A look at the day ahead in U.S. and global markets from Mike Dolan The Fed chair has a tricky message to communicate. Jerome Powell’s testimony to Congress later on Wednesday will flesh out how the Federal Reserve chief rationalises last week’s pause in its 15-month rate hike campaign – even though the central bank…
TOKYO (Reuters) -Japanese automaker Mazda Motor and the energy unit of Panasonic Holdings will start talks to set up a battery supply partnership for electric vehicles (EVs), the companies said on Wednesday. Such an effort on lithium-ion batteries is likely to carry Mazda a step closer to ramping up production of EVs, in a 1.5-trillion-yen…
By Lewis Jackson SYDNEY (Reuters) -The chair of an Australian senate committee looking into PricewaterhouseCoopers’ leak of a confidential government tax plan has called for an international investigation into the matter. Committee chair Senator Richard Colbeck presented a 33-page report on the leak to parliament on Wednesday and said information released to date showed the…
By Selena Li HONG KONG (Reuters) – JPMorgan Chase & Co has in a new round of downsizing cut around 20 investment banking jobs in Asia, a source with direct knowledge of the matter said, joining global peers in trimming headcount as dealmaking slows. JPMorgan on Tuesday notified the impacted bankers, the majority of whom…
By Gabriel Araujo SAO PAULO (Reuters) – Brazilian planemaker Embraer is returning to China with a deal to convert passenger jets into freight aircraft with a local partner in the northwestern city of Lanzhou, the company said on Wednesday. Anticipation of new business in China has been high since President Luiz Inacio Lula da Silva’s…
TOKYO (Reuters) – Japan saw a slight decline in visitors in May from the previous month, when a rush of tourists came to see the nation’s famous cherry blossoms without COVID-19 restrictions, official data showed on Wednesday. The number of foreign visitors for business and leisure came in just below 1.9 million last month from…
(Reuters) – Australian Perpetual on Wednesday confirmed an extended tech outage over an IT security incident, affecting some of its funds, though the fund manager reaffirmed that all its client investments and its own systems were unaffected and secure. “Perpetual’s listed products, institutional mandates, Pendal, Perpetual Corporate Trust, Perpetual Wrap clients, and all of our…
By Leika Kihara KAGOSHIMA, Japan (Reuters) -Bank of Japan board member Seiji Adachi said the chance of tweaking the bank’s yield curve control policy at next month’s rate review was small given diminishing market distortions and a lack of price trend data. He also said the central bank does not use monetary policy as a…
BEIJING (Reuters) – Chinese regulators in financial hub Shanghai summoned three firms including Starbucks and Shake Shack earlier this week for collecting excessive personal information, the city’s cyberspace regulator said on Wednesday. The regulators urged these firms to comprehensively rectify, protect personal information and safeguard the legitimate rights and interests of consumers, Shanghai’s cyberspace regulator…
LONDON (Reuters) – Automakers are rushing to lock in graphite supply from outside dominant producer China as mined graphite demand for electric vehicle (EV) batteries outpaces other uses. Below are details of some Western companies producing, or planning to produce graphite, and their deals with auto makers and battery producers. NEXTSOURCE MATERIALS INC Launched its…
