Business

U.S. urges China, private sector to boost participation in G20 debt response

A senior U.S. Treasury official said Washington was open to expanding the common framework for debt treatment agreed by the G20 and the Paris Club beyond just low-income countries to include small island states, fragile states and even some lower middle-income countries with high debt burdens. G20 finance officials will review progress on the debt […]

Business

EU hikes recovery forecast as downside risks emerge

German industrial output fell in May, data showed, while the country’s main auto association downgraded its 2021 car sales forecast. Persistent global semiconductor shortages were cited as a factor in both. The European Union’s executive Commission nonetheless predicted the euro zone will grow by 4.8% this year, after the reopening of economies in the second […]

Business

Short exit stampede at 1.4% drives U.S. Treasury yield slump, traders say

An unwinding of bets by some hedge funds against 10-year U.S. Treasuries, the world’s safest asset, explains the sudden ructions in bond markets, traders and fund managers told Reuters on Wednesday. Yields on 10-year Treasuries, which move inversely to prices, recently stood at around 1.30% in New York trading after falling to a more than […]

Business

Oyo sees recovery in India picking pace, offers no timeline to IPO

India’s Oyo Hotels and Homes chief executive said on Wednesday the SoftBank-backed (9984.T) hospitality startup’s business was likely to return to levels seen before the second wave, but did not provide a timeline for its potential public offering. “In India, if all goes well, in a couple of weeks our numbers will be back to […]

Business

U.S. job openings edge higher in May, hiring slips

U.S. job openings rose slightly to a new record high in May and hiring dipped, a sign that the economy could still be struggling with labor shortages as coronavirus restrictions eased across the country. Job openings, a measure of labor demand, rose by 16,000 to 9.2 million on the last day of May, the Labor […]

Business

Atlantia considers Hochtief stake non-strategic and may sell it

Italy’s Atlantia (ATL.MI) considers its 16% stake in German builder Hochtief (HOTG.DE) non-strategic and may sell it in the future as it gears up to rejig its investment portfolio after agreeing to sell its Italian motorway unit, three sources said. “The Hochtief stake is not strategic .. and the group is considering getting out of […]

Business

Aéropostale, Sports Illustrated owner files for U.S. IPO

Authentic Brands Group Inc on Tuesday filed for a U.S. initial public offering following a year that saw the parent of apparel chain Aéropostale and Sports Illustrated magazine post strong earnings growth. In a regulatory filing, Authentic Brands listed asset manager BlackRock Inc (BLK.N), U.S. private equity firm General Atlantic LLC and mall owner Simon […]