Shares of health insurance company Oscar Health (NYSE:OSCR) fell 5% in the afternoon session after Wells Fargo downgraded the stock and slashed its price target. The financial institution lowered its rating on the health insurer to “Underweight” from “Equal Weight” and cut its price target to $10 from $16. This move reflects increasing concerns about…
The third and final part of the decoupling series looks at how Hong Kong’s financial system is crucial for China to advance the internationalisation of the yuan amid geopolitical tensions and discussions on de-dollarisation. Read part one and part two. Anyone seeking evidence that international businesses are actively looking to diversify from the US dollar…
A reprieve from the weekend’s tariff exemption on electronic goods proved short-lived for Chinese manufacturers and exporters, as Washington, citing national security concerns, moves ahead with plans for new tariffs on Chinese tech products. On Sunday, US President Donald Trump announced on social media that the exemption for smartphones and laptops from China would be…
Hong Kong stocks fell on Wednesday as US President Donald Trump’s expected tariff announcement in Washington cast a shadow of uncertainty over global trade. The Hang Seng Index dropped 0.8 per cent to 23,020.80 as of 9.40am local time. The Hang Seng Tech Index gained 0.6 per cent. On the mainland, the CSI 300 Index…
Stocks have sold off in recent days as investors digested President Trump’s latest round of tariffs. The headlines are expected to intensify in the week ahead, with an April 2 reciprocal tariff deadline that Trump has dubbed “Liberation Day” looming on Wednesday. The big questions from investors headed into the expected announcements are to what…
Barclays slashed its S&P 500 target to the lowest among the major banks, predicting that the index will end the year at 5,900. Before Wednesday, the firm held a 6,600 target but cut its outlook amid deteriorating economic data and tariff disruptions, which have paralyzed markets so far this year. RBC and Goldman Sachs have…
Recession fears persist amid inflation and trade wars President Donald Trump did not rule out the possibility of a recession in a recent Fox News interview, amid his administration’s continuing trade war. With the stock market tumbling, consumer confidence skidding and U.S. companies ramping up layoffs, it may look like the nation is hurtling toward…
By Sam Tobin LONDON (Reuters) – Ex-Barclays boss Jes Staley said on Tuesday he had no idea about serial paedophile Jeffrey Epstein’s “monstrous activities”, as he gave evidence to try to overturn a finance industry ban over his relationship with the late financier. Staley began his second day in the witness box at his appeal…
The Barclays banking app is down, with millions of customers unable to transfer funds or access their accounts. According to Down Detector, the problems started at around 7am GMT, and are affecting users across the UK. The site detected a huge spike in complaints, with nearly three-quarters of them citing problems with ‘funds transfer’. The failure…
~ Run for Nature • Every Step Counts ~ HONG KONG, Oct. 17, 2024 /PRNewswire/ — Hong Kong’s trail running community is gearing up for the thrilling annual Barclays MoonTrekker event, happening October 18-19, 2024. For the ninth year, The Nature Conservancy (TNC) is the event’s beneficiary, with renowned adventurer Mario Rigby joining to strengthen…