Economic growth in developing Asian economies has so far weathered heightened trade tensions thanks to domestic demand but the region faces potential risks ahead if the US is forced to raise interest rates “beyond market expectations”, according to the Asian Development bank.
Equities were broadly higher and foreign exchange markets were steady ahead of the close of the Federal Open Market Committee’s two-day meeting on Wednesday where the Fed is expected to raise interest rates for the third time this year.
MSCI will consult on whether to raise the weighting it gives onshore Chinese equities to 20 per cent of free float-adjusted market capitalisation for its global indices, including its flagship emerging markets index.
Argentina’s central bank chief has resigned after just three months in the job, triggering a 5 per cent slide in the peso and hitting President Mauricio Macri’s attempts to restore investor confidence in the midst of a currency crisis.
Nike reported revenue and earnings that topped Wall Street forecasts in its first quarter thanks to continued sales momentum in its key market of North America and as efforts to boost its digital capabilities paid off.
Italy’s ministry of transport has said that Atlantia’s Autostrade per l’Italia division failed to take necessary safety measures to avoid the collapse of a motorway bridge in Genoa in August that killed 43 people.
Turkish president Recep Tayyip Erdogan and Donald Trump spoke briefly on Tuesday morning at the UN, their first meeting since a bitter row between the two erupted over the fate of a detained US pastor.
Fifa has proposed a “landmark” reform package of football’s multibillion-euro transfer system, including proposals by the sport’s world governing body to diminish the power of player agents and bring order to the chaotic player trading industry.
UK prime minister Theresa May said a ‘no-deal’ Brexit would be better for Britain than any Canada-style agreement put on the table by Brussels, as it would threaten the unity and constitutional integrity of the United Kingdom.
Inspire Brands has agreed to buy Sonic for $2.3bn, including debt, in a move that would see the company add North America’s largest drive-in burger chain to its portfolio of fast-casual restaurant chains.