BANGKOK — China’s central bank said Wednesday it will cut the ratio of reserves banks must hold to help boost the slowing economy. The announcement by the People’s Bank of China prompted a surge in share prices in Chinese markets, with Hong Kong’s benchmark jumping 3.6%. Chinese stock markets have languished in recent months as…
ULAANBAATAR, Mongolia — A truck carrying 60 tons of liquefied natural gas and a car collided at an intersection in the Mongolian capital early Wednesday, causing a massive fireball and a series of explosions that killed three firefighters and injured 11 people, officials said. Images showed the huge blaze at the scene of the crash…
WASHINGTON — President Joe Biden will be the keynote speaker Wednesday at a United Auto Workers’ political convention as he works to sway blue-collar workers his way in critical auto-making swing states such as Michigan and Wisconsin. Biden will speak as the union closes out a three-day gathering in Washington to chart its political priorities…
BANGKOK — Japan’s exports surged almost 10% in December from a year earlier, helped by a revival in trade with China and strong demand for vehicles, machinery and computer chips. Imports fell almost 7%, leaving a trade surprise of 62 billion yen ($410 million), according to preliminary customs data released Wednesday. A weak Japanese yen…
BANGKOK — Asian shares were mixed on Wednesday after Japan reported its exports jumped nearly 10% in December, though shares in Tokyo declined. U.S. futures and oil prices edged higher. Chinese shares resumed their upward climb after the vice chairman of the China Securities Regulatory Commission, Wang Jiangjun, called for better protections for investors and…
HBO is renting out one of its most valuable series to Netflix. Every season of “Sex and the City,” the HBO comedy that aired from 1998 to 2004, will begin streaming on Netflix for the first time in early April, according to three people familiar with the deal. HBO had a longstanding policy of not…
A Boeing 757 plane operated by Delta Air Lines lost a nose wheel as it prepared to take off from Atlanta’s main airport on Saturday, according to the Federal Aviation Administration. It was the latest troubling episode involving one of the manufacturer’s aircraft. Delta Air Lines Flight 982 was preparing to take off from Hartsfield-Jackson…
A $3 billion bet on Walt Disney by Nelson Peltz’s Trian Fund Management was largely responsible for the investment management firm’s underperformance last year compared to its activist hedge fund peers, according to financial details provided to Reuters by a Trian investor. The previously unreported details illustrate the high financial stakes for Trian as it seeks…
On Tuesday, in a ceremony that, of course, involved a soccer ball, the Argentine soccer superstar Lionel Messi pressed a button and a bottle of champagne smashed against the bow of Icon of the Seas, christening the world’s largest cruise ship at its home port of Miami. Like an A-list celebrity stepping onto the red…
The top executive at United Airlines threatened to shun Boeing after the carrier’s fleet of Max 9 aircraft was grounded in the wake of the near-disastrous Alaska Airlines door blowout. “I think the Max 9 grounding is probably the straw that broke the camel’s back for us,” United CEO Scott Kirby told CNBC’s “Squawk Box”…
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