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

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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

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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

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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

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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

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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.

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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

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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

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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

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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

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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

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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

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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

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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,

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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

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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

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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

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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

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