BEIJING (Reuters) – China will likely further cut banks’ reserve ratio and interest rates in the second half of this year to support the economy, the China Securities Journal reported on Tuesday, citing policy advisors and economists. China’s economy rebounded faster than expected in the first quarter but lost momentum at the beginning of the…
KYIV (Reuters) – The Nova Kakhovka dam in the Russian-controlled parts of Ukraine’s Kherson region was blown up by Russian forces, the South command of Ukraine’s Armed Forces said on Tuesday. “The scale of the destruction, the speed and volumes of water, and the likely areas of inundation are being clarified,” the command said on…
SEOUL (Reuters) – The Bank of Korea (BOK) assesses it is more desirable to maintain its dollar liquidity than to increase gold holdings for foreign exchange reserves at this point, the central bank said. “A cautious approach is necessary for determining whether to increase the ratio of gold in the foreign exchange reserves,” the BOK’s…
TEGUCIGALPA (Reuters) – Honduran President Xiomara Castro is set to travel this week to China, her foreign minister said on Monday, the leftist leader’s first visit to the Asian giant after establishing formal diplomatic relations with it in March. Castro’s trip marks the latest step in the two nations’ new relationship, after her government ditched…
WASHINGTON (Reuters) -Life sciences firm Illumina on Monday filed an appeal against a Federal Trade Commission (FTC) order demanding that it divest cancer diagnostic test maker Grail over competition concerns in the U.S. market for cancer tests. The FTC, which enforces antitrust law, first filed a complaint in March 2021 to stop Illumina’s bid for…
(Reuters) – Dell Technologies Inc’s Australian unit has been found guilty by the country’s Federal Court to have misled customers about the prices or discounts on its add-on monitors on its website, Australia’s competition regulator said on Tuesday. When customers chose to buy a personal computer, Dell Australia gave them an option to bundle a…
By Navya Mittal (Reuters) – ASX Ltd lifted its capital expenditure outlook for fiscal 2024 on Tuesday, sending shares of the Australian bourse operator on track for their worst day since August 2012, if losses hold. Shares of ASX slipped as much as 10.1% to A$60.74, hitting their lowest since Jan. 16, 2019. The operator…
MEXICO CITY (Reuters) – Mexican telecom Telmex, a subsidiary of America Movil, has reached a deal with a workers’ union that proposes a 5.6% pay rise, the country’s labor ministry said on Monday, after extended negotiations. The pay hike would apply to workers and retirees earning less than 1,185.06 Mexican pesos ($67.90) a day, the…
(Reuters) – Commonwealth Bank of Australia, the country’s biggest lender, said on Tuesday it was removing transaction fees for its domestic retail and business banking customers sending money outside of the country using one of its digital platforms. Starting this month, the bank is waiving off a A$6 ($3.97) fee for international money transfers for…
By Stella Qiu SYDNEY (Reuters) – Australia’s current account surplus widened in the March quarter, helped by strong exports of resources and travel services, with net exports proving to be a much smaller drag on growth than first thought. Data from the Australian Bureau of Statistics on Tuesday showed the current account surplus widened to…
