By Tetsushi Kajimoto TOKYO (Reuters) -Japan raised its estimates for long-term interest rates over the coming few years in government’s twice-yearly fiscal projections issued on Tuesday, following the central bank’s decision last month to allow 10-year bond yields to move more widely. Higher rates will test the government’s ability to service the industrial world’s heaviest…
(Reuters) -U.S. industrial conglomerate 3M Co on Tuesday reported a fall in quarterly profit, as its move to stop production of “forever chemicals” saddled the company with charges while softening consumer demand further hit its bottom-line. Last month, the Post-it maker set a 2025 deadline to stop producing PFAS (perfluoralkyl and polyfluoroalkyl substances), or the…
By Amanda Cooper LONDON (Reuters) – The dollar hovered near a nine-month low against the euro and surrendered recent gains against the yen on Tuesday, as traders weighed the risks of a U.S. recession against the outlook for Federal Reserve monetary policy. Euro zone data on Tuesday reinforced the view that the economy is surviving…
By Devjyot Ghoshal and Uditha Jayasinghe NEW DELH/COLOMBO (Reuters) -The Export-Import Bank of China has offered Sri Lanka a two-year moratorium on its debt and said it will support the country’s efforts to secure a $2.9 billion loan from the International Monetary Fund, according to a letter reviewed by Reuters. India wrote to the IMF…
(Reuters) – European stocks edged higher on Tuesday, boosted by a fresh run of gains for technology stocks, while investors awaited economic data that is expected to show a slight improvement in euro zone business activity. The pan-European STOXX 600 index rose 0.1% after a strong finish on Wall Street, lifted by tech stocks that…
BENGALURU (Reuters) -Maruti Suzuki India Ltd reported better-than-expected quarterly profit on Tuesday, as the country’s biggest carmaker benefitted from strong demand for its passenger cars, sending shares up as much as 2.4%. Profit for Maruti, which has over 40% market share in the country’s passenger vehicles segment, came in at 23.51 billion rupees ($288.53 million)…
By Sriram Mani MUMBAI (Reuters) – Blackstone is in talks to sell around half of its stake in India’s largest real estate investment trust Embassy Office Parks to private equity firm Bain Capital, two sources said, in a deal worth up to $480 million at current prices. A deal would mark U.S.-based Bain’s first REIT…
A look at the day ahead in European and global markets from Wayne Cole. It’s been another quiet session in Asia with many markets still on holiday. Japan was open and the BOJ’s dogged defence of Yield Curve Control seems to be working with 10-year yields holding around 0.39% and away from the 0.5% ceiling….
By Chris Taylor NEW YORK (Reuters) – The holidays are over, but hopefully you took away some lasting memories. Some of them were priceless and others came at a price. For the latter, here is the bad news: it is January and the bill has come due. Some call it the “holiday debt hangover,” and…
TOKYO (Reuters) – The head of Suntory Holdings Ltd, Takeshi Niinami, said on Tuesday he expected the next governor of the Bank of Japan (BOJ) to show a clear policy roadmap, including criteria for ending its practice of controlling both long- and short-term interest rates. Niinami, an influential leader who is expected to become the…
