By Clare Jim HONG KONG (Reuters) -For most young adults, moving out of home is a rite of passage but in Hong Kong – notorious for its chronic lack of housing – it’s usually an unaffordable dream. Silver Ho, a 26-year-old hair stylist assistant who was tired of arguing with his parents, counts himself as…
(Reuters) -Trade tensions between Washington and Beijing are riding high while U.S. inflation data will inform the Federal Reserve’s next move and rate setters in New Zealand and Canada meet. Here’s a look at the week ahead in markets from Lewis Krauskopf and Nupur Anand in New York, Li Gu in Shanghai, Kevin Buckland in…
SYDNEY (Reuters) – Australia’s central bank is set to lose a top official to the private sector amid a broader shake-up that could soon see its chief replaced. Westpac announced on Monday that it has appointed Reserve Bank of Australia (RBA) assistant governor Luci Ellis as Westpac’s chief economist, starting on Oct. 9, and she…
(Corrects to clarify Li Qiang is head of the State Council, not state planner) BEIJING (Reuters) – China’s state planner said on Monday it held a meeting with private firms including Baidu and LONGi Green Energy Technology. The next step will be to continue to improve the communication mechanism with private enterprises and address the…
By Krishn Kaushik and David Brunnstrom NEW DELHI/WASHINGTON (Reuters) – India’s multi-billion-dollar purchases of U.S. arms are less about shifting its reliance on Russian defence equipment and moving towards the West – it’s more about developing its own domestic weapons industry, security officials and analysts say. India is the world’s biggest arms importer but almost…
(Reuters) – A look at the day ahead in European and global markets from Wayne Cole China’s inflation data for June surprised on the downside, with consumer prices slipping 0.2% on the month to leave annual CPI dead flat. Producer prices fell 5.4% on the year, the sharpest decline since late 2015. On the face…
(Reuters) – China’s Ant Group has announced a surprise share buyback that values the fintech giant at $78.5 billion, well below the $315 billion touted in an abandoned IPO in 2020, in a move that may let some investors exit. The announcement came after China’s financial regulator on Friday fined the Alibaba Group affiliate $984…
By Joe Cash BEIJING (Reuters) – China on Monday called on the U.S. to take “practical action” in response to its “major concerns” about sanctions on Chinese firms, after U.S. Treasury Secretary Janet Yellen wrapped up more than 10 hours of meetings with senior officials in Beijing. Yellen came to Beijing seeking to ease tensions…
By Yoruk Bahceli and Dhara Ranasinghe (Reuters) – Government bond markets from Europe to the United States and Australia are in a tailspin as the prospect of higher interest rates sparks a rout in longer-dated bonds, hurting investors seeking higher returns after a lacklustre first half. German and British two-year borrowing costs touched their highest…
BEIJING (Reuters) – China should shift the focus of its stimulus from investment to consumption and further loosen urban residency curbs to boost migrant workers’ spending power, a central bank policy adviser said. “The target of our stimulus should shift from investment to consumption, which can more directly correspond to our actual economic bottlenecks and…
