By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s central bank held the cash rate steady at 5.5% on Wednesday, hitting pause as expected and flagging rates would be on hold for some time, with most economists still expecting rate cuts to come in 2024. With the country in a technical recession, the RBNZ said the…
By Rocky Swift TOKYO (Reuters) – The Japanese operator of apparel retailer Uniqlo is expected by analysts to post a 25% jump in profit to a third-quarter record on Thursday, when the focus will be on whether its sales recovery in China is on track. Fast Retailing’s operating profit in the three months through May…
By Manoj Kumar and Jatindra Dash and Sumit Khanna BHUBANESWAR, India (Reuters) – The world’s major accounting firms are stepping up investments in new Indian facilities away from bigger cities as global demand for cheaper back office operations grows and smaller towns move up the economic value chain. For decades, large multinational corporations have rushed…
By Renju Jose SYDNEY (Reuters) – Australia Treasurer Jim Chalmers said on Wednesday the cabinet would meet soon to decide the next governor of the country’s central bank, after local media reported that a government decision could be reached as early as this week. Markets are still in the dark whether Chalmers will extend Reserve…
By Leika Kihara TOKYO (Reuters) – Japan’s wholesale inflation slowed for a sixth straight month in June due to sliding fuel and commodity prices, data showed on Wednesday, a sign the cost-push pressure that drove up consumer prices is steadily easing. The data underscores the central bank’s view that consumer inflation will slow in coming…
By Nupur Anand (Reuters) – JPMorgan Chase plans to lay off 63 employees in Jersey City, New Jersey, according to a Worker Adjustment and Retraining Notification (WARN) issued on Tuesday. The job cuts will take place in September, according to the notice. The total workforce of JPMorgan, the largest U.S. lender, stood at 296,877 at…
(Reuters) – Money market funds are set for a reprieve on “swing pricing” when Wall Street’s top regulator votes on Wednesday to help control systemic risk in the money market and large liquidity fund sectors, Bloomberg News reported on Tuesday. Swing pricing involves adjusting a fund’s value in line with trading activity so that redeeming…
By Stephen Nellis SAN FRANCISCO (Reuters) – International Business Machines (IBM) is considering the use of artificial intelligence chips that it designed in-house to lower the costs of operating a cloud computing service it made widely available this week, an executive said Tuesday. In an interview with Reuters at a semiconductor conference in San Francisco,…
By Chiara Elisei LONDON (Reuters) – Companies around the globe took on a record $456 billion of net new debt in 2022/23, although higher interest rates should reduce appetite for new borrowing ahead, Janus Henderson said in a report published on Wednesday. The net new debt taken on in 2022/23 pushed outstanding net debt up…
By Caroline Valetkevitch NEW YORK (Reuters) – U.S. stocks rose on Tuesday, helped by optimism ahead of key inflation reports and as JPMorgan and other financial shares gained before earnings later this week. Investors are looking for further clues on whether price pressures are abating and if the Federal Reserve is nearing the end of…
