Norwegian wealth fund buoyed by U.S. tech giants
Norway’s $1.1 trillion sovereign wealth fund, the world’s largest, benefited from a strong finish to the second quarter to post a 3% return on investment, buoyed by U.S. tech giants Microsoft and Facebook.
DHL stops deliveries for Amazon Fresh in Germany
(The August 21 story, corrects to read “the market for food ecommerce” in paragraph 1.)
Goldman moves to take majority control of China joint venture
Goldman Sachs has applied for majority control of its Chinese joint venture, the bank confirmed on Wednesday, the latest international bank to do so ahead of Chinese plans to eventually allow foreigners full control.
Citigroup, BNP caught up in U.S. case against Huawei CFO: documents
U.S.-based Citigroup Inc and French bank BNP Paribas are caught up in the U.S. criminal case against the chief financial officer of China’s Huawei Technologies, according to newly available documents.
Xiaomi growth slows as fewer people buy phones, Huawei competition bites
Chinese smartphone maker Xiaomi Corp posted its slowest revenue growth as a public company, missing analysts’ estimates, as it lost market share to Huawei and customers held on to their phones before a 5G refresh.
Caution grips Asian shares as Fed events loom large
Asian shares flatlined on Wednesday as worries about global recession and endless trade wars wrestled with hopes for more monetary and fiscal stimulus to keep growth going.
Japan, U.S. ministers meet for trade talks as hopes for early deal fade
Japan and the United States will seek to narrow gaps on trade when their top negotiators meet this week, but hopes for a deal in September are fading as both sides fail to make concessions on agriculture and automobiles, sources say.
Exclusive: Philips, under investigation in U.S. and Brazil, fired whistleblower who warned of graft
Healthcare giant Philips was warned of suspicious sales of its medical equipment to the Brazilian government, and failed to halt them, nearly a decade before an alleged bribery racket was exposed in the company’s Brazil operations last year, Reuters ha…
Alibaba postpones up to $15 billion Hong Kong listing amid protests: sources
China’s biggest e-commerce company Alibaba Group Holding Ltd has delayed its up to $15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub, two people with knowledge of the matter told Reuters.
Caution grips Asian shares before Fed minutes, seminar
Asian shares flatlined on Wednesday as worries about global recession and endless trade wars vied with hopes for a lot more monetary and fiscal stimulus to keep growth going.
