Japan’s yen back in favour as a funding currency, but with more risks
(Refiles to correct 14th paragraph by adding missing word research to analyst job title) By Alun John HONG KONG – As the Bank of Japan …
Financial News
Norway 2021 GDP growth strongest in 14 years, Q4 beats forecast
OSLO -Norway’s mainland economy grew last year by 4.2%, its quickest pace since 2007 as the country rebounded from a pandemic-driven slump in activity, Statistics …
Column-Entangled fears of Fed error and Ukraine crisis: Mike Dolan
By Mike Dolan LONDON – Keen to downplay anxieties about war in Europe, global investors appear to fear a monetary policy miscalculation even more. Their …
Turkey’s Ziraat Bank raises capital to 34.9 billion lira
ISTANBUL – The capital of Turkey’s Ziraat Bank will be raised to 34.9 billion lira ($2.57 billion) according to footnotes of the bank’s annual financial …
U.S. to halt Mexican avocado imports ‘as long as necessary’ to ensure worker safety
By David Lawder and Dave Graham WASHINGTON/MEXICO CITY -U.S. imports of new Mexican avocado harvests will stay suspended for “as long as necessary” to ensure …
G20 host Indonesia promotes FX diversification as part of stimulus exit
By Gayatri Suroyo and Fransiska Nangoy JAKARTA – Top Indonesian economic officials on Wednesday backed the expanded use of local currencies in trade and investment, …
Rising costs, lack of widebody flights pose risks to recovery in aircraft maintenance market
By Chen Lin and Jamie Freed SINGAPORE – The global aircraft maintenance, repair and overhaul (MRO) sector faces fresh challenges from rising labour costs and …
China’s inflation slows, leaving room for policy easing
BEIJING -China’s factory-gate inflation eased to its slowest pace in six months and consumer price growth also softened in January amid weakening property sector demand, …
G20 host Indonesia promotes FX diversification as part of stimulus exit
By Gayatri Suroyo and Fransiska Nangoy JAKARTA – Top Indonesian economic officials on Wednesday backed the expanded use of local currencies in trade and investment, …
Embraer aims for decision on proposed turboprop as early as this year -exec
By Chen Lin and Jamie Freed SINGAPORE – Brazilian planemaker Embraer expects to decide late this year or early next year on whether to launch …
Vietnam apparel exports seen rising 7.4% this year to $43.5 billion -official
HANOI – Vietnam’s apparel exports are expected to jump 7.4% this year to $43.5 billion as factories keep up production despite surging coronavirus infections, the …
China to work with Asian nations to grow use of local currencies in trade
BEIJING -China will work with Asian countries to beef up use of local currencies in trade and investment, Yi Gang, the governor of the central …
China courts freeze $157 million of Evergrande assets over missed construction payments
HONG KONG – A Chinese court has ordered the freezing of 640.4 million yuan ($101 million) in assets held by a subsidiary of China Evergrande …
Japan finance minister warns of damage from inflation, vows steps as needed
By Leika Kihara TOKYO -Japan must respond to any damage inflicted on the economy by recent rising prices, Finance Minister Shunichi Suzuki said on Wednesday, …
Emerging markets “much better” able to weather monetary tightening-Indonesia central bank
JAKARTA – Emerging markets will be able to weather global monetary tightening, including U.S. rate hikes, “much better” this year compared with previous periods of …
Airbus finalises deal to sell seven A350 freighters to Singapore Airlines
SINGAPORE – Airbus SE said on Wednesday it has finalised a deal to sell seven A350 freighters to Singapore Airlines <SIAL.SI>, in a deal that …
China-U.S. monetary policy divergence aids yuan stability – ex-regulator
SHANGHAI – Increasingly divergent monetary policies between China and the United States would help rein in an excessive rise in the yuan by reducing foreign …
BOJ may suffer losses in event it exits easy policy, says governor Kuroda
TOKYO – The Bank of Japan could temporarily suffer losses on its huge asset holdings if it were to end its ultra-loose monetary policy, governor …
Japan consumers’ expected inflation rate rises to record 2.43% in Feb -govt survey
(Corrects day of the week in first paragraph) TOKYO – Japanese consumers’ one-year forward expected inflation rate rose to 2.43% in February, a Consumer Affairs …
Australia’s Liontown signs 5-year lithium supply deal with Tesla
(Refiles to add media packaging code) -Australia’s Liontown Resources said on Wednesday it signed a five-year agreement with Tesla to supply lithium spodumene concentrate to …
U.S. SEC is probing Wall Street trades in large blocks of shares
By Chris Prentice WASHINGTON – The U.S. Securities and Exchange Commission (SEC) is probing whether financial executives may have broken the rules by tipping off …
Biden’s Fed nominees in limbo after Republican vote boycott
By David Morgan, Pete Schroeder and Lindsay Dunsmuir -U.S. Senate action on President Joe Biden’s five nominees to the Federal Reserve stalled Tuesday after Republicans …
Brazil’s Carrefour Brasil reports a 13.5% drop in Q4 adjusted net income
– Carrefour Brasil reported on Tuesday that fourth-quarter net income fell from a year earlier but beat estimates, helped by sales increases. The local unit …
U.S. to inspect new 787 Dreamliners, says Boeing cannot self-certify
By David Shepardson and Eric M. Johnson WASHINGTON -The U.S. Federal Aviation Administration (FAA) on Tuesday said it would perform final inspections on new Boeing …
Airbnb sees strong first-quarter revenue on travel demand, longer stays
By Abhijith Ganapavaram and Kannaki Deka -Airbnb Inc forecast on Tuesday a better-than-expected first-quarter revenue after the short-term home rental company reported strong quarterly results …
Australia’s Fortescue says H1 profit slumped by a third as costs weigh
– Australia’s Fortescue Metals, the world’s fourth-largest iron ore miner, on Wednesday said first-half profit tumbled a third on higher material and labour costs and …
Wall Street surges as easing geopolitical worries fuel broad rally
By Stephen Culp NEW YORK – Wall Street ended sharply higher on Tuesday, as signs of de-escalating tensions along the Russia-Ukraine border sparked a risk-on …
Fed to raise rates 25 bps in March but calls for 50 bps grow louder: Reuters poll
By Prerana Bhat BENGALURU – The U.S. Federal Reserve will kick off its tightening cycle in March with a 25-basis-point interest rate rise, a Reuters …
U.S. oil producer EP Energy seeks to save deal from regulator -sources
By David French and Laura Sanicola – EP Energy is exploring a sale of oil-producing acreage in Utah it hopes will avert a challenge from …
Treasury Wine shares surge as ex-China growth begins to pay off
By Tejaswi Marthi -Treasury Wine Estates said on Wednesday its operating earnings outside mainland China jumped 28%, underpinned by growth in its luxury and premium …
Meta closes Kustomer deal after regulatory approval
– Meta Platforms Inc said on Tuesday it had closed its acquisition of Kustomer, a U.S. customer service startup, after winning conditional EU antitrust approval …
Yellen to urge G20 help for developing countries to end pandemic
By David Lawder and Andrea Shalal WASHINGTON -U.S. Treasury Secretary Janet Yellen will urge her G20 counterparts to work towards ending the COVID-19 pandemic in …
Explainer-What’s next for Fed after Senate vote on Biden’s nominees delayed
By Jonnelle Marte and Ann Saphir – Senate Republicans on Tuesday delayed a pivotal committee vote on President Joe Biden’s nominees to the Federal Reserve …
Colombia’s central bank must raise rates in first half to control inflation -IMF
BOGOTA – Colombia’s central bank will have to front load interest rate hikes in the first half of this year in order to get a …
U.S. FTC judge dismisses antitrust complaint against Altria, Juul
WASHINGTON -A judge at the U.S. Federal Trade Commission has dismissed a complaint that the agency filed aimed at requiring Marlboro maker Altria Group to …
American Airlines places order for three new Embraer aircraft
SAO PAULO – Brazilian planemaker Embraer SA said on Tuesday that American Airlines has placed a firm order for three new E175 aircraft, which will …
Roblox quarterly bookings disappoint as gaming frenzy wanes
By Akash Sriram -Gaming platform Roblox Corp on Tuesday missed Wall Street estimates for quarterly bookings as the pandemic-driven frenzy for its video games waned, …
TSX tracks global rally, shaking off pullback in oil prices
By Fergal Smith TORONTO – Canada’s main stock index rose on Tuesday, helped by a rally in global equity markets after Russia indicated it was …
Exclusive-ViacomCBS’s Paramount+ ‘thinks local’ to go global with streaming
By Helen Coster – When the reality series “The Challenge: War of the Worlds” launches on four continents in June, ViacomCBS Inc aims to test …
Exxon welcomes upcoming vote on offer to locked-out Texas refinery workers
By Erwin Seba HOUSTON – Exxon Mobil Corp on Tuesday welcomed an upcoming vote by workers at its Beaumont, Texas, refinery on a new contract …
Gold reserves at Venezuelan central bank down to new 50-year low
By Mayela Armas CARACAS – The Venezuelan central bank’s gold reserves dropped seven tonnes last year to a new 50-year low, according to financial statements …
U.S. producer prices accelerate amid broadening inflation pressures
By Lucia Mutikani WASHINGTON – U.S. producer prices increased by the most in eight months in January amid a surge in the cost of hospital …
U.S. lawmakers seek review of FAA Boeing 737 MAX oversight
By David Shepardson WASHINGTON -Two U.S. lawmakers asked the Transportation Department’s Office of Inspector General to review the Federal Aviation Administration’s (FAA) oversight over Boeing …
Ericsson says its 2019 probe found serious compliance breaches in Iraq
By Supantha Mukherjee STOCKHOLM -Ericsson said on Tuesday an internal investigation in 2019 found serious breaches of its compliance rules in Iraq, including evidence of …
Inflation uncertainty means ECB’s options need to be kept fully open -Villeroy
PARIS -Increased uncertainty about the inflation outlook means the European Central Bank needs to keep its options fully open, especially on future interest rate hikes, …
France opens new business campus to tackle cyberattacks
By Mathieu Rosemain PARIS – France is grouping the country’s top cybersecurity experts in Paris’ business district of La Defense, bringing together startups and household …
Tunisia says World bank to lend it $400 million for social reforms
TUNIS -The World Bank will lend Tunisia about $400 million to finance social reforms, the Tunisian government said on Tuesday, as it started talks with …
Canada says USMCA panel finds U.S. solar tariffs violate trade pact
By David Lawder – Canada prevailed on Tuesday in a challenge to U.S. solar panel tariffs under the trade pact between Canada, the U.S. and …
Burger King pulls Whopper off discount menu; parent RBI to hike prices
By Deborah Mary Sophia and Hilary Russ -Burger King parent Restaurant Brands International Inc said on Tuesday that it stripped its most famous sandwich, the …
Activist Generali investors call for “open dialogue”
MILAN -Two activist investors in Generali on Tuesday urged Italy’s leading insurer to engage in “an open and constructive dialogue” to overcome issues that have …