(Bloomberg) -- China is bucking the global trend of greater economic stimulus amid the coronavirus, preferring instead to refocus on controlling its record debt burden. Policy makers are allowing for tighter liquidity in the financial system, a signal that Beijing wants to stabilize the level of debt in the economy. Though not as aggressive...
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LONDON (Reuters) - Children's bank account app gohenry said on Tuesday it had raised $40 million to fund expansion in its home market of Britain and in the United States. Gohenry, which was founded eight years ago, offers accounts for children charging parents 2.99 pounds ($3.99) per month. It is used by 1.2 million parents and children. A raft of fintechs have...
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HONG KONG (Reuters) - Goldman Sachs Group Inc (NYSE:GS) has signed a pact with its China joint venture partner to wholly own the business, becoming the latest foreign bank to take advantage of the opening up of the financial sector in the world's second-largest economy. The process to boost its stake in the Goldman Sachs Gao Hua (GSGH) venture from...
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By Shadia Nasralla LONDON (Reuters) - Oil companies such as BP (LON:BP) and Shell (LON:RDSa) are nurturing nature as a future revenue stream, betting on an expected rise in carbon credit prices as their fossil fuel profits ebb. BP last year put $5 million into Finite Carbon, a company that...
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By Pete Schroeder and Julie Zhu WASHINGTON/HONG KONG (Reuters) - Asian stocks came under pressure on Tuesday as investors struggled to balance hopes for more economic stimulus and vaccines with anxiety over a surge in COVID-19 infections. A mixed Asian open followed a similarly mixed Wall Street session with the tech-heavy Nasdaq Composite closing at a record high as investors flocked to...
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SYDNEY (Reuters) - Australia locked in plans on Tuesday to make Facebook Inc (NASDAQ:FB) and Google (NASDAQ:GOOGL) pay its media outlets for news content, a world-first move aimed at protecting independent journalism that has drawn strong opposition from the internet giants. Under laws to be introduced to parliament on Wednesday, Treasurer...
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MELBOURNE (Reuters) - Rio Tinto (LON:RIO) may face calls to pay compensation or a fine when an Australian parliamentary inquiry releases an interim report on Wednesday into how the firm legally destroyed ancient sacred rock shelters for an iron ore mine, industry sources said. The inquiry into the destruction of the...
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SEOUL (Reuters) - Hyundai Motor Co is planning to recall a total of 50,864 Kona electric cars and Nexo fuel cell vehicles in South Korea due to faulty electronic braking systems, the transport ministry said. Their braking systems may not function due to software defects, the ministry said, but did not mention if...
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(Reuters) - Australia's competition regulator on Tuesday said Citigroup Inc (NYSE:C), Australia and New Zealand Banking Group, Deutsche Bank AG (DE:DBKGn) and senior executives have been committed to Australian Federal Court for trial on criminal cartel charges, in the country's biggest white collar criminal case. The regulator has...
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By Kate Abnett BRUSSELS (Reuters) - More than 100 scientists have urged the European Commission to address urgently a "critical oversight" in its planned rules on sustainable finance that they say could undermine the bloc's climate change goals. The European Union last month published a first set of draft criteria for its sustainable finance taxonomy - a system of classifying investments that...
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