BEIJING (Reuters) – An official of China’s state planner said on Wednesday that the country’s foreign investment has increased steadily so far this year and that it will encourage more foreign investment in the manufacturing industry. Xia Qing was speaking at an APEC workshop on supply chains in Beijing. China’s foreign direct investment (FDI) rose…
By Stella Qiu SYDNEY (Reuters) – Asian shares wobbled in cautious trading on Wednesday while the dollar sagged slightly as investors braced for the U.S. Federal Reserve’s policy outcome later in the global day with many looking for any signs of a slowdown in future rate hikes. MSCI’s broadest index of Asia-Pacific shares outside Japan…
By Kevin Buckland TOKYO (Reuters) – The U.S. dollar slipped from near a one-week peak versus major peers on Wednesday, with traders on tenterhooks before a looming Federal Reserve rate decision that should also give clues on the future policy path. The yen outperformed, seeing a sudden burst of strength mid-morning Japan time, with traders…
By Leika Kihara TOKYO (Reuters) – Bank of Japan policymakers took note of growing inflationary pressure with one of them calling for the need to eventually communicate an exit strategy from ultra-loose monetary policy, minutes of their meeting in September showed on Wednesday. The BOJ maintained ultra-loose monetary policy at the Sept. 22 meeting and…
By Choonsik Yoo SEOUL (Reuters) -South Korea’s annual consumer inflation in October ticked up from September against market expectations for no change, led by lagging effects of earlier global raw materials prices, government data showed on Wednesday. The consumer price index (CPI) rose 5.7% in October from a year earlier, according to the Statistics Korea…
OTTAWA (Reuters) – The Bank of Canada still needs to hike interest rates further to fight stubbornly high inflation, Governor Tiff Macklem said on Tuesday, reiterating that “we are getting closer, but we are not there yet.” In opening remarks to the Senate’s banking, trade and economy committee, he said the central bank was still…
CHICAGO (AP) — United Airlines pilots have overwhelmingly rejected a tentative contract, the latest move showing the resolve by airline unions to push for significant pay raises. The deal would have given pilots raises of nearly 15% over 18 months, according to the union. The Air Line Pilots Association said Tuesday that 94% of the…
NEW YORK (AP) — Days after taking over Twitter and a week before the U.S. midterm elections, billionaire Elon Musk has positioned himself as moderator-in-chief of one of the most important social media platforms in American politics. Musk has said he won’t make major decisions about content or restoring banned accounts before setting up a…
By Tiyashi Datta and Aditya Soni (Reuters) -Electronic Arts Inc lowered its annual bookings forecast on Tuesday as the publisher of “FIFA” and “Apex Legends” struggles with this year’s surge in the U.S. dollar and a gaming industry slowdown from pandemic heights. The company now expects annual bookings – an indicator of future revenue –…
By Jonathan Stempel (Reuters) -Dollar General Corp, one of the largest U.S. discount retailers, was sued on Tuesday by Ohio, which accused the company of baiting shoppers with low prices on store shelves, only to then charge more at the register. Citing inflationary pressures faced by consumers, Ohio Attorney General Dave Yost said he sued…
