PARIS (Reuters) – Companies in most countries have enough profit to be able to absorb an increase in wages needed for staff to cope with high inflation, the Organisation for Economic Cooperation and Development said on Tuesday. Although labour markets are tight, employers have not raised wages in pace with inflation in 31 out of…
By David Shepardson WASHINGTON (Reuters) -U.S. auto safety regulators confirmed a fifth Takata air bag inflator crash death in 2022 and reiterated urgent calls for owners to get repairs. Chrysler-parent Stellantis and the National Highway Traffic Safety Administration said they had confirmed a third Takata air bag inflator death. Over the last decade, more than…
By Tetsushi Kajimoto and Leika Kihara TOKYO (Reuters) -Japan’s average minimum wage is set to rise at a record pace this year, the government said on Tuesday, a positive development for Prime Minister Fumio Kishida’s efforts to cushion households from global commodity inflation. The health ministry formally approved a recommendation by its sub-committee that the…
By Leika Kihara TOKYO (Reuters) – The crisis in Ukraine could hurt Japan’s economy by driving up the price households and companies pay for fuel and commodities, a central bank policymaker said on Thursday, signaling the need to maintain massive stimulus to support a fragile recovery. Japan’s consumer inflation could briefly approach the central bank’s…
By Manya Saini and Saeed Azhar (Reuters) -Customers Bancorp said on Friday it acquired a $631 million venture banking loan portfolio from U.S. regulator Federal Deposit Insurance Corporation (FDIC) at about 85% of the book value. The portfolio belonged to failed lender Signature Bank, which was put under FDIC receivership in March, a source familiar…
By Arshad Mohammed WASHINGTON (Reuters) -The United States on Tuesday moved to let Iraq pay Iran for electricity via non-Iraqi banks, a U.S. official said, a step Washington hopes may keep Tehran from forcing unpopular power cuts during the sweltering Iraqi summer. Secretary of State Antony Blinken signed a 120-day national security waiver allowing Iraq…
By Dawn Chmielewski (Reuters) – Universal Music Group NV, the world’s largest record label, said quarterly revenue from music streaming surpassed 1 billion euros ($1.06 billion) for the first time in the fourth quarter, a milestone that underscores its continued importance to the music business. Even as Universal Music’s chairman and CEO Lucian Grainge lauded…
(Reuters) -The California Department of Financial Protection and Innovation (DFPI) said on Monday it had closed First Republic Bank and agreed a deal to sell its assets to JPMorgan Chase & Co and National Association, in what is the third major U.S. bank to fail in two months. JPMorgan bank was one of several interested…
Federal Reserve Governor Michelle Bowman on Friday repeated her call for the U.S. central bank to hire an outside party to analyze the collapse of Silicon Valley Bank, and against using that failure as a “pretext” for making broad changes to bank regulation. “We should consider whether there are necessary – and targeted – adjustments…
(Reuters) – U.S. stock index futures were steady on Friday ahead of data expected to show the pace of job growth slowed in July, but stayed strong enough to keep the Federal Reserve on its policy tightening path. The Labor Department’s employment report, due at 08:30 a.m. ET, is likely to show nonfarm payrolls rose…
