Category: Business

TOKYO/NEW YORK – Asian stocks edged higher on Friday, buoyed by gains in China, but the mood was cautious due to a resurgence of coronavirus infections in Europe and the United States. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.27%. U.S. stock futures ESc1 also gained 0.32%. Shares in China .CSI300 rose […]

MADRID/BEIJING – China’s Shein may be the biggest shopping site you’ve never heard of. The fast-fashion player is encroaching on the territory of more established rivals like Zara and H&M. It has become the largest, purely online, fashion company in the world measured by sales of self-branded products, according to Euromonitor. Nanjing-based Shein, founded in […]

Morgan Stanley MS.N eased past Wall Street estimates for profit on Thursday, wrapping up mixed third-quarter earnings for big U.S. banks that saw those focused on trading clocking big gains while retail banks took a hit from the pandemic. Like fellow Wall Street trading powerhouse Goldman Sachs, Morgan Stanley capitalized on a flurry of activity […]

WASHINGTON/NEW YORK – Strong international cooperation on COVID-19 vaccines could speed up the world economic recovery and add $9 trillion (6.9 trillion pounds) to global income by 2025, International Monetary Fund Managing Director Kristalina Georgieva said on Thursday. Speaking at a news conference after a meeting of the IMF’s steering committee, Georgieva also called on […]

Blackstone Real Estate Partners and co-investors have agreed to sell BioMed Realty for $14.6 billion to a group led by existing BioMed investors, Blackstone Group Inc BX.N said on Thursday. Blackstone had agreed to buy BioMed Realty, a supplier of office space to healthcare companies, in late 2015 in a deal valued at $8 billion. […]

The Trump administration on Thursday said it would offer all available areas in the Gulf of Mexico for auction to oil and gas drillers on Nov. 18, the first major test of the offshore sector’s appetite for investment since early this year. The sale is the federal government’s first offshore lease sale since March, when […]

SAN FRANCISCO – U.S. Federal Reserve Chair Jerome Powell will speak Oct. 19 at the International Monetary Fund’s annual meeting, the central bank said on Thursday. He will speak on the subject of cross-border payments and digital currencies as part of a livestream panel at 8 a.m. ET.