By Stella Qiu SYDNEY (Reuters) -Australian retail sales were flat in April as consumers, who face high living costs and rising interest rates, cut back spending on food and dining out, bolstering the case for a pause in rate hikes next month. Data from the Australian Bureau of Statistics (ABS) on Friday showed retail sales…
By Vivek Mishra and Shaloo Shrivastava BENGALURU (Reuters) – India’s economy will grow about 6% this fiscal year with a small increase in private investment, according to a Reuters poll of economists who said lower growth and high inflation were the biggest risks to the outlook. While that was expected to be faster than other…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japanese Finance Minister Shunichi Suzuki said on Friday after the yen fell to a six-month low against the dollar that currency rates should be set by markets based on economic fundamentals. “Currency rates should be determined by markets based on fundamentals,” Suzuki told a news conference after…
By Sinéad Carew and Stephen Nellis NEW YORK/SAN FRANCISCO (Reuters) – The Philadelphia semiconductor index hit its highest level in more than a year on Thursday and eyed its biggest one-day percentage gain in six months with artificial intelligence (AI) taking center stage after Nvidia Corp wowed investors with financial targets that blew past analyst…
By David Lawder and Liz Lee DETROIT/BEIJING (Reuters) -U.S. Commerce Secretary Gina Raimondo and Chinese Commerce Minister Wang Wentao traded barbs on trade, investment and export policies in talks on Thursday described by Raimondo’s office as “candid and substantive.” Their meeting in Washington was the first U.S.-China cabinet-level exchange in months, after a string of…
By Leika Kihara TOKYO (Reuters) -Bank of Japan Governor Kazuo Ueda said changing the central bank’s policy target to the five-year bond yield, from the current 10-year zone, would be among options if it were to modify its yield curve control (YCC) policy in the future. With falling raw material costs likely to slow inflation…
(Reuters) – A top ally of Russian President Vladimir Putin said the Ukraine war could last for decades, with long periods of fighting interspersed by truces, Russia’s RIA news agency reported on Thursday. It said former President Dmitry Medvedev, deputy chairman of Putin’s powerful security council, had spoken during a visit to Vietnam. Medvedev often…
(Reuters) – U.S. Commerce Secretary Gina Raimondo raised concerns about Chinese actions against U.S. firms operating in China with Chinese Minister of Commerce Wang Wentao during a meeting on Thursday in Washington, according to a U.S. readout. “The two had candid and substantive discussions on issues relating to the U.S.-China commercial relationship, including the overall…
TAIPEI (Reuters) -Software problems are delaying the delivery to Taiwan of 66 advanced new F-16V fighter jets from the United States but the island still expects the full order to arrive by 2026, Defence Minister Chiu Kuo-cheng said on Thursday. The United States in 2019 approved an $8 billion sale of Lockheed Martin Corp F-16…
By David Shepardson (Reuters) – Ford Motor Co CEO Jim Farley said on Thursday Chinese electric vehicle makers are its main rivals in the sector, but the company has hurdles competing on cost at a smaller scale. “I think we see the Chinese as the main competitor, not GM or Toyota,” Farley said at the…
