Fed sees two rate hikes by end of 2023, inches towards taper

NEW YORK (BLOOMBERG) – Federal Reserve officials signaled that the pace of the US economic recovery from the pandemic is bringing forward their expectations for how quickly they will reduce policy support. Chairman Jerome Powell told a press conference on

China's service activity growth slows in May: Caixin PMI

BEIJING (REUTERS) – China’s service sector expansion slowed last month, a private sector survey showed on Thursday (June 3), with weaker overseas demand and increased costs putting pressure on businesses. The Caixin/Markit service Purchasing Managers’ Index (PMI) fell to 55.1 last month,

Old-school tycoons of Hong Kong are losing to China's moguls

HONG KONG (BLOOMBERG) – The prediction was vintage Jack Ma, as provocative as it was prescient. “This is the era of the internet,” the Chinese billionaire proclaimed in October 2013, just weeks after his plan to take Alibaba Group Holding

U.S. jobless claims sink to 473,000 as more GOP governors bar aid

WASHINGTON — The number of Americans seeking unemployment benefits fell last week to 473,000, a new pandemic low and the latest evidence that fewer employers are cutting jobs as consumers ramp up spending and more businesses reopen. The decline —

Singapore bank lending up 0.7% in March: MAS data

SINGAPORE (THE BUSINESS TIMES) – Bank lending continued its growth streak in March, rising 0.7 per cent on higher housing loans, data from the Monetary Authority of Singapore (MAS) showed on Friday (April 30). Loans through the domestic banking unit

Singapore and Europe are 'natural partners' in 3 areas: Chan Chun Sing

SINGAPORE – Europe can be a “natural partner” for Singapore in three areas, Trade and Industry Minister Chan Chun Sing said on Thursday (April 29). These are: providing a secure and reliable environment where businesses can anchor themselves; connecting people,

Global chip shortage hits Apple, Samsung and Ford as crisis worsens

NEW YORK (BLOOMBERG) – The global chip shortage is going from bad to worse with automakers on three continents joining tech giants Apple and Samsung Electronics in flagging production cuts and lost revenue from the crisis. In quick succession, Honda