Economy
120 business leaders back UK's Labour in election
The UK's Labour party won the backing on Tuesday of 120 business leaders, in a timely boost as it bids to oust the ruling Conservatives in the upcoming general election. Labour leader Keir Starmer and its finance spokesperson Rachel Reeves -- who is set to become finance minister if the party wins power -- have spent years wooing back business figures.
Shanghai lifts home-buying curbs to boost property sector
Shanghai has relaxed rules on buying property in the city, as local governments across China aim to ease an agonising real estate crisis that is dragging on the economy. This month, Beijing cut the minimum down payment rate for first-time homebuyers to its lowest level in history and suggested the government could buy up unused commercial real estate.
Asian markets diverge, dollar weakens ahead of US inflation data
Asian markets were mixed Tuesday as investors took a breather after the previous day's rally and as they gear up for the release of key US inflation data later in the week.
Brazil's new Petrobras chief calls to speed up oil exploration
The new boss of Brazil's Petrobras said Monday it was crucial that the state-run company "accelerate" oil exploration, including in a controversial offshore basin near the mouth of the Amazon River. The Equatorial Margin is a basin near the mouth of the Amazon River, that is considered Brazil's most promising frontier for oil exploration, with studies suggesting it holds massive crude deposits.
Debt, suicide, fraud: South Koreans hit by real estate scams
For a decade, Park Hyeon-su lived in a windowless micro-apartment in Seoul, working double shifts and saving every penny for a deposit on a nice home. To repay his original bank loan, Choi took out high-interest credit card loans and sold off his stocks, working gruelling shifts in restaurants and living on cheap food to save cash.
World's island states meet to confront climate, fiscal challenges
Extremely vulnerable to climate change, not rich enough to stop it on their own, and not poor enough to depend on aid and development financing: the world's small island countries are bracing for both fiscal and climate shocks.
China Premier Li meets Samsung boss, vows to help foreign firms
China's Premier Li Qiang said his country will always be open to foreign companies and promised steps to boost their confidence in the world's second-largest economy, state media reported.
Most Asian markets rise as traders eye US inflation
Most Asian markets rose Monday, tracking a bounce on Wall Street at the end of a painful week for investors, with eyes now on the upcoming release of key US inflation data. Focus is now turning to the release on Friday of the US personal consumption expenditures (PCE) index, which is the Fed's preferred gauge of inflation.
G7 ministers cite 'progress' but no deal on Russian assets for Ukraine: draft statement
G7 finance ministers said on Saturday they were making "progress" in finding ways to use profits from frozen Russian assets to help Ukraine, according to a draft statement from a summit in Italy.
Economy
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