By Tetsushi Kajimoto TOKYO (Reuters) – Japan will not rule out any options in responding to currency market moves that become excessive, Finance Minister Shunichi Suzuki said on Thursday, firing off a fresh warning and adding that one-sided, unstable yen moves were undesirable. The comments come amid market speculation that authorities could intervene again to…
PARIS (Reuters) – Renault shares jumped more than 7% on Thursday after it raised its 2023 financial outlook thanks to the success of new models, in particular the Austral SUV and a Dacia Jogger hybrid. After several years of restructuring and strategic repositioning to restore margins, the French carmaker said it is now aiming for…
STOCKHOLM (Reuters) – The Swedish central bank’s decision to asses the possibility of hedging a portion of foreign exchange reserve should not be seen as a veiled threat of currency intervention, Governor Erik Thedeen said on Thursday. “It’s not a covert currency intervention,” Thedeen told a news conference and added it was normal risk management….
By Brenda Goh SHANGHAI (Reuters) -Geopolitics and the national security concerns of some countries are threatening the globalisation of the world’s chip industry and its future growth, the chairman and acting CEO of memory chipmaker Yangtze Memory Technologies (YMTC) said on Thursday. Chen Nanxiang said in a speech at the opening ceremony of the Semicon…
(Reuters) – Financial stability risk in the European Union remains at a “severe” level and the downturn in the housing market could become even more broad-based, the bloc’s financial risk watchdog said on Thursday. High inflation, a drop in household’s disposable income, rapid rate hikes by the European Central Bank and notable bank failures overseas…
(Reuters) -Sri Lanka announced a restructuring plan for its massive domestic debt on Thursday to meet targets set by the International Monetary Fund (IMF) and aim to turn around its economy, which has been hammered by a financial crisis. The island nation is asking foreign investors in its international sovereign bonds to take a 30%…
By Jesús Aguado and David Latona MADRID (Reuters) -The U.S. Federal Reserve is still monitoring the situation in the banking industry “very carefully” to address potential vulnerabilities, such as in the commercial real estate sector, Fed Chair Jerome Powell said on Thursday. “We are very reluctant to say” if the sector’s turmoil is over, Powell…
BERLIN (Reuters) – Inflation rose in five economically important German states in the month of June, preliminary data showed on Thursday, suggesting a bumpy road ahead for German inflation. The inflation rate rose to 6.2% in North-Rhine Westphalia and Bavaria, while rising to 6.7% in Brandenburg, 6.1% in Hesse and 6.9% in Baden-Wuerttemberg. In May,…
(Reuters) – The Russian rouble weakened past 87 against the dollar to a 15-month low on Thursday, hampered by domestic political risk concerns after an aborted mutiny over the weekend, with market uncertainty fuelling demand for safe-haven assets. By 0823 GMT, the rouble was 0.7% weaker against the dollar at 86.96 <RUBUTSTN=MCX> having hit 87.47,…
(Reuters) – Germany’s BMW will build its X3 model in South Africa from 2024, investing 4.2 billion rand ($225.09 million) to electrify its plant in Rosslyn, the company said in a statement on Thursday. “From 2024, we will produce the BMW X3 in South Africa as a plug-in hybrid and export it all over the…
