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…
By Laila Kearney and Trixie Sher Li Yap (Reuters) – Oil prices posted gains of more than 1% in Asian trade on Wednesday on falling U.S. crude inventories and a lower greenback, but concerns OPEC+ will leave output unchanged at its upcoming meeting and weak China data limited gains. Brent crude futures firmed 95 cents…
By Kantaro Komiya and Kaori Kaneko TOKYO (Reuters) – Japan’s factory output fell for a second consecutive month in October, as stalling global demand and lingering supply bottlenecks put a lid on Japanese manufacturers’ production plans. The feeble business activity highlights challenges for the world’s third-largest economy, which has been lagging behind peers in recovering…
By Kane Wu HONG KONG (Reuters) – Asian shares wobbled on Wednesday as investors remain cautious about China’s path to reopening its economy after it released disappointing manufacturing data, with China and Hong Kong stocks wiping out strong gains from the previous day. MSCI’s gauge of Asia Pacific stocks outside Japan was up 0.02% at…
MINNEAPOLIS (AP) — The Minnesota Supreme Court will hear arguments Wednesday on an attempt by environmental groups to cancel a key permit for a long-stalled copper-nickel mine. Opponents of PolyMet Mining Corp.′s project say state regulators should have included “end-of-pipe” limits on discharges of mercury, sulfates and other pollutants in the water quality permit. They…
