Friday, 18 Sep 2020

Economy

Japan consumer prices fall at fastest pace in 4 years

TOKYO (REUTERS) – Japan’s core consumer prices fell at their fastest pace in almost four years in August, dragged mostly by government-sponsored discounts for domestic travel aimed at supporting the battered tourism sector. The weak consumer price data comes after Bank of Japan Governor Haruhiko Kuroda said on Thursday (Sept 18) it would monitor not […]

Chinese leaders determined to stay connected with the world: Chan Chun Sing

SINGAPORE – Whether China’s rise on the world stage is as an esteemed member of the global community or if it will be a lonely ascendancy rests on how it reaches out to other countries amid the Covid-19 pandemic, and the way it handles its rivalry with the United States. Trade and Industry Minister Chan […]

Cogeco accuses Rogers, Altice of ‘bad faith tactics’ in takeover bid

Cogeco Communications Inc. and its parent company are accusing Rogers Communications Inc. and its American partner of using “bad faith tactics” in their attempt to buy the company without support from its controlling shareholder. In a letter released two weeks after Rogers and Altice USA Inc. announced a $10.3 billion offer, Cogeco’s lead director says […]

Whatever happened to China's giant piles of abandoned bicycles?

BEIJING (BLOOMBERG) – Remember those colorful mountains of metal in China after its bike-sharing boom went bust in 2017? Ever wondered what happened to them? Here’s how you recycle bicycles. THE PROBLEM The bike-sharing craze in China five years ago sucked in billions of dollars of investors’ cash and clients’ deposits that start-ups spent on […]

Fed signals rates will stay near zero for at least three years

WASHINGTON (BLOOMBERG) – The Federal Reserve left interest rates near zero and signaled it would hold them there through at least 2023 to help the US economy recover from the coronavirus pandemic. The Federal Open Market Committee “expects to maintain an accommodative stance of monetary policy” until it achieves inflation averaging 2 per cent over […]

UK loses 700,000 jobs to pandemic as pressure mounts for aid

LONDON (BLOOMBERG) – Britain has lost almost 700,000 jobs in the coronavirus crisis, a blow to the economy that will heap further pressure on the government to extend its wage-support programs. The number of employees on payrolls in August is down 695,000 from March the Office for National Statistics said on Tuesday (Sept 15). The […]

US Fed to meet amid congressional deadlock over more Covid-19 relief

WASHINGTON (AFP) – The Federal Reserve’s (Fed) policy-setting committee will meet on Tuesday (Sept 15) amid a prolonged deadlock in Congress over how to support the US economy battered by the coronavirus downturn. The central bank deployed its most potent tools, including trillions of dollars in liquidity lines and an emergency rate cut to near-zero […]

UPDATE 2-Sudan declares state of economic emergency after sharp fall in currency

(Adds gold, U.S. sanctions, details) KHARTOUM, Sept 10 (Reuters) – Sudan declared an economic state of emergency on Thursday after its currency fell sharply in recent weeks, setting up special courts to prosecute what officials called a “systematic operation” to vandalize the economy. The transitional government, in charge of the country since the ouster of […]

Colombia's Congress approves $84.5 bln for 2021 budget spending

BOGOTA, Sept 10 (Reuters) – Colombia’s Congress on Thursday approved the 314 trillion peso ($84.5 billion) spending proposed by the government for its 2021 budget. The budget, the largest in history, is up 8.3% from the 290 trillion pesos that were approved for 2020 and will be used to re-start the Andean country’s economy, which […]

TREASURIES-Yields fall after 30-year auction sees solid demand

(Recasts with auction results, adds analyst quotes, updates prices) By Karen Brettell NEW YORK, Sept 10 (Reuters) – U.S. Treasury yields fell on Thursday and the yield curve flattened after the government sold $23 billion in 30-year bonds to solid demand, the final sale of $108 billion in new coupon-bearing supply this week. The 30-year […]