Business

Australia raises 25 bps as expected, Hong Kong stocks lead gains in Asia-Pacific markets

Australia raises 25 bps as expected, Hong Kong stocks lead gains in Asia-Pacific markets

Australia’s central bank hikes rates by 25 basis points as expected The Reserve Bank of Australia raised interest rates by 25 basis points to 2.85%, in line with the average forecast by analysts in a Reuters poll. This is the seventh consecutive tightening move by the RBA in a bid to control inflation in the …

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Europe's debt market strains force some governments to rework trading rules

Europe’s debt market strains force some governments to rework trading rules

Oct 31 (Reuters) – Some euro zone countries have eased rules for the banks that manage the trading of their government debt to help them cope with some of the most challenging market conditions in years, officials told Reuters. Out of 11 major euro area debt agencies Reuters contacted, officials in the Netherlands and Belgium …

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Hong Kong stocks up 3% in Asia session as private survey shows China's factory activity contracted;  RBA decision ahead

Hong Kong stocks up 3% in Asia session as private survey shows China’s factory activity contracted; RBA decision ahead

CNBC Pro: What investors should buy in this ‘short lived’ rally, according to one analyst After October’s stock market rally, investors are debating whether stocks have hit the bottom or if it’s another short-lived bounce. Michael Landsberg, chief investment officer at Landsberg Bennett Private Wealth Management, is in the latter camp, arguing that the rally, …

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Eversource CEO says he wrote a letter to the president because of the upcoming winter challenges

Eversource CEO says he wrote a letter to the president because of the upcoming winter challenges

The CEO of utility Eversource said Monday he wrote a letter to President Joe Biden because he has serious concerns about New England’s ability to weather a harsh winter. Eversource CEO Joe Nolan said supply issues mean New England might not have enough natural gas to heat the region’s homes in the event of a …

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Deep in recession, Hong Kong eyes comeback with rugby, bank meeting

Deep in recession, Hong Kong eyes comeback with rugby, bank meeting

Hong Kong, China – Simon Friend, 35, was working from home in Amsterdam last month when he heard murmurings that Hong Kong would finally reopen to the world. Friend, a devotee of the Hong Kong Rugby Sevens, the city’s biggest sporting event, could hardly wait to book a flight. The tournament, which is being held …

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Biden accuses oil companies of ‘war profiteering’ and threatens windfall tax

President Joe Biden has accused oil companies of “war profiteering” as he raised the possibility of imposing a windfall tax if companies don’t boost domestic production. In remarks on Monday, just over a week away from the November 8 midterm elections, Biden criticized major oil companies for making record profits while refusing to help lower …

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Judge Blocks Paramount's Sale of Simon & Schuster to Penguin Random House

Judge Blocks Paramount’s Sale of Simon & Schuster to Penguin Random House

Paramount Global’s attempt to sell publisher Simon & Schuster to the owner of Penguin Random House has been blocked, a Washington DC judge ordered on Monday. The companies replied that they are evaluating options and are looking to request an appeal. “Upon review of the extensive record and careful consideration of the parties’ arguments, the …

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Emerson sells part of business, says it would consider leaving St.  Louis

Emerson sells part of business, says it would consider leaving St. Louis

FERGUSON — Emerson announced it is selling another piece of its business and that its company headquarters could move from its longtime home in the St. Louis region. Emerson said it plans to sell a majority stake in its Climate Technologies business to private equity funds managed by Blackstone, a New York-based investment firm. Climate …

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Fed expected to again raise rates by 75 basis points then 'lay the ground for a step down'

Fed expected to again raise rates by 75 basis points then ‘lay the ground for a step down’

The Federal Reserve is widely expected to raise its benchmark interest rate by three-quarters of a percentage point for the fourth meeting in a row on Wednesday after two days of Federal Open Market Committee meetings. And after that, markets expect the central bank to come off its hawkish stance to lower inflation and slow …

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Chaos, drastic changes at Twitter as Elon Musk takes the reins

Chaos, drastic changes at Twitter as Elon Musk takes the reins

Within a span of 96 hours, Elon Musk’s buyout of San Francisco tech giant Twitter has generated major aftershocks on the platform and elsewhere. But with all of Musk’s tweeting and whiplash-inducing decision-making, it’s hard to keep tabs on what’s going on in the Twitterverse. Here is an ongoing liveblog of everything the Tesla CEO …

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