BERLIN (Reuters) -BMW forecast on Wednesday an 8% to 10% margin for its autos segment in 2023, up from last year’s 7% to 9% target, and said it planned to keep prices stable, after years of dealing with rising costs by passing them on to customers. The transition to battery-electric vehicles (BEVs) was moving faster…
By Tom Westbrook SINGAPORE (Reuters) – The dollar was attempting to steady in Asia on Wednesday, as investors dialled back bets on U.S. rate cuts and fear of a banking crisis ebbed – though a looming hike in Europe had the euro on a firm footing. The European Central Bank meets on Thursday and markets…
A look at the day ahead in European and global markets from Ankur Banerjee The relief rally in the market will be tested when British finance minister Jeremy Hunt presents the UK spring budget as he tries to speed up the world’s sixth-biggest economy, with business lobbies clamouring for sweeteners. Hunt, who was drafted in…
BEIJING (Reuters) – China’s property investment fell at a slower pace over the first two months of 2023, official data showed on Wednesday, showing signs of improvement buoyed by a slew of supportive policies though buyers and developers remain cautious. The property investment fell 5.7% year-on-year in January-February, after a 12.2% slump in December, according…
By Yuka Obayashi and Florence Tan TOKYO (Reuters) – Oil prices rebounded more than 1% on Wednesday, recovering from the previous day’s plunge, as a stronger OPEC outlook on China’s demand helped offset bearish global investor sentiment in the wake of the recent U.S. bank failures. Brent crude futures climbed 93 cents, or 1.2%, to…
SEOUL (Reuters) – Samsung Electronics Co Ltd on Wednesday said it will invest around 300 trillion won ($230 billion) by 2042 to develop what the government called the world’s largest chip-making base, in line with efforts to enhance South Korea’s chip industry. The amount makes up most of the 550 trillion won in private-sector investment…
SHANGHAI/HONG KONG (Reuters) – The collapse of Silicon Valley Bank (SVB) will not impact China’s financial system but offers an important lesson for the country’s banking industry, the official Securities Times said in an editorial on Wednesday. An SVB-style bank failure is unlikely to happen in China but the incident would have “important implications for…
By Pete Schroeder (Reuters) -The Federal Reserve is considering tougher rules and oversight for midsize banks similar in size to Silicon Valley Bank, which collapsed suddenly last week, according to a source familiar with the matter. The bank’s collapse set off fears across the financial system, drove an extraordinary government effort to reassure depositors and…
(Reuters) -U.S. Federal Reserve is reconsidering its regulations regarding midsize banks which could potentially mean expansion of existing restrictions that currently only affect larger Wall Street firms, the Wall Street Journal reported on Tuesday. The Fed is reviewing a set of more stringent regulations related to capital and liquidity requirements, the report said, adding that…
(Reuters) – Bruised U.S. bank stocks regained some ground on Tuesday, as a sell-off sparked by Silicon Valley Bank’s collapse gave way to bargain-hunting by investors hopeful that efforts to shore up confidence would avert a wider financial crisis. DEVELOPMENTS * Ratings agency Moody’s cut its outlook on the U.S. banking system to negative from…
