Economy
Japan Inc set to offer bumper pay hikes, paving way for BOJ stimulus exit By Reuters
By Tetsushi Kajimoto TOKYO (Reuters) - Big Japanese companies look set to formally offer hefty pay hikes at annual wage talks with unions that wrap…
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Bain Capital buys Brazilian steakhouse chain Fogo de Chão in $1.1 billion deal
(Corrects syntax error in last paragraph) By Abigail Summerville NEW YORK (Reuters) -Private equity firm Bain Capital on Tuesday agreed…
Treasury Secretary Janet Yellen admits to eating ‘hallucinogenic’ mushrooms during China visit: ‘Delicious’
Treasury Secretary Janet Yellen ate hallucinogenic mushrooms during her recent visit to China, she announced Monday. Yellen ate the mushrooms…
U.S. import prices jump in July by largest amount in more than a year
The numbers: The U.S. import price index rose 0.4% in July, the Labor Department said Tuesday. This is the biggest…
Broker XP’s revenue rises on higher client assets, card segment growth
(Reuters) - Brazilian investment manager and broker XP (NASDAQ:) on Monday reported a rise in second-quarter revenue, helped by a…
Builder confidence falls for the first time in 2023, despite strong U.S. home-buying demand
The numbers: Builder confidence waned in August as the 30-year mortgage rate surged, dampening U.S. home-buying interest. Despite a persistent…
Marketmind: China data deluge as EM turmoil deepens
By Jamie McGeever (Reuters) - A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist.…
U.S. retail sales post biggest gain in six months. Amazon Prime Day delivers.
The numbers: Sales at U.S. retailers rose 0.7% in July and posted the biggest increase in six months, helped by…
Brazil’s Magalu blames wider quarterly loss on high borrowing costs
SAO PAULO (Reuters) - Brazilian retailer Magazine Luiza reported on Monday a second-quarter adjusted net loss of 198.8 million reais…
Bankman-Fried used $100 million in stolen FTX funds for political donations, US says
By Luc Cohen NEW YORK (Reuters) -Sam Bankman-Fried used money he stole from customers of his FTX cryptocurrency exchange to…
New York Fed’s Empire State factory gauge falls back into negative territory in August
The numbers: The New York Fed’s Empire State business conditions index, a gauge of manufacturing activity in the state, fell…
China Evergrande NEV shares jump on $3.2 billion plan to lower debt
BEIJING/HONG KONG (Reuters) -China Evergrande New Energy Vehicle Group (NEV) shares jumped nearly 50% on Tuesday after the electric vehicle…
Aussie lender NAB’s Q3 margins decline; shares up on cash earnings beat
By Archishma Iyer (Reuters) -National Australia Bank said on Tuesday third-quarter margins declined due to increased home lending competition and…
Russia hikes interest rates by 3.5 percentage points
Responding to a rapidly deteriorating ruble, the Bank of Russia hiked its key interest rate on Tuesday by 3.5 percentage…
China central bank unexpectedly cuts rates to support sputtering economy
SHANGHAI/SINGAPORE (Reuters) - China's central bank unexpectedly cut key policy rates for the second time in three months on Tuesday,…
White House pledges to crack down on ‘abusive’ data-harvesting companies
The Biden administration is highlighting its efforts to combat abuses in the consumer-data industry, with regulators such as the Consumer…
Shares of China’s Country Garden rise more than 7% in early trade
HONG KONG (Reuters) - Shares of Country Garden rose more than 7% on Tuesday, recovering some ground after the stock…
Philippine central bank to hold rates at 6.25%, cut in Q1 2024: Reuters poll
By Veronica Dudei Maia Khongwir BENGALURU (Reuters) - The Philippine central bank will leave its key interest rate unchanged at…
China halts release of youth unemployment data
China has decided to halt the release of youth unemployment figures, a month after data showed they reached a record…