Shares of Sony popped on Wednesday morning, touching a nine-year high after rising more than 11 percent early in the session. The move in share price came after the Japanese consumer electronics giant revised upward its profit forecast for the fiscal year ending Mar. 31, 2018, and announced expectation-topping quarterly results on Tuesday. The company […]
Read moreIt wasn’t just Chinese President Xi Jinping who was written into the Communist Party constitution last week. His pet project, the Belt and Road Initiative was also enshrined in the document, signalling an all-out effort to realize the vision. It also makes the project potentially riskier for investors. The political gilding of the project (originally […]
Read moreA survey focused on small and mid-size businesses in China is expected to show slight expansion in the manufacturing sector in October. IHS Markit and Caixin will release Purchasing Managers’ Index at 9.45 a.m. SIN/HK on Wednesday. Economists polled by Reuters expect the private PMI reading to be at 51.0 for October — unchanged from […]
Read moreStocks in Asia rallied on Wednesday as investors digested regional earnings reports. Markets also awaited the release of China’s Caixin manufacturing Purchasing Managers’ Index after official numbers came in below expectations on Tuesday. Stateside, markets had closed slightly higher as investors focused on a mix of central bank meetings and tax cut details. Japan’s Nikkei […]
Read morePopular workplace messaging service Slack suffered a massive outage late Tuesday evening, leaving users around the world unable to send or receive messages and files. On Twitter, the company apologized for the disruption and said it was working to fix the issue. At the time of writing, the service had been unavailable for more than […]
Read moreU.S. President Donald Trump will not go to the heavily fortified demilitarized zone (DMZ) on the border of North Korea and South Korea during his Asia trip, a senior administration official said on Tuesday. “The president is not going to visit the DMZ. There is not enough time in the schedule,” the official told reporters […]
Read moreCurrency, United States Finance
This UK fintech is taking on big banks with business loans — and one key EU law is driving it
A digital invoice finance platform in the U.K. will provide business loans to its customers for the first time, it was announced Wednesday. Financial technology company MarketInvoice enables businesses to sell their unpaid invoices to provide working capital. The firm said it would expand into the business lending market, pitting it against established players such […]
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