ECON

BOJ maintains ultra-low rates, warns against sharp yen falls

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BOJ keeps interest rate targets unchanged Gov. Kuroda rules out near-term rate hike Kuroda says yen’s sharp fall undesirable, bad for economy BOJ ramps up efforts to defend 0.25% yield cap TOKYO, June 17 (Reuters) – The Bank of Japan maintained ultra-low interest rates on Friday and vowed to defend its cap on bond yields … Read more

China launches third aircraft carrier, named after province opposite Taiwan

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The Chinese flag is seen in this illustration taken May 30, 2022. REUTERS / Dado Ruvic / Illustration Register now for FREE unlimited access to Reuters.com Register BEIJING, June 17 (Reuters) – China launched its third aircraft carrier on Friday, the domestically designed and built Fujian, named after the province opposite self-ruled Taiwan, sending a … Read more

Emergency ECB meeting lifts Europe, Fed ready to go big

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News of emergency ECB meeting sends Italian markets soaring Market almost fully priced for Fed to hike 75 bps Euro rally knocks dollar off 20-yr peak, US yields off decade top China economic data slightly beat forecasts, still weak LONDON / SYDNEY, June 15 (Reuters) – European markets rallied on Wednesday on news the European … Read more

Asian stocks slide as Fed hike fears tip Wall St into bear market

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HONG KONG, June 14 (Reuters) – Asian shares slid sharply and the safe-haven dollar held near a two-decade peak on Tuesday after Wall Street hit a confirmed bear market milestone on fears aggressive US interest rate hikes would push the world’s largest economy into recession. MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) fell … Read more

Biden says federal government to fund New Mexico wildfire recovery

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SANTA FE, NM, June 11 (Reuters) – The US federal government will fund New Mexico’s full wildfire response, President Joe Biden said on Saturday speaking from Santa Fe amid anger from survivors over the blaze that was started by federal officials. “We have a responsibility to help the state recover,” Biden told elected officials and … Read more

Biden unveils migration plan, capping Americas summit roiled by division

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LOS ANGELES, June 10 (Reuters) – US President Joe Biden and fellow leaders from the Western Hemisphere on Friday rolled out a new set of measures to confront the regional migration crisis, seeking to salvage an Americas summit roiled by division. Biden’s aides had touted the migration declaration as a centerpiece of the US-hosted Summit … Read more

Japan edges closer to intervention in yen

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Japan says ‘concerned’ about sharp yen falls Top currency diplomat says ‘all options on table’ Tokyo ready to respond appropriately in accordance with G7 policy Yen fall puts pressure on BOJ ahead of next week’s meeting Analysts see low chance of intervention, BOJ policy tweak TOKYO, June 10 (Reuters) – Japan’s government and central bank … Read more

ECB signals rates lift-off, eyes bigger move in September

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Promises 25 bps July rate hike Says will hike again in Sept and bigger move possible Inflation rising, broadening Lagarde press conference at 1230 GMT FRANKFURT / AMSTERDAM, June 9 (Reuters) – The European Central Bank ended a long-running stimulus scheme on Thursday and said it would deliver next month its first interest rate hike … Read more

Biden unveils new Latin America economic plan at reboot summit dogged by dissent

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LOS ANGELES, June 8 (Reuters) – President Joe Biden announced on Wednesday a proposed new US economic partnership with Latin America aimed at countering China’s growing clout as he kicked off a regional summit marred by discord and snubs over the guest list. Hosting the Summit of the Americas in Los Angeles, Biden sought to … Read more

EXCLUSIVE Feeling ‘super bad’ about economy, Musk wants to cut 10% of Tesla jobs

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Tesla employed around 100,000 people at the end of 2021 Musk warned staff on Tuesday to return to office or leave US executives sounding increasingly gloomy about economy SAN FRANCISCO, June 2 (Reuters) – Tesla (TSLA.O) CEO Elon Musk has a “super bad feeling” about the economy and wants to cut about 10% of jobs … Read more

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