Category: Business

Chinese property developer Kaisa Group Holdings Ltd (1638.HK) said on Thursday its finance unit had missed a payment on a wealth management product (WMP), adding to worries about a cash crunch at the debt-strapped company. Kaisa’s troubles come amid concerns about a deepening liquidity crisis in the Chinese property sector, with a string of offshore […]

But policymakers have also pushed back against investor expectations for a slew of interest rate rises, as they wait to see whether inflation remains stickier than expected. The Bank of England surprised markets on Thursday by keeping rates on hold. Here’s a look at where policymakers stand on the path out of pandemic-era stimulus. 1/ […]

ViacomCBS Inc (VIAC.O) on Thursday posted better-than-expected quarterly revenue, helped by more subscriber additions to its fast-growing streaming platforms and strong advertising sales. The company added 4.3 million global streaming subscribers in the quarter, led by Paramount+, bringing the total to nearly 47 million. Content including “A Quiet Place Part II”, “Paw Patrol: The Movie”, […]

Nintendo Co Ltd (7974.T) on Thursday cut its full year Switch sales forecast by 6% and said it is struggling to meet demand in the key year-end shopping season as chip shortages disrupt production of the hit device. While many companies have warned of the risks posed by the global semiconductor shortage, most have stopped […]

Alphabet Inc’s (GOOGL.O) Google has invested $1 billion in CME Group (CME.O) and has struck a separate deal to move the futures exchange operator’s trading systems to the cloud, the companies said on Thursday. Under the terms of the 10-year partnership between Google and CME, the Chicago-based exchange operator will begin moving its technology infrastructure […]

Dozens of top executives at UBS (UBSG.S) will lose their exalted rank of group managing director in a drive by Chief Executive Ralph Hamers to streamline the Swiss bank’s management. UBS will do away with all ranks above managing director, reducing the number of hierarchical layers at Switzerland’s largest bank to six from seven, an […]

Nikola Corp (NKLA.O) said on Thursday it was working with U.S. regulators to pay a $125 million penalty to settle a charge against its founder, as the electric-truck maker works on ramping up production. The U.S. Securities and Exchange Commission (SEC) had charged Trevor Milton for using social media to repeatedly mislead investors about the […]