TOKYO (Reuters) – Japan’s selection of a new central bank governor is likely to intensify after an upper house election in July and could determine how quickly the country will follow global counterparts in withdrawing monetary stimulus. Prime Minister Fumio Kishida will decide from a short-list, usually crafted by financial bureaucrats, a successor to Bank…
By Byron Kaye (Reuters) -Australian transit operator Kelsian Group Ltd said it may bid for Go-Ahead Group PLC after the British bus firm agreed to a 647.7 million pound ($789 million) buyout from another Australian group, setting the stage for a bidding war. Go-Ahead, which runs buses in several English cities including London, plus Ireland…
By Scott Murdoch HONG KONG (Reuters) – Asian shares tumbled on Tuesday after Wall Street hit a confirmed bear market milestone and bond yields struck a two-decade high on fears aggressive U.S. interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.9%. Australian…
SEOUL (Reuters) – Samsung Electronics’ semiconductor production in China is facing disruption from South Korean truckers blocking exports of a key chip-making material as part of a strike, the Korea International Trade Association (KITA) said on Tuesday. In the first concrete sign that the week-long strike has begun impacting chip production, KITA said a Korean…
SEOUL, South Korea (AP) — A weeklong strike by thousands of truckers in South Korea has triggered major disruptions in cargo transport and production that have caused 1.6 trillion won ($1.2 billion) in damages, officials said Monday. An extended strike may eventually worsen the global supply chains already battered by Russia’s invasion of Ukraine and…
(Reuters) – Australia’s Lynas Rare Earths said on Tuesday it has signed a $120 million follow-on contract with the U.S. Department of Defense to build a commercial heavy rare earths separation facility in Texas. The contract, which was granted to Lynas’ U.S. subsidiary, builds on from a ‘Phase 1’ funding for a heavy rare earth…
WELLINGTON (Reuters) – The World Bank said on Tuesday that it had approved a fisheries project in the Solomon Islands, its third new project announced for the Pacific country in as many weeks. The $13.5 million project will strengthen regional fisheries management to better protect it from illegal fishing, according to the World Bank. It…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. equities tumbled on Monday, with the S&P 500 confirming it is in a bear market, as fears grow that the expected aggressive interest rate hikes by the Federal Reserve would push the economy into a recession. The benchmark S&P index has fallen for four straight days, with…
It’s a Jack and Coke with no bartender required. Coca-Cola Co. said Monday it’s partnering with Brown-Forman Corp., the maker of Jack Daniel’s Tennessee Whiskey, to sell premixed cocktails. The canned Jack and Coke will be sold globally after a launch in Mexico late this year. A zero-sugar version will also be available. “This relationship…
SAN SALVADOR (Reuters) – El Salvador’s Finance Minister Alejandro Zelaya on Monday dismissed concerns that a sharp drop in the value of bitcoin could hurt the Central American nation’s fiscal health. El Salvador last September became the first country to make bitcoin a legal tender, alongside the U.S. dollar, despite criticism by the International Monetary…
