South Korea think-tank raises inflation forecast on higher energy prices

SEOUL (Reuters) – A South Korean government think-tank revised its annual inflation projection upwards on Thursday, citing the recent rise in energy prices, although it said the need for interest rate hikes has lessened. The Korea Development Institute (KDI) said in its quarterly revision of economic forecasts this year’s inflation would be 3.5%, compared with…

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Biden unlikely to attend ASEAN summits in September on trip to Asia -sources

By David Brunnstrom and Stanley Widianto WASHINGTON/JAKARTA (Reuters) -U.S. President Joe Biden is unlikely to attend summits with Southeast Asian leaders in Jakarta next month, multiple sources told Reuters, an absence that would raise questions about U.S. commitment to a region vital in its efforts to push back against China’s expanding influence. Biden is due…

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Sony shares slide after earnings highlight concern about games, sensors

By Sam Nussey TOKYO (Reuters) -Shares in Japan’s Sony fell 6% in Tokyo trade after first-quarter profit tumbled, with the entertainment conglomerate reporting lacklustre performances by its movie and financial divisions. Operating profit slid 31% and comments by Sony executives over demand for its games and image sensors units also sparked concern. The PlayStation 5…

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Jamie Dimon, JPMorgan board defeat shareholders’ Jeffrey Epstein lawsuit

By Jonathan Stempel NEW YORK (Reuters) – A federal judge has dismissed a shareholder lawsuit accusing JPMorgan Chase Chief Executive Jamie Dimon and his board of directors of ignoring red flags surrounding disgraced former client Jeffrey Epstein. In a Wednesday evening decision, U.S. District Judge Jed Rakoff said shareholders led by Miami and Pittsburgh pension…

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