BEIJING (Reuters) – China will strengthen its policy guidance to support advanced manufacturing, Premier Li Qiang was quoted as saying by state radio on Wednesday. The world’s second-biggest economy is under increasing pressure from the United States, which has cited national security in restricting access to Chinese semiconductors and artificial intelligence technology. “As the situation…
By David Milliken and William Schomberg LONDON (Reuters) – British inflation unexpectedly rose to 10.4% in February, pushed up by higher food and drink prices in pubs and restaurants, according to official data which is likely to prompt the Bank of England to raise interest rates on Thursday. Economists polled by Reuters had forecast that…
(Reuters) – U.S. stock index futures fell on Wednesday in the run-up to a crucial interest rate decision by the Federal Reserve, which is widely expected to raise rates by a quarter percentage point despite the recent turmoil in the banking sector. The Fed’s two-day monetary policy meeting will end at 2 p.m. ET (1800…
(Reuters) – Tencent Holdings reported a drop in annual revenue for the first time ever, as China’s economic slowdown due to the pandemic and a long-running regulatory crackdown took a toll. The world’s largest video game company and the operator of the WeChat messaging platform turned in a revenue of 554.55 billion yuan for 2022,…
By William Schomberg and David Milliken LONDON (Reuters) – British consumer price inflation unexpectedly rose to 10.4% in February, pushed up by drinks prices in pubs and restaurants, official data showed on Wednesday, a day before the Bank of England announces its latest decision on interest rates Economists polled by Reuters had forecast that the…
(Corrects para 5 to say market is pricing in 85% chance of 25 bps hike and 15% chance of no increase, not the other way around) A look at the day ahead in European and global markets from Ankur Banerjee With about 12 hours still to go before the Fed announces its policy decision, investors…
SEOUL (Reuters) -South Korea’s trade ministry said on Wednesday that the United States’ proposed rules to prevent $52 billion in chip funding from being used by “countries of concern” will not force recipients to shut down their China factories. The U.S. Commerce Department on Tuesday proposed limits for recipients of U.S. chip manufacturing and research…
By Wayne Cole SYDNEY (Reuters) – Asian shares staged a cautious bounce on Wednesday with hopes a global banking crisis would be averted vying with uncertainty over the outlook for U.S. interest rates as the Federal Reserve holds a high-stakes meeting on policy. Efforts by U.S. Treasury Secretary Janet Yellen to calm nerves seemed to…
By David Shepardson WASHINGTON (Reuters) -TikTok’s chief executive will tell lawmakers the Chinese-owned short video app with more than 150 million American users has never, and would never, share U.S. user data with the Chinese government amid growing U.S. national security concerns. “TikTok has never shared, or received a request to share, U.S. user data…
MELBOURNE (Reuters) – Australia’s revenue potential from developing a battery industry has doubled to A$16.9 billion ($11.28 billion) by 2030 in less than two years, highlighting the speed of the sector’s expansion and the need to act quickly, an Accenture report showed on Wednesday. Australia’s battery industry is poised to become a global leader given…
