Author: Press Room
© Reuters Today’s trading session highlighted a significant policy move by the People’s Bank of China (PBOC) as it set a new benchmark rate for the (CNY), allowing a trading variance of up to 2% from this rate against the US dollar. This decision is a strategic signal from China’s central bank, often indicating policy directions and adjustments. The previous session closed with the onshore yuan at 7.1650 to the dollar. The offshore yuan (CNH), which trades as in markets, continues to operate without any imposed trading boundaries, reflecting more market-driven dynamics compared to its onshore counterpart. The PBOC’s actions…
A Democratic Senate candidate in Michigan said he was offered $20 million by a Michigan businessman to drop out of the race and instead take on a primary challenge against Rashida Tlaib, the Palestinian American representative who was censured this month for her statements about the Israel-Gaza war.Linden Nelson, a Michigan businessman and past donor to Democratic and some Republican candidates, made the campaign funding offer to the Senate candidate, Hill Harper, last month, according to Karthik Ganapathy, a spokesman for Mr. Harper’s campaign. Mr. Nelson also donated $13,000 to Concerned Citizens of Michigan, a group that supported a primary…
This past earnings season saw shares of many firms trade much higher after announcing favorable quarterly results. Among them was wireless network equipment […]
Stay informed with free updatesSimply sign up to the US-China relations myFT Digest — delivered directly to your inbox.Mintz Group is struggling to secure the release of five local employees detained in China, said people familiar with the matter, eight months after a raid on the US due diligence firm’s Beijing office alarmed foreign investors in the country.In the first confirmation of the Mintz employees’ plight since their disappearance during the March raid, people familiar with the matter said they were being held by the Beijing public security bureau, which was investigating them for potential criminal wrongdoing related to their…
© Reuters. FILE PHOTO: Chinese national flags are seen in front of the financial district Central on the Chinese National Day in Hong Kong, China October 1, 2023. REUTERS/Tyrone Siu BEIJING (Reuters) – An investment fund backed by China’s National Social Security Fund was launched in Shanghai, with a size of 5.1 billion yuan ($707.24 million) for its first phase, the financial regulatory authority in Shanghai said on Thursday. The fund, to be managed by investment firm IDG Capital, will focus on supporting innovation in the city of Shanghai alongside the Yangtze River Delta region, the Shanghai authority said. The…
© Reuters. Blair Thomas, CEO of EIG, poses in an undated handout photo obtained January 5, 2021. Danthi Comunicacoes/via REUTERS THIS IMAGE HAS BEEN SUPPLIED BY A THIRD PARTY. SYDNEY (Reuters) – EIG Partners CEO Blair Thomas said on Thursday the consortium behind the $10.6 billion bid for Origin Energy was “done” negotiating with top shareholder AustralianSuper in an attempt to gain its backing for the offer. Thomas said he believed AustralianSuper, which holds 16.5% of Origin, was acting against the best interests of the company’s remaining shareholders. EIG is part of the consortium led by Canada’s Brookfield.
© Reuters. FILE PHOTO: The sun is seen behind a crude oil pump jack in the Permian Basin in Loving County, Texas, U.S., November 22, 2019. Picture taken November 22, 2019. REUTERS/Angus Mordant/File Photo (Reuters) -Oil prices fell by more than 1% on Thursday, extending losses from the previous session, after OPEC+ postponed a ministerial meeting, leading to speculation that producers might cut output less than earlier anticipated. futures were down $1.04, or 1.3%, at $80.92 a barrel by 0230 GMT, after falling as much as 4% on Wednesday. U.S. West Texas Intermediate crude dipped 90 cents, or 1.2%, to…
Methanex says Egypt methanol facility impacted by outage
A group of 20 Romanian nationals — including two with organized crime ties — were nabbed Tuesday after illegally entering the U.S. from the Canadian border, authorities say. Border Patrol agents apprehended the subjects after four vehicles were observed crossing the international boundary from Canada into the United States, according to a press release from U.S. Customs and Border Protection (CBP). Romanian nationals were observed by Border Patrol agents crossing into the U.S. in vehichles early Tuesday morning. (US Border Patrol Houlton Sector)Agents were alerted to the illegal crossing just after 6 a.m., and responded to the area on Lincoln Road…
Chris Jankowski, the chief executive of Never Back Down, stepped down on Wednesday, per The Times.The pro-DeSantis super PAC had been plagued by infighting for weeks as they’ve struggled to dethrone Trump.DeSantis was recently endorsed by a prominent Iowa conservative, but he’s still behind in the state. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app Florida Gov. Ron DeSantis, who had been viewed as the top conservative alternative to former President Donald Trump in the 2024 Republican presidential primaries, has witnessed his White House…