Nov 21 Reuters Firms of India39;s Adani Group conglomerate lost as much as 34 billion in market value on Thursday after U.S. prosecutors charged its billionaire chairman in an alleged bribery and fraud scheme. Gautam Adani39;s flagship Adani Enterprises tumbled as much as 23 to its lowest since Nov. 2023 for its worst oneday drop since February last […]

Nov 21 Reuters China39;s PDD Holdings fell short of market estimates for thirdquarter revenue and profit on Thursday, as promotional offers and discounts did not persuade costconscious consumers to spend as much as expected on its ecommerce platforms. PDD39;s U.S.listed shares were down 8 in premarket trading. Higher unemployment among Chinese youth and a property sector […]

Qatar Investment Authority committed biggest amount to become anchor investor Other investors in fund include Chinese sovereign fund CIC, yuandenominated investors McDonald39;s China says goal to reach 10,000 restaurants remains unchanged HONG KONG, Nov 21 Reuters Trustar Capital has raised 1 billion for a continuation fund that will hold the Chinese private equity firm39;s controlling […]

Nov 21 Reuters Starbucks reiterated on Thursday it is exploring strategic partnerships for its Chinese operations, after a media report saying the company is considering selling a stake in the business to a local partner. The Seattlebased company, facing a decline in demand for its beverages in major markets such as the U.S. and China, aims […]

LONDON, Nov 21 Reuters The Financial Conduct Authority is seeking feedback on proposals to give lenders more time to handle complaints on nondiscretionary motor finance commissions, after a recent legal ruling widened the number of customers they may need to compensate. The regulator has previously extended the time firms have to respond to motor finance […]

GDANSK, Nov 21 Reuters Poland39;s top insurer PZU on Thursday reported a nearly 18 drop in its thirdquarter profit due to a high number of claims for floodrelated damages, though it still beat market expectations. Its net profit fell to 1.22 billion zlotys 296.9 million from 1.48 billion last year. Analysts polled by the company were […]

ZURICH, Nov 21 Reuters Julius Baer said on Thursday it had registered increased growth in net new money during the JulyOctober period as the Swiss bank said its incoming new CEO Stefan Bollinger would start work on Jan. 9. In the first ten months of 2024, assets under management AUM rose to 480 billion Swiss […]

Nov 20 Reuters Concerns over a wider conflict in the Middle East have prompted international airlines to suspend flights to the region or to avoid affected air space. Below are some of the airlines that have cancelled services to and from the region AEGEAN AIRLINES The Greek airline has cancelled flights to and from Beirut until March 29 and […]

ZURICH, Nov 20 Reuters Swiss industry is struggling with falling orders and sales as weaker European demand and a strong franc hit exporters, with two surveys showing companies gloomy about their prospects. Escalating trade tensions, with the possibility of higher export tariffs when U.S. Presidentelect Donald Trump takes office next year is also raising concerns in Switzerland. […]

Walmart gains marketshare with low prices, Target sees weak demand Overall holiday shopping expected to grow at slowest pace in six years Mobile spending to account for 53 of online holiday sales Retailers target shoppers with sprucedup loyalty programs Nov 20 Reuters Retailers are in for a mixed holiday season this year ahead of Black […]