Ant Group weighs stake sale of Hong Kong virtual banking unit – Bloomberg News

(Reuters) -Ant Group Co Ltd is considering selling its stake in its virtual banking unit in Hong Kong, Bloomberg News reported on Friday, citing people familiar with the matter. Ant Bank (Hong Kong) Ltd is in talks with potential investors to bolster operations and the plan is preliminary in its preliminary stages, according to the …

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Chemicals maker Clariant misses Q1 profit forecast as low volumes weigh

(Reuters) – Swiss specialty chemicals maker Clariant missed first-quarter core profit expectations on Friday, saying price increases were not enough to offset lower volumes as customers cut inventories and demand fell in some business areas. The group’s core operating profit (EBITDA) from continuing operations fell 24% to 167 million Swiss francs ($189 million) in the …

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China’s services activity grows but at slower pace – Caixin PMI

By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s service activity grew for a fourth month in April, a private-sector survey showed on Friday, as businesses benefitted from a return toward pre-pandemic levels of demand and output, although the momentum slowed. The Caixin/S&P Global services purchasing managers’ index (PMI) stood at 56.4 in April, above …

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India’s Manappuram Finance says enforcement action against promoter, not company

MUMBAI (Reuters) – Indian non-bank lender Manappuram Finance Ltd, in a notification to stock exchanges on Friday, clarified that the enforcement action against its promoter is not linked to affairs of the listed entity. On Thursday, the Enforcement Directorate, India’s financial crime fighting agency, said that it has frozen assets worth 1.43 billion rupees ($17.50 …

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Marcos says U.S. access to Philippines bases not meant for ‘offensive action’

By Matt Spetalnick and David Brunnstrom WASHINGTON (Reuters) – Philippines President Ferdinand Marcos Jr said on Thursday his agreement this year to grant the United States access to more military bases in his country was not intended for use for “offensive action” against any country. Speaking to a U.S. think-tank in Washington, Marcos said he …

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Bolivian senate approves ‘gold law’ aimed at bolstering foreign reserves

LA PAZ (Reuters) – Bolivia’s senate early on Friday morning gave final approval to a so-called “gold law” aimed at strengthening the country’s foreign currency reserves. The legislation, which was supported by the ruling party and allows the central bank to monetize its gold reserves, will now be sent to President Luis Arce to sign …

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Apple iPhone sales inch up, bolstering results amid shaky economy

By Stephen Nellis (Reuters) – Apple Inc’s results beat expectations on Thursday, showing off the tech giant’s resilience in a slowing global economy thanks to better-than-expected iPhone sales and notable inroads in India and other newer markets. Shares of the largest U.S. company by market value rose 2% after Apple exceeded Wall Street’s expectations for …

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‘Mind the gap,’ King Charles to remind train travellers during coronation weekend

LONDON (Reuters) – Passengers travelling on British trains during the weekend of King Charles’ coronation will hear a special message recorded by the monarch himself, including a reminder to “mind the gap,” officials said on Friday. The announcement, by Charles and his wife Camilla, will be heard by anyone travelling by train or the London …

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Analysis-Fewer luxury shoppers but bigger spenders as Chinese return to Europe

By Casey Hall and Mimosa Spencer SHANGHAI/PARIS (Reuters) – China’s five-day Labour Day holiday in early May was once a good excuse for a quick European jaunt – with a side of luxury shopping on the agenda. But with flights remaining limited after China’s border reopening in January, European luxury stores will need to wait …

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