By Sam Nussey and Miho Uranaka TOKYO (Reuters) -SoftBank is considering a U.S. listing for its PayPay payments business, three sources familiar with the matter said, in what could mark another American listing for Masayoshi Son’s sprawling tech conglomerate along with chip designer Arm. New York is seen as a more attractive destination than Tokyo…
By Stella Qiu SYDNEY (Reuters) -Australia’s top central banker said on Wednesday he is confident higher interest rates are working to cool inflation but it is possible they will have to rise further, suggesting a decision on whether to resume hiking in August may be a close one. Reserve Bank of Australia Governor Philip Lowe…
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 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…
