PARIS (Reuters) – Pratt & Whitney is seeing “solid progress” in the aerospace supply chain after bottlenecks caused by the pandemic, Shane Eddy, president of engine maker Pratt & Whitney, said at the Paris Airshow on Wednesday. The Raytheon Technologies subsidiary, which has faced a backlash from airlines over durability problems and a shortage of…
(Reuters) -Commonwealth Bank of Australia on Wednesday cut its buffer rate for some borrowers refinancing their existing home loan to 1% from the industry standard of 3%, providing relief to many clients who would otherwise fail to qualify due to high interest rates. The country’s prudential regulator advises lenders to refinance home loans only if…
TOKYO (Reuters) – Japan saw a slight decline in visitors in May from the previous month, when a rush of tourists came to see the nation’s famous cherry blossoms without COVID-19 restrictions, official data showed on Wednesday. The number of foreign visitors for business and leisure came in just below 1.9 million last month from…
TOKYO (Reuters) – Japan saw a slight decline in visitors in May from the previous month, when a rush of tourists came to see the nation’s famous cherry blossoms without COVID-19 restrictions, official data showed on Wednesday. The number of foreign visitors for business and leisure came in just below 1.9 million last month from…
(Reuters) – Australian Perpetual on Wednesday confirmed an extended tech outage over an IT security incident, affecting some of its funds, though the fund manager reaffirmed that all its client investments and its own systems were unaffected and secure. “Perpetual’s listed products, institutional mandates, Pendal, Perpetual Corporate Trust, Perpetual Wrap clients, and all of our…
By Qiaoyi Li and Liz Lee BEIJING/SHANGHAI (Reuters) -China unveiled on Wednesday a 520 billion yuan ($72.3 billion) package to boost sales of electric vehicles (EVs) and other green cars over the next four years to prop up softening auto demand, sending shares of automakers sharply higher. The package, widely expected after an earlier government…
MADRID (Reuters) – Britain telecoms company Vodafone has hired investment bank Morgan Stanley to evaluate the options for its Spanish unit, Spanish newspaper Expansion reported on Wednesday citing unidentified market sources. The company has started a strategic review on the future of its Spanish unit and its CEO Margherita Della Valle said last month the…
By John Irish PARIS (Reuters) -Leaders meeting this week at a summit in Paris are set to back a push for multilateral development banks like the World Bank to put more capital at risk to boost lending, according to a draft summit statement seen by Reuters. Multilateral development banks are expected to be at the centre of…
By Leika Kihara KAGOSHIMA, Japan (Reuters) -Bank of Japan board member Seiji Adachi said the chance of tweaking the bank’s yield curve control policy at next month’s rate review was small given diminishing market distortions and a lack of price trend data. He also said the central bank does not use monetary policy as a…
OTTAWA (Reuters) -A Canadian air force helicopter crashed into the Ottawa River early on Tuesday, killing two armed forces members and two others on board have been recovered and are in hospital, Prime Minister Justin Trudeau said. Trudeau said he spoke with Canada’s Chief of Defence Staff to express “condolences to the families and colleagues…
