By Andrea Shalal WASHINGTON (Reuters) – U.S. President Joe Biden on Friday said he would nominate former Treasury official Michael Barr to be the Federal Reserve’s top regulatory official, replacing Sarah Bloom Raskin who withdrew in March after failing to win the backing of moderate Democrats. Barr, now a professor at the University of Michigan…
By Leika Kihara and Takahiko Wada TOKYO (Reuters) -The Bank of Japan is likely to raise its inflation forecast for the current fiscal year to near 2% at this month’s policy meeting as global commodity inflation drives up energy and food costs, said three sources familiar with its thinking. While the upgrade will bring inflation…
By Josh Horwitz and Sarah Wu SHANGHAI/TAIPEI (Reuters) – Shipments of some Apple products, as well as Dell and Lenovo laptops are likely to face delays if China’s COVID-19 lockdowns persist, analysts said, as curbs force assemblers to shut down and closed-loop arrangements get harder to maintain. China’s race to stop the spread of COVID-19…
By Guy Faulconbridge LONDON (Reuters) -Russia may be in default after it tried to service its dollar bonds in roubles due to Western sanctions over the war in Ukraine, Moody’s said, Moscow’s first major default on foreign bonds since the years following the 1917 Bolshevik revolution. Russia made a payment due on April 4 on…
LONDON (Reuters) – Moody’s Investors Service said that Russia may be in default after it made payments on dollar bonds with roubles. “Russia reportedly made payments on two bonds maturing in 2022 and 2042 in rubles rather than US dollars which represents a change in payment terms relative to the original bond contracts and therefore…
SHANGHAI (Reuters) -Automakers in China may have to suspend production in May if suppliers in Shanghai and surrounding areas are not able to resume work, He Xiaopeng, the chief executive officer of Chinese electric-car maker Xpeng, said on Thursday. Growing lockdowns to stop the spread of COVID-19 in China are clogging highways and ports and…
TOKYO (Reuters) – Japan’s core consumer inflation likely accelerated in March from a year earlier but was still well short of the Bank of Japan’s price goal, a Reuters poll showed, bolstering the view that the BOJ will lag way behind other central banks in normalising policy. Separate data is expected to show Japan’s trade…
SHANGHAI (Reuters) -China’s central bank kept borrowing costs of its medium-term policy loan unchanged for the third straight month as expected on Friday, despite Beijing calling for more monetary stimulus to cushion an economic slowdown. The People’s Bank of China (PBOC) said it was keeping the rate on 150 billion yuan ($23.52 billion) worth of…
By Kevin Buckland TOKYO (Reuters) – The dollar rose to a two-decade peak against the yen and kept close to a two-year high to the euro on Friday, as more hawkish comments from Federal Reserve officials reinforced expectations for faster U.S. policy tightening. The greenback was 0.43% higher at 126.40 yen after earlier reaching 126.56…
KUALA LUMPUR (Reuters) – Italian confectionary giant Ferrero said it will stop sourcing palm oil from Sime Darby Plantation after the U.S. customs service found the Malaysian planter used forced labour. “Ferrero will comply with the U.S. Customs and Border Protection’s decision,” Ferrero, which uses palm oil its in Ferrero Rocher chocolates and Nutella spread,…
