes easing a rule introduced after the 2007-2009 financial crisis that bans banks from trading on their own account, giving Wall Street one of its biggest wins under the Trump administration. The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation […]

WASHINGTON (Reuters) – A U.S. banking regulator announced Tuesday he had approved a final rule simplifying the “Volcker Rule,” which restricts risky profit-seeking trades by banks. Joseph Otting, the Comptroller of the Currency, said in a statement he approved the rule, which addresses “ineffective complexity” in a prior version that may have restricted responsible banking […]

Irish-owned titanium miner Kenmare Resources has announced its first dividend of US 2.66cents per share. This is despite a 20pc decrease in profit before tax to $28.8m (€26m) in the six months to 30 June, according to interim results from the group. Meanwhile, earnings before interest, taxation, depreciation, and amortisation fell 11pc to $42.8m (€38.5m). […]

The swoop for Greene King by Li Ka-shing, Hong Kong’s wealthiest man, may herald the start of many such takeovers for UK assets as the country prepares to leave the EU. As a purely UK company, heavily geared towards spending by British consumers, Greene King has seen its shares hammered since the vote to leave […]

(Reuters) – Walt Disney Co (DIS.N) said on Monday it will launch its Disney+ video streaming service in Canada and the Netherlands on Nov. 12, the same date as its previously announced United States launch. Disney+ will also launch in Australia and New Zealand a week later, the company said in a statement, adding that […]