Generali Sticks to 2024 Targets, NineMonth Profit Jumps 30

MILAN, Nov 17 Reuters Italy39;s top insurer Assicurazioni Generali posted on Friday a 29.6 rise in ninemonth adjusted net profit as higher premiums offset claims from natural disasters, adding it was sticking to its targets for 2024. Ninemonth adjusted net profit came in at 2.98 billion euros 3.23 billion, compared with a companyprovided analyst consensus of […]
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Reaction to Alibabas Scrapping of Cloud Unit SpinOff

HONG KONG, Nov 17 Reuters Hong Konglisted shares of China39;s Alibaba Group plunged 10 on Friday, wiping about 20 billion off its market value, after the company scrapped plans to spin off its cloud business. Alibaba said its decision to shelve the spinoff was due to uncertainties fuelled by U.S. curbs on exports to China of chips used […]
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Cheap Yuan Catapults China to 2ndBiggest Trade Funding Currency

SHANGHAISINGAPORE, Nov 17 Reuters Global companies are making a beeline for China39;s debt markets, issuing record amounts of yuandenominated bonds and borrowing heavily from mainland banks, capitalising on rockbottom yuan interest rates as funding costs elsewhere jump. Companies and banks are raising record amounts of cash through yuan bonds issued in mainland China and in […]
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Dollar Set for Weekly Slide as US Inflation Cools

Dollar strength on 39;borrowed time39; as US rates peak Even yen eyes weekly rise vs USD Oil slide weighs on commodity currencies SINGAPORE, Nov 17 Reuters The dollar was headed for its largest weekly drop for months against the euro, yen and franc on Friday, as investors sold in anticipation of almost 100 basis points […]
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