SEOUL (Reuters) -South Korea will discuss with Japan re-establishment of their bilateral foreign exchange swap line that expired in 2015, its finance minister said on Thursday. “Current economic issues, including bilateral and regional financial cooperation, will be discussed at the bilateral finance minister meeting on June 29,” Minister Choo Kyung-ho said, adding that currency swap…
TOKYO (Reuters) -Japan’s Toshiba Corp said on Thursday its board of directors has decided to recommend shareholders take up a tender offer from a consortium led by private equity firm Japan Industrial Partners (JIP). The board earlier this year accepted the buyout offer, which would value the conglomerate at 4,620 yen a share or 2…
By Kantaro Komiya TOKYO (Reuters) – Japan’s economy grew more than initially thought in January-March, revised data showed on Thursday, as a post-pandemic pickup in domestic spending and company restocking helped offset the hit to exports from slowing global demand. With inflation running at a four-decade high, further growth in the world’s third-largest economy will…
(Reuters) – Republicans in the U.S. House of Representatives have abandoned plans for a vote on Thursday to hold FBI Director Christopher Wray in contempt of Congress over agency documents related to an alleged “criminal bribery scheme” involving President Joe Biden. The House Oversight and Accountability Committee had been set to vote over accusations that…
SEOUL (Reuters) – South Korea’s central bank warned on Thursday that an early shift in its monetary policy stance could pile more pressure on the local currency, a risk that needs to be properly addressed. Highly uncertain inflation, accumulated financial imbalance, and credit risks related to the real estate market are among issues that required…
BEIJING (Reuters) -China’s biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pressure on profit margins and reduce lending costs, providing some relief for the financial sector and wider economy. Industrial and Commercial Bank of China Ltd, Agricultural Bank of China Ltd, Bank of China Ltd…
BEIJING (Reuters) -China’s biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pressure on profit margins and reduce lending costs, providing some relief for the financial sector and wider economy. Industrial and Commercial Bank of China Ltd, Agricultural Bank of China Ltd, Bank of China Ltd…
(Reuters) -Standard Chartered is starting to lay off employees across Singapore, London, and Hong Kong hubs as part of an existing plan to cut costs by more than $1 billion through 2024, Bloomberg News reported on Wednesday. The British bank had previously said that it aims savings of $1.3 billion under a cost-efficiency program. The…
(Reuters) -ByteDance-owned TikTok hopes to more than quadruple the size of its worldwide e-commerce operations to as much as $20 billion in merchandise sales this year, relying on growth in Southeast Asia, Bloomberg News reported on Wednesday, citing people familiar with the matter. The increase compares to last year’s $4.4 billion in gross merchandise value,…
By Nelson Renteria SAN SALVADOR (Reuters) -El Salvador’s president signed into law an electoral reform on Wednesday that reduces the size of Congress by nearly a third, a move the ruling party says will reduce spending and critics say consolidates power ahead of elections. The reform, announced last week by President Nayib Bukele in an…
