By Takaya Yamaguchi TOKYO (Reuters) – Japan plans to call for moving ahead with a new “green” gross domestic product (GDP) indicator that will reflect the country’s progress in reducing greenhouse gas emissions, a draft of its annual economic policy outline seen by Reuters showed. The government will make a mention of moving forward with…
TOKYO (Reuters) – An index measuring prices Japanese firms charge each other for services rose in April at the fastest annual pace in more than two years, data showed on Thursday, a sign that inflationary pressure is building broadly across the economy. The services producer price index rose 1.7% in April from a year earlier,…
By Vivek Mishra BENGALURU (Reuters) – Rampant rises in Australian house prices will grind almost to a halt this year, and an 8% decline is expected in 2023 as a cost-of-living crisis worsens and mortgage rates rise, a Reuters poll of property market analysts found. Cheap loans based on near-zero interest rates have nearly doubled…
By Norihiko Shirouzu BEIJING (Reuters) – If global automakers think they can extend their dominance in China into the electric era, they may be in for a shock. Kings of the combustion age such as General Motors and Volkswagen are falling behind local players in the booming electric vehicle (EV) market in China, a country…
By Stefanno Sulaiman and Orathai Sriring (Reuters) – From export bans to price controls, governments in Asia are taking a much more targeted approach than their Western counterparts in curbing global inflationary pressure, a strategy that appears to be working at least for now. While inflation remains a serious economic challenge in Asia, the measures…
By Stephen Culp NEW YORK (Reuters) – Wall Street closed higher Wednesday, boosted after minutes from the Federal Reserve’s latest monetary policy meeting showed policymakers unanimously felt the U.S. economy was very strong as they grappled with reining in inflation without triggering a recession. The minutes from the Federal Open Market Committee’s May meeting, which…
(Reuters) – Creating an official digital version of the U.S. dollar could help ensure financial system stability as crypo-assets and digital currencies developed by other countries become increasingly popular, Federal Reserve Vice Chair Lael Brainard said on Wednesday. “The rapid ongoing evolution of the digital financial system at the national and international levels should lead…
BOSTON (Reuters) – Index fund BlackRock and other major McDonald’s shareholders are backing the company in a boardroom vote that puts the fast-food chain on course to defeat investor Carl Icahn who sought to replace two directors and raise awareness about animal welfare, sources said on Wednesday. BlackRock, whose 4.6% stake ranks it as McDonald’s…
(Reuters) – Elon Musk has committed to provide an additional $6.25 billion in equity financing to fund a portion of the $44-billion deal to buy Twitter Inc, a regulatory filing showed on Wednesday. Twitter shares jumped 10% in extended trading. (Reporting by Eva Mathews in Bengaluru)
WASHINGTON (Reuters) -World Bank President David Malpass on Wednesday suggested that Russia’s war in Ukraine and its impact on food and energy prices, as well as the availability of fertilizer, could trigger a global recession. Malpass told an event hosted by the U.S. Chamber of Commerce that Germany’s economy, the world’s fourth largest, has already…
