Norway wealth fund to continue 'constructive dialogue' with Tesla after AGM
OSLO (Reuters) - Norway's $1.7 trillion wealth fund, a top shareholder in Tesla, will continue "a constructive dialogue" with the automaker after its annual general meeting endorsed CEO Elon Musk's $56 billion pay package. Tesla shareholders approv...
Jun 14, 2024
Evergrande liquidation law firm probing PwC, others for potential claims, sources say
By Xie Yu HONG KONG (Reuters) - Lawyers appointed by the liquidators of China Evergrande Group are investigating some of the property developer's service providers including its former auditor PricewaterhouseCoopers, to potentially recoup losses fo...
Jun 14, 2024
Investors bought U.S. growth stocks, dumped value this week
LONDON (Reuters) - Investors dumped U.S. value stocks and bought growth stocks in the week to Wednesday, according to BofA Global Research, a period marked by cooler than expected inflation data that sent bond yields lower. There were $1.8 billion ...
Jun 14, 2024
Germany trying to prevent or soften EU tariffs on Chinese EVs, Bloomberg News says
(Reuters) - Germany wants to prevent the European Union's new tariffs on Chinese electric vehicles from coming into force or at least soften them, Bloomberg News reported on Friday. Chancellor Olaf Scholz's government has previously warned that the...
Jun 14, 2024
BOJ Governor Ueda's comments at news conference
(Reuters) - The Bank of Japan kept ultra-low interest rates on Friday but decided to start trimming its huge bond purchases in a slow but steady retreat from its massive monetary stimulus. While it will continue to buy government bonds at the curre...
Jun 14, 2024
China set to hold key rate as margin pressure, weaker yuan hamper policy easing
SHANGHAI/SINGAPORE (Reuters) - China's central bank is widely expected to leave a key policy rate unchanged when rolling over maturing medium-term loans next Monday, a Reuters survey showed. Worsening interest margins and a weakening Chinese yuan c...
Jun 14, 2024
US manufacturing group calls for stronger protection against Chinese imports
By David Lawder WASHINGTON (Reuters) - A policy group led by the United Steelworkers union and domestic manufacturers is calling for the U.S. to enact stronger trade barriers to Chinese imports after President Joe Biden imposed steep tariffs on Chi...
Jun 14, 2024
India's May wholesale inflation rises 2.61% on year
NEW DELHI (Reuters) -India's wholesale price-based inflation rose 2.61% in May mainly driven by food items, government data showed on Friday. The May figures were higher than the 2.5% rise expected by economists polled by Reuters and up from a 1.26% ye...
Jun 14, 2024
Analysis-Falling bond yields leave China's central bank facing tough call
By Li Gu, Samuel Shen and Kevin Yao SHANGHAI/BEIJING (Reuters) - China's central bank faces a looming test of its resolve to curb the financial stability risks it sees in a rallying bond market as it runs counter to its view of the economy by depic...
Jun 14, 2024
China Evergrande's ex-CEO sells Hong Kong home at almost half of purchase price
HONG KONG (Reuters) - China Evergrande's former CEO, who Chinese regulators recently said was "uncontactable", has sold his home in Hong Kong at a loss of HK$74 million ($9.48 million) from the purchase price, according to a property agent. Xia Hai...
Jun 14, 2024
Japan could be energy-independent by 2060 thanks to renewables, Rystad Energy CEO says
By Katya Golubkova TOKYO (Reuters) - Japan, a major coal and liquefied natural gas (LNG) buyer, could be energy-independent by 2060 thanks to expansion of solar and wind power together with storage batteries, said Jarand Rystad, chief executive of ...
Jun 14, 2024
Bank of England set to bury Sunak's pre-election rate cut hopes
By William Schomberg LONDON (Reuters) - Any lingering hopes Prime Minister Rishi Sunak might still have for a pre-election interest rate cut will probably be dashed next week, when the Bank of England looks set to signal that lower borrowing costs ...
Jun 14, 2024
Japan core inflation set to accelerate, keeping BOJ on track for more rate hikes
By Tetsushi Kajimoto TOKYO (Reuters) - Japan's nationwide core consumer inflation likely accelerated to 2.6% year-on-year in May from 2.2% in the previous month, a Reuters poll of 18 economists showed on Friday, keeping the central bank on track to...
Jun 14, 2024
Carlyle, KfW join forces in effort to buy Thyssenkrupp warship division, sources say
By Christoph Steitz, Emma-Victoria Farr and Tom Käckenhoff FRANKFURT/DUESSELDORF (Reuters) - Private equity firm Carlyle and German development bank KfW are in talks to jointly buy most of Thyssenkrupp's submarine unit, three people familiar with t...
Jun 14, 2024
Thailand sees at least $22 billion investment pledges his year
BANGKOK (Reuters) - Thailand expects at least 800 billion baht ($21.78 billion) worth of investment applications this year, the government said on Friday. In the first quarter of 2024, the value of total investment applications rose 31% year-on-yea...
Jun 14, 2024
Morning Bid: BOJ's dovish surprise, AI and the Pope
A look at the day ahead in European and global markets from Ankur Banerjee The Bank of Japan provided a dovish surprise to the market after the central bank said it would trim bond buying in the future but will come up with a specific plan regarding th...
Jun 14, 2024
Vietnam plans raising special consumption tax on alcoholic drinks to 100% by 2030
HANOI (Reuters) - Vietnam's Finance Ministry has proposed to hike a special consumption tax on alcoholic drinks to 100% by 2030, the ministry said, a move that may further hurt the country's beverage industry. Under the draft proposal which is pend...
Jun 14, 2024
Investors react to BOJ's decision to keep policy unchanged
(Reuters) - The Bank of Japan kept interest rates unchanged on Friday but said it would trim bond buying in the future to allow long-term interest rates to move more. At the end of its two-day policy meeting, the central bank said it would continue...
Jun 14, 2024
BOJ keeps rates steady, decides to lay out bond taper plan next month
TOKYO (Reuters) - The Bank of Japan kept interest rates unchanged on Friday but said it would trim bond buying in the future to allow long-term interest rates to move more. At its two-day policy meeting, the central bank said it would continue to b...
Jun 14, 2024
Indonesia cbank says policy aims to ensure inflation controlled, rupiah stable
JAKARTA (Reuters) - Indonesia's central bank governor said monetary policy will be consistent to ensure inflation remains under control and the rupiah currency is stable amid global turbulence. Governor Perry Warjiyo was speaking during a coordinat...
Jun 14, 2024
Asian stocks slide, yen wobbles ahead of BOJ verdict
By Ankur Banerjee SINGAPORE (Reuters) - Asian stocks fell on Friday as investors pondered the outlook for U.S. rates after the Federal Reserve tempered its rate-cut views even as inflation came in softer than expected, while the yen was shaky befor...
Jun 14, 2024
Yen on guard ahead of BOJ; euro stutters with weekly loss in sight
By Rae Wee SINGAPORE (Reuters) - The yen was on the defensive on Friday ahead of a policy decision from the Bank of Japan that could see it further reduce its massive monetary stimulus, while elsewhere the euro, mired in political turmoil, was head...
Jun 14, 2024
Oil prices on track for weekly gain on solid demand outlook
By Katya Golubkova TOKYO (Reuters) - Oil prices fell on Friday but were on track for their first weekly gain in four weeks as markets assessed the impact of higher-for-longer U.S. interest rates versus solid outlooks for crude and fuel demand this ...
Jun 14, 2024
RBA to hold rates through September, deliver first cut in Q4: Reuters poll
By Anant Chandak and Milounee Purohit BENGALURU (Reuters) - The Reserve Bank of Australia will hold its key policy rate for a fifth straight meeting on Tuesday over persistent price pressures, according to all economists polled by Reuters, a majori...
Jun 14, 2024
Tesco board faces heat over CEO's 10 million pound pay package
By James Davey LONDON (Reuters) - The board of Tesco, Britain's biggest supermarket group, will be asked to justify chief executive Ken Murphy's near 10 million pounds ($13 million) pay package when it faces shareholders at its annual meeting on Fr...
Jun 13, 2024