By Valentina Za, Giuseppe Fonte and Gavin Jones ROME/MILAN (Reuters) – Italy’s hopes of transforming its economy with billions of euros of European Union pandemic recovery funds are unravelling fast, businesses on the ground say, with inefficiencies at all levels raising the risk of a greater boost to debt than to growth. In mid-2020 Rome…
By Aditya Kalra and Yuvraj Malik NEW DELHI (Reuters) -Walt Disney is exploring options to sell or find a joint venture partner for its India digital and TV business, a source with direct knowledge said on Wednesday. The talks are in a “very, very nascent” stage and no potential buyer or partner has been approached…
By Byron Kaye SYDNEY (Reuters) -Two top Australian banks said the number of home loan customers missing repayments remained below pre-COVID levels as a spike in living costs slows their discretionary spending, a sign that concerns of widespread financial distress may not materialise. After 400 basis points of interest rate hikes in 14 months, the…
By Leika Kihara TOKYO (Reuters) – Japanese households’ inflation expectations rose in the three months to June, a central bank survey showed on Wednesday, adding to growing signs that conditions for phasing out massive monetary stimulus may be falling in place. The survey will be among factors the Bank of Japan (BOJ) will scrutinise in…
SYDNEY (Reuters) – The Reserve Bank of Australia (RBA) has announced changes to how it formulates and announces interest rate decisions, following an independent review into the bank’s operation. Here are the major steps proposed, while some recommendations from the review are still to be decided on. EIGHT MEETINGS Starting from February 2024, the RBA’s…
By David French and Pablo Mayo Cerqueiro NEW YORK/LONDON (Reuters) -One of the world’s top insurers is mulling offloading its property reinsurance business in a bid to cut its exposure to natural disasters like hurricanes, according to three people familiar with the matter. French insurer AXA SA has been discussing strategic options for its XL…
A look at the day ahead in European and global markets from Ankur Banerjee While market participants are almost certain that the Federal Reserve will hike in July, the always important U.S. inflation report due later on Wednesday will likely help dictate how many more hikes are left in the tank. Economists polled by Reuters…
By Heekyong Yang and Ju-min Park SUWON, South Korea (Reuters) – The trial of a South Korean chip executive accused of stealing sensitive information developed by Samsung Electronics began on Wednesday in a case that underscores South Korea’s crackdown on industrial espionage. Prosecutors have alleged that Choi Jinseog, a former Samsung Elec executive and a…
By Deborah Mary Sophia (Reuters) – Back-to-school spending is expected to fall for the first time in nine years as shoppers across all income levels pull back on non-essential purchases and prioritize necessities amid sticky inflation, according to a Deloitte report on Wednesday. Consumers are expected to spend 10% less this year, with average spend…
By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank held the cash rate steady at 5.5% on Wednesday, hitting pause as expected and flagging rates would be on hold for some time, with most economists still expecting rate cuts to come in 2024. With the country in a technical recession, the RBNZ said the…
