HONG KONG (Reuters) -The Hong Kong Monetary Authority (HKMA) said on Thursday it would raise its base rate charged through the overnight discount window by 50 basis points to 4.75%, hours after the U.S. Federal Reserve delivered a rate hike of the same margin. The U.S. central bank raised interest rates by half a percentage…
TOKYO (AP) — Japan’s trade deficit surged to over 2 trillion yen ($15 billion) in November as higher costs for oil and a weak yen combined to push imports sharply higher. It was the 16th straight month of red ink and a record high for the month of November. The country will likely post a…
NEW YORK (AP) — Stocks fell broadly on Wall Street Thursday following the latest signal from the Federal Reserve that interest rates will need to go higher than previously expected in order to tame inflation. The S&P 500 fell 2.3% as of 12:33 p.m. Eastern. The Dow Jones Industrial Average fell 772 points, or 2.3%,…
By Davide Barbuscia and David Randall (Reuters) – Some investors believe an expected recession will force the Federal Reserve to loosen monetary policy next year, even as the central bank projects it will raise rates higher than it previously anticipated and keep them there longer as it fights to crush inflation. The dynamic came into…
By Liangping Gao and Ryan Woo BEIJING (Reuters) -China’s property sector shrank further in November, with falls in prices, sales and investment, partly as COVID-19 restrictions hit demand, although recent market-supportive policies and the easing of COVID curbs have burnished the outlook. Analysts expect sentiment to recover gradually next year, as the relaxation of COVID…
NEW YORK (AP) — The Federal Reserve’s move Wednesday to raise its key rate by a half-point brought it to a range of 4.25% to 4.5%, the highest level in 14 years. The Fed’s latest increase — its seventh rate hike this year — will make it even costlier for consumers and businesses to borrow…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan is set to keep ultra-low interest rates and dovish guidance next week, signalling its resolve to hold off on withdrawing stimulus until it clearly sees that the economy can withstand a hit from slowing global growth. The decision will follow the U.S. Federal Reserve’s latest…
(Reuters) – The California Energy Commission on Wednesday approved a $2.9 billion investment plan to accelerate the state’s 2025 electric vehicle (EV) charging and hydrogen refueling goals. The investment will result in 90,000 new EV chargers across the state, more than double the 80,000 chargers already installed, the energy commission said. Combined with funding from…
(Reuters) -Tesla Inc Chief Executive Officer Elon Musk has sold 22 million shares worth $3.58 billion in the electric-vehicle maker, a U.S. securities filing showed on Wednesday. The latest sale brings the total Tesla stocks sold by Musk to nearly $40 billion over the past year. Tesla did not immediately respond to a Reuters request…
By Nia Williams and Rod Nickel (Reuters) -One week after Canada’s Keystone pipeline spilled more than 14,000 barrels of oil in rural Kansas in the United States, the cause is still unknown, according to regulators. The 622,000 barrel-per-day pipe has been shut since last Wednesday, when a leak was discovered. Oil sprayed nearby pastures and…
