2023

TOKYO (Reuters) -Uniqlo parent Fast Retailing Co Ltd on Wednesday said it would raise wages by as much as 40%, focusing on its home market of Japan, where salaries have been under downward pressure for years. The move by the casual clothing giant may serve as a wake-up call for Japan Inc ahead of annual…

(Reuters) -Apple Inc is planning to start using its own custom displays in its mobile devices from 2024 onwards in an attempt to bring more components in-house, Bloomberg News reported on Tuesday, citing people with knowledge of the matter. The company intends to begin by swapping out the display in the highest-end Apple Watches by…

SYDNEY (Reuters) – Australian shoppers spent big in November as Black Friday sales and online specials spurred demand for clothes, electronics and furniture, a sign consumption was proving resilient to rising interest rates and high inflation. Data from the Australian Bureau of Statistics (ABS) on Wednesday showed retail sales jumped 1.4% in November from October…

By Svea Herbst-Bayliss NEW YORK (Reuters) – Some hedge funds that bet on macroeconomic trends boasted eye-popping double and even triple digit gains for 2022, investors said, while other prominent firms that were long on technology stocks got clobbered with deep losses in volatile markets. Rokos Capital, run by Chris Rokos and one of a…

By Saqib Iqbal Ahmed NEW YORK (Reuters) – Options traders are bracing for volatility in U.S. bank shares days ahead of an earnings season many believe will bring lower profits and reflect worries over an expected recession. Current market positioning signals a gloomy outlook: The one-month moving average of open puts on the Financial Select…

By Karen Freifeld NEW YORK (Reuters) – Allen Weisselberg, a longtime executive for Donald Trump and the star prosecution witness in the criminal trial of the former president’s real estate company, was sentenced on Tuesday to five months behind bars for helping engineer a wide-ranging tax fraud at the Trump Organization. Weisselberg, 75, was expected…

(Reuters) -FedEx Corp said on Tuesday it would further cut its Sunday package deliveries in March, as it looks to align operations with consumer demand. Many of FedEx’s 6,000 U.S. contractors had complained that there was not enough demand for Sunday deliveries to cover the cost of providing the service. The adjustment will trim the…

By Lindsay Dunsmuir and Howard Schneider STOCKHOLM (Reuters) -The Federal Reserve’s independence from political influence is central to its ability to battle inflation, but requires it stay out of issues like climate change that are beyond its congressionally established mandate, Fed Chair Jerome Powell said on Tuesday. “Restoring price stability when inflation is high can…