By John Revill and Tomasz Janowski ZURICH (Reuters) – A rare Swiss parliamentary investigation due to start this week aims to establish what went wrong before the dramatic fall of Credit Suisse, once Switzerland’s second biggest bank. The fifth such probe in the country’s modern history was set up after parliament, in a largely symbolic…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) – Japanese consumers may finally be shedding their decades-old frugal mindset, spending more on items that retailers were once too afraid to raise prices on and paving the way for the central bank to finally unwind its massive monetary stimulus. The world’s third-largest economy is seeing early…
By Nick Carey LONDON (Reuters) – China’s looming gallium export controls leave automakers with a dilemma over whether they can continue to rely on a metal which had been seen as a game changer for electric vehicles. Gallium is currently used in a wide variety of applications, from LEDs to smaller mobile phone adaptors. Little…
MADRID (Reuters) -Spain’s Socialist Prime Minister Pedro Sanchez and Alberto Nunez Feijoo, leader of the conservative People’s Party (PP), held a fractious live television debate on Monday, ahead of a national election on July 23. The pair tore into each other on a range of topics from the economy, housing, and pensions, to the environment,…
A look at the day ahead in European and global markets from Tom Westbrook A day of calm after last week’s clear-out in the bond market and investors are back to trading near-term rate expectations. Traders in Asia nudged both yields and the dollar a whisker lower on Tuesday, with an eye on Wednesday’s U.S….
By Clare Jim HONG KONG (Reuters) -Shares of Chinese property developers rose on Tuesday after regulators extended some policies in a rescue package introduced in November to shore up liquidity in the embattled sector. Analysts said while the extended policy could ease the short-term financial pressure on property developers and ensure their home project completions,…
By Suban Abdulla LONDON (Reuters) – Unusually hot weather boosted sales of sun screen and barbecue food in Britain last month, a British Retail Consortium survey showed on Tuesday, but consumers spent less on big-ticket items as high food prices continued to squeeze their budgets. The BRC said retail spending increased by 4.9% in annual…
By David Lawder WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen went to Beijing with no expectations that meetings with China’s new top economic officials would immediately ease tensions between the world’s two largest economies. There was no breakthrough. And it’s far from clear whether the 10 hours of meetings, covering issues ranging from U.S….
WASHINGTON (Reuters) – U.S. Treasury Secretary Janet Yellen said she believes the United States and China want to stabilize their economic ties with “candor” and “respect.” Yellen told American Public Media’s Marketplace in an interview taped shortly before her departure from Beijing on Sunday that she believed her trip, during which both sides discussed “significant…
By Anant Chandak BENGALURU (Reuters) – The Bank of Korea (BOK) will keep its key policy rate unchanged at 3.50% on Thursday and for the rest of the year as inflation continued to ease, a Reuters poll of economists predicted, but rate cut forecasts were pushed back by a quarter to early 2024. While inflation…
