China to extend tax relief for small firms, support equipment upgrades
BEIJING (Reuters) -China will extend tax relief for some small firms, including manufacturers, and offer low-cost loans to support equipment upgrades by companies, state media …
Financial News
Factbox-Just how bad is Lebanon’s economic crisis?
BEIRUT (Reuters) – Savers held up two banks in Lebanon on Wednesday to demand access to their own deposits frozen in the country’s paralysed financial …
Air France to pay bonus, hike wages amid inflation
PARIS (Reuters) -Air France on Wednesday announced it would raise salaries for all staff categories by a total of 5% in anticipation of wage talks …
Suspicious minds leave UK assets all shook up
By Andy Bruce LONDON (Reuters) – There is trouble ahead for Britain’s new finance minister Kwasi Kwarteng: a marked shift in how British assets are …
White House unveils $2 billion biotech spending plan ahead of industry summit
By Jarrett Renshaw (Reuters) – The White House released new details on Wednesday on how it plans to invest more than $2 billion in the …
Philip Morris appoints two former U.S. FDA officials to key roles
(Reuters) – Philip Morris International Inc said on Wednesday it had appointed two former U.S. Food and Drug Administration (FDA) officials to key positions at …
UK house price growth hits 19-year high of 15.5% due to tax effect
LONDON (Reuters) – British house prices leapt in July by 15.5% in annual terms, the biggest increase since May 2003, reflecting how prices in the …
Seven companies bid for new casino licenses in Macau
HONG KONG (Reuters) -Seven companies have bid for new casino licenses in the world’s biggest gaming hub, with new contracts set to start at the …
Yen recovers lost ground on BOJ rate check, hints on intervention
By Kevin Buckland and Alun John TOKYO/LONDON (Reuters) – The yen jumped over 1% on Wednesday after media reports the Bank of Japan conducted a …
Fed angst keeps stocks on edge, yen jumps on Japan intervention hint
By Dhara Ranasinghe LONDON (Reuters) -World stocks were stuck in a sea of red on Wednesday as markets braced for an even more aggressive U.S. …
Renault open to discuss measures to help workers cope with inflation – unions
PARIS (Reuters) – French carmaker Renault will start negotiations with unions on Sept. 22 to discuss emergency measures aimed at improving the purchasing power of …
Biden to announce approval of $900 million in U.S. EV charging funding
By David Shepardson DETROIT (Reuters) -President Joe Biden on Wednesday will announce the approval of the first $900 million in U.S. funding to build EV …
U.S. mortgage interest rates top 6% for first time since 2008
(Reuters) – The average interest rate on the most popular U.S. home loan rose above 6% for the first time since 2008 and is now …
Factbox-Government measures to ease inflation pain
(Reuters) – Pandemic-related disruption to global supply chains and the knock-on effects of Russia’s war in Ukraine have combined to drive up prices of energy, …
Analysis-China poised to shake up economic leadership as reformers bow out
By Kevin Yao BEIJING (Reuters) -China’s ruling Communist Party sets the stage next month for the biggest overhaul of its economic leadership in a decade, …
Kuehne raises Lufthansa stake to 17.5% as Germany sells remaining shares
BERLIN/ZURICH (Reuters) -Logistics entrepreneur Klaus-Michael Kuehne has increased his stake in Lufthansa to 17.5%, Kuehne Holding said on Wednesday, after the German government sold all …
Japan signals chance of yen intervention; market unconvinced
By Kantaro Komiya, Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -The Bank of Japan conducted a rate check with banks on Wednesday in apparent preparation …
Uniper: Germany could take majority stake
FRANKFURT (Reuters) – The German government could end up taking a majority in ailing gas importer Uniper, the company said on Wednesday, pointing to losses …
Zara owner Inditex plans autumn price hikes as profit surges
MADRID (Reuters) – Fashion brand Zara’s owner Inditex said on Wednesday it plans to hike prices again this autumn, as one of the world’s top …
UK inflation falls for first time in nearly a year
By David Milliken and Andy Bruce LONDON (Reuters) – British consumer price inflation fell for the first time in almost a year in August as …
Top of ECB rates cycle an open question, ECB’s Herodotou says
NICOSIA (Reuters) – The European Central Bank has expedited its exit from ultra easy monetary policy to bring inflation back to target but it remains …
U.S. SEC to propose Treasury market clearing reforms to address resilience fears
By Michelle Price and Pete Schroeder WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission (SEC) is scheduled on Wednesday to propose draft rules to …
Marketmind: Terminal diagnosis?
A look at the day ahead in U.S. and global markets from Mike Dolan. Markets are realizing this inflation fight could be a longer, harder …
Indonesia govt, key parliament body set 2023 GDP growth target at 5.3%
JAKARTA (Reuters) – Indonesia’s parliamentary budget committee and the government on Wednesday agreed to set a 2023 economic growth target of 5.3%, the committee’s chair …
Japan will act ‘swiftly’ if it intervenes in FX market – Finance Minister
TOKYO (Reuters) – Japanese authorities will act “swiftly without any interruption” if they decide to intervene in the currency market to stem sharp yen falls, …
Google says disappointed court did not annul EU antitrust decision in full
BRUSSELS (Reuters) – Google on Wednesday voiced disappointment with an EU court judgment backing an EU antitrust decision against the company. “We are disappointed that …
Google’s long battle with EU antitrust regulators
By Foo Yun Chee LUXEMBOURG (Reuters) – Google suffered one of its biggest setbacks on Wednesday after Europe’s second-top court upheld an EU antitrust decision …
Exclusive-Goodyear settles labour abuse claims with workers at Malaysian factory
By Mei Mei Chu and A. Ananthalakshmi KUALA LUMPUR (Reuters) -Goodyear Tire & Rubber Co has reached an agreement to settle a labour dispute at …
Women expect higher inflation than men, driven by food costs: ECB study
FRANKFURT (Reuters) – Women expect higher inflation then men and their outlook is primarily driven by food costs, a European Central Bank study found on …
European shares drop; Inditex boosts retailers
By Shreyashi Sanyal (Reuters) -European shares dipped on Wednesday after higher-than-expected U.S. inflation cemented views of a large interest rate hike by the Federal Reserve …
Euro zone industrial production much weaker than expected in July
BRUSSELS (Reuters) – Euro zone industrial production was much weaker than expected in July, data showed on Wednesday, mainly because of a sharp drop in …
Uber pays New Jersey $100 million in back taxes over driver employment status
By ShubhenduSatish Deshmukh and Shubham Kalia (Reuters) – Uber Technologies Inc said on Monday it back-paid New Jersey $100 million in unemployment taxes over classifying …
Biden to promote shift to EVs in visit to Detroit auto show
By David Shepardson DETROIT (Reuters) – President Joe Biden plans to take a victory lap on Wednesday at the Detroit auto show, highlighting automakers’ increasing …
Analysis-Why the dollar’s wrecking-ball rally is not done yet
By Tom Westbrook SINGAPORE (Reuters) – A rally that has the dollar on course for its best year since 1984 has further to run, traders …
India’s August wholesale inflation eases as commodity prices fall
By Manoj Kumar NEW DELHI (Reuters) – India’s wholesale price inflation slowed in August helped by a fall in commodity prices, but double-digit price gains …
EU court backs EU antitrust decision against Google, trims fine
LUXEMBOURG (Reuters) – Europe’s second-top court on Wednesday upheld an EU antitrust decision against Alphabet unit Google for using its Android mobile operating system to …
EU Commission to propose more flexibility in debt reduction
STRASBOURG (Reuters) – The European Commission will propose in October changes to EU debt rules that make them simpler and more flexible in reducing high …
EU to seek clearance of trade deals, set rules on raw materials – von der Leyen
STRASBOURG (Reuters) – The European Union needs to update its links with reliable countries and key growth areas and secure supply of lithium and rare …
Indonesia orders regional heads to keep food inflation below 5% – minister
JAKARTA (Reuters) – Indonesia’s central government on Wednesday ordered regional heads to keep food inflation below 5% as the recent hike in fuel prices could …
Swedish inflation surge paves way for big Riksbank hike
STOCKHOLM (Reuters) – Swedish inflation surged again in August, with Wednesday’s statistics office data likely to force the central bank into an aggressive rate hike …
France is not falling into recession, Le Maire says
PARIS (Reuters) – French Finance Minister Bruno Le Maire said on Wednesday that the economy was not facing recession after the government lowered its economic …
Sweden’s AB Volvo starts series production of heavy electric trucks
STOCKHOLM (Reuters) -Swedish truck maker AB Volvo said on Wednesday it was starting series production of heavy electric trucks, catering to a growing demand for …
PwC HK, KPMG to host U.S. regulator for China inspections -SCMP
(Reuters) – PwC Hong Kong and KPMG China are the first accounting firms that will help a U.S. regulator inspect auditing work for United States-listed …
Rio Tinto, China Baowu to develop Australian iron ore project for $2 billion
By Sameer Manekar and Praveen Menon (Reuters) -Rio Tinto Ltd said on Wednesday it would team up with its biggest customer China Baowu Steel Group …
BOJ’s reported currency rate check
(Reuters) – The Bank of Japan has conducted a rate check in apparent preparation for currency intervention, the Nikkei newspaper reported on Wednesday, as policymakers …
Apple plans to use latest chip tech by Taiwan’s TSMC in iPhones, Macs – Nikkei
(Reuters) -Apple Inc is planning to use an updated version of Taiwanese chipmaker TSMC’s latest chip producing technology in iPhones and Macbooks next year, the …
Explainer-What would Japan’s currency intervention to combat a weak yen look like?
By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) – The Bank of Japan has conducted a rate check in apparent preparation for currency intervention, the …
Marketmind: Eyes wide open
A look at the day ahead in European and global markets from Anshuman Daga Was the recent rise in markets a dead cat bounce? The …
History of Japan’s intervention in currency markets
TOKYO (Reuters) – The Bank of Japan has conducted a rate check in apparent preparation for currency intervention, the Nikkei website reported on Wednesday, citing …
Exclusive-How Norway’s Equinor exited Russia: Move fast, sell cheap
By Nerijus Adomaitis and Ron Bousso LONDON/OSLO (Reuters) – Norway’s Equinor became the first Western oil major to fully exit Russia this month, avoiding the …