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EU raids energy drink maker Red Bull in antitrust probe
EU antitrust investigators have raided energy drink maker Red Bull over suspicions it abused its dominance in the wildly popular market, officials said Tuesday. Red Bull said EU Commission officials "visited our premises" on Monday.
Credit Suisse tells Hong Kong clients to 'embrace new reality'
Days after it was rescued in an emergency buyout, Credit Suisse gathered hundreds of clients in an upscale Hong Kong hotel on Tuesday for a glitzy investment conference where they were told to "embrace the new reality".
Macron to speak as anger smoulders over French pension reform
French President Emmanuel Macron is set to give a televised interview on Wednesday, with the 45-year-old seeking to calm public anger over his pension reform and tamp down spiralling protests and strikes. Another round of strikes and protests organised by trade unions have been called on Thursday and are expected to again bring public transport to a standstill.
Xi calls Russia ties priority on Moscow trip
Xi Jinping said Tuesday that China would prioritise ties with Russia, calling the two "great neighbouring powers" as he prepared for a second day of talks with Vladimir Putin expected to focus on Ukraine. Xi said China's government would "continue to prioritise the all-round strategic partnership between China and Russia".
Sri Lanka bailout conditional on tackling corruption: IMF
Sri Lanka must not allow entrenched corruption to undermine a bailout for its bankrupt economy, the IMF said Tuesday after signing off on a $3 billion loan for the crisis-hit nation. Peter Breuer, the IMF mission chief in Sri Lanka, said the government had agreed to enact tougher anti-corruption laws within months during the bailout negotiations.
Asian markets rebound as bank fears ease, Fed decision in view
Asian markets bounced Tuesday from the previous day's rout, with lenders boosted by easing concerns of another financial crisis, while focus turned to the Federal Reserve's policy decision later in the week. In early Asian trade, Hong Kong rose with lenders HSBC and Standard Chartered well up, while Shanghai, Singapore, Seoul, Taipei, Manila and Jakarta were also in positive territory.
Sri Lanka: timeline of a crisis
The International Monetary Fund approved a $2.9 billion bailout deal for Sri Lanka on Monday, raising hopes for an easing of the island nation's dire economic crisis. - September 1: Bailout deal - The IMF announces a four-year, $2.9 billion bailout package, conditional on a deal between the government and its creditors to restructure its borrowings.
Indian state extends internet ban in hunt for Sikh separatist
Indian authorities extended a mobile internet blackout across a state of about 30 million people on Monday as police hunted a radical Sikh preacher. Indian authorities frequently shut down mobile internet services, particularly in the restive northern region of Kashmir. str-ash-bb/st/jh/cwl
US government seeks to avoid 'bailout' label amid banking turmoil
US authorities may have taken extraordinary steps in recent weeks to assure depositors of failed lenders Silicon Valley Bank and Signature Bank, but they are avoiding parallels with bailouts of the 2008 crisis -- which have been criticized. The way the 2008 crisis was managed had provoked criticism, given rise to the Occupy Wall Street movement, and fuelled resentment towards banks.
AFP
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