World News

Facebook’s big India deal portends a bruising time for SoftBank-backed Paytm

By Sankalp Phartiyal and Nupur Anand NEW DELHI/MUMBAI (Reuters) – Facebook’s <FB.O> $5.7 billion investment in Reliance <RELI.NS> promises to be the biggest headache yet for Paytm, a SoftBank-backed pioneer in India’s digital payments market but which has been losing ground to rivals with deeper pockets. Facebook’s WhatsApp, which has been working on gaining regulatory […]

World News

Truce over: U.S. Congress heads to partisan battle on coronavirus aid for states

By Richard Cowan WASHINGTON (Reuters) – After passing $3 trillion of coronavirus relief in a rare seven-week run of bipartisanship, the U.S. Congress is headed back to its normal state of conflict, with leading Republicans lining up against aid for cities and states that Democrats say is essential. Spurred on by governors and local officials, […]

World News

Explainer: How China’s retail investor army got burned by the shock oil collapse

By Emily Chow and Cheng Leng SHANGHAI/BEIJING (Reuters) – China’s retail investors take punts on everything from mainstream stocks to niche commodities and derivatives, and many were badly burned this week by exposure to U.S. oil contracts which collapsed below zero for the first time, wiping out several small accounts. Bank of China (BoC), one […]

World News

S&P revises down credit rating outlook for Japan’s megabanks

TOKYO (Reuters) – S&P Global Ratings on Friday revised to stable from positive its credit rating outlook for Japan’s three major banking groups, as the economic strain from the coronavirus pandemic pushes up credit costs and threatens to erode their revenues. “We revised the outlooks because we expect the economic strain stemming from the COVID-19 […]