World
UK economy expands 0.6% in second quarter; June growth stalls
A guided tour in the center of in York, UK, on Friday, June 7, 2024. Bloomberg | Bloomberg | Getty Images The U.K. economy grew by 0.6% in the second quarter of the year, the Office for National Statistics said Thursday, continuing the country’s cautious recession rebound. The reading was in line with the expectations […]
Read More
Ukraine must decide how its Russian incursion ends — advance further or retreat before it’s too late
Ukrainian servicemen operate a tank on a road near the border with Russia, in the Sumy region of Ukraine, on August 14, 2024. The Ukrainian army entered Russia’s Kursk region on August 6, capturing dozens of settlements in the biggest offensive by a foreign army on Russian soil since World War II. Roman Pilipey | […]
Read More
Tencent-backed Airwallex nears $500 million annualized sales, aims to get IPO-ready by 2026
Airwallex, which was most recently valued at $5.5 billion and is backed by Tencent, has been tipped as one of many prominent fintech IPO candidates. Jose Sarmento | Bloomberg | Getty Images Tencent-backed payments startup Airwallex is nearing an annual revenue run rate of $500 million and will look to get ready for an initial […]
Read More
Bank of Japan will take longer to hike rates given the yen’s rapid strengthening, BMI says
An editorial montage of the Japan flag and Japanese yen cash bank notes. Javier Ghersi | Moment | Getty Images The Bank of Japan will adopt a more cautious approach to hiking interest rates to avoid rapid appreciation in the yen after the recent global market turmoil, Fitch Solutions’ BMI said in a recent note. […]
Read More
China reports slight beat in July retail sales, but industrial data disappoint
Pictured here are cars ready for export at the Haitong Automobile Terminal depot in Taicang Port, Suzhou, Jiangsu province of China on Aug. 10, 2024. Nurphoto | Nurphoto | Getty Images BEIJING — China’s retail sales grew more than expected in July, while industrial production missed forecasts, the National Bureau of Statistics said Thursday. Retail […]
Read More
China’s bond market intervention reveals financial stability worries
People walk past the headquarters of the People’s Bank of China (PBOC), the central bank, in Beijing, China September 28, 2018. Jason Lee | Reuters BEIJING — China’s latest efforts to stem a bond market rally reveals wider worries among authorities about financial stability, analysts said. Slow economic growth and tight capital controls have concentrated […]
Read More
Asia-Pacific markets mostly climb as Japan’s GDP growth beats expectations; China economic data on deck
Shipping containers are loaded onto an international freighter at the international cargo terminal in Tokyo. Yoshikazu Tsuno | AFP | Getty Images Asia-Pacific markets were largely rose on Thursday after Japan’s GDP growth beat expectations, and also tracking Wall Street stocks that rose overnight after U.S. inflation data met market expectations. U.S. consumer prices increased 2.9% […]
Read More
Japan second-quarter GDP beats expectations, expands 0.8% from previous quarter
Pedestrians cross an intersection in the Shibuya district of Tokyo, Japan, on Tuesday, April 25, 2023. Photographer: Kentaro Takahashi/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images Japan’s second-quarter gross domestic product beat analysts’ expectations on Thursday, both on a quarter-on-quarter as well as an annualized basis. GDP rose 0.8% quarter on quarter compared […]
Read More
20 analysts raised their price targets on this Asian AI-linked stock in the past 2 weeks
One under-the-radar stock linked to the artificial intelligence supply chain — particularly Nvidia’s — is a hot favorite among analysts right now. That’s Taiwan-listed Delta Electronics , an electronics manufacturing firm. Twenty analysts raised their price targets for the stock, none lowered it and only one kept it unchanged it in the past two weeks, […]
Read More
UBS reveals its most and least preferred Asian tech stocks — giving 2 over 100% upside
Asia’s tech stocks have taken a hit from the recent tech sell-off, but UBS sees promise in the sector, naming its most — and least — preferred stocks in it. “Bottom up, we do not believe the Tech outlook has dramatically changed,” the investment bank’s analysts led by Nicolas Gaudois wrote in an Aug. 6 […]
Read More