By Takaya Yamaguchi and Kentaro Sugiyama Tokyo (Reuters) -Japan’s government is likely to appoint academic Kazuo Ueda as the Bank of Japan’s next governor, two government officials told Reuters, a surprise choice that boosted the yen as investors bet he could phase out super-low interest rates sooner than expected. Ueda, a former member of the…
(Reuters) – Finnish insurer Sampo on Friday reported a bigger-than-expected drop in fourth-quarter earnings citing challenging capital markets environment, sending its shares falling more than 5%. The group’s profit before tax fell 67% to 390 million euros ($418.43 million) in the quarter, missing analysts’ 553-million-euro estimate in a company-provided poll. Sampo also said it expected…
By David Milliken and William James LONDON (Reuters) -Britain’s economy showed zero growth in the final three months of 2022 – enough for it to avoid entering a recession for now – but faces tough prospects in 2023 as households continue to wrestle with double-digit inflation. Monthly gross domestic product data for December – a…
BERLIN (Reuters) -Adidas flagged that it expects a high single-digit decline in sales this year, sending its shares more than 10% lower in premarket trade early on Friday. The sporting goods maker, which last October put its business partnership with rapper and fashion designer Kanye West under review, said late on Thursday that not selling…
By Kevin Buckland TOKYO (Reuters) – Asia-Pacific stocks retreated on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the economy. U.S. short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed President…
By Summer Zhen HONG KONG (Reuters) – Global investors are reducing their holdings of Chinese government bonds, a steady source of secure returns during the pandemic years, as they prepare for some monetary tightening in China and eye juicier stock markets in the reopened economy. China’s bond market was the outlier in 2022 as global…
By Laura Matthews (Reuters) – Concerns that last year’s wild swings in stocks and bonds will resurface in 2023 are boosting the appeal of investments less dependent on upside in either asset class, such as managed futures and private markets. Soaring interest rates sparked a rare lockstep tumble in equity and fixed income last year,…
SINGAPORE (Reuters) – First Abu Dhabi Bank (FAB), the United Arab Emirates’ biggest lender, said on Friday that it was not evaluating an offer for Britain’s Standard Chartered. News of the potential offer first came on Jan. 5, when FAB said it had considered a bid for London-listed Standard Chartered but was no longer doing…
By Kevin Buckland TOKYO (Reuters) – Asia-Pacific stocks fell on Friday, slumping toward a second weekly loss as investors fretted about the potential for further Federal Reserve tightening and the effect on the U.S. economy. U.S. short-term Treasury yields held near a one-month high, helping the dollar tick up against major peers, after Richmond Fed…
BEIJING (Reuters) – China’s January factory gate prices fell more than economists expected, suggesting that flashes of domestic demand that had stoked consumer prices after the zero-COVID policy ended are not yet strong enough to rekindle upstream sectors. The producer price index (PPI) was down 0.8% on a year earlier, extending the 0.7% drop the…
