By Joe Cash BEIJING (Reuters) -China’s state planning body and finance ministry on Thursday said they will craft policies aimed at stimulating spending on housing and unlocking consumer savings that have been built up during the pandemic. The announcements, reported by state media, also included plans to help the elderly, improve child care services and…
(Reuters) – A Senate committee on Wednesday called for greater parliamentary oversight of the Bank of Canada and more transparency from the central bank as it battles to restore credibility lost during last year’s fight to contain inflation. The Bank of Canada has come under a rare attack from critics, including opposition Conservative leader Pierre…
By Tetsushi Kajimoto TOKYO (Reuters) – Growth in Japan’s merchandise exports slowed sharply in January amid weakening Chinese demand for cars and chipmaking machinery, stoking concern about a global slowdown and creating the country’s largest trade deficit on record. Trade figures issued on Thursday followed weaker-than-expected gross domestic product data, underscoring the challenge for the…
By Johann M Cherian and Noel Randewich (Reuters) – The S&P 500 ended higher on Wednesday after stronger-than-expected retail sales data offered evidence of resilience in the U.S. economy, but gains were capped as investors worried about more interest rate hikes by Federal Reserve in the months ahead. A Commerce Department report showed retail sales…
By Nivedita Balu (Reuters) -Shopify Inc on Wednesday forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signaling that macroeconomic challenges were weighing on its merchants’ online businesses. U.S-listed shares of Shopify, which started 2022 as the most valuable Canadian company before losing three-quarters of its value, fell about…
By Kylie Madry MEXICO CITY (Reuters) – Mexican airline Aeromar announced the “definitive end” of operations on Wednesday, as the heavily indebted company failed to reach agreements with providers and a rumored potential investor. The struggling company is the latest in a string of Mexican airlines hit with major financial woes in recent years, following…
By Jonathan Stempel (Reuters) – Charlie Munger, the longtime business partner of Warren Buffett at Berkshire Hathaway Inc, on Wednesday said China remains a top opportunity for investors despite geopolitical risks. Munger also doubled down on his recent Wall Street Journal editorial calling for the U.S. government to follow China and ban cryptocurrency, saying “people…
WASHINGTON (Reuters) -U.S. House Judiciary Committee Chairman Jim Jordan on Wednesday subpoenaed the chief executives of Alphabet, Amazon, Apple, Facebook and Instagram parent Meta Platforms, and Microsoft for documents and communications relating to free-speech issues. Jordan and other conservatives accused the companies of suppressing conservative speech during the Trump administration, and expanded that accusation to…
WASHINGTON (Reuters) – Chrysler-parent Stellantis is recalling 340,000 diesel Ram pickup trucks to replace an electrical connector after reports of six fires, and recommends parking the vehicles outside until repairs are made. The company’s U.S. unit FCA US discovered that a part on some trucks may overheat and in rare instances may pose a fire…
WASHINGTON (Reuters) – World Bank President David Malpass will step down on June 1 after more than four years at the helm of the multilateral development bank, the bank said on Wednesday. It was not immediately clear why Malpass, who was appointed by then-President Donald Trump, was departing before the end of his five-year term….
