(Reuters) -Embattled property developer China Evergrande Group said its listed electric vehicle arm will book a $3.6 billion gain from the transfer of two debt-laden companies to another group unit as part of the auto firm’s restructuring. With more than $300 billion in total liabilities including offshore debt, Evergrande has been at the centre of…
By Leika Kihara TOKYO (Reuters) -Bank of Japan (BOJ) Governor Kazuo Ueda on Tuesday stressed the need to keep monetary policy ultra-loose for now, but signalled the chance of raising interest rates if inflation and wage growth overshot expectations. “In light of current economic, price and financial developments, it’s appropriate to maintain monetary easing, now…
TOKYO (Reuters) – Japan raised its official assessment of imports for first time in nine months, the government’s monthly economic report showed on Tuesday, as the yen’s double-digit depreciation from a year earlier puffed up the value of imported goods. While the report maintained the overview of the economy that it was on a moderate…
By Choonsik Yoo and Jihoon Lee SEOUL (Reuters) -South Korea’s heavily trade-reliant economy barely averted a recession posting slim growth in the first quarter, but the outlook remained clouded by weak exports due to a cooling global economy, even with China’s reopening. South Korea’s gross domestic product (GDP) in the first quarter expanded by 0.3%…
By Joey Roulette WASHINGTON (Reuters) -The U.S. Space Force said on Monday that Elon Musk’s SpaceX was granted approval to lease a second rocket launch complex at a military base in California, setting the space company up for its fifth launch site in the United States. Under the lease, SpaceX will launch its workhorse Falcon…
By Tom Polansek and Leah Douglas CHICAGO (Reuters) -JBS USA is ending contracts with a U.S. company fined for hiring kids to clean meat plants, the unit of Brazilian meatpacker JBS SA said on Monday, adding it is bringing the work in-house at some facilities. The changes show how a U.S. government investigation into food-safety…
By Elizabeth Howcroft LONDON (Reuters) -Top cryptocurrency bitcoin could reach $100,000 by the end of 2024, Standard Chartered said on Monday, saying that the so-called “crypto winter” is over. Bitcoin could gain from factors including recent turmoil in the banking sector, a stabilisation of risk assets as the U.S. Federal Reserve ends its interest rate-hiking…
(This April 19 story has been corrected to fix the name of Banxa U.S. CEO to Richard Mico, not Ricardo Mico, in paragraph 24) By Elizabeth Howcroft and Hannah Lang LONDON (Reuters) – Crypto firms have been left scrambling to find banking partners after the collapse of three crypto-friendly lenders in the U.S. last month,…
MANILA (Reuters) – Philippine President Ferdinand Marcos Jr on Monday said he will press U.S. counterpart Joe Biden to make clear the extent of Washington’s commitment to protect his country under a 1951 security pact, citing growing regional tension. The past two Philippine administrations have urged former colonial power United States to be specific on…
ROME (Reuters) – Italy’s Treasury and Germany’s Lufthansa have agreed to extend exclusive talks over the sale of ITA Airways until May 12 from the previous deadline of April 24, a source close to the matter told Reuters on Monday. State-controlled ITA officially replaced the money-losing Alitalia airline in 2021. The source, speaking on condition…
