Category: Business

Sun Life Financial (SLF.TO) shares jumped on Thursday after reporting a better-than-expected second-quarter profit and announcing the sale of its U.K. business as well as an asset management partnership with the buyer, Phoenix Group Holdings (PHNX.L). Earlier on Thursday, Canada’s second-largest life insurer agreed to sell its closed business in the United Kingdom to Phoenix […]

A London judge has told Kazakh mining company ENRC, its former legal adviser Dechert and the UK Serious Fraud Office (SFO) to consider mediation to end bitter litigation over events that led to a near 10-year criminal investigation. Despite ruling in May that former veteran Dechert partner Neil Gerrard had grossly betrayed his own client […]

Canada said on Thursday it would launch a trade challenge against the United States over what it called the “unfair” duties Washington is imposing on certain softwood lumber products. Canadian Trade Minister May Ng said in a statement she was disappointed about the duties and would launch a dispute settlement process under the Canada-United States-Mexico […]

Cleveland Federal Reserve Bank President Loretta Mester reiterated on Thursday that she will need to see several months of inflation coming back down towards the U.S. central bank’s 2% target before policymakers feel they can let up on tightening monetary policy. “We’re going to see variation in the numbers,” Mester said during an event held […]

Mexico’s central bank is expected to hike the benchmark interest rate to a new historic level of 8.5% next week, hoping to contain rising inflation while the economy shows better-than-expected growth. All 13 analysts polled expect Banxico, as the central bank is known, to hike its benchmark rate by three-quarters of a percentage point when […]

The number of Americans filing new claims for unemployment benefits increased last week, suggesting some softening in the labor market, though overall conditions remain tight. That was underscored by other data on Thursday showing a sharp decline in layoffs announced by U.S.-based companies in July. The still-low level of unemployment claims and brisk pace of […]

India’s government on Wednesday withdrew a data protection and privacy bill which was first proposed in 2019 and had alarmed big technology companies such as Facebook and Google, announcing it was working on a new comprehensive law. The 2019 law had proposed stringent regulations on cross-border data flows and proposed giving the Indian government powers […]