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Reuters reveals HSBC and Ping An executives plan to discuss breakup proposalon May 4, 2022 at 11:03 am

Reuter exclusively reported HSBC and Ping An executives plan to meet in mid-May to discuss the Chinese insurer’s proposal that the bank should explore strategic options such as spinning off its Asian business. Ping An, the biggest shareholder in HSBC, called on the London-headquartered bank last week to look at ways to boost returns in a move viewed by some analysts as potentially being driven more by politics than finances.

The post Reuters reveals HSBC and Ping An executives plan to discuss breakup proposal appeared first on Reuters News Agency.

Reuters reveals Marcos could control hunt for family’s wealth as Philippines’ presidenton May 3, 2022 at 6:00 am

Philippines presidential candidate Ferdinand Marcos Jr., along with his mother Imelda, has long tried to thwart efforts to recover billions of dollars plundered during his father’s autocratic rule. If Marcos becomes president in elections on May 9, he will have the authority to appoint the head of the agency set up to recover the family’s riches. But a Reuters review of court filings, government documents and legal depositions by the presidential candidate, along with interviews with former investigators and lawyers, underscore the role Marcos has played in protecting the family’s wealth and thwarting efforts to retrieve it. 

The post Reuters reveals Marcos could control hunt for family’s wealth as Philippines’ president appeared first on Reuters News Agency.

Reuters reveals Shanghai authorities helped Tesla reopen factory, letter showson May 3, 2022 at 8:23 am

Reuters revealed Shanghai authorities helped Tesla transport over 6,000 workers and carry out necessary disinfection work to reopen its factory last month amid the city’s lockdown. A letter that Tesla sent to local officials, seen by Reuters, outlined the lengths to which the city went to help the U.S. automaker, indicating Tesla’s importance to Shanghai as the city tries to restart business while curbing the spread of COVID-19.

The post Reuters reveals Shanghai authorities helped Tesla reopen factory, letter shows appeared first on Reuters News Agency.

Reuters reveals India agency summons former Xiaomi head in investigationon April 12, 2022 at 7:29 pm

Reuters revealed India’s federal financial crime fighting agency has summoned a former India head of China’s Xiaomi, in an investigation of whether the company’s business practices conformed with Indian foreign exchange laws. The Enforcement Directorate has been probing the company since at least February, and in recent weeks asked Manu Kumar Jain, Xiaomi’s former India managing director, to appear before its officers.

The post Reuters reveals India agency summons former Xiaomi head in investigation appeared first on Reuters News Agency.

Reuters reveals Three-quarters of Japan firms bemoan current yen weakness as bad for businesson April 13, 2022 at 9:07 pm

Reuters poll found that more than three-quarters of Japanese firms say the yen has declined to the point of being detrimental to their business, with almost half of companies expecting a hit to earnings. The results of the Reuters Corporate Survey are one of the clearest signs yet that much of Japan Inc is struggling with higher costs and worsening consumer demand caused by the yen’s weakness.

The post Reuters reveals Three-quarters of Japan firms bemoan current yen weakness as bad for business appeared first on Reuters News Agency.

Reuters reveals Troops burn villages in Myanmar heartland, seek to crush resistanceon April 14, 2022 at 4:23 am

Reuters shed light into how rubble and ashes, overlooked by a single golden pagoda, are almost all that remain of the wood and brick houses most people had built for themselves in the quiet riverside village of Bin in the Buddhist heartland of central Myanmar. Bin is one of more than 100 villages partially or completely burned by Myanmar’s military since the start of this year, its homes among more than 5,500 civilian buildings razed as troops try to suppress opposition to last year’s coup.

The post Reuters reveals Troops burn villages in Myanmar heartland, seek to crush resistance appeared first on Reuters News Agency.

Reuters reveals BlackRock plans first China ETF product this yearon April 13, 2022 at 3:37 am

Reuters exclusively reported BlackRock plans to launch its first product in China’s $220 billion onshore exchange-traded fund (ETF) market later this year and has started hiring staff accordingly. The world’s largest money manager, which thrives on the rise of passive investing with 70% of its $10 trillion global portfolio in ETFs and index funds, will be the first wholly owned foreign fund manager to tap the onshore Chinese ETF market.

The post Reuters reveals BlackRock plans first China ETF product this year appeared first on Reuters News Agency.

Reuters reveals Oil traders to cut Russian oil purchases from May 15on April 13, 2022 at 5:54 pm

Reuters was first to report that major global trading houses are planning to reduce crude and fuel purchases from Russia’s state-controlled oil companies as early as May 15 to avoid falling foul of European Union sanctions on Russia. The EU has not imposed a ban on imports of Russian oil in response to Russia’s invasion of Ukraine, because some countries such as Germany are heavily dependent on Russian oil and do not have the infrastructure in place to swap to alternatives. 

The post Reuters reveals Oil traders to cut Russian oil purchases from May 15 appeared first on Reuters News Agency.

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