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LONDON (Reuters) - KPMG's bank audits needed improvements for an "unacceptable" third year running and the accounting firm will be closely monitored, Britain's auditing watchdog said on Friday in an unusually blunt assessment of leading accountants.
SHANGHAI: China kept its benchmark lending rate for corporate and household loans unchanged at its monthly fixing on Tuesday, despite growing expectations for a cut after a surprise lowering of bank reserve requirements.
PRESIDENT Christine Lagarde had barely begun unveiling the European Central Bank’s (ECB) new monetary policy strategy this month when she signalled that the Germans were on board.
BEIJING: China is likely to fine-tune its economic policies by injecting sufficient liquidity and accelerating fiscal spending to support economic recovery and contain downside risks amid surging commodity prices as growth slowed in the second quarter, economists said.
NEW YORK: JPMorgan Chase & Co second-quarter profits jumped 155% as the U.S. economy continued to rebound, but executives warned on Tuesday that the sunny outlook would not make for blockbuster revenues in the short term due to low interest rates, weak loan demand and a slowdown in trading.
HONG KONG: Alibaba Group Holding Ltd and Chinese state-backed firms are weighing bids for a stake in Unisplendour Corp, a cloud computing infrastructure firm, that could fetch as much as US$7.7bil (RM32.28bil), people familiar with the matter said.
NEW YORK: Here is a roundup of some of the latest scientific studies on the novel coronavirus and efforts to find treatments and vaccines for COVID-19, the illness caused by the virus
PETALING JAYA: Both Telekom Malaysia Bhd (TM) and Time dotCom Bhd will benefit more in a 5G environment versus the mobile players by leasing more of their fibre to the latter. In addition, the likelihood of retail broadband pricing coming down further may be slim for now.
IT is an article of faith among central bankers that the decisions they make about how much money to create and what interest rate to charge for it will determine the rate of inflation – at least over moderate lengths of time.