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COLOMBO, Sri Lanka (AP) — The U.S. announced a $553- million project Wednesday to build a new, deep-water shipping container terminal in the Port of Colombo as it competes with China in international development financing. The U.S.-backed financing comes at a time when Sri Lanka is struggling to recover from a dire financial and economic crisis. Sri Lanka borrowed heavily from China to build the port and other infrastructure including an airport and a city being built on reclaimed land. Both neighboring India and China are jostling for influence in Sri Lanka and both have already invested in expanding facilities at the Colombo port. Colombo port also has a terminal run by China Merchants Port Holdings.

Persons: ”, Scott Nathan, Sri Lanka’s John Keells, Lanka’s, Wang Wenbin, William & Mary, AidData, China's, saysChina, Bradley Parks, “, ” ___ Didi Tang Organizations: South, U.S . International Development Finance Corp, West, Local, Sri, Sri Lanka’s John Keells Holdings, Initiative, Foreign Ministry, China Merchants Port Holdings, CHEC Port City Colombo Co, China Communications Construction Company, William & Locations: COLOMBO, Sri Lanka, U.S, Port, Colombo, China, Bay, Bengal, Beijing, Hambantota Port, Hambantota, India, oceanside, Port City, Virginia, “ Beijing, Washington

☆ Japan business mood improves, but global stress dims outlook - Reuters Tankan
▼ + stars: | 2023-11-07 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

People walk on a crosswalk at a business district in central Tokyo, Japan September 29, 2017. The monthly poll mirrored a similar improvement seen in the third quarter in the Bank of Japan's (BOJ) closely-watched quarterly tankan survey. The service-sector index grew to plus 27 from plus 24 in the previous month, led by retailers, information and communications, and other services. Analysts expect Japan's economy, the world's third-biggest, to have shrunk in the third quarter, the first contraction in four quarters, according to a Reuters poll. The Reuters Tankan indexes are calculated by subtracting the percentage of pessimistic respondents from optimistic ones.

Persons: Toru Hanai, Tetsushi, Shri Navaratnam Organizations: REUTERS, Reuters, Bank of Japan's, pessimists, Thomson Locations: Tokyo, Japan, TOKYO, China

☆ Shein targets up to $90 billion valuation in US IPO - Bloomberg News
▼ + stars: | 2023-11-07 | by ( ) www.reuters.com time to read: 1 min

A Shein logo is pictured at the company's office in the central business district of Singapore, October 18, 2022. REUTERS/Chen Lin/File Photo Acquire Licensing RightsNov 6 (Reuters) - Shein is hoping for a valuation of as much as $90 billion for an eventual U.S. initial public offering, Bloomberg News reported on Monday, citing people familiar with the matter. Reporting by Devika Nair in Bengaluru; Editing by Sonia CheemaOur Standards: The Thomson Reuters Trust Principles.

Persons: Chen Lin, Devika Nair, Sonia Cheema Organizations: REUTERS, Bloomberg, Thomson Locations: Singapore, Bengaluru

☆ Optus outage nationwide affects millions of Australians, phone and internet connections still down
▼ + stars: | 2023-11-07 | by ( ) edition.cnn.com time to read: +3 min

Millions of Australians were left without a phone or internet connection on Wednesday after the country’s second-largest telecommunications provider experienced an unexplained nationwide outage. “It is highly unlikely (that the problem started within software in Optus networks), our systems are actually very stable … This is a very, very rare occurrence,” she said. It has wide ramifications across mobile, fixed, and broadband services for Optus customers,” Rowland told reporters. Ramsay Health Care, which owns 70 hospitals and clinics in Australia, its phone services were impacted. “We encourage any customers who need to contact emergency services to use a mobile line to call 000,” Optus said in a statement.

Persons: Kelly Bayer Rosmarin, ”, Angela Ican, Kyle, couldn’t, it’s, “, Michelle Rowland, ” Rowland, Ramsay Organizations: Optus, ABC Radio, Singapore Telecommunications, “, Reuters, ”, Bank, Federal Communications, Health Care, Optus landlines, ” Optus Locations: Australia

☆ Chaos as Optus Outage Disconnects Half of Australia
▼ + stars: | 2023-11-07 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +3 min

"Because of the outage it won't load," Rogers told Reuters while he was waiting at the pharmacist for the internet to return. Optus, which is owned by Singapore Telecommunications, gave no explanation for the outage except to say it was investigating it. Until then, even taking a walk became more difficult, at least for people who needed directions. An office worker from Sydney told Reuters he could not get into his building because the door required an internet-connected smartphone application to unlock. ($1 = 1.5538 Australian dollars)(Reporting by Byron Kaye with additional reporting by Kirsty Needham and Sam Holmes; Editing by Stephen Coates)

Persons: Byron Kaye SYDNEY, Chris Rogers, Rogers, I've, Michael Clements, Angela Ican, we've, Roderick Geddes, Byron Kaye, Kirsty Needham, Sam Holmes, Stephen Coates Organizations: Optus, Reuters, Reserve Bank of Australia, Royal Australian College of General, Singapore Telecommunications, Sydney Locations: Sydney

☆ Dollar steady as risk rally eases, Reserve Bank of Australia in focus
▼ + stars: | 2023-11-07 | by ( ) www.cnbc.com time to read: +3 min

A man walking past the Reserve Bank of Australia in the central business district of Sydney on June 7, 2022. The dollar was steady on Tuesday, holding overnight gains as investors took a breather from a risk rally, while the Australian currency drifted lower ahead of a central bank interest rates decision later in the day. All eyes in Asian hours will be on the Reserve Bank of Australia, which is widely expected to raise rates by 25 basis points, snapping four months of on hold policy decisions. Federal Reserve Bank of Minneapolis President Neel Kashkari said on Monday the U.S. central bank likely has more work ahead of it to control inflation. The yen hit 151.74 per dollar last week, edging closer to October 2022 lows that spurred several rounds of dollar-selling intervention.

Persons: Carol Kong, Neel Kashkari, Jerome Powell, Powell, CBA's, Sterling, Kazuo Ueda Organizations: Reserve Bank of Australia, Commonwealth Bank of Australia, New Zealand, Fed, Federal Reserve Bank of Minneapolis, U.S, Bank of Japan Locations: Sydney, Tokyo

☆ South Korea stocks lead Asia markets higher after short selling ban
▼ + stars: | 2023-11-06 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: 1 min

In a photo taken on November 4, 2019 a subway train crosses a rail bridge over the Han river, before the skyline of the Yeouido business district of Seoul. South Korea stocks surged on Monday after the country re-imposed a ban on short-selling, while most Asia-Pacific markets took heart from a soft U.S. jobs report that helped reduce interest rate expectations. Financial authorities in South Korea said short-selling will be banned until the end of June 2024. Short-selling is when a trader sells borrowed shares to buy back at a lower price and pocket the difference. Japan's business activity expanded in October but at its softest pace this year, according to a private survey.

Persons: nonfarm, Dow Organizations: Federal Reserve Locations: Seoul . South Korea, Asia, Pacific, South Korea

☆ China to accelerate issuance of government bonds, finance minister says
▼ + stars: | 2023-11-05 | by ( ) www.reuters.com time to read: +2 min

A woman walks in the Central Business District (CBD) on a hazy morning in Beijing, China, October 25, 2021. REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, China, Nov 5 (Reuters) - China will accelerate the issuance and use of government bonds, state-run news agency Xinhua reported on Sunday citing an interview with new finance minister Lan Foan. "The Ministry of Finance will continue to implement a proactive fiscal policy, focus on improving efficiency, and better play the effectiveness of fiscal policy," said Lan, who also noted the "complex domestic and international situation". Some new local government debt quotas for 2024 have been issued in advance to reasonably ensure local financing needs, he said. The top parliamentary body last month approved the issuance of 1 trillion yuan ($137 billion) in sovereign bonds in the fourth quarter to fund rebuilding of areas affected by floods, state media reported.

Persons: Thomas Peter, Lan Foan, Lan, Liu Kun, Martin Quin Pollard, Wang Shuyan, William Mallard, Christopher Cushing Organizations: Central Business, REUTERS, Rights, Xinhua, Ministry, Finance, Communist Party, Thomson Locations: Beijing, China, Rights BEIJING, Shanxi

NII at the French retail division fell by 27% in the quarter, excluding two regulated savings accounts, "well below expectations," JP Morgan said in a note to clients. The French lender said it now saw NII of its French retail, private banking and insurance division falling by more than 20% in 2023. The French retail division's earnings also suffered from hedging contracts against the risks of low interest rates. SocGen's shares had edged up 0.6% by 0924 GMT. The bank has also finalised the merger of its two French retail networks.

Persons: Gonzalo Fuentes, JP Morgan, SocGen, Slawomir Krupa, Jefferies, Krupa, ALD, Mathieu Rosemain, Silvia Aloisi, Ingrid Melander, Emelia Organizations: Societe Generale, La Defense, REUTERS, European Central Bank, BNP, Deutsche Bank, Barclays, Thomson Locations: La, Paris, France

While freezing temperatures are not uncommon for the time of year, the sudden change is unusual. A few days ago, uncharacteristically warm weather saw parts of northern China post record high temperatures exceeding 30C. Winter this year, however, could be warmer due to a moderate El Nino, Jia Xiaolong, deputy director of China's National Climate Centre, told a press conference on Friday. El Nino is a natural climate pattern associated with warming of the ocean surface temperatures in the central and eastern Pacific. But statistics showed that winter temperatures could fluctuate greatly during El Nino, Jia warned.

Persons: REUTER, Tingshu Wang, Doksuri, El, Jia Xiaolong, El Nino, Jia, Ethan Wang, Ryan Woo, Simon Cameron, Moore, Robert Birsel Organizations: Business, Rights, El, China Meteorological Administration, CMA, Authorities, El Nino, Climate Centre, 0.5C, Thomson Locations: China, Rights BEIJING, El Nino, Mongolia, Xinjiang, Beijing, Tianjin, Hebei, Mohe, Pacific, El

☆ Hong Kong central bank leaves interest rate unchanged, tracking Fed move
▼ + stars: | 2023-11-02 | by ( ) www.reuters.com time to read: +1 min

A taxi drives in front of skyscrapers at the central business district, including AIA Central, China Construction Bank (CCB) Tower, Bank of China Tower, Cheung Kong Centre, HSBC and Standard Chartered Bank headquarters, in Hong Kong, China August 17, 2021. REUTERS/Tyrone Siu/File Photo Acquire Licensing RightsHONG KONG, Nov 2 (Reuters) - The Hong Kong Monetary Authority (HKMA) on Thursday left its base rate charged through the overnight discount window unchanged at 5.75%, tracking a move by the U.S. Federal Reserve to keep rates steady. The U.S. central bank held interest rates steady on Wednesday as policymakers paused its aggressive tightening of monetary policy to consider if conditions were restrictive enough to tame inflation. "The Hong Kong dollar exchange rate remains stable, and the Hong Kong dollar interbank rates might remain high for some time," HKMA said in a statement, adding that local financial and monetary markets continue to operate in a smooth and orderly manner. Hong Kong's monetary policy moves in lock-step with the United States as the city's currency is pegged to the greenback in a tight range of 7.75-7.85 per dollar.

Persons: Tyrone Siu, HKMA, Donny Kwok, Jacqueline Wong Organizations: AIA Central, China Construction Bank, Bank of China, Cheung, Cheung Kong Centre, HSBC, Standard Chartered Bank, REUTERS, Hong, Hong Kong Monetary Authority, U.S . Federal Reserve, Hong Kong, Thomson Locations: Cheung Kong, Hong Kong, China, HONG KONG, U.S, United States

People wearing face masks wait at an intersection in Beijing's Central Business District (CBD), as the city is shrouded in smog, in China November 1, 2023. The weather in many parts of China had stayed stubbornly warm entering November, with cities in eastern and central provinces such as Shandong, Anhui, Jiangsu and Henan still logging temperatures above 30C. In tandem with the warm weather, smog has also shrouded Beijing and its surrounding areas for days. In coming days, temperatures across northern China are expected to drop sharply. Other cities such as Beijing, Zhengzhou, Jinan, Xian and Shijiazhuang will see a sudden decline of 10C to 15C.

Persons: REUTER, Tingshu Wang, Ethan Wang, Ryan Woo, Simon Cameron, Moore Organizations: Business, Rights, Beijing Daily, Xinhua, National Meteorological Center, Shanghai, Thomson Locations: China, Rights BEIJING, Beijing, Shandong, Anhui, Jiangsu, Henan, Hebei province, Shenyang, Changchun, Harbin, Zhengzhou, Jinan, Xian, Shijiazhuang

☆ Haze lingers in Beijing as fog blankets parts of north China
▼ + stars: | 2023-11-01 | by ( ) www.reuters.com time to read: +2 min

[1/4] Vehicles move on a street in Beijing's Central Business District (CBD) as the city is shrouded in smog, in China November 1, 2023. REUTER/Tingshu Wang Acquire Licensing RightsBEIJING, Nov 1 (Reuters) - Hazy weather hung over Beijing on Wednesday with conditions in other parts of north China possibly worsening, forecasters said, although cold air sweeping in from the northwest is expected to help dissipate the smog. Experts attributed the haze in Beijing, which has lasted for several days, to poor atmospheric diffusion because of unseasonably weak cold air currents from the north. Visibility in most parts of Beijing dropped to less than 500 metres (546 yards), the China Meteorological Administration said. But from Thursday night, cold air is expected to push temperatures lower, possibly to new lows.

Persons: REUTER, Tingshu Wang, Gao, We're, Liu, Liz Lee, Ethan Wang, Xiaoyu Yin, Robert Birsel Organizations: Business, Rights, Beijing, China Meteorological Administration, Thomson Locations: China, Rights BEIJING, Beijing, Hebei province, Tianjin, Hebei, Jinan, Zhengzhou, Shijiazhuang

☆ Lonely Planet’s top places to go in 2024
▼ + stars: | 2023-10-31 | by ( Maureen Ohare | Maureen O'Hare | ) edition.cnn.com time to read: +6 min

CNN —Get your wishlist fired up, Lonely Planet just revealed its 50 top travel destinations for the year ahead. The travel publishing empire turns 50 this year, and its bumper Best in Travel 2024 list is expanded across five categories: top countries, regions, cities, sustainable travel destinations and best-value locations. The “wild beauty” of South Africa also gets a nod, with Lonely Planet recommending visitors check out the country’s “impressive crop of ecolodges” committed to protecting Earth’s biodiversity. The underrated American Midwest is the top tip here: in cities such as Chicago, Milwaukee and Detroit, “you’ll find old warehouses transformed into art studios, new eco design hotels and many Michelin-starred restaurants,” says Lonely Planet. Says Lonely Planet, “Here you’ll find the highest sea cliffs in Europe and miles of unspoilt coastal hiking trails.”Lonely Planet’s Best in Travel 2024India: A big country with a whole lot to love, including Gadisar lake in Rajasthan.

Persons: CNN —, Lucia, Torres del, ecolodges ”, Babanango, “, ”, you’ll, Ilan Shacham, Ireland País Vasco, Português, daniel Organizations: CNN, Lonely, Lonely Planet, Kenyan, Michelin, Getty, Mongolia India Morocco Chile Benin Mexico Uzbekistan Pakistan Croatia St, Regions, CNN Cities Nairobia, Chile Greenland, Lithuania Eco, France Egypt Ikaria, Greece Algeria Southern Lakes, Central Otago , New Zealand Locations: Mongolia, Mexico, Croatia, St, Benin, Uzbekistan, City, Nairobi, Paris, Prague, Czech, “, Patagonia, Torres del Paine, Spain, Valencia, Barcelona, South Africa, South, KwaZulu Natal, Chicago, Milwaukee, Detroit, Algeria, Northern Africa, Europe, Balkans, Slovenia, Bosnia, Hercegovina, Montenegro, Albania, North Macedonia, Kosovo, Serbia, Adriatic, Donegal, Ireland’s, India, Rajasthan, Mongolia India Morocco Chile Benin Mexico Uzbekistan Pakistan Croatia, Lucia Macedonia, South Australia Donegal, Ireland, Spain Southern Thailand Swahili, Tanzania Montana, USA, Austria, Kenya Paris, France Montreal, Canada Mostar, Herzegovina Philadelphia , Pennsylvania Manaus, Brazil Jakarta, Indonesia Prague, Czech Republic Izmir, Turkey Kansas City , Missouri, Spain Patagonia, Argentina, Chile, Chile Greenland Wales, Santiago Palau Hokkaido, Japan Ecuador Baltic, Estonia, Latvia, Lithuania, South Africa Poland, USA Poland Nicaragua Danube Limes, Bulgaria Normandy, France Egypt, Greece Algeria Southern, Central Otago , New

☆ There's an easy way cities can lure in more holiday shoppers: Get rid of street parking
▼ + stars: | 2023-10-31 | by ( Eliza Relman | ) www.businessinsider.com time to read: +4 min

Some shop owners fear that reducing street parking will hurt their sales. But there's mounting evidence that street parking isn't necessarily good for business. The study notes that shop owners often oppose removing street parking around them because they're "afraid of deteriorated accessibility, declining pedestrian frequencies, and lower revenue." Previous studies have shown that bike lanes and more pedestrian-friendly, walkable, and car-light areas are better for business. Shopping districts are much like outdoor malls, which are most convenient and popular when they have both adequate garage parking and are accessible by mass transit.

Persons: —, Tom Harris Organizations: Service, Protesters, RWTH Aachen University, New York City Department of Transportation, New, Times, Times Square Alliance Locations: America, —, Connecticut, Germany, Aachen, New York City, Park Slope, Brooklyn, New York, downtowns

NAIROBI, Kenya (AP) — King Charles III has expressed “greatest sorrow and the deepest regret” for the “abhorrent and unjustifiable acts of violence” committed against Kenyans as they sought independence, during a speech on his first day of a four-day visit. The king and Queen Camilla touched down in the capital, Nairobi, late Monday. Another group of protesters briefly chanted anti-British songs and threw roses at the foot of a monument to Mau Mau veteran Dedan Kimathi in Nairobi's central business district on Tuesday. “Just because the king is in Kenya, police have denied us our constitutional right to protest peacefully,” Juliet Wanjira, one of the organizers, said. During his visit, Britain announced 4.5 million pounds ($5.5 million) in new funding to support education reforms in Kenya.

Persons: — King Charles III, ”, explicity, Charles, William Ruto, Ruto, ” Ruto, Buckingham, Kenya's, that's, Charles ’, Queen Elizabeth II, Queen Camilla, Koigi Wamwere, ” Salim David Nganga, Joel Kimutai Kimetto, “, Kelvin Kubai, Dedan Kimathi, ” Juliet Wanjira, Wanjira Mathai, Wangari Maathai, Prince Philip Organizations: Kenyans, Kenyan, AP, British, Britain, Commonwealth, Aberdare National Locations: NAIROBI, Kenya, Britain, Commonwealth, East, Nairobi, Mau Mau, Nairobi's, Africa, South Africa

☆ Australia Sept retail sales climb at fastest pace in 8 months
▼ + stars: | 2023-10-30 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

REUTERS/Daniel Munoz/file photo Acquire Licensing RightsSYDNEY, Oct 30 (Reuters) - Australian retail sales rose at the fastest pace in eight months in September, suggesting some resilience in consumer spending which would add to the case for an interest rate hike as soon as next week. The Australian dollar rose 0.4% to $0.6360, while three-year government bond yield hit a fresh 12-year high of 4.388%. "Downside risks to household consumption have been a key focus of the RBA, but those do not look to have been realised so far." The broad softening in consumer spending has been one major reason that the RBA has left interest rates unchanged for four straight months now. However, a sustained rebound in housing prices could lend some support to household consumption.

Persons: Daniel Munoz, Ben Dorber, Taylor Nugent, Downside, Stella Qiu, Tom Hogue, Edwina Gibbs, Miral Organizations: REUTERS, Rights, Reserve Bank of, Australian Bureau of Statistics, National Australia Bank, Thomson Locations: Sydney's, Australia, Reserve Bank of Australia, Queensland

☆ Taylor Swift has made Kansas City her new stomping ground — and local shops say business is booming
▼ + stars: | 2023-10-29 | by ( Juliana Kaplan | Eliza Relman | ) www.businessinsider.com time to read: +11 min

Kansas City has been gripped by Taylor Swift mania amidst her relationship with Travis Kelce. Taylor Swift. They're not alone: Swiftmania has seized Kansas City, and the next great American dynasty — of a blockbuster football team and pop music superstar — is invigorating the Midwestern city. Indeed, Lonely Planet included Kansas City on its list of top destinations to visit in 2024 released on Thursday. While Swift is not single-handedly responsible for the Kansas City renaissance, her presence is currently being felt in the wallets and streets of Kansas City.

Persons: Taylor Swift, Travis Kelce, —, Megan Folmsbee, Who's Travis, Swift, Westside Storey, Folmsbee, They're, Swiftmania, Ericka Hamilton, Misha Wilson, Randi Mahomes, Patrick Mahomes, Hamilton, Wilson, Randi, Travis Kelce's, ❤️, RsE3P5HKAd —, Sarah Fretwell, Erimish, Fretwell, Travis, Jason Kelce, hasn't, Taylor, We've, Xavier Ross, RAYGUN, It's, Ross, it's, Abby Meyer, Meyer, Dolce, Erin Brown, they've, Katlyn Howard, That's, Brown, Jack Stack, Kelce, Patrick Joyce, Joyce, could've Organizations: Kansas City, Swifties, Service, Westside Storey, Kansas City Chiefs, Westside, Chiefs, Kansas, RsE3P5HKAd — ESPN, Philadelphia Eagles, Arrowhead, University of Toronto, KC, . Kansas City's Union, Union, Bakery, Kansas City's, Lonely Planet Locations: Kansas, Arrowhead, Kansas City, Arkansas, . Kansas, Argentine

☆ Cities try to take back curbs from cars and delivery trucks
▼ + stars: | 2023-10-28 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

There are a slew of users and uses that compete for curb space. The solution, some advocates say, is removing free parking and charging for spots based on demand. Free parkingThe root of the chaos at the curb stems from free on-street parking, critics say. Cities “squander curbs for free parking for cars because drivers are the people who show up at public meetings,” Shoup said. Smart loading zonesEven if cities managed their on-street parking problems for private vehicles more effectively, bikers, delivery workers, outdoor dining and other uses would still crowd the curb.

Persons: ”, Chrissy Mancini Nichols, ” Nichols, Yorkers, Donald Shoup, ” Shoup, Mike Estey, ” Estey, Michelle Wu Organizations: New, New York CNN, Workers, Walker Consultants, city’s Department of Transportation, University of California, Drivers, New York City’s Department of Transportation, Seattle Department of Transportation, Boston Locations: New York, “, New York City, Seattle, Los Angeles, America, San Francisco, Baltimore, Boston, Los Angeles , Milwaukee, Pittsburgh, Washington, New, Omaha , Nebraska, Minneapolis, Philadelphia

☆ Joe Biden wants more people to start living in empty offices
▼ + stars: | 2023-10-28 | by ( Polly Thompson | ) www.businessinsider.com time to read: +3 min

Office vacancies are at a 30-year high as WFH continues after the pandemic. But the White House initiative will make more than $35 billion available from existing federal programs in the form of grants and low-interest loans to encourage developers to convert offices into residential. Office vacancies stand at a 30-year high of 18.2%, according to research by CBRE. AdvertisementAdvertisementThe White House hopes the initiative will alleviate both these problems, creating more housing and revitalizing the commercial real estate sector. Conversions are faster than new construction, 20% cheaper, and produce fewer greenhouse gas emissions, the White House added.

Persons: —, Joe Biden's, Biden, Silverstein, Lael Brainard Organizations: Biden Administration, Service, Resources, Department, Transportation, CBRE, National Association of Realtors, It's, National Economic Council, ABC News Locations: Manhattan, New York, San Francisco, It's

☆ Clifford Chance's lawsuit against SocGen can continue in London, court rules
▼ + stars: | 2023-10-27 | by ( ) www.reuters.com time to read: +1 min

A logo of French bank Societe Generale is seen on the company's skyscraper at the financial and business district of La Defense near Paris, France September 14, 2023. Societe Generale's case against Goldas was ultimately dismissed, prompting the bank to accuse Clifford Chance of negligence. Clifford Chance applied to London's High Court for a declaration that it was not liable to Societe Generale for any alleged negligence or breach of duty. "The dispute concerns whether or not an English firm of solicitors were negligent in their conduct of English law litigation in the English High Court," the judge said. Clifford Chance and Societe Generale declined to comment.

Persons: Gonzalo Fuentes, Clifford Chance's, Clifford Chance, Goldas, Judge Andrew Henshaw, Sam Tobin, Kirsten Donovan Organizations: Societe Generale, La Defense, REUTERS, France –, Generale's, High, Thomson Locations: La, Paris, France, London

☆ Australia's Westpac warns of $109 mln hit to fiscal 2023 profit
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +1 min

The bank sees an increase in provisions for customer refunds and associated payments and restructuring costs, among others, in fiscal 2023. Westpac reported a net profit attributable of A$5.69 billion in fiscal 2022. The company noted that the notable items recorded in fiscal 2023 are significantly lower than the notable items of A$874 million recorded in fiscal 2022. The net impact of these one-off items will reduce the bank's common equity tier 1 capital ratio by 4 basis points, it added. ($1 = 1.5855 Australian dollars)(This story has been corrected to say Westpac warns of a hit, not lower fiscal 2023 profit, in the headline)Reporting by Roushni Nair in Bengaluru; Editing by Shailesh KuberOur Standards: The Thomson Reuters Trust Principles.

Persons: Loren Elliott, Roushni Nair, Shailesh Organizations: Westpac, Central Business District of, REUTERS, Westpac Banking Corp, Thomson Locations: Central Business District of Sydney, Australia, Bengaluru

☆ Asia markets mixed ahead of Australia's inflation figures
▼ + stars: | 2023-10-25 | by ( Lim Hui Jie | ) www.cnbc.com time to read: 1 min

An aerial view of the central business district and Sydney Opera House on February 17, 2023. David Gray | Getty Images News | Getty ImagesAsia-Pacific markets are mixed as investors prepare for Australia's third-quarter inflation figures, which will give clues to the Reserve Bank of Australia's monetary policy decision when it meets on Nov. 3. Economists polled by Reuters expect the headline inflation rate to come in at 5.3%, lower than the 6% seen in the second quarter. In Australia, the S&P/ASX 200 extended gains from Tuesday, climbing 0.32% in the morning session. Futures for Hong Kong's Hang Seng index stood at 17,480, pointing to a rebound after the HSI ended at its lowest level since Nov. 10.

Persons: David Gray, Kospi, HSI Organizations: Sydney Opera House, Getty, Reserve Bank, Reuters, Nikkei Locations: Asia, Pacific, Australia

☆ Shein plans to ship Brazil-made products around Latin America from 2026
▼ + stars: | 2023-10-19 | by ( Andre Romani | ) www.reuters.com time to read: +2 min

The firm started manufacturing clothes in Brazil earlier this year, its first production center outside China. "The idea is that by 2026 Brazil will be ready to serve Latin America," Magalhaes told reporters on Wednesday at an event at Shein's Sao Paulo office. She did not specify which Latin American countries Shein could ship products to from Brazil. Brazil is one of its five main markets and the largest in Latin America, the company said. In addition to Brazil, the company started manufacturing in Turkey this year and plans to build a factory in Mexico.

Persons: Chen Lin, Fabiana Magalhaes, Magalhaes, Chris Xu, Shein, Andre Romani, Peter Frontini, Sonali Paul Organizations: REUTERS, SAO PAULO, Shein's Sao Paulo, Thomson Locations: Singapore, Brazil, Latin America, China, Nanjing, Turkey, Mexico

☆ Upbeat China Q3 GDP prompts most brokerages to raise their targets
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: 1 min

A man walks past a street at Beijing's Central Business District (CBD) during morning rush hour, in Beijing, China April 18, 2023. REUTERS/Tingshu Wang/File Photo Acquire Licensing RightsOct 18 (Reuters) - Five big brokerages, including J.P.Morgan, raised their 2023 growth forecasts for China, after the country's economy grew at a faster-than-expected pace in the third quarter from a year earlier. Goldman Sachs, however, cut its view to bring it more in line with the target set by its peers. All six brokerages listed below have pegged their estimates above Beijing's 5% growth target for the year. Following are the forecasts from global brokerages:Compiled by the Broker Research team in Bengaluru; Edited by Shounak DasguptaOur Standards: The Thomson Reuters Trust Principles.

Persons: Tingshu Wang, Goldman Sachs, Shounak Dasgupta Organizations: Beijing's Central Business, REUTERS, Broker Research, Thomson Locations: Beijing, China, Bengaluru

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