China’s businesses have had little but stick for almost three years. The Communist Party is finally using the carrot, loosening the screws on the private sector as authorities seek to strengthen the nation’s technological might, attract inflows and drive economic growth.
US equity futures ticked higher and Asian stocks advanced as a gauge of global shares headed for a second-straight quarterly gain, underscoring investor optimism in the face of banking turmoil and elevated interest rates.
Virgin Orbit Holdings Inc., the satellite-launch company tied to British billionaire Richard Branson, is ceasing operations indefinitely, succumbing to growing cash-crunch pressures that have paralyzed startups in many emerging technologies.
European Central Bank Governing Council member Martins Kazaks said borrowing costs will still need to rise to battle high consumer price growth.
Malaysia’s highest court rejected Najib Razak’s application to review his conviction related to the multibillion-dollar 1MDB scandal, in a fresh blow to the jailed former prime minister.
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