By Summer Zhen HONG KONG (Reuters) – As Japan’s stock market roars to multi-decade highs, large investors with long memories say they are staying out, wary of sagging momentum and the prospect the central bank will unwind its massive monetary stimulus. Riding a wave of buybacks and strong corporate earnings, and pumped up by a…
WELLINGTON (Reuters) – Six Pacific countries are at a high risk of debt distress in part due to government spending to respond to the COVID-19 crisis, the World Bank said in a report on Thursday. The report, titled Raising Pasifika, said fiscal consolidation was needed in Kiribati, Republic of the Marshall Islands, Federated States of…
By Matt Tracy (Reuters) -Many U.S. regional lenders may have to consider selling off commercial real estate (CRE) loans at a steep discount after breaching key regulatory thresholds for exposure to the troubled sector, according to new data and market sources. Regional banks, the largest lenders to the beleaguered U.S. CRE and construction markets, have…
(Reuters) -Amazon Web Services (AWS), the cloud computing division of Amazon.com Inc, said on Thursday it plans to invest 1.06 trillion rupees ($13 billion) in India by 2030, doubling down on its past investments to cater to an ever-growing demand. The latest investment will be used to build its cloud infrastructure in India and it…
By Kevin Buckland TOKYO (Reuters) – Asia-Pacific share indexes rallied on Thursday, following Wall Street’s lead, and the dollar held just below a two-month high versus the yen amid signs the United States might be close to a deal to raise the debt ceiling and avert a disastrous default. On Wednesday, President Joe Biden and…
SYDNEY (Reuters) – Australia employment unexpectedly dipped in April, following two months of outsized gains, while the jobless rate also ticked up, in a sign that the red-hot labour market might be cooling. Figures from the Australian Bureau of Statistics showed net employment fell 4,300 in April from March, when they rebounded by a revised…
By Stephanie Kelly (Reuters) – Oil prices edged lower on Thursday, easing on concerns over plentiful supply after surging nearly 3% during the previous session. Brent crude futures dipped 24 cents to $76.72 a barrel. U.S. West Texas Intermediate crude dropped 21 cents to $72.62. Both benchmarks rose nearly 3% on Wednesday on optimism over…
BOGOTA (Reuters) – Mexican used-car platform Kavak has opened a vehicle reconditioning plant in Colombia, which it hopes will help capture at least 5% of the country’s used car market, country manager Luis Eduardo Lopez said on Wednesday. The 16,900-square-meter (20,200 square yard) plant has a capacity to process 2,500 cars per month and saw…
By Susan Heavey, Doina Chiacu, Andrea Shalal WASHINGTON (Reuters) -President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government’s $31.4 trillion debt ceiling and avoid an economically catastrophic default. After a monthslong standoff, the Democratic president and the speaker of…
By Lisa Baertlein CHICAGO (Reuters) – U.S. freight railroads agree with most of federal lawmakers’ efforts to make the industry safer following the fiery Norfolk Southern train derailment in February, CSX Corp CEO Joe Hinrichs said on Wednesday. A U.S. Senate panel last week approved rail safety legislation that tightens rules on trains carrying explosive…
