HELSINKI (Reuters) -The Nordic region’s biggest lender Nordea posted a larger than expected gain in first-quarter operating profits on Thursday, on the back of rising interest rates and despite weaker Nordic currencies. The Finnish banking group reported an operating profit of 1.48 billion euros ($1.64 billion) in the quarter, up from 1.1 billion a year…
By Takaya Yamaguchi and Tetsushi Kajimoto TOKYO (Reuters) – Financial authorities must be mindful of the risk of excessive regulation aimed at preventing digital bank runs caused by online rumours and speculation, said the former commissioner of Japan’s Financial Services Agency (FSA). The failure of Silicon Valley Bank and Signature Bank in the United States…
SYDNEY (Reuters) – Australia proposed on Thursday overhauling its immigration system to speed up getting highly skilled workers into the country and smoothening the path to permanent residency. The federal Labor government said the current system used to select skilled migrants – the points test – will be modified to identify people with the correct…
TOKYO (Reuters) – Japan’s Toyota Motor Corp set a global annual output record in the business year ended in March, just edging past its target of 9.1 million vehicles as factory disruption from global chip supply woes and pandemic lockdowns eased. But the world’s biggest automaker by sales warned it continued to see impacts from…
A look at the day ahead in European and global markets from Kevin Buckland Europe wakes up to more weakness in equities after stock markets across Asia took cues from Wednesday’s slump on Wall Street. Fears that the US could slip into recession weighed broadly. But perhaps reassuringly, financials fared relatively better in markets including…
BEIJING (Reuters) -China’s industrial firms’ profits shrank at a slightly slower pace in January-March but the decline remained in the double-digits as the economy struggled to fully recover despite the country’s exit from its zero-COVID policy. Profits at these firms fell 21.4% in the first three months from a year earlier, cumulative data released by…
BEIJING (Reuters) -China’s job market remains tough, and it is becoming especially hard for college graduates to find jobs, vice Human Resources minister Yu Jiadong said on Thursday. China’s cabinet on Wednesday unveiled plans to boost employment, including supporting financial institutions to offer loans to small firms and issuing subsidies to firms that hire college…
By Naomi Rovnick, Amanda Cooper and Harry Robertson LONDON (Reuters) – Investors are positioning for a regime change in global markets as the Bank of Japan edges closer to ditching the policies that depressed the yen for decades, thereby luring Japanese money back home. The BOJ, by flooding its financial system with cheap cash and…
By Lucy Craymer WELLINGTON (Reuters) – The New Zealand government is committed to reducing spending even though severe weather events earlier this year caused asset damage of roughly NZ$9 billion ($5.51 billion) to NZ$14.5 billion, Prime Minister Chris Hipkins said on Thursday. Flash floods hit Auckland, the country’s largest city, in January and Cyclone Gabrielle…
By Tom Polansek CHICAGO (Reuters) – Tyson Foods Inc will eliminate about 10% of corporate jobs and 15% of senior leadership roles, Chief Executive Donnie King told employees on Wednesday. The layoffs are the latest cost-cutting move for the biggest U.S. meat company by sales as it grapples with declining profit and struggles to improve…
