Finance

SHANGHAI, June 5 (Reuters) – When Ou Yangyun travelled to the Chinese city of Zhengzhou in February to demand recompense after his bank account containing tens of thousands of dollars was frozen, his family expected him to be home two […]

Fosun International, one of China’s largest private-sector conglomerates, has accelerated its pace of asset disposal after agreeing to sell German lender Hauck & Aufhauser Lampe (HAL) to Dutcj bank ABN Amro for €672 million (US$731 million). Shanghai-based Fosun, controlled by […]

FRANKFURT, June 4 (Reuters) – Euro zone banks are making progress in tackling climate-related risk but need to do more and the European Central Bank is ready to force them to act if necessary, ECB bank supervisor Claudia Buch said […]

AUSTIN — For five years, bitcoin miner Core Scientific has quietly been diversifying out of mining and into artificial intelligence, a market that will require immense amounts of power to handle the training of AI models and the massive workloads that follow. The move […]

NEW YORK, June 3 (Reuters) – S&P 500 and the Nasdaq edged higher in a choppy session on Monday amid soft manufacturing sector data and as a glitch on the NYSE briefly caused trading halts in dozens of equities. A […]

Amazon’s long road to space Amazon’s first two prototype satellites will soon slam into the Earth’s atmosphere, finishing their lifespans in a retirement-by-fire plan. Next up, Amazon has to build and launch new satellites — thousands of them. The Seattle […]

June 3 (Reuters) – Billionaire Bill Ackman’s Pershing Square Capital Management has raised $1.05 billion by selling 10% stake in the hedge fund to a consortium of institutional investors and family offices, it said on Monday. The sale is a precursor to […]

Hong Kong’s market regulator has warned the public to beware of a suspected investment scam in which fraudsters claim they are trying to raise the funds to relaunch one of the city’s iconic nightclubs. “It appears that a company [purportedly] operating Big Boss […]

HONG KONG, June 3 (Reuters) – More than a year after China pledged to smoothen the process for offshore listings, firms are reeling from a regulatory logjam that is unlikely to ease soon, and staring at the prospects of sharply […]

Billionaire investor Bill Ackman is selling a 10% stake in Pershing Square, aiming to eventually take his investment firm public. Ackman’s firm is raising $1.05 billion in a funding round, worth 10% of the management company and implying a valuation of $10.5 […]