By Leika Kihara TOKYO (Reuters) – New Bank of Japan Governor Kazuo Ueda’s main challenge will be to phase out yield curve control (YCC), which has come under criticism for distorting markets by keeping long-term interest rates from rising. Under YCC, the BOJ targets short-term interest rates at -0.1% and the 10-year government bond yield…
By Florence Tan SINGAPORE (Reuters) – Oil prices nudged higher in early Asian trade on Monday, supported by the prospect of tighter supplies from OPEC+ producers from May, but concerns about the global economic outlook capped gains. Brent crude futures gained 13 cents, or 0.2%, to $85.25 a barrel by 2356 GMT, while U.S. West…
By Mohi Narayan and Jonathan Saul NEW DELHI/LONDON (Reuters) -Global fuel suppliers are turning to longer and costlier routes that produce more carbon emissions to move their diesel and other products as Western restrictions on Russian cargoes have reshuffled global energy shipping patterns. As a result of the European Union ban on Russian fuel that…
By Eimi Yamamitsu TOKYO (Reuters) -The bankruptcy filing by Richard Branson’s Virgin Orbit Holdings Inc has dealt a blow to Japan’s hopes of building a domestic space industry, with plans for a Kyushu-based spaceport designed to attract tourism on hold for lack of funding. Oita prefecture, home to Japan’s largest number of hot springs, partnered…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The dramatic escalation in China-Taiwan tensions will loom large over Asia on Monday, potentially cranking up market volatility in a session with trading volume already likely to be reduced with much of Europe closed for the Easter Monday…
SHANGHAI (Reuters) -Tesla Inc is opening a factory in Shanghai, capable of producing ten thousand Megapack energy product per year, to supplement output of Megapack factory in California, the company said in a tweet on Sunday. The news was first reported by Chinese state media outlet Xinhua. Elon Musk’s automaker will break ground on the…
By Divya Rajagopal TORONTO (Reuters) – Canada’s move to expand the investment tax credit for mining companies to align it with policies in the United States is accelerating funding talks for critical miners, company executives told Reuters. Prime Minister Justin Trudeau’s government proposed a 30% investment tax credit for expenses related to the exploration of…
By Fergal Smith TORONTO (Reuters) – The Bank of Canada is expected to take in stride surprising recent economic strength and leave interest rates unchanged at its meeting on Wednesday, pinning its hopes on activity cooling as higher borrowing costs sink in, analysts said. Last month, the Bank of Canada became the first major global…
By Lawrence Delevingne (Reuters) – As First Republic Bank’s share price fell by double-digits in the aftermath of the collapse of Silicon Valley Bank last month, some people close to the San Francisco-based lender were worried short sellers were exacerbating its travails, according to a source familiar with the situation. Investors who wager shares in…
SHANGHAI (Reuters) -Tesla Inc will build a factory in Shanghai to make the Megapack energy storage product, Chinese state media outlet Xinhua reported on Sunday. Elon Musk’s automaker will break ground on the plant in the third quarter and start production in the second quarter of 2024, Xinhua reported from a signing ceremony in Shanghai….
