By A. Ananthalakshmi and Rozanna Latiff KUALA LUMPUR (Reuters) – Malaysia has launched an investigation to uncover how hundreds of migrant workers arrived from South Asia without jobs, despite having paid steep fees to get employment, officials and rights groups said. The issue revives concerns over labour abuses in Malaysia, a key manufacturing hub at…
By Wayne Cole SYDNEY (Reuters) -Australia’s central bank is expected to get a new specialist board to manage monetary policy that will give independent expert members more responsibility for setting interest rates, a dilution of the bank’s traditional power over policy. A 272-page review of the Reserve Bank of Australia (RBA) released on Thursday outlined…
SHANGHAI (Reuters) – Chinese internet users berated German automaker BMW on Thursday, accusing it of discrimination at the Shanghai auto show amid claims workers at its Mini booth favoured foreign over domestic visitors during an ice cream giveaway promotion. Mini apologised for the incident in question, saying in a statement on its official Weibo account…
By Marie Mannes STOCKHOLM (Reuters) – Sweden’s AB Volvo lifted its outlook for key heavy-duty truck markets in Europe and North America this year on Thursday as it reported a 32% year-on-year rise in order intake for the first quarter. The maker of vehicles under brands such as Mack Trucks and Renault as well as…
By Jamie McGeever ORLANDO, Florida (Reuters) -Markets are struggling to disentangle their assumption the Federal Reserve will quickly reverse its final rate rise within months from anxiety around a summer debt ceiling showdown – and suspect rates pricing may be skewed by the latter. Policymakers have indicated, via their median ‘dot plot’ projections and public…
By Farah Master HONG KONG (Reuters) -Western media reports on China’s population being overtaken by India deliberately ignores China’s development, using the topic to “bad mouth” it and advocate decoupling, state broadcaster CCTV said on Thursday. CCTV’s sharply worded commentary said the subtext from Western media in recent years was that China’s development was in…
By Richa Naidu and Jessica DiNapoli LONDON/NEW YORK (Reuters) – Consumer goods companies like P&G, Unilever and Nestle should start easing price increases as supply chain costs decline, investors told Reuters, worried that further hikes could hit market share and margin growth. The makers of everything from soap and ice cream to condoms and cleaning…
By Hyonhee Shin SEOUL (Reuters) -South Korean President Yoon Suk Yeol will visit the United States next week for a summit with President Joe Biden as the allies grapple for ways to handle the challenge posed by North Korea’s growing nuclear and missile arsenal. Yoon’s April 24-29 trip will be the first state visit to…
By James Davey LONDON (Reuters) -European discount retailer Pepco Group reported a 22.8% surge in first-half revenue, as its low prices chimed with cash-strapped consumers and it opened a net 166 new stores. The Warsaw-listed group said on Thursday revenue was 2.84 billion euros ($3.11 billion) for the six months to March 31. Like-for-like sales…
(Reuters) – Consumer healthcare group Haleon expects 2023 organic revenue growth towards the upper end of its 4%-6% forecast, it said on Thursday, on strong demand and the restocking of its respiratory health products due to a bad cold and flu season. The company, the world’s biggest standalone consumer health business that sells non-prescription drugs,…
