Analysts are raising earnings estimates for Asian companies for the first time in four months as easing price pressures boost consumption while receding fears of a recession in developed markets is expected to help to lift export revenues.
Credit distress at Chinese private developer Country Garden is likely to spill over to the country’s property and financial markets, weakening sentiment and delaying the recovery of the property sector, Moody’s Investors Service said on Friday.
Sam Bankman-Fried, the indicted founder of the bankrupt FTX cryptocurrency exchange, is due back in a Manhattan courtroom on Friday, where he may learn if he will have to prepare for his October fraud trial from behind the jailhouse door.
Air Canada reported a better than expected quarterly profit on Friday compared with a year-ago loss and is adding capacity as the country’s largest airline cashes in on strong international travel demand.
A patriotic call by China’s bestselling automaker to band the industry together and “demolish the old legends” of the global market has gone viral, drawing both raves and a rebuke from a rival.
U.S. stock index futures were subdued on Friday as investors awaited producer prices data that could offer more clarity on the Federal Reserve’s rate hike path.
Singapore’s Olam Group said on Friday it is targeting the IPO of its agricultural unit by the first half of 2024, and the commodity trader reported an 88.8% fall in first-half profit on lower crop yield from its almond orchards in Australia.
China’s new bank loans tumbled in July and other key credit gauges also weakened , even after policymakers cut interest rates and promised to roll out more support for the faltering economy.
