By Leika Kihara and Jihoon Lee INCHEON, South Korea (Reuters) -Asian finance leaders will on Tuesday look for ways to tighten safeguards to address emergency funding needs during pandemics and natural disasters, as global recession fears and volatile financial markets cloud the economic outlook. The impact of U.S. interest rate increases on the region’s capital…
LONDON (Reuters) -Mike Ashley’s Frasers Group said on Wednesday it has increased its maximum exposure to Hugo Boss to $937 million and reiterated its support for the German fashion brand’s strategy and management team. Frasers, which was formerly called Sports Direct and is on a drive to move upmarket, said it now holds 4.9% of…
By Noel Randewich (Reuters) – Who said corporate earnings were down? Fresh data shows earnings per share for S&P 500 companies were about flat in the first quarter, a major improvement over dour forecasts at the start of the reporting season. With first-quarter earnings season all but wrapped up, S&P 500 companies are on track…
ZURICH (Reuters) – The United States and Switzerland can move towards free trade between their countries with sectoral deals and they are working on facilitating business in the pharmaceutical sector, the U.S. ambassador to Switzerland told the Tages Anzeiger newspaper. Scott Miller said that in the last round of trade negotiations between the two countries,…
MELBOURNE (Reuters) -Rio Tinto on Tuesday said that China’s reopening from COVID-19 restrictions is set to raise near-term risks of labour and supply-chain shortages, while it also flagged a strong start to iron ore shipments for 2023. The Anglo-Australian miner said consumers remain cautious of China’s property market, which has been supportive to the economy,…
SHANGHAI (Reuters) – China’s electric vehicle (EV) maker Xpeng unveiled on Sunday a new platform it developed in-house for making vehicles, which it said will reduce the development and manufacturing costs for its company’s upcoming models. The Smart Electric Platform Architecture (SEPA) 2.0 will help Xpeng to reduce costs of powertrain systems including batteries by…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The Reserve Bank of Australia takes center stage on Tuesday, with the consensus view of economist marginally tipping toward expecting a 25 basis point increase in the benchmark cash to a 12-year high of 4.35%….
By Ann Saphir (Reuters) – Signaling U.S. President Joe Biden’s picks for the Federal Reserve may face a tough confirmation process in the closely divided Senate, Republican Senator Pat Toomey told the president he doesn’t think his choices fairly represent the nation for which they will help set monetary policy. “I write to express my…
By Suban Abdulla LONDON (Reuters) – British factory output and new orders contracted at the start of the second quarter of 2023, but manufacturers were more optimistic and input costs rose at the weakest rate since May 2020, an industry survey showed on Tuesday. The final S&P Global/CIPS UK manufacturing Purchasing Managers’ Index (PMI) fell…
(Reuters) – Cosmetics maker Estee Lauder Cos Inc is in talks to acquire luxury brand Tom Ford in what could be a $3 billion deal, the Wall Street Journal reported on Monday, citing people familiar with the matter. Estee Lauder and Tom Ford did not immediately respond to Reuters’ requests for comment. (Reporting by Deborah…
