By Jihoon Lee SEOUL (Reuters) -South Korea will unveil a range of measures in the coming months to open its domestic financial markets, including plans to extend trading hours on the foreign exchange market, the country’s finance minister said on Thursday. As part of such efforts, the government will announce next month plans to extend …
South Korea seeks to improve foreign access to its markets Read More »
BEIJING (Reuters) – China’s annual consumer inflation rate accelerated in December, driven by rising food prices even as domestic demand wavered amid restrained economic activity. Economists expect inflation to continue to pick up in the first quarter of 2023. The consumer price index (CPI) in December was 1.8% higher than a year earlier, rising faster …
China consumer inflation accelerates in Dec; PPI falls with soft demand Read More »
JERUSALEM (Reuters) -Israel will cancel or cut back recent hikes in property taxes, water and energy costs, Prime Minister Benjamin Netanyahu said on Wednesday, unveiling preliminary measures to ease inflation. Finance Minister Bezalel Smotrich, speaking alongside Netanyahu at a televised news conference, said the government would maintain fiscal responsibility while pursuing the plan. “Our economy …
Israel to trim taxes, water and energy costs to fight inflation Read More »
By Lisa Baertlein LOS ANGELES (Reuters) – Logistics startup Flexport on Wednesday said it would cut about 20% of its global workforce as its new chief executive refocuses the business amid a sharp downturn in shipping activity. “Lower volumes, combined with improved efficiencies as a result of new organizational and operational structures, means we are …
Logistics startup Flexport cutting 20% of staff in restructuring Read More »
By Michael S. Derby (Reuters) – Boston Federal Reserve bank leader Susan Collins said she is inclined to raise interest rates by a quarter percentage point at the central bank’s upcoming policy meeting, the New York Times reported on Wednesday. “I think 25 or 50 would be reasonable; I’d lean at this stage to 25, …
Fed’s Collins leans toward quarter-point rate increase -NYT Read More »
(Reuters) – Spain’s seasonally and calendar-adjusted industrial output fell 1.1% year-on-year in November, official data from the country’s National Statistics Institute (INE) showed on Wednesday. Industrial output in November was 3.2% lower than in October and 4.6% lower than in November last year, INE said. (Reporting by Marta Serafinko, editing by Inti Landauro)
BERLIN (Reuters) – Low take up of a government-backed ‘Kurzarbeit’ shortened hours facility points to a “very mild” recession in Germany this winter, the Ifo economic institute said on Wednesday. In December, the number of workers on shortened hours eased to 186,000 from a seasonally adjusted 188,000 in November, Ifo said, citing estimates it based …
Low use of shortened work hours points to mild German recession – Ifo Read More »
By Naomi Rovnick (Reuters) – A shakeout in financial markets triggered by central banks’ sudden move to abandon ultra-low interest rates has created a casualty money managers will not miss: TINA. The acronym for There Is No Alternative to owning equities described how loose monetary policy since 2009 put stocks on steroids because yields on …
By Wayne Cole SYDNEY (Reuters) -Australian shoppers spent big in November as Black Friday sales and online specials spurred demand for clothes, electronics and furniture, a sign consumption was proving resilient to rising interest rates and high inflation. Data from the Australian Bureau of Statistics (ABS) on Wednesday showed retail sales jumped 1.4% in November …
Australia retail sales jump in November, inflation resumes climb Read More »
A look at the day ahead in European and global markets from Anshuman Daga Asian equity markets are flirting with six-month highs, powered by risk-on sentiment and hopes of a rebound in Chinese growth but inflation worries are looming ahead. European company results kick-off in earnest on Wednesday, with retailer Sainsbury and JD Sports reporting. …
