Business

S&P sees no need for an out-of-schedule China rating review: exec

Published 29/05/2017

Standard & Poor's is likely to follow its regular ratings review schedule for China, and does not see any basis at this point for an out-of-schedule committee meeting, a senior director at the ratings agency told Reuters on Monday.

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Asia stocks drift down from 2-year highs, pound nurses losses

Asia stocks drift down from 2-year highs, pound nurses losses

Published 29/05/2017

A man cycles in front of electronic boards showing Japan's Nikkei average (R) and the Dow Jones average (L top) outside a brokerage in Tokyo, Japan, November 10, 2016. REUTERS/Toru Hanai

Asian stocks handed back earlier modest gains and drifted lower on Monday, running short of incentives to push past two-year highs with many key markets closed for holidays.

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As Fed raises rates, aim is not to roil markets, Williams says

As Fed raises rates, aim is not to roil markets, Williams says

Published 29/05/2017

FILE PHOTO - John C. Williams, President and CEO of the Federal Reserve Bank of San Francisco, speaks at the Milken Institute Global Conference in Beverly Hills, California, U.S. on May 2, 2016. REUTERS/Lucy Nicholson/File Photo

The U.S. economy is at or near the Federal Reserve's goals of full employment and stable prices, San Francisco Fed President John Williams said, adding that the U.S. central bank wants to make sure markets stay calm as it slowly returns interest-rate policy to normal.

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Fed`s Williams says medium-term inflation trend `pretty favorable`

Published 29/05/2017

San Francisco Federal Reserve President John Williams said on Monday that medium-term trends in inflation remain "pretty favorable," despite some recent soft U.S. consumer price data.

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Britain`s Heathrow says BA still experiencing some disruptions

Britain`s Heathrow says BA still experiencing some disruptions

Published 29/05/2017

People wait with their luggage at the British Airways check in desks at Heathrow Terminal 5 in London, Britain May 28, 2017. REUTERS/Neil Hall

London's Heathrow Airport said early on Monday that there were still some disruptions to British Airways (ICAG.L) flights from the airport following a global computer system failure at the airline.

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Lenovo`s struggling mobile business sets sight on high-end market

Lenovo`s struggling mobile business sets sight on high-end market

Published 29/05/2017

FILE PHOTO: Lenovo tablets and mobile phones are displayed during a news conference on the company's annual results in Hong Kong May 23, 2013. REUTERS/Bobby Yip/File Photo

After a bruising fall from its spot as the world's third-largest mobile phone maker following its acquisition of Motorola three years ago, China's Lenovo Group Ltd (0992.HK) is counting on a push upmarket to stop the bleeding in its smartphone business.

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Hong Kong property cooling moves set to fail as shadow lenders fill the gap

Hong Kong property cooling moves set to fail as shadow lenders fill the gap

Published 28/05/2017

High rise private residential buildings are seen in Hong Kong, China May 21, 2017. Picture taken May 21, 2017. REUTERS/Bobby Yip

Hong Kong's latest attempt at cooling home prices in one of the world's most expensive property markets is expected to send buyers scouring for loans in the unregulated shadow banking industry, spreading risk across the financial sector.

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Saudi foreign assets keep falling in April amid heavy overseas borrowing

Saudi foreign assets keep falling in April amid heavy overseas borrowing

Published 28/05/2017

A Saudi money exchanger counts Saudi riyals in Riyadh August 4, 2008. REUTERS/Fahad Shadeed

The Saudi Arabian central bank's foreign assets fell in April as the government borrowed heavily abroad, according to official data that suggested Riyadh was bringing money into the country to refill state coffers depleted by low oil prices.

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Saudi to impose tobacco, sugary drinks tax on June 10

Published 28/05/2017

Saudi Arabia will impose a special tax on tobacco and sugary drinks on June 10, as part of a series of steps towards closing a budget deficit caused by low oil prices.

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Switch it up this year: Buy in May, till November stay

Switch it up this year: Buy in May, till November stay

Published 28/05/2017

FILE PHOTO: A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, U.S., December 28, 2016. REUTERS/Andrew Kelly/File Photo

"Sell in May and go away" is perhaps the oldest saw on Wall Street, but it appears there's no shortage of U.S. mutual funds doing exactly that this year.

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