The Japanese yen fell to a 32-year low against the US dollar after official data showed that prices in America rose faster than expected. The yen fell to 147.66 per dollar before recovering some ground. Shunichi Suzuki, Japan’s Finance Minister,… Read More ›
A draft document shows that European Union country leaders may support plans to launch a new gas price benchmark at a meeting next week in order to reduce energy prices for consumers and industries. The leaders will meet on October… Read More ›
According to a private-sector business survey released on Saturday, China’s services activity shrank in September for the first time in four months as COVID-19 restrictions weakened the country’s already brittle demand and lowered investor confidence. The COVID containment measures disrupted… Read More ›
To comply with new rules requiring a single charging port for most electronic devices, Apple will have to change the charger for its iPhones in the European Union beginning in autumn 2024. The reform, which was passed by an overwhelming… Read More ›
According to a report published by the news agency Reuters and based on information from three bank officials and two vault operators, gold-supplying banks have reduced shipments to India ahead of major festivals in favor of focusing on China, Turkey, and… Read More ›
Nike Inc cautioned that gross margins would remain under pressure throughout the year, joining peers in warning of a blow from increased discounts and a rapidly strengthening dollar. The company’s shares, which were already among the worst-performing Dow components this… Read More ›
Volkswagen is current in a great position to finance its electrification strategy, according to its finance chief, after reaping around 9.6 billion euros ($9.30 billion) from Porsche’s IPO and considering listing its battery unit. Arno Antlitz, a Reuters reporter, said the carmaker… Read More ›
Following their larger counterparts, a number of small and mid-sized Chinese banks are lowering deposit interest rates in the first widespread move since 2015 to relieve margin pressure brought on by a series of lending rate cuts. The slashing of… Read More ›
The London Metal Exchange (LME) is preparing to start debating prohibiting new deliveries of Russian metals such as aluminum, nickel, and copper so that its warehouses could be used to offload difficult-to-sell stock, according to reports quoting sources with knowledge of… Read More ›
The UK government’s proposal for tax cuts has drawn direct criticism from the International Monetary Fund, which also issued a warning that the measures could exacerbate the cost-of-living crisis. The IMF said in a statement that was unusually blunt that… Read More ›
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