By Cynthia Kim and Joori Roh SEOUL (Reuters) – South Korea’s central bank raised its benchmark rate to the highest since August 2019 on Thursday in a surprise move as it ramped up the fight against rampant inflation, which threatens its economic recovery. In its first ever rate review held without a governor, the bank’s…
(Reuters) – The Chinese Communist Party’s anti-corruption watchdog was among the agencies involved in a recent inquiry into links between billionaire Jack Ma’s Ant Group and state-owned Chinese companies, Bloomberg News reported on Wednesday. The Central Commission for Discipline Inspection (CCDI) was seeking to understand the influence of Ma’s fintech empire and the extent of…
By Stella Qiu and Alun John BEIJING (Reuters) – Asian shares tracked Wall Street higher on Thursday, while U.S. Treasury yields steadied and dollar retreated, as latest U.S. data raised hopes that inflation may be close to peaking, though several major central banks raised rates aggressively. Traders were waiting for a European Central Bank meeting…
By Wayne Cole SYDNEY (Reuters) -Australia’s unemployment rate held at a 13-year low in March as jobs growth slowed after months of strong gains, though record-high vacancies suggest it is only a matter of time before unemployment falls further. Figures from the Australian Bureau of Statistics on Thursday showed a jobless rate of 4.0%, when…
By Alun John HONG KONG (Reuters) – The dollar was on the back foot on Thursday after tumbling overnight, particularly against sterling and the euro, as U.S. yields paused their march higher, offering some relief to the bruised and battered yen. Traders were also waiting for the European Central Bank meeting later in the day,…
(Reuters) – A federal judge on Wednesday said a $137 million jury award, one of the largest of its kind, to a Black former factory worker who sued Tesla Inc for racial discrimination was excessive and should be reduced to $15 million. U.S. District Judge William Orrick in San Francisco ruled after jurors last October…
By Andrea Shalal WASHINGTON (Reuters) -The International Monetary Fund’s executive board on Wednesday approved creation of a new facility to help low-income and most middle-income countries deal with longer-term challenges such as climate change and pandemics. IMF Managing Director Kristalina Georgieva announced approval of the new Resilience and Sustainability Trust in a statement after the…
By Tetsushi Kajimoto TOKYO (Reuters) – More than three-quarters of Japanese firms say the yen has declined to point of being detrimental to their business, a Reuters poll found, with almost half of companies expecting a hit to earnings. The results of the Reuters Corporate Survey are one of the clearest signs yet that much…
By Balazs Koranyi and Francesco Canepa FRANKFURT (Reuters) – The European Central Bank may outline on Thursday a clearer schedule for unwinding its extraordinary stimulus, as worries over record-high inflation trump concerns about a war-related recession. The ECB has been reducing the pace of its money-printing programme for months but it has so far avoided…
(Reuters) -Federal Reserve Governor Christopher Waller on Wednesday said the U.S. central bank needs to raise rates aggressively to fight inflation, but not so abruptly as to stress markets, destroy jobs and push the economy into recession. “I don’t see value in trying to shock the markets; we are not in a Volcker kind of…
