BOJ faces further tests to its yield control as inflation creeps up

BOJ to debate market distortions, many wary of further action BOJ set to keep short-, long-term rate targets steady Board seen raising inflation forecasts in new quarterly report Governor Kuroda likely to brief media 0630 GMT TOKYO, Jan 12 (Reuters) – The Bank of Japan (BOJ) will likely raise its inflation forecasts next week and … Read more

US banks get ready for shrinking profits and recession

NEW YORK, Jan 10 (Reuters) – US banking giants are forecast to report lower fourth quarter profits this week as lenders stockpile rainy-day funds to prepare for an economic slowdown that is battering investment banking. Four American banking giants — JPMorgan Chase & Co (JPM.N), Bank of America Corp (BAC.N), Citigroup Inc (CN) and Wells … Read more

GM reclaims US auto sales top spot from Toyota

Jan 4 (Reuters) – General Motors Co (GM.N) on Wednesday posted a 2.5% rise in US new vehicle sales in 2022, outselling Toyota Motor Corp (7203.T), helped by an easing of inventory shortages and strong demand for its cars and trucks. GM, which lost the spot as the top US automaker at the end of … Read more

UK faces record hit to living standards as tax hikes loom

Britain facing record living standards hit UK economy in recession, seen to shrink in 2024 Almost half of 55 trillion-pound belt-tightening from tax rises Budget watchdog sees 7% hit to living standards IFS think-tank says bulk of the hit to come after 2024 LONDON, Nov 17 (Reuters) – Britain faces a record hit to living … Read more

Malaysia’s economy likely grew 11.7% in Q3, outlook cloudy

Malaysia’s GDP seen expanding 11.7% in Q3 Q3 GDP data due at 0400 GMT, Nov. 11 BENGALURU, Nov 9 (Reuters) – Malaysia’s economy grew in double digits for the first time in over a year in the third quarter, boosted by strong domestic consumption and robust exports, according to a Reuters poll, but the outlook … Read more

Taiwan exports likely contracted again in October – Reuters poll

TAIPEI, Nov 7 (Reuters) – Taiwan’s exports likely contracted in October for the second month in a row, amid fears of a global recession, uncertainties due to the war in Ukraine, and COVID-19 flare-ups in China, according to a Reuters poll. Taiwan, a global hub for chip production and a key supplier to Apple Inc … Read more

The big reveal: Xi set to introduce China’s next standing committee

BEIJING, Oct 21 (Reuters) – Xi Jinping, poised to clinch a third five-year term as China’s leader, will on Sunday preside over the most dramatic moment of the Communist Party’s twice-a-decade congress and reveal the members of its elite Politburo Standing Committee. Xi’s break with precedent to rule beyond a decade was set in motion … Read more

US Treasury asks major banks if it should buy back US government bonds

Oct 14 (Reuters) – The US Treasury Department is asking primary dealers of US Treasuries whether the government should buy back some US government bonds to improve liquidity in the $24 trillion market. Investors are worried about rising volatility in bonds as the Federal Reserve rapidly raises interest rates to bring down inflation. The Treasury … Read more

German voters deliver mixed verdict on Scholz coalition in regional poll

Exit polls suggest Scholz’s SPD wins Lower Saxony state vote But FDP’s poor performance could destabilize his coalition Far-right surges amid frustrations with cost-of-living crisis BERLIN, Oct 9 (Reuters) – A regional election in Lower Saxony delivered mixed fortunes for German Chancellor Olaf Scholz’s national ruling coalition on Sunday, with his Social Democrats scoring a … Read more

Malaysia seen pushing ‘feel good’ budget ahead of elections

KUALA LUMPUR, Oct 3 (Reuters) – Malaysia is expected to deliver a slightly expansionary budget for the next year on Friday in a bid to boost voter support ahead of a general election that could be called any day amid rising prices and fears of a global recession. Elections are not due until September 2023, … Read more