TOKYO (AP) — Japan’s Cabinet approved Friday a hefty economic package including 29 trillion yen ($200 billion) in government spending to counter the blow to household budgets from inflation, signaling that the greater concern of its policymakers is that the economy will stall, not overheat. While central banks around the world are raising interest rates…
By Leika Kihara TOKYO (Reuters) – The Bank of Japan kept ultra-low interest rates on Friday and maintained its dovish guidance, cementing its status as an outlier among global central banks tightening monetary policy, as recession fears dampen prospects for a solid recovery. In fresh quarterly projections, the BOJ revised up its core consumer inflation…
By Daina Beth Solomon PIEDRAS NEGRAS, Mexico (Reuters) – Until last year, Julieta Monica Morales was another factory worker making T-shirts in central Mexico, fuming over poor pay and a broken union system she thought served companies more than workers. Now, she is at the head of her own fledgling union and taking on the…
By Leika Kihara TOKYO (Reuters) – The International Monetary Fund cut Asia’s economic forecasts on Friday as global monetary tightening, rising inflation blamed on the war in Ukraine, and China’s sharp slowdown dampened the region’s recovery prospects. While inflation in Asia remains subdued compared with other regions, most central banks must continue raising interest rates…
(Reuters) -Australia’s Qantas Airways Ltd on Friday “expressed disappointment” at the country’s competition regulator delaying its decision on the carrier’s $394 million buy of Alliance Aviation Services. The Australian Competition & Consumer Commission (ACCC) has delayed the provisional date to announce its final verdict on the deal three times so far, with the decision now…
MEXICO CITY (Reuters) – Auto manufacturing companies Volkswagen and Continental both pledged major investments in Mexico on Thursday totaling nearly $1 billion, one of the biggest sums for the sector to be announced in a single day during the current government. Volkswagen said it will invest $763.5 million between 2022 and 2025 at its complex…
By Deena Beasley (Reuters) – Gilead Sciences Inc on Thursday posted a higher-than-expected third-quarter profit on the back of strong demand for its HIV and cancer drugs, which helped offset lower sales of its COVID-19 antiviral drug and acquisition expenses. The U.S. biotech company also increased its forecast for full-year revenue and earnings, sending its…
By Dawn Chmielewski and Nivedita Balu (Reuters) – Apple Inc on Thursday reported revenue and profit that topped Wall Street targets, one of the few bright spots in a tech sector battered by spending cutbacks due to inflation. The forecast for the holiday quarter was more grim. While not providing specific numbers, Apple said revenue…
Apple managed to boost both its sales and profit during a summertime quarter that depressed the fortunes of most other major tech companies, but that doesn’t necessarily mean the iPhone maker will be immune to a potential recession. Even though Apple fared reasonably well, the July-September results released Thursday signaled that the world’s most valuable…
NEW YORK (AP) — Amazon returned to profitability over the summer after two consecutive quarters of losses, but its stock fell sharply in after-hours trading due to weaker-than-expected revenue and disappointing projections for the current quarter. The company on Thursday reported revenue for the three months that ended Sept. 30 of $127.1 billion, boosted by…
