FRANKFURT, Germany (AP) — Inflation in Europe has eased for the first time in more than a year as energy prices drifted down from painful highs, but the double-digit rate still hovers near a record that has robbed consumers of their spending power and led economists to predict a recession. The consumer price index in…
By Cynthia Kim SEOUL (Reuters) -South Korea’s central bank is ready to adjust its pace of policy tightening to achieve a soft landing in real estate and hopes the peak of its target rate in this cycle will be around 3.5%, its governor said at the Reuters NEXT conference on Wednesday. Governor Rhee Chang-yong declined…
BEIJING (AP) — A campaign to vaccinate the elderly has sparked hopes China might roll back severe anti-virus controls that prompted protesters to demand President Xi Jinping resign, but the country faces daunting hurdles and up to a year of hard work before “zero COVID” can end. Stock markets rose after the National Health Commission…
SINGAPORE (Reuters) – The U.S. Securities and Exchange Commission has yet to approve any spot bitcoin exchange-traded fund listings to date, commissioner Mark Uyeda said at the sidelines of a forum in Singapore on Wednesday. “We’ve had a number of applications … none of those have been approved to date,” said Uyeda, who was in…
BANGKOK (AP) — Shares advanced in Asia on Thursday after a rally on Wall Street spurred by the Federal Reserve chair’s comments on easing the pace of interest rate hikes to tame inflation. Signs that China may be shifting its approach to containing COVID-19 outbreaks to focus more on vaccinations also helped drive buying of…
NEW DELHI (AP) — India’s oldest and largest conglomerate, Tata Sons, will merge its Air India with Vistara, which it jointly runs with Singapore Airlines, in a major step toward revamping the country’s debt-laden national carrier. The merger will strengthen Singapore Airlines’ foothold in India’s fast-growing aviation market, the company said in a statement. It…
OSLO (Reuters) – Swedish fashion retailer H&M will cut some 1,500 jobs as part of its cost cutting drive and book a restructuring charge of 800 million Swedish crowns ($75.80 million) in the fourth quarter, it said on Wednesday. In September, H&M, the world’s No. 2 fashion retailer, launched a plan to save 2 billion…
By Gayatri Suroyo and Stefanno Sulaiman JAKARTA (Reuters) -Indonesian central bank governor Perry Warjiyo emphasised on Wednesday the need to adjust interest rates early to control inflation, which is near its highest rate in seven years. But availability of energy subsidies next year would let Bank Indonesia (BI) moderate rises in interest rates, Warjiyo said….
WASHINGTON (AP) — The U.S. House moved urgently to head off the looming nationwide rail strike on Wednesday, passing a bill that would bind companies and workers to a proposed settlement that was reached in September but rejected by some of the 12 unions involved. The measure passed by a vote of 290-137 and now…
TOKYO (Reuters) – Japan’s Nissan Motor Co has signed a 200-billion-yen ($1.44 billion) green loan agreement to fund zero-emission mobility investments, the automaker said on Wednesday. The syndicated loan was arranged by Mizuho Bank and MUFG Bank with contract periods of five and seven years, it said in a statement. The funds will be used…
