By Valentina Za and Sara Rossi MILAN (Reuters) -Italy will launch a new bond aimed at retail investors next week, targeting cash held in low-yielding bank accounts as it finds ways to compensate for dwindling European Central Bank debt purchases. Market sources say the sale of new BTP Valore (“BTP Value”) bonds with a four-year…
(Reuters) – Federal Reserve Bank of Cleveland President Loretta Mester sees no “compelling” reason to wait to implement another interest rate hike, Financial Times reported on Wednesday. “I don’t really see a compelling reason to pause,” Mester told FT in an interview. “I would see more of a compelling case for bringing the rates up and…
A look at the day ahead in European and global markets from Sonali Desai With the U.S. debt ceiling bill clearing an important procedural hurdle en route to a vote in the House of Representatives on Wednesday, markets are back in data-watching mode for now. Unfortunately, there’s little respite on that front given disappointing economic…
BANGKOK (Reuters) – Thailand’s manufacturing production index (MPI) in April contracted by a more-than-expected 8.14% from a year earlier, as exports slowed and production costs rose, the industry ministry said on Wednesday. The figure compared with a forecast in a Reuters poll for a fall of 2.15% in April, and came after March’s revised 3.86%…
TAIPEI (Reuters) – Apple Inc supplier Foxconn said on Wednesday artificial intelligence applications would strongly drive demand for its server business this year but reiterated 2023 overall would be a flat one for the company on global economic woes. Foxconn Chairman Liu Young-way told the company’s annual shareholders meeting the firm remained cautious about this…
By Liangping Gao and Ryan Woo BEIJING (Reuters) – China’s factory activity shrank faster than expected in May on weakening demand, heaping pressure on policymakers to shore up a patchy economic recovery and knocking Asian financial markets lower. The official manufacturing purchasing managers’ index (PMI) fell to a five-month low of 48.8, the National Bureau…
By Stella Qiu SYDNEY (Reuters) -Australia’s central bank will do whatever it takes to bring inflation under control, its governor said on Wednesday, warning households to brace for the pain ahead while risks of higher inflation persisted. Data released on Wednesday showed consumer prices rising by much more than expected in April, prompting markets to…
By Lewis Jackson SYDNEY (Reuters) -The Reserve Bank of Australia will not sign any new contracts with PricewaterhouseCoopers (PwC) Australia until a scandal over the firm’s misuse of confidential government tax plans is sorted out, the central bank’s governor said on Wednesday. The “big four” firm is on the defense after a former Australian tax…
By Leika Kihara TOKYO (Reuters) – Global central banks may already be facing a new economic environment where inflation and interest rates will no longer revert to the low levels of the past, Bank of Japan (BOJ) Governor Kazuo Ueda said on Wednesday. While supply factors have been blamed for the current increase in global…
TOKYO (Reuters) -Japan’s factory output unexpectedly fell in April, government data showed on Wednesday, as production machinery orders slowed amid weakening global demand, casting doubts about recovery in the world’s third-largest economy. Japan has so far been spared the impact of deteriorating global economic conditions thanks in part to a recovery in services sector activity…
