SHANGHAI/HONG KONG (Reuters) – U.S. President Donald Trump’s administration is considering forcing Chinese firms to delist from U.S. stock exchanges, according to sources, a move that would escalate U.S.-China tensions and could throw some of China’s biggest companies into chaos. It was not clear how the delistings might be done, but the…
Month: September 2019
Saudi Aramco restored oil output to pre-attack level: trading unit chief
FILE PHOTO: Workers are seen at the damaged site of Saudi Aramco oil facility in Abqaiq, Saudi Arabia, September 20, 2019. REUTERS/Hamad l Mohammed FUJAIRAH, United Arab Emirates (Reuters) – Saudi Aramco has restored full oil production and capacity to the levels they were at before attacks on its facilities on Sept.…
WeWork throws in the towel on its ill-fated IPO
(Reuters) – WeWork’s parent The We Company said on Monday it will file to withdraw its initial public offering, a week after the SoftBank-backed office-sharing startup ousted founder Adam Neumann as its chief executive officer. The withdrawal of its IPO prospectus formalizes the end of the New York-based company’s pursuit of a…
Egypt operator owed $7.7 million by Thomas Cook: chairman
CAIRO (Reuters) – Thomas Cook has dues of 125 million Egyptian pounds ($7.7 million) to local operator Blue Sky Group, Blue Sky’s chairman Hossam El-Shaer said on Monday. Shaer did not give further details. Thomas Cook, the world’s oldest travel firm, collapsed last week, sparking a major tourist repatriation effort and a…
Thomas Cook customers may face two-month delay for refunds: watchdog
FILE PHOTO: A Thomas Cook Scandinavia Airbus A330 plane takes off from Las Palmas in the Canary Islands, Spain, September 25, 2019.REUTERS/Borja Suarez (Reuters) – Britain’s aviation regulator said on Monday that refunds of bookings by Thomas Cook customers could take longer than expected as the regulator does not have all information…
Stocks inch higher as investors downplay escalating trade war
NEW YORK (Reuters) – A rise in U.S. technology stocks and better-than-expected economic data in China pushed global equity markets higher Monday, despite reports that Washington was considering escalating its trade war with China by delisting Chinese companies from U.S. exchanges. U.S. President Donald Trump is looking at the move as part…
Apple and Microsoft push Wall Street higher as trade worries abate
(Reuters) – U.S. stocks climbed on Monday, helped by gains in Apple, Microsoft and Merck & Co, as investors set aside worries about the U.S.-China trade war. FILE PHOTO: Traders work on the floor at the New York Stock Exchange (NYSE) in New York, U.S., September 23, 2019. REUTERS/Brendan McDermid Shares of…
Forever 21 closing stores in bankruptcy filing shows limits to fast fashion
(Reuters) – Fast-fashion retailer Forever 21 filed for bankruptcy late on Sunday, joining a growing list of brick-and-mortar companies that have seen sales hit by the rise of competition from online sellers like Amazon.com Inc (AMZN.O) and the changing fashion trends dictated by millennial shoppers. Forever 21 Inc, the privately held company…
On U.S. delisting threat, China says ‘decoupling’ would harm both sides
BEIJING (Reuters) – China warned on Monday of instability in international markets from any “decoupling” of China and the United States, after sources said the Trump administration was considering delisting Chinese companies from U.S. stock exchanges. The move would be part of a broader effort to limit U.S. investment in Chinese companies,…
Oil falls, Brent posts biggest quarterly drop this year on demand fears
HOUSTON (Reuters) – Oil prices fell on Monday on fading concerns of supply shortfalls and conflicts in the Middle East after the Sept. 14 attack on Saudi Arabia, but global benchmark Brent posted its biggest quarterly loss this year on demand fears due to the escalating U.S.-China trade war. Brent crude LCOc1…
How Iran’s President Left Trump Hanging, and Macron in the Hall
The telephone line had been secretly set up. President Trump waited on the other end. All President Hassan Rouhani of Iran had to do was come out of his hotel suite and walk into a secure room where Mr. Trump’s voice would be piped in via speaker. Mr. Rouhani and his aides…
Shuping Wang, Who Helped Expose China’s Rural AIDS Crisis, Dies at 59
Shuping Wang, a Chinese doctor who braved the loss of her job as well as ostracism, assault and the destruction of her first marriage to expose the spread of AIDS in rural China, died on Sept. 21 in Salt Lake City. She was 59. She died while hiking in a canyon with…
Lebanon’s Prime Minister Gave $16 Million to South African Model
BEIRUT, Lebanon — The prime minister of Lebanon gave more than $16 million to a South African bikini model who said they had a romantic relationship after they met at a luxury resort in the Seychelles, according to South African court documents obtained by The New York Times. The prime minister, Saad…
U.S. Treasury says no plans to block Chinese listings ‘at this time’: Bloomberg
(Reuters) – The United States does not currently plan to stop Chinese companies from listing on U.S. exchanges, Bloomberg reported on Saturday, citing a U.S. Treasury official. “The administration is not contemplating blocking Chinese companies from listing shares on U.S. stock exchanges at this time,” Bloomberg quoted bloom.bg/2obHkDb Treasury spokeswoman Monica Crowley…
China says will open more sectors of economy to foreign investors
Chinese Vice Commerce Minister and Deputy China International Trade Representative Wang Shouwen attends a news conference on the Shanghai Free Trade Zone, in Beijing, China, August 6, 2019. REUTERS/Jason Lee BEIJING (Reuters) – China will open up more sectors of the economy to foreign investors, and its policy of protecting foreign companies’…
Hong Kong’s sky-high property prices prove resilient in face of protests
HONG KONG (Reuters) – While months of Hong Kong protests have scared away tourists, sent jitters across the financial center and cast a dark cloud over the local economy, there’s one thing residents of the city are confident they can bank on – sky-high property prices. FILE PHOTO: Anti-extradition bill protesters march…
Exclusive: Nasdaq cracks down on IPOs of small Chinese companies
(Reuters) – Nasdaq Inc (NDAQ.O) is cracking down on initial public offerings (IPOs) of small Chinese companies by tightening restrictions and slowing down their approval, according to regulatory filings, corporate executives and investment bankers. FILE PHOTO: Two women hold umbrellas as they walk past the Nasdaq MarketSite in New York’s Times Square,…