G7 leaders will endorse 15pc global minimum corporate tax

G7 leaders meeting in Britain will endorse US President Joe Biden’s proposal for global minimum tax of at least 15 per cent on corporations, White House national security adviser Jake Sullivan said on Twitter on Friday.
12 June 2021, 18:00 PM

Foreign firms shocked by China’s anti-sanctions law

China’s quick rollout of a law against foreign sanctions has left European and American companies shocked and facing “irreconcilable” compliance issues, two top business groups said Friday, despite Beijing saying the move would unlikely impact investment.
12 June 2021, 18:00 PM

Biden considers giving refiners relief from US biofuel laws

President Joe Biden’s administration, under pressure from labor unions and US senators including from his home state of Delaware, is considering ways to provide relief to US oil refiners from biofuel blending mandates, three sources familiar with the matter said.
12 June 2021, 18:00 PM

Fed meeting looms for stocks as inflation worries collide with ‘Goldilocks’ markets

Investors will be zeroing in on the Federal Reserves monetary policy meeting next week as a “Goldilocks” market environment that has helped lift stocks to record highs and tamed a bond selloff is tested by rising inflation.
12 June 2021, 18:00 PM

G7 leaders agreed to keep the money taps open

Leaders of the Group of Seven rich nations were in broad agreement about the need to continue supporting their economies with fiscal stimulus after the ravages of the Covid-19 pandemic, a source familiar with the discussions said on Friday.
12 June 2021, 18:00 PM

US regulators urge financial firms to quickly ditch Libor rate benchmarks

US financial regulators urged market participants on Friday to accelerate their efforts to detach financial products from Libor interest rate benchmarks, while casting doubt on new benchmarks built to compete with their preferred replacement.
12 June 2021, 18:00 PM

New AMD for Shun Shing Group Hong Kong

Seven Rings Cement’s mother organisation Shun Shing Group Hong Kong recently witnessed the appointment of a new additional managing director (AMD) for its Bangladesh operation.
12 June 2021, 18:00 PM

Indian airline IndiGo reports fifth straight quarterly loss

Interglobe Aviation Ltd, which runs India’s biggest airline IndiGo, reported its fifth straight quarterly loss on Saturday, as the Covid-19 pandemic kept air travel well below normal levels.
6 June 2021, 18:00 PM

Reckitt to sell China baby formula business for $2.2b

British consumer goods maker Reckitt Benckiser Group Plc said on Saturday it was selling its infant formula and child nutrition (IFCN) business in China to investment firm Primavera Capital Group for an enterprise value of $2.2 billion.
6 June 2021, 18:00 PM

Biden rejects new Republican infrastructure offer

President Joe Biden and Republicans entered the weekend sharply at odds over how to craft an infrastructure deal that could satisfy their camps, imperiling the odds of a bipartisan deal.
6 June 2021, 18:00 PM

Airlines press US on refusal to lift Covid-19 travel restrictions

Major airlines are pressing the United States government on its decision not to move quickly to relax Covid-19 restrictions that block travelers who have been in much of Europe and elsewhere even as other countries began to ease prohibitions.
5 June 2021, 18:00 PM

Powell, Lagarde split over central bank role in climate policy

US Federal Reserve chief Jerome Powell said Friday it was not the central bank’s role to set climate policy, a stance rejected by European counterpart Christine Lagarde who warned that “the planet is burning”.
5 June 2021, 18:00 PM

US hiring underwhelms in May as economic reopening hits turbulence

The United States added 559,000 jobs last month as hard-hit sectors rehired workers laid off during the worst days of the pandemic, but analysts warned the virus was continuing to complicate the economy despite massive government stimulus.
5 June 2021, 18:00 PM

US leisure and hospitality pay surges to a record

Hotels, restaurants and other businesses are boosting pay as they try to rebuild their staffs and meet increasing demand from Americans ready to venture out as pandemic-related restrictions are lifted and more people are vaccinated.
5 June 2021, 18:00 PM

India cenbank says focused on growth as inflation not ‘persistent’

The Reserve Bank of India (RBI) kept interest rates at record lows on Friday and announced additional bond purchases to support the economic recovery, at risk of being derailed by a devastating second wave of Covid-19 infections.
5 June 2021, 18:00 PM

Canada loses more jobs in May but summer hiring boom looms

Canada lost more jobs than expected in May amid continued lockdowns to curb a harsh third wave of Covid-19, data showed on Friday, but economists were quick to predict a rush of hiring in June as those restrictions ease.
5 June 2021, 18:00 PM

India’s factory activity growth slips in May as demand falls

India’s factory activity growth slowed significantly in May as an escalation in coronavirus cases whacked new orders and output while scarcity of raw materials drove up input costs, a private sector survey showed on Tuesday.
1 June 2021, 18:00 PM

China’s third-child policy boosts shares in toy, diaper makers

Shares in Chinese toy makers, diaper producers and infant food companies soared for the second day on Tuesday, as investors piled into stocks seen as benefitting from Beijing’s new three-child policy.
1 June 2021, 18:00 PM

Tesla’s vehicle price increases due to supply chain pressure, Musk says

The price of Tesla vehicles is increasing due to supply chain pressures across the auto industry, particularly for raw materials, Elon Musk said on Monday in response to a tweet
1 June 2021, 18:00 PM

Eurozone factory growth, input costs hit record highs in May

Eurozone manufacturing activity expanded at a record pace in May, according to a survey on Tuesday which suggested growth would have been even faster without supply bottlenecks that have led to an unprecedented rise in input costs.
1 June 2021, 18:00 PM