FRANKFURT (Reuters) -Euro zone consumers lowered their inflation expectations, a fresh European Central Bank survey showed on Tuesday, a relief for policymakers after an unexpected surge a month earlier, even if underlying price growth is still likely to be stubborn. The ECB has raised interest rates by a combined 375 basis points over the past…
TAIPEI (Reuters) – Taiwan chipmaker TSMC is feeling “good” about talks towards setting up its first European factory in Germany, where it is in subsidy discussions with the government, the company’s chairman said on Tuesday. The world’s largest contract chipmaker, TSMC has been in talks with the German state of Saxony since 2021 about building…
By Georgina Lee HONG KONG (Reuters) – Hong Kong ‘s central bank plans to test the use of its digital currency under a pilot project in its HK$1.8 trillion ($229 billion) mortgage market, with an aim to slash a month-long loan approval process by half, according to the pilot participants. The test comes amid fierce…
LONDON (Reuters) – Investors have pulled around $780 million from crypto exchange Binance in the last 24 hours, data firm Nansen said on Tuesday, a day after the world’s biggest crypto exchange was sued by the U.S. Securities and Exchange Commission. Binance’s U.S. affiliate exchange registered net outflows of $13 million in the same period,…
LONDON (Reuters) – Weak growth across Britain’s construction sector picked up modestly in May, despite an increasingly severe downturn in house-building activity prompted by rising interest rates, a survey showed on Tuesday. The S&P Global/CIPS UK Construction Purchasing Managers’ Index (PMI) rose to 51.6 from 51.1 in April. A Reuters poll of economists had pointed…
By Tetsushi Kajimoto TOKYO (Reuters) – Japanese Prime Minister Fumio Kishida’s government on Tuesday unveiled an action plan on his “new capitalism” programme of driving growth and wealth distribution through wage hikes, signalling his commitment to shift the economy into a higher gear. Kishida’s economic strategy will focus on investment in human resources, science and…
LONDON (Reuters) – UK investors backed money market funds in May at the fastest rate since the country’s failed ‘mini-budget’ last year, opting for caution after a volatile period in global banking, funds network Calastone said on Tuesday. Calastone’s fund flow index showed net inflows to money market funds of 419 million pounds ($521 million)…
(Corrects advisory to show item adds details to June 5 report) (Reuters) -Evergrande Property Services Group Ltd said on Monday it would have sufficient working capital to meet its financial obligations up to mid-2024 through various measures aimed at boosting liquidity. These include talks with embattled parent China Evergrande Group on repaying 13.4 billion yuan…
(Reuters) -Australia’s Qantas Airways Ltd’s outgoing chief executive, Alan Joyce, on Tuesday sold A$16.9 million ($11.3 million) of shares in the airline, ahead of his retirement in November. Joyce, who served as the airline’s CEO for 15 long years, has offloaded 2.5 million shares for A$6.75 a piece, leaving him with a holding of just…
(Reuters) – Top Australian lender Westpac Banking Corp said on Tuesday that it will raise its home loan variable interest rates by 25 basis points (bps), in line with the Reserve Bank of Australia’s (RBA) rate hike. In a surprise move, the RBA raised interest rates by a quarter-point to an 11-year high, and warned…
