Financial

China’s Xi uses key speech to promote integration of Hong Kong

spike 7 months ago

Chinese President Xi Jinping

Aris Messinis | Pool | Reuters

BEIJING — Amid uncertainty about Hong Kong’s future and China’s international relations, President Xi Jinping maintained Wednesday that the country remains intent on doing business with the rest of the world, in its own way.

In a speech that lasted nearly one hour, Xi made broad statements reiterating China’s commitment to improving the business environment and opening further to foreign enterprises, while indicating how Hong Kong might be integrated more into the mainland.

The Chinese leader was speaking at an event commemorating the 40th anniversary of the establishment of the

… Read More

PayPal takes aim at Klarna with ‘Pay in 3’ service for UK shoppers

spike 7 months ago

The PayPal application is seen on an iPhone

Jaap Arriens | NurPhoto | Getty Images

LONDON — PayPal says it’s launching a “buy now, pay later” service in the U.K. that lets shoppers finance their purchases over three interest-free monthly instalments.

The U.S. tech giant is perhaps better known for its online payment tools, but it’s been branching out into credit in the years since it acquired lending platform Bill Me Later.

Now, the company is taking on the likes of Sweden’s Klarna and Australia’s Afterpay, whose point-of-sale loans have increased in popularity recently. It rolled out its “Pay in

… Read More

Disney, Ethan Allen, BlackRock, JPMorgan and more

spike 7 months ago

The Disney+ (Plus) logo is seen displayed on a smartphone.

Rafael Henrique | LightRocket | Getty Images

Check out the companies making headlines in midday trading.

Disney — Shares of the media giant advanced more than 4% after the company announced a major reorganization that will make streaming a “primary focus.” To accelerate its direct-to-consumer strategy, Disney will centralize its media businesses into a single organization that will be responsible for content distribution, ad sales and Disney+.

Johnson & Johnson — Shares of the pharmaceutical giant dropped more than 2% after the company paused its coronavirus vaccine trail due

… Read More

Treasury yields fall as traders weigh U.S. coronavirus stimulus prospects

spike 7 months ago

Treasury yields slipped on Tuesday as traders digest the latest news surrounding a potential U.S. fiscal stimulus package along with muted inflation growth.

The 10-year Treasury yield fell by more than 3 basis points to 0.735%. The 30-year bond rate slid to 1.524%. The 2-year yield also pulled back to 0.137%. Yields move inversely to prices.

House Speaker Nancy Pelosi, D-Calif., said in a letter to colleagues that the proposition from the Trump administration has insufficient offers on healthcare issues. Over the weekend, the administration called on Congress to pass a smaller $1.8 billion coronavirus relief bill as negotiations on

… Read More