SYDNEY (Reuters) -Australia employment handily beat expectations for a second straight month in June, while the jobless rate stayed near 50-year lows in a sign the labour market remained drum-tight, adding to the risk of further interest rate hikes. Figures from the Australian Bureau of Statistics showed net employment rose by 32,600 in June from…
By David Brunnstrom WASHINGTON (Reuters) – China does not want a trade or tech war but will definitely respond if the United States imposes more curbs on its chip sector, China’s ambassador to Washington said on Wednesday. Ambassador Xie Feng told the Aspen Security Forum China did not shy away from competition, but the way…
SYDNEY (Reuters) – Australia’s biggest telecommunications company Telstra said on Thursday it planned to cut nearly 500 jobs due to changes from digitisation and automation, as well as its exit from some legacy products and services. The proposed reduction amounts to just over 1% of the company’s total workforce but come at a time when…
By Veronica Dudei Maia Khongwir BENGALURU (Reuters) – Bank Indonesia (BI) will keep its key interest rate unchanged at 5.75% next week and leave it there for the rest of the year as inflation is set to remain within the central bank’s 2-4% target range, a Reuters poll of economists found. Headline inflation in Southeast…
SHANGHAI/SINGAPORE (Reuters) -China left its lending benchmarks unchanged on Thursday, after the central bank stood pat on a key policy rate earlier this week even as signs of a faltering economic recovery called for more stimulus. China’s economy grew at a frail pace in the second quarter, raising investor hopes for more supportive measures to…
By Chris Helgren and Steve Scherer VANCOUVER (Reuters) – Dock workers on Canada’s Pacific coast said they have revoked a strike notice issued for Saturday, after Prime Minister Justin Trudeau directed a crisis meeting to pursue all options to ensure the stability of supply chains as he stressed the critical role of port operations. The…
SEOUL (Reuters) – South Korea’s financial market watchdog gathered local securities firms on Thursday to assess real estate-related risks and urged for thorough and preemptive preparation against them amid concerns the number of overdue loans could rise. The Financial Supervisory Service (FSS) called on the firms, which are akin to investment banks, to swiftly write…
(Reuters) – China’s Farizon, a maker of electric and hybrid trucks which is owned by automaker Geely, has raised $600 million in a Series-A funding round, the company said in a statement. The Hangzhou-based company, which produces and markets hybrid and pure electric commercial vehicles, said it plans to use the funds for further technology…
By Gleb Stolyarov and Alexander Marrow (Reuters) – The Western automakers that dominated Russia’s car market left following Moscow’s invasion of Ukraine, leaving a slumping production and sales in their wake, with domestic producers and Chinese firms picking up the pieces. Here is an overview of the fate of foreign carmakers’ assets in Russia: RENAULT…
(Reuters) – Australia’s Zip Co Ltd said on Thursday it faced a jump in bad debts at home grounds, its biggest market by revenue, during the March-June quarter due to poor domestic consumer credit and discrepancies with third-party payment processors. The country’s biggest standalone buy-now-pay-later (BNPL) provider said Australia’s June-quarter net bad debts, which are…
