Russia’s central bank launched one of the biggest banking bail-outs in its history on Tuesday, saying it would rescue troubled private lender Otkritie which has suffered a sustained run on its deposits amid worries about its loan portfolio. The central bank said it planned to tap its own funds in order to become a major […]
Read moreBy last Friday afternoon, most of Uber’s eight directors had gathered in San Francisco for a board meeting. Their agenda was simple: Pick a new chief executive for the ride-hailing company. What unfolded over the next 72 hours was anything but straightforward. In discussions at the Four Seasons Hotel downtown and at the offices of […]
Read moreBusinesses around the world are bracing themselves for the fallout from tough U.S. sanctions against North Korea, as their impact moves through global supply chains. Those effects were still being processed as the reclusive nation fired a ballistic missile over Japan early on Tuesday in what is seen as one of its most provocative actions […]
Read moreReserve Bank of New Zealand Governor Graeme Wheeler said on Wednesday that a lower New Zealand dollar was needed to help bolster the export sector and push up inflation, triggering a selloff in the local currency. Policymakers have long grappled with strong demand for the New Zealand dollar, often driven by its yield appeal, with […]
Read moreWhen it comes to innovation, there is no such thing as status quo — you either improve or decline relative to everyone else, and sitting in a comfort zone for too long could prove costly. That is the philosophy of Steve Leonard, the CEO of SGInnovate, the government entity that supports entrepreneurs leading Singapore’s innovation […]
Read moreExpedia CEO Dara Khosrowshahi will officially be Uber’s new chief, the company announced Tuesday evening. The ride-hailing giant’s board of directors chose him to replace ousted chief Travis Kalanick earlier this week. In a message to employees, Uber’s senior management confirmed Khosrowshahi’s appointment. “The Board and the Executive Leadership Team are confident that Dara is […]
Read moreInfosys founder Narayana Murthy on Tuesday defended his role in a months-long war of words with the company’s board that led to changes at the top, saying his actions were in the interest of shareholders. Speaking to investors on a conference call, Murthy said he hoped the company’s management would rally behind Nandan Nilekani, a […]
Read moreThe Trump administration has launched an aggressive drive to renegotiate U.S. trade deals, but one country may manage to stymie major changes: South Korea. President Donald Trump during an April interview with the Washington Post called the U.S.-Korea Free Trade Agreement, known as Korus, a “horrible deal” that has “destroyed” his country, and he threatened […]
Read moreSouth Korea saw two news stories of a very different nature on Tuesday: North Korea launched a ballistic missile that flew over Japan and Ikea planned to open its second store in the country in October. Markets went into a kerfuffle over North Korea’s latest missile launch, which Japan’s Prime Minister Shinzo Abe called an […]
Read moreTraders in Asia shake off North Korea's latest provocation, following stronger lead from Wall Street
Asia markets on Wednesday followed the stronger lead from Wall Street overnight as traders appeared to shake off new North Korea missile concerns. Japan’s Nikkei 225 gained 0.56 percent in early trade. Across the Korean strait, the Kospi edged up 0.05 percent, as tech stocks made gains following Tuesday’s sell off on North Korea’s missile […]
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