PwC weighs halving of China financial services audit staff, Reuters reports
PwC may cut up to half its financial services auditing staff in China due to a regulatory investigation and a client exodus, impacting business prospects.
Asia-Pacific markets mixed with Australia hitting fresh all-time high; yen intervention suspected
Japan’s Nikkei 225 climbed after the Reuters Tankan survey showed an increase in business optimism among large Japanese manufacturers.
Morgan Stanley hikes price targets for Asian stocks it says will benefit from greater iPhone demand
Two such stocks received new price targets that gave them more than 30% potential upside.
‘Too cheap to ignore’: Buy this under-the-radar global bank with a 9% yield, analyst says
The bank, founded in 1820, reported that first-half profit hit $2.87 billion.
Trump says he would let Fed Chair Powell finish his term if he wins in November, Bloomberg reports
Former President Donald Trump told Bloomberg Businessweek that he would let Fed chief Jerome Powell complete his term if he wins in November.
Nasdaq posts worst day since 2022, Dow gains 200 points as investors rotate out of tech: Live updates
The Nasdaq Composite lost more than 2% as the tech trade remained under pressure.
Amazon’s deal with AI startup Adept faces FTC scrutiny
Regulators in the U.S. and abroad are increasingly zeroing in on tech companies’ investments and partnerships with AI companies.
IMF sees ‘bumps’ in path to lower inflation
Stubborn services and wage inflation will slow the pace of disinflation in the U.S. and globally, according to the IMF.
IMF upgrades UK growth forecast in another boost to new Labour government
The upgrades come after two years of stagnation, with the U.K. falling into a shallow recession in the second half of 2023.
