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NEW DELHI — The U.S. government’s move to launch a trade investigation into a digital services tax adopted by several countries including India should not be construed as a move of aggression against New Delhi, a senior Indian government source said on Wednesday.

LONDON/BUENOS AIRES — Argentina, in default since last month, is tantalizingly close to pulling off a $65 billion debt restructuring deal with creditors but still faces a complex set of hurdles to avoid falling into what one bondholder called debtor "zombie land."

HONG KONG — China’s decision to impose national security laws on Hong Kong has exacerbated public and international concerns over the erosion of freedoms in the city and has rekindled anti-government protests in the financial center. The national security legislation prompted U.S. President Donald Trump to move ahead and strip the financial hub of the […]

LONDON — Many households have built up a stash of savings during the coronavirus lockdowns of the past three months — and how they view them may dictate the speed of recovery from the pandemic. Although the shock has caused spikes in unemployment, most households spent lockdown periods either working from home, furloughed or on […]

By Rachel Morison and William Mathis (Bloomberg) — Coronavirus has exposed a lack of investment in the big batteries crucial to unlocking solar and wind power. A drop in energy demand caused by the pandemic has left European grids overloaded with green electricity, raising the threat of blackouts and underlining the need for energy storage […]

ZURICH — The Swiss economy contracted 2.6% in the first quarter compared with the last three months of 2019 as the novel coronavirus pandemic slammed the brakes on output and slowed exports, data showed on Wednesday. Gross domestic product fell 1.3% year-on-year, the State Secretariat for Economic Affairs (SECO) said. Economists had expected GDP to […]

Airlines, airports and insurers across Asia are bracing for the prospect of unusually high damage as the region’s tropical storm season begins, as hundreds of aircraft grounded by the coronavirus pandemic can’t be moved easily. Major airports in storm-vulnerable regions such as Hong Kong, Taiwan, Japan, the Philippines, Thailand and India have been effectively turned […]

SHANGHAI — China stocks hit a near three-month high on Wednesday as an upbeat private survey pointed to economic recovery, though Sino-U.S. tensions capped gains. ** The CSI300 index rose 0.6% to 4,005.47 points at the end of the morning session, its highest since March 11, while the Shanghai Composite Index gained 0.5% to 2,936.38 […]

SHANGHAI — The yuan took a breather on Wednesday after strengthening against the dollar for four straight days, the longest winning streak since mid-January, as companies scooped up dollars to meet seasonal payments. Prior to market opening, the People’s Bank of China (PBOC) set the midpoint rate at 7.1074 per dollar, 93 pips firmer than […]

MEXICO CITY — Mexican cement maker Cemex said late on Tuesday that it plans to issue $1 billion worth of bonds, with a 7.375% coupon and a maturity date of June 2027, to support ongoing business activities, including debt repayment. The bonds will be issued with an option to repurchase them four years prior to […]

Singapore — Vitol has partnered with Prostar’s GTI Statia (GTIS) storage terminal to operate the marine fuel, or bunker, supply business at GTIS’ crude oil and refined products terminal in the Caribbean, the companies said in a statement. “This strategic relationship allows the facility to focus on being a world-class terminal operator and will leverage […]

(Bloomberg) — The coronavirus pandemic is hitting Gulf Arab economies hard and emboldening the region’s dynastic rulers to push through unpopular fiscal measures that will impact their citizens. The question now is how long their resolve will last. Saudi Arabia, the Arab world’s largest economy, announced a surprise tripling of value-added-taxes and trimmed allowances for […]

(Bloomberg) — The outsiders that Michael Hintze brought in to his secretive hedge fund firm didn’t last long. Nor did their growth plans. The billionaire’s firm, known as CQS, a bastion of money-making whose flagship fund has returned more than three times the average of hedge fund peers since it opened in 2005, is now […]

(Bloomberg) — It would be hard for Tiff Macklem to imagine a worse economic backdrop to begin his seven-year term as Bank of Canada governor. One quarter of the nation’s labor force is out of work after the coronavirus pandemic and an oil-price crash triggered the deepest recession in the postwar era. Tens of thousands […]

BENGALURU — Indian shares on Wednesday added gains for a sixth straight session and crossed the 10,000 mark for the first time since March, as Asia’s third-largest economy gradually comes out of the coronavirus lockdowns and risk appetite picks up in global markets.

SINGAPORE — London copper prices fell on Wednesday from their highest in 2-1/2 months, as worries whether demand for the metal can be sustained hit recent gains in prices. Three-month copper on the London Metal Exchange snapped a four-session rally to drop 0.4% to $5,508.50 a tonne by 0332 GMT. The most-traded July copper contract […]

HONG KONG — Ever wonder what happens to the half-used bars of individually wrapped soap when you leave your hotel to head home after a holiday or business trip? Soap Cycling is helping to recycle the hundreds of thousands of such bars discarded in hotels across Hong Kong, and distribute them in hygiene kits to […]

HONG KONG — A survey of U.S. businesses on Wednesday revealed deep fears for the future of their operations in Hong Kong if China imposes national security legislation that critics say could curb the financial center’s freedoms and fuel ongoing protests.

ST. LOUIS — Reinsurance Group of America, Incorporated (NYSE: RGA) announced today that it has priced its previously announced underwritten public offering of 6,172,840 shares of RGA’s common stock, par value $0.01 per share (the “Common Stock”), at a public offering price of $81.00 per share. RGA expects to use the net proceeds from the […]

SINGAPORE — Chicago soybean futures rose for a second session on Wednesday with prices near last session’s three-week high, underpinned by strong demand from the world’s top importer China. Corn slid, while wheat rose for the first time in three sessions although gains were limited by improved weather in key Northern Hemisphere exporting countries. “There […]

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