By Kantaro Komiya TOKYO (Reuters) -Japan’s economic revitalisation minister stepped down on Monday after growing criticism of his failure to fully explain his ties to a church group that critics say is akin to a cult, a move that will be a blow to Prime Minister Fumio Kishida. Daishiro Yamagiwa, the first person to resign…
By Norihiko Shirouzu (Reuters) – Toyota is considering a reboot of its electric-car strategy to better compete in a booming market it has been slow to enter, and has halted some work on existing EV projects, four people with knowledge of the still-developing plans said. The proposals under review, if adopted, would amount to a…
BANGKOK (AP) — Myanmar’s central bank has promised improvements and warned against currency manipulation after an international watchdog put the military-controlled country on a terrorism and financial crimes blacklist. The Financial Action Task Force recommended that Myanmar be included among countries requiring stronger due diligence, citing deficiencies in its enforcement of precautions against money laundering…
By Wayne Cole and Amanda Cooper LONDON/SYDNEY (Reuters) – The dollar weathered another suspected blast of Japanese intervention to rise against the yen on Monday, while European markets got a lift from hopes that U.S. interest rates could rise more slowly than previously thought. The dollar roared to 149.70 yen in early trade before hastily…
By Tetsushi Kajimoto and Yoshifumi Takemoto TOKYO (Reuters) -Japanese policymakers on Monday continued efforts to tame sharp yen falls, including through two straight market days of suspected intervention, but ultimately failed to prop up the currency against persistent dollar strength. The yen’s sell-off is hurting the world’s third-largest economy by driving already surging import bills…
BEIJING (AP) — China’s economic growth picked up in the latest quarter but still was among the weakest in decades as the ruling Communist Party tries to reverse a slump while enforcing anti-virus controls and a crackdown on debt in its vast real estate industry. The world’s second-largest economy grew by 3.9% over a year…
By Florence Tan SINGAPORE (Reuters) -Oil prices slid more than 1% on Monday after Chinese data showed that demand from the world’s largest crude importer remained lacklustre in September as strict COVID-19 policies and fuel export curbs depressed consumption. Brent crude futures for December settlement slid $1, or 1.1%, to $92.50 a barrel by 0609…
SEOUL (Reuters) -South Korea’s Hyundai Motor Co raised its full-year revenue and profit margin guidance on Monday, betting on strong sales of luxury models and sport utility vehicles and a plunge in the local currency after a lacklustre third quarter. But in a mixed outlook, the company said it now expects to sell only 4.01…
BANGKOK (AP) — Shares advanced Tuesday in Asia after Wall Street shook off an early bout of unsettled trading and ended higher. U.S. futures edged 0.1% higher and oil prices also gained. Hong Kong’s benchmark Hang Seng gained 0.9% to 15,313.22 after a 6.4% selloff the day before that took it to its lowest close…
By Wayne Cole SYDNEY (Reuters) – The U.S. dollar weathered another suspected blast of Japanese intervention to push higher on the yen on Monday, while for equities a drop in Chinese markets took the shine off hopes for an eventual slowdown in U.S. interest rate hikes. The dollar started in a bullish mood with an…
