By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) – Japan will not detail a time frame for balancing the primary budget in its mid-year economic policy for the second consecutive year, showed a draft seen by Reuters, underscoring Prime Minister Fumio Kishida’s focus on bolstering the economy. The plan comes amid speculation that Kishida could…
BERLIN (Reuters) – German engineering companies’ order books fell significantly in April, reversing the “small ray of hope” seen in the prior month’s figures, the VDMA engineering association said on Monday. April orders were 20% lower compared with the same month last year, with domestic orders down 15% and foreign orders down 23%, according to…
By Shristi Achar A and Johann M Cherian (Reuters) – Even as higher costs of borrowing continue to choke dealmaking, fund managers and bankers believe smaller UK-listed firms remain attractive to private equity players flush with unspent funds of nearly a trillion dollars. Central banks have been battling high prices by hiking borrowing costs for…
By Mrinmay Dey and Scott Murdoch (Reuters) -UBS Group AG is looking to retain more than 100 Credit Suisse Group AG investment bankers across Asia as part of a plan to shore up talent in markets where its rival has a stronger presence, a source with direct knowledge of the matter said. Switzerland’s biggest bank…
By Trevor Hunnicutt WASHINGTON (Reuters) -President Joe Biden on Saturday signed a bill that suspends the U.S. government’s $31.4 trillion debt ceiling, averting what would have been a first-ever default with just two days to spare. The House of Representatives and the Senate passed the legislation this week after Biden and House of Representatives Speaker…
BEIJING (Reuters) – China’s services activity picked up in May, a private-sector survey showed on Monday, as a rise in new orders shored up a consumption-led economic recovery in the second quarter. The Caixin/S&P Global services purchasing managers’ index (PMI) rose to 57.1 in May from 56.4 in April. The 50-point mark separates expansion from…
TOKYO (Reuters) – Japan’s Nikkei share average closed at its highest in 33 years on Monday as gains on Wall Street lifted risk appetite, while investors kept betting on domestic equities on expectations the Bank of Japan would retain its ultra-loose policy. The Nikkei index jumped 2.2% to end at 32,217.43, its highest close since…
By Joe Cash BEIJING (Reuters) – China’s imports are expected to have contracted in May, despite a low base last year as a lockdown in Shanghai brought the country’s biggest port to a standstill, while exports likely fell for the first time in three months, a Reuters poll showed. Inbound shipments to the world’s second-largest…
(Reuters) – Diageo Plc, the world’s biggest spirits company, on Monday said CEO-designate Debra Crew will assume the top role on an interim basis immediately as Ivan Menezes undergoes medical treatment. Long-time boss Menezes, who was set to retire at the end of this month, is in hospital receiving treatment for conditions including a stomach…
SHANGHAI/SINGAPORE (Reuters) – Chinese quant hedge fund managers are rushing to explore ChatGPT-style tools, embracing the emerging AI technology that has sparked a global frenzy since the release of the widely popular Microsoft-backed OpenAI chatbot. Quants’ focus on advanced artificial intelligence to aid decision-making comes amid a tough investment environment, as China’s post-COVID recovery wanes…
