Japan’s benchmark Nikkei 225 index tumbles nearly 5% after its ruling party chose Ishiba as the next prime minister
TOKYO (AP) — Japan’s benchmark Nikkei 225 index tumbles nearly 5% after its ruling party chose Ishiba as the next prime minister.
TOKYO (AP) — Japan’s benchmark Nikkei 225 index tumbles nearly 5% after its ruling party chose Ishiba as the next prime minister.
Suntory Holdings CEO Takeshi Niinami plans to stick it out in China with the selling of alcohol despite economic challenges.
Saudi Arabia's plans to ramp up oil production could hit price levels critical for fueling Russia's invasion of Ukraine.
Three Iranian airlines and a top diplomat are among those targeted by the latest round of sanctions. The EU Commission chief stressed, however, that "more is needed".View on euronews
SHENZHEN, China (Reuters) -Chinese finance industry professional Zhang Jing made enough money from a recent stock market rally to consider hopping on the housing ladder but wants to hear more from the government before making a purchase. Home-buyers, investors and consumers are buzzing in anticipation of promised economic stimulus but by-and-large are hesitant to make the big spending decisions that would collectively turn around a slowing economy - a dynamic on full display at the expo in what was once China's biggest boomtown. On Saturday, Minister of Finance Lan Foan said the government planned to "significantly increase" debt to revive economic activity though he did not elaborate on size or timing, disappointing many who tuned in.
The European Union wants a level playing field with China on car tariffs and is negotiating with Beijing on mechanisms such as price commitments or investments in Europe as a solution, European Commission chief Ursula von der Leyen said on Monday. Speaking alongside German Chancellor Olaf Scholz in Berlin, she said negotiations with China would continue even if the EU's tariffs on Chinese electric vehicles entered into force.
Wall Street wants the Fed to keep cutting to a normalized rate level. It might not happen as quickly as they’d like.
Goldman Sachs upgraded its China growth forecast, citing recent stimulus efforts. But another large package is needed when it comes to reviving the world's second-largest economy.
Citing a recent uptick in inflation and data showing the U.S. economy and labor market are stronger than previously thought, Federal Reserve Governor Christopher Waller on Monday called for "more caution" on interest-rate cuts ahead. "Whatever happens in the near term, my baseline still calls for reducing the policy rate gradually over the next year," Waller said at a Shadow Open Market Committee conference at Stanford University's Hoover Institution, noting that there is "considerable" room for easing the Fed's restrictive policy rate.
Chancellor Rachel Reeves has made it clear that we should not be expecting any bank account-friendly handouts in the Budget at the end of the month.
Sir Keir Starmer says this month's Budget was "going to be tough" but would "focus on rebuilding our country".
Gold Rises by 1% on Weaker-Than-Expected US Data Gold (XAU/USD) rose by 1% on Friday as the US macroeconomic data revealed weaker-than-expected figures. The US Producer Price Index (PPI) for final demand remained flat in September, falling just below economists' expectations of a 0.1% rise, according to Reuters. This follows an unrevised 0.2% increase in August, signaling that inflation continues to ease, allowing the Federal Reserve (Fed) to pursue further interest rate cuts. The CME FedWatch T
The Office for National Statistics will unveil the latest monthly Consumer Price Index inflation reading on Wednesday.
China’s exports slowed sharply in September as global demand weakened, adding to worries over how to recharge growth in the world’s second-largest economy. China recorded a trade surplus of $81.7 billion in September, down from $91 billion in August. China’s leaders have been struggling to rev up the economy since the COVID-19 pandemic ended.
Data for three months to August adds to evidence that pay pressures are easing, making a case for further interest rate cuts.
Specific fiscal policy commitment from China will likely come only after the U.S. elections are over, Yeap Jun Rong, market strategist at IG, wrote in a commentary. The next U.S. president will determine trade relations with the U.
Investing.com-- Chinese stocks are likely to experience increased volatility in the coming days as investors digest the government’s recent round of stimulus, UBS analysts said, while flagging potential risks from a disappointing stimulus package.
STORY: Chinese stocks sagged Tuesday, despite more reports of a big stimulus package in the works. The benchmark Shanghai composite index was down over 1% by early afternoon. Earlier, media group Caixin Global had reported that Beijing is set to raise $850 billion in new debt to help boost the economy. That comes after Finance Minister Lan Foan said over the weekend that China would increase debt issuance, but didn’t put a number on it. Beijing has been increasingly concerned that it won’t meet a target of 5% growth this year. Alarm has been raised by a slew of data coming in below expectations. Just this week, that was true for new numbers on trade and lending. In late September, authorities unleashed a package of monetary stimulus and property sector support measures. That helped drive shares to two-year highs, but the gains soon faded away as traders lamented a lack of detail on the new moves. Caixin says some of the additional money will be used to help local governments pay down their off-the-books debts. Many municipalities have been hard hit by the sharp downturn in the country’s property sector, as they rely for much of their income on auctioning land to developers. The property crisis has also weighed on consumer spending, with much household wealth tied up in real estate. Now the finance ministry says the new stimulus will also provide subsidies for low-income households, support the housing market and bolster capital at state banks.
Before last month’s Federal Reserve meeting, investors were sure inflation was behind them. Things are different now.
* Currencies tepid against stronger dollar * South Korea, Shanghai shares rise over 1% * Singapore keeps monetary policy steady * Rate decisions from Indonesia, Thailand, Philippines this week (.) By Himanshi Akhand Oct 14 (Reuters) - Asian stock markets rose and currencies lost momentum on Monday as investors assessed China's underwhelming stimulus steps, while focus was on monetary policy decisions by central banks in Indonesia, Thailand and the Philippines later this week. China said on Saturday it will "significantly increase" debt to revive its sputtering economy, but left investors guessing on the overall size of the stimulus package.
ROME (Reuters) -Italy's government plans to raise 3.5 billion euros ($3.81 billion) from domestic banks and insurers, Prime Minister Giorgia Meloni said on Tuesday after her cabinet approved budget plans for the next three years. The money raised would be earmarked for the national health service and the most vulnerable, Meloni wrote on the X social media platform. Officials previously said the levy on the financial sector would derive from a change in the taxation of stock options for managers and in the rules governing banks' tax credits stemming from past losses, known as deferred tax assets.