US bill would ban Google and Apple from hosting apps that accept Chinese digital yuan

WASHINGTON, May 26 (Reuters) – Republican senators want to ban U.S. app stores, including Apple and Google, from hosting apps that can make payments with China’s digital currency, fearing the payment system could in Beijing to spy on the Americans. The bill, unveiled on Thursday and first reported by Reuters, states that companies that own … Read more

Alibaba suspends advice due to COVID risks; Resilient Q4 raises stock

The Alibaba Group logo is seen at its office in Beijing, China January 5, 2021. REUTERS/Thomas Peter Join now for FREE unlimited access to Register Fourth-quarter adjusted profit of 7.95 yuan/share vs. estimate of 7.31 yuan/share Fourth-quarter revenue up 9% to 204.05 billion yuan from an estimate of 199.25 billion yuan Analysts say Q4 … Read more

Global stocks rally in relief after Fed minutes

NEW YORK, May 26 (Reuters) – Global stock markets rose broadly on Thursday and bond yields eased as the lack of nasty surprises in the U.S. Federal Reserve’s latest minutes helped ease immediate concerns over the impact of interest rate increases on economic growth. Wall Street extended its rally from Wednesday. By mid-morning, the three … Read more

Oil stabilizes after choppy trade, U.S. says export ban not ruled out

A maze of crude oil pipes and valves are pictured during a Department of Energy visit to the Strategic Petroleum Reserve in Freeport, Texas, U.S. June 9, 2016. REUTERS/Richard Carson Join now for FREE unlimited access to Register Washington hasn’t ruled out export curbs to drive down fuel prices Beijing steps up COVID quarantine … Read more

Stocks tumble on growth worries, bond yields fall

Stocks slide on bearish earnings and economic data China talks about stimulus, but the economic damage is already done Euro close to 4-week high as Lagarde announces July rate hike NEW YORK/LONDON, May 24 (Reuters) – Stocks fell around the world on Tuesday as supply chain issues and soaring costs hurt corporate profits and slowed … Read more

Oh Snap! Social media stocks lose billions after Snapchat parents warn

A woman stands in front of the Snap Inc logo on the floor of the New York Stock Exchange (NYSE) in New York, NY, U.S. March 2, 2017. REUTERS/Lucas Jackson Join now for FREE unlimited access to Register May 24 (Reuters) – Shares of Snap Inc (SNAP.N) plunged more than 40% and sparked an … Read more

Wall Street rallies on higher close boosted by banks and big tech

NEW YORK, May 23 (Reuters) – U.S. stocks ended higher on Monday as bank gains and a rebound by megacap market leaders supported a broad-based rally after Wall Street’s longest streak of weekly declines since the dotcom collapse more than 20 years ago. All three major U.S. equity indices posted solid gains, with the biggest … Read more

Exclusive: General Atlantic plans $2 billion investment in India and Southeast Asia

The logo of the upcoming 2022 World Economic Forum (WEF) is pictured on a window of the congress center in the alpine resort of Davos, Switzerland May 21, 2022. REUTERS/Arnd Wiegmann/File Photo Join now for FREE unlimited access to Register DAVOS, Switzerland, May 22 (Reuters) – Global private equity firm General Atlantic plans to … Read more

Hyundai Motor Group to invest over $10 billion in US through 2025

SEOUL, May 22 (Reuters) – Hyundai Motor Group said on Sunday it will invest an additional $5 billion in the United States by 2025 to boost collaboration with U.S. companies in cutting-edge technologies. The investments, announced during a visit to Seoul by President Joe Biden, relate to robotics, urban air mobility, autonomous driving and artificial … Read more