Tesco’s UK sales growth slows in latest quarter
Tesco, Britain’s biggest retailer, said underlying sales growth slowed in its latest quarter, partly reflecting a tough comparative number in the same period last year.
Huawei files to trademark mobile OS around the world after U.S. ban
China’s Huawei is in the process of potentially launching its “Hongmeng” operating system (OS) to replace the U.S. Android OS, an executive said on Thursday, after Reuters reported that the company has applied to trademark the OS in various countries.
Factbox: Safe havens emerge in China, South Asia as recession risks grow
Fears of a global recession are on the rise as the U.S.-China trade war re-escalated in May, sending investors to the safety of U.S Treasuries, the Japanese yen and gold.
PwC fined $5.8 million over audit of Redcentric
Britain’s accounting watchdog said on Thursday it has fined PwC 4.55 million pounds ($5.8 million) over its auditing of IT services company Redcentric.
Is bitcoin growing up? Regulated futures boom as investors seek a safer ride
When bitcoin was born it was a symbol of counterculture, a rebel currency with near-anonymity and a lack of regulation. A decade later, there are growing signs it’s entering the establishment its creators sought to subvert.
Seeking shelter from trade war, fund managers bet on China’s consumers
China may be an odd choice for investors seeking shelter from a Sino-U.S. trade war. Yet, money managers in Asia are pouring funds into Chinese stocks as the long-term promise of a growing middle class trumps more immediate fears about tariffs.
Credit Suisse, UBS have boosted capital positions: SNB
Switzerland’s biggest banks, UBS and Credit Suisse, have improved their capital positions but must strengthen their crisis planning, the Swiss National Bank said on Thursday, citing conclusions of financial watchdog FINMA.
India’s Reliance Capital calls auditor’s observations ‘baseless and unjustified’
Reliance Capital Ltd said on Thursday the observations of PricewaterhouseCoopers (PwC) about its fiscal accounts were “completely baseless and unjustified”, a day after the auditor withdrew from assessing the shadow bank’s fiscal year 2018/19 accounts….
China’s Vice Premier Liu calls for more measures to support economy
Chinese regulators should step up support for the economy and keep ample liquidity in the financial system, Vice Premier Liu He said on Thursday, suggesting Beijing would soon unveil more policies to bolster growth amid rising U.S. trade pressure.
KKR to sell Korea-based KCFT to SK Group affiliate for $1 billion
U.S. private equity investor KKR & Co Inc said on Wednesday it is selling Korea-based KCF Technologies (KCFT) to SKC, an affiliate of South Korean conglomerate SK Group, for 1.19 trillion won ($1 billion).
