(Reuters) – The Bank of Japan shocked markets on Tuesday with a surprise tweak to its bond yield controls that allows long-term interest rates to rise further, a move aimed at easing some of the costs of prolonged monetary stimulus. But the central bank kept its yield target unchanged and said it will sharply increase …
BOJ Governor Kuroda’s comments at news conference Read More »
By Stephanie Kelly NEW YORK (Reuters) -Oil prices rose on Monday, as optimism around China relaxing its COVID-19 restrictions outweighed fears of a global recession that would weigh on energy demand. China, the world’s top crude oil importer, is experiencing its first of three expected waves of COVID-19 cases after Beijing relaxed mobility restrictions but …
Oil rises on hopes for China’s economy; recession fears limit gains Read More »
TAIPEI (Reuters) – Taiwan’s government has opened a probe into Chinese-owned social media platform TikTok on suspicion of illegally operating a subsidiary on the island, though the company’s owner denied the accusation. TikTok, which is not widely used in Taiwan, has come under pressure mostly in the United States on concerns about China getting access …
Taiwan investigates TikTok for suspected illegal operations Read More »
By Deborah Mary Sophia (Reuters) – Nike Inc is expected to report a big bump in second-quarter sales, as it offered deep discounts on its shoes and sportswear to keep the interest of recession-wary shoppers in its brand and clear excess inventory. Analysts are projecting a near 11% jump in quarterly sales as a bounce …
Nike sales may soar as discounts draw shoppers; margin squeeze looms Read More »
(Reuters) – Pandemic-related disruptions to global supply chains and the effects of Russia’s war in Ukraine have driven up prices of energy, commodities and necessities. Here’s how governments are trying to help hard-hit consumers and companies: AMERICAS: * Brazil’s Senate approved raising the government spending cap, allowing the president-elect’s incoming administration to fund an extension …
Factbox-How governments are trying to ease impact of inflation Read More »
MOSCOW (Reuters) – South Korea’s Hyundai Motor Co, formerly one of Russia’s biggest car makers, has begun laying off workers at its St Petersburg factory, which has stood idle since March, largely due to the effects of Russia’s military intervention in Ukraine. “Owing to the continued suspension of production, Hyundai Motor is taking steps to …
Hyundai lays off staff after idling Russian plant since March Read More »
LONDON (Reuters) – Tesco, Britain’s biggest retailer, is facing legal action from a group of migrant workers from Myanmar, alleging dire working conditions at a Thai factory which made clothes for the group’s F&F range. Law firm Leigh Day said 130 migrant workers are bringing a legal claim against Tesco, Ek-Chai Distribution System Company Limited, …
Tesco facing legal claim over worker conditions at Thai clothing factory Read More »
PHNOM PENH (Reuters) – Cambodia’s economy is forecast to grow 5% this year and 5.4% in 2023, constrained by slowing demand in its main export markets in Europe and the United States and by economic conditions in China, the International Monetary Fund (IMF) said. Following a regular IMF consultation, it said growth would be underpinned …
Cambodia’s economy to grow 5% this year, 5.4% in 2023 – IMF Read More »
By Miho Uranaka and Rocky Swift TOKYO (Reuters) – Suntory Beverage & Food Ltd’s incoming CEO Makiko Ono, one of only a handful of women to lead a big Japanese company, wants to see more opportunities for women in management and more business for her company in overseas markets, where she defined her career. When …
Suntory Beverage’s first female CEO wants more women managers, global business Read More »
TASHKENT (Reuters) – Uzbekistan has for the first time sent a train loaded with copper to Europe via a new route bypassing Russia, state-owned Uzbekistan Railways said on Monday, as part of the Central Asian nation’s plan to maintain trade ties with the European Union. The train will deliver 46 rail cars and 91 units …
Uzbekistan starts shipping copper to Europe bypassing Russia Read More »
