By Lewis Jackson SYDNEY (Reuters) – Australia’s largest pension fund will pause use of the domestic unit of auditor PricewaterhouseCoopers (PwC) as the “big four” firm reels from a national scandal over its use of confidential government tax plans to drum up work with global clients. The roughly A$290 billion ($196.71 billion) fund, AustralianSuper, has…
By Yoruk Bahceli (Reuters) -Germany is leading the biggest rally in global bond markets since March’s banking rout as cooling inflation and a weakening economy suggest European Central Bank rate hikes are nearing an end. Borrowing costs, or bond yields, in the benchmark euro area issuer are down at least 20 basis points (bps) this…
By Kantaro Komiya and Sam Nussey TOKYO (Reuters) -Japan’s privacy watchdog said on Friday it has warned OpenAI, the Microsoft-backed startup behind the ChatGPT chatbot, not to collect sensitive data without people’s permission. OpenAI should minimise the sensitive data it collects for machine learning, the Personal Information Protection Commission said in a statement, adding it…
A look at the day ahead in European and global markets from Ankur Banerjee A risk-on rally fuelled by rising expectations the Federal Reserve will stand still on interest rates in two weeks, and by relief that the congress approved a U.S. debt-limit suspension, took hold in Asia and looked set to continue as Europe…
By Abhirup Roy SAN FRANCISCO (Reuters) -Electric truck maker Nikola Corp may execute a reverse stock split if its stock does not comply with Nasdaq’s minimum bid price requirements within a certain period, its chief executive Michael Lohscheller said on Thursday. Nikola, which closed at about 57 cents on Thursday as it battles mounting losses,…
By Jonathan Landay and Arshad Mohammed WASHINGTON (Reuters) -The United States said it will stop providing Russia some notifications required under the New START arms control treaty from Thursday, including updates on its missile and launcher locations, to retaliate for Moscow’s “ongoing violations” of the accord. In a fact sheet on its website, the State…
By Leika Kihara TOKYO (Reuters) – Bank of Japan Governor Kazuo Ueda said the central bank did not have a set time frame for achieving its 2% inflation target due to uncertainty over the price outlook. Ueda’s approach contrasts with that of his predecessor Haruhiko Kuroda, who deployed in 2013 a massive asset-buying programme to…
By Stella Qiu SYDNEY (Reuters) -Australia will raise the minimum wage by 5.75% from July 1 as families grapple with soaring living costs, a decision that businesses and some economists say risks further stoking inflation and interest rates. The independent Fair Work Commission (FWC) on Friday decided on a 5.75% pay rise for workers on…
By Kantaro Komiya TOKYO (Reuters) – Japan’s economy likely grew more than initially estimated in the first three months of this year, thanks to solid investments by manufacturers, a Reuters poll showed. Revised real gross domestic product (GDP) data is expected to show the world’s third-largest economy expanded at an annualised rate of 1.9% in…
By Richard Cowan and Gram Slattery WASHINGTON (Reuters) -The U.S. Senate on Thursday passed bipartisan legislation backed by President Joe Biden that lifts the government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default. The Senate voted 63-36 to approve the bill that was passed on Wednesday by the House of Representatives,…
