Latest Corporate News News
China Sets Lowest Economic Growth Target Since 1991
China has set its lowest GDP growth target since 1991 during its policy meeting, signaling cautious economic outlook. This comes as Chinese stocks are poised for gains ahead of the meeting. Markets in Asia reacted with rebounds led by Korea.
Morgan Stanley to Lay Off 3% of Workforce
Morgan Stanley announced plans to lay off about 3% of its global workforce amid market turmoil. The cuts are part of cost management in a volatile environment. This news broke during Asia market openings.
Goldman Sachs CEO David Solomon Warns of Private Credit Frothiness
Goldman Sachs CEO David Solomon, speaking in Sydney, highlighted concerns over 'frothiness' in private credit markets. He emphasized Australia's importance to Goldman Sachs' global footprint. Solomon also commented on uncertainties from Iran tensions.
China Plans Slowest Defense Spending Increase Since 2022
China announced its slowest rise in defense spending since 2022, aligning with moderated growth targets. This follows vows by US and Iran to continue conflict, impacting oil prices. The move reflects fiscal prudence amid global tensions.
China to Issue 800 Billion in New Policy Financing Tools
China plans to issue 800 billion yuan in new policy financing tools to support economic measures. This initiative aims to bolster growth amid the lowest targets in decades. Asian markets showed positive responses.
KKR Prepares Shopping List Amid Market Turmoil
KKR revealed it is creating a shopping list of acquisition targets during ongoing market volatility. The private equity firm sees opportunities in the downturn. This strategy was discussed in a Bloomberg segment.
Canadian PM Carney Calls for Middle-Power Blocs with Australia
Canadian Prime Minister Mark Carney addressed Australia's Parliament, urging Canada and Australia to lead middle-power coalitions. He highlighted partnerships in critical minerals, defense, and supply chains with a combined $25 billion war chest. Carney warned of shifts in the US-led global order.
Canada and Australia Sign Critical Minerals Agreements
Canada and Australia signed new agreements on critical minerals, including ties to the G7 alliance. The deal enhances supply chain resilience and strategic autonomy. Carney emphasized their status as top mining investment jurisdictions.
Carney Pushes for Sovereign AI Capabilities in Partnerships
Mark Carney advocated building sovereign AI with like-minded nations like Australia and India to avoid dominance by hyperscalers. This includes trilateral initiatives from recent summits. The speech underscored technological cooperation.
Canada-Australia Pension Funds to Lead Global Capital Flows
Carney noted that combined pension funds from Canada and Australia's supers will soon be the world's largest capital pools at nearly $7 trillion. They aim to sustain openness to cross-border flows. This positions them strongly in trade bridges like TPP.
Asian Stocks Poised for Rebound Led by Korea
Asian stocks, particularly in Tokyo and Seoul, are set for a rebound amid China policy announcements. Fibonacci Asset Management commented on Korean stock volatility. This follows global market pressures from geopolitical tensions.
Oil Prices Extend Gains on US-Iran Conflict Vows
Oil prices rose as the US and Iran vowed to press on with their conflict. Goldman Sachs CEO noted uncertainties from Iran impacting markets. This development coincided with Asia trade openings.