By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s top financial diplomat on Friday suggested the central bank may tweak its approach to monetary stimulus at its next policy meeting, due to “signs of changes” in corporate behaviour on wage growth and price rises. In rare remarks on monetary policy, Masato Kanda, vice finance minister for international…
By Nathan Gomes and Joseph White (Reuters) -U.S. auto retailer AutoNation on Friday posted better-than-expected second-quarter revenue, as demand for new vehicles and aftermarket services offset the impact of a decline in used-vehicle sales. Demand for used vehicles, which accelerated during the pandemic, has taken a hit after automakers started to ramp up production as…
By Natalia A. Ramos Miranda SANTIAGO (Reuters) – Chilean President Gabriel Boric is struggling to replicate the success of other Latin American leftist leaders in reforming tax codes after vowing as a candidate in 2021 to undertake a restructuring of his country’s free-market system. Propelled into office by a popular revolt over the shortcomings of…
By Yimou Lee TAIPEI (Reuters) -Taiwan is investigating a possible leak of official documents including diplomatic cables and classified reports on the island’s sensitive bid to join a global trade pact, according to two officials familiar with the probe. One official said initial findings showed some parts of the documents, posted on online message board…
By Nevzat Devranoglu and Zeynep Berkem ANKARA (Reuters) – Turkey’s latest monetary and fiscal moves are steps in the right direction, though regaining credibility in economic policy remains a challenge, a European Bank for Reconstruction and Development (EBRD) executive said on Friday. Turkey’s central bank on Thursday hiked its benchmark interest rate by 250 basis…
By Hyunjoo Jin SEOUL (Reuters) – Tesla CEO Elon Musk is ready to cut electric car prices again to drive sales if the economy swoons, and part of the reason is a bonanza from Biden administration tax credits. “It does make sense to sacrifice margins in favor of making more vehicles,” Musk said on Wednesday,…
LONDON (Reuters) – Investors’ rush to the safety of cash, a dominant theme in capital flow data this year, may be peaking, Bank of America global research said on Friday. There was a net $10 billion dollars of outflows from cash in the two weeks to Wednesday, BofA said, referencing EPFR data, describing this as…
(Reuters) – Regions Financial’s second-quarter profit met Wall Street estimates on Friday, as higher interest income offset the drag from bigger provisions. Lenders have earned more in interest income, thanks to a sharp rise in interest rates by the U.S. Federal Reserve. But that has also raised the risks of loan defaults, prompting banks to…
(Reuters) – Russia’s central bank raised its forecast for economic growth in 2023 even as it hiked rates by 100 basis points on Friday, now envisaging gross domestic product (GDP) growth of up to 2.5% this year. The bank raised its key interest rate by a steeper-than-expected 100 basis points to 8.5%, raising the cost…
(Reuters) – Morgan Stanley raised U.S. economic growth forecast for the year on a strong industrial sector and more public investment in infrastructure, and expects a “comfortable” soft-landing for the economy. Economists at Morgan Stanley now expect U.S. real gross domestic product (GDP) to grow 1.3% on average in 2023, from an earlier forecast of…
