Intel’s Mobileye files for listing in first sign of thawing tech IPO market

Sept 30 (Reuters) – Intel Corp’s (INTC.O) self-driving unit Mobileye on Friday unveiled its filing for a US initial public offering, testing support for a high profile stock debut even as the market for new issues has virtually collapsed. The tech IPO market globally is in the middle of its worst drought in almost two … Read more

Exclusive: JPMorgan to hire about 2,000 engineers even as the economy softens

PLANO, Texas, Sept 30 (Reuters) – JPMorgan Chase & Co plans to hire about 2,000 engineers worldwide through the end of the year despite a worsening economy, its global chief information officer, Lori Beer, said on Wednesday. The biggest US lender added a net more than 5,000 software developers and data scientists last year and … Read more

Bank of England won’t make emergency rate hike but will go big on Nov 3

Economists lift peak UK rates forecast after market chaos Median forecast for 75 bps rate hike on Nov 3 BoE intervenes in UK bond markets to restore order LONDON, Sept 30 (Reuters) – The Bank of England won’t raise interest rates before its next scheduled policy announcement on Nov. 3 despite a plunge in sterling … Read more

Investors dump global bond and equity funds on recession risks

Sept 30 (Reuters) – Global bond and equity funds witnessed massive outflows in the week ended Sept. 28 as worries about a recession grew, with the US Federal Reserve determined to keep interest rates higher to tame inflation pressure. read more A selloff in British gilts following finance minister Kwasi Kwarteng’s announcement of historic tax … Read more

HSBC kicks off informal investor talks for Indonesian business IPO

HONG KONG, Sept 30 (Reuters) – HSBC Holdings Plc has started briefing investors on a potential initial public offering (IPO) of its Indonesian business, said two sources with direct knowledge of the matter. Executives at HSBC Indonesia have met with a group of fund managers in Singapore since last week to discuss details of the … Read more

Hong Kong retail sales slip 0.1% in August

HONG KONG, Sept 30 (Reuters) – Hong Kong’s August retail sales slipped 0.1% from a year earlier amid a high base of comparison, government data showed on Friday. Sales decreased to HK$28.6 billion ($3.64 billion), having grown 4.1% in July. In volume terms, retail sales fell 2.9% year-on-year in August. That compares with a revised … Read more

China forex regulator warns against illegal money outflows

BEIJING, Sept 30 (Reuters) – China’s foreign exchange regulator named and shamed 10 banks that had assisted illegal capital outflows, vowing to crack down on fake forex transactions in authorities’ latest effort to stabilize the sliding yuan. The State Administration of Foreign Exchange (SAFE) listed 10 “typical” cases of misdeeds in a statement on its … Read more

Singapore tightens property curbs to tame demand as rates rise

SINGAPORE, Sept 30 (Reuters) – Singapore has unveiled a package of measures for the property market, including tightening lending limits for housing loans in response to a rise in interest rates, as well as new steps to moderate demand. The move would ensure “prudent borrowing” and “avoid future difficulties” in servicing home loans, said Singapore’s … Read more

London stocks slide as fiscal policy concerns weigh; Next drops

FTSE 100 down 1.8%, FTSE 250 off 2.1% Next’s outlook cut sparks selloff across the retail sector Synthomer plunges after lowering annual profit outlook Sept 29 (Reuters) – London stocks tumbled on Thursday, led by losses in Next shares after the clothing retailer cut outlook citing a worsening cost-of-living crisis, while investors also digested the … Read more

Fed’s Evans: Market volatility can create restrictiveness

LONDON, Sept 28 (Reuters) – Federal Reserve Bank of Chicago President Charles Evans said on Wednesday that volatility in markets can create additional restrictiveness in financial conditions. Global markets have been whipsawed this week by turmoil in UK markets, already on edge over aggressive rate hikes from the US Federal Reserve and other major central … Read more