27 May

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Exclusive: Hong Kong security chief threatens tycoon Lai’s bankers with jail if they deal in his accounts By Reuters

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By Greg Torode, James Pomfret and Sumeet Chatterjee HONG KONG (Reuters) - Hong Kong's security chief sent letters to media tycoon Jimmy Lai and branches of HSBC and Citibank this month threatening up to seven years' jail for any dealings with the billionaire's accounts in the city, according to documents seen by Reuters. The letters, signed by Secretary for Security John Lee, were sent to Lai after the Hong Kong authorities announced the freezing of his majority stake in publisher Next Digital and local accounts of three companies owned by him under a sweeping new national...

27 May

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Credit Suisse details Swiss watchdog action after Archegos blow up By Reuters

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ZURICH (Reuters) - Credit Suisse (SIX:CSGN) detailed on Thursday the additional capital buffer imposed by Swiss market watchdog FINMA in relation to the Swiss bank's exposure to collapsed U.S. investment fund Archegos. "FINMA imposed a temporary add-on of CHF 5.8 billion (USD 6.1 billion) to the Group's credit risk RWA (risk-weighted assets) in relation to its exposure in the US-based hedge fund matter, which was included in movements in risk levels," it said in a first-quarter regulatory filing. ...

27 May

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SoftBank shifts to foreign banks as borrowing soars By Reuters

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By Sam Nussey and Takashi Umekawa TOKYO (Reuters) -SoftBank Group Corp's bank borrowing climbed by 42% in the year to March-end with the increase shouldered by foreign lenders, company filings showed on Thursday. Borrowing from the conglomerate's principal lenders rose to 4.98 trillion yen ($46 billion) in the last business year, with main bank Mizuho Financial Group Inc the only Japanese lender remaining in the top three backers. Goldman Sachs Group Inc (NYSE:GS) and JPMorgan Chase & Co (NYSE:JPM) are among SoftBank's biggest lenders, the filings showed, with the borrowing coming as the...

27 May

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Soccer: Foden ready to light up Euro 2020 By Reuters

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By Martyn Herman LONDON (Reuters) - The biggest compliment that could be paid to Phil Foden is that he has stepped into the boots of Spanish wizard David Silva at Manchester City and assumed the role of Pep Guardiola's creative spark with apparent ease. For a player who does not even turn 21 until the end of the month that is some achievement, given the mercurial Silva's standing at City and across the world. Foden, tipped for greatness from the moment he helped England win the Under-17 World Cup in 2017, has become an integral part...

27 May

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China vice premier holds talks with U.S. trade chief By Reuters

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BEIJING (Reuters) - China and the United States agreed that the development of bilateral trade is very important, China's commerce ministry said, adding that both sides exchanged views on issues of mutual concern. The ministry said in a statement on its website that Vice Premier Liu He spoke with U.S. Trade Representative Katherine Tai on Thursday, and described the talks as candid, pragmatic and constructive. ...

27 May

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U.S. trade chief Tai says U.S. faces ‘very large challenges’ on China By Reuters

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By David Lawder and Andrea Shalal WASHINGTON/BEIJING (Reuters) -U.S. Trade Representative Katherine Tai said on Wednesday that the United States still faces "very large challenges" in its trade and economic relationship with China that require the Biden administration's attention across the board. Tai spoke with Reuters in an interview before her first virtual call with Chinese Vice Premier Liu He, a meeting where she raised "issues of concern," according to her office. "During their candid exchange, Ambassador Tai discussed the guiding principles of the Biden-Harris administration’s worker-centered trade policy and her ongoing review of the U.S.-China...

27 May

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Shares of jailed tycoon Jimmy Lai’s Next Digital set to open up 142% on trade resumption By Reuters

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HONG KONG (Reuters) - Shares of tycoon Jimmy Lai's Next Digital Ltd were set to surge 142% on resumption of trade on Thursday, a week after authorities froze assets of its jailed owner under a sweeping national security law imposed on the financial hub by Beijing. Next Digital, which had a market value of HK$490 million based on its last trading price of HK$0.186 before a suspension, was set to open at HK$0.45. It was quoted up as much as 3,125% in pre-trade. ...

27 May

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World stocks to rise modestly, correction unlikely – Reuters poll By Reuters

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By Rahul Karunakar BENGALURU (Reuters) - World stocks will continue to rise this year on robust economic and earnings recoveries but any quickening of inflation would temper that enthusiasm, according to Reuters polls of analysts, a majority of whom said a near-term correction was unlikely. Around this time last year, global equity markets were haemorrhaging from the pandemic-driven economic damage but that was followed by a huge upswing, boosted by unprecedented stimulus and the recovery at hand. While stocks have continued to rise significantly this year, the news flow on inflation has whipsawed financial markets -...

27 May

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Dollar firms as traders brace for U.S. inflation gauge By Reuters

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By Tom Westbrook SINGAPORE (Reuters) - The dollar found support on Thursday from emerging views the Federal Reserve is slowly but surely edging towards a discussion about tightening monetary policy, and as traders await crucial U.S. inflation data this week. In a market heavily short dollars, the mere suggestion of tapering is enough to temper further selling and against the euro and the yen the dollar held late Wednesday gains early in the Thursday Asia session. The euro traded at $1.2185 and the yen at a one-week low of 109.20 per dollar. Sterling also dipped to...

27 May

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Facebook to take action against users repeatedly sharing misinformation By Reuters

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(Reuters) - Facebook Inc (NASDAQ:FB) said on Wednesday it would take "stronger" action against people who repeatedly share misinformation on the platform. Facebook will reduce the distribution of all posts in its news feed from a user account if it frequently shares content that has been flagged as false by one of the company's fact-checking partners, the social media giant said in a blog post. (https:// It added that it was also launching ways to inform people if they are interacting with content that has been rated by a fact-checker. False claims and conspiracies...

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Exclusive: Hong Kong security chief threatens tycoon Lai’s bankers with jail if they deal in his accounts By Reuters

Credit Suisse details Swiss watchdog action after Archegos blow up By Reuters

SoftBank shifts to foreign banks as borrowing soars By Reuters

Soccer: Foden ready to light up Euro 2020 By Reuters

China vice premier holds talks with U.S. trade chief By Reuters

U.S. trade chief Tai says U.S. faces ‘very large challenges’ on China By Reuters

Shares of jailed tycoon Jimmy Lai’s Next Digital set to open up 142% on trade resumption By Reuters

World stocks to rise modestly, correction unlikely – Reuters poll By Reuters

Dollar firms as traders brace for U.S. inflation gauge By Reuters

Facebook to take action against users repeatedly sharing misinformation By Reuters

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