Page 2506 - Business Finance
BOJ holds policy, sticks to modest economic growth view despite trade perils
TOKYO (Reuters) - The Bank of Japan kept monetary policy steady on Wednesday and maintained its view the economy will continue to expand modestly, even as escalating global trade frictions threaten to chill growth.
Explainer: Why is Japan's monetary policy so unpopular with banks?
TOKYO (Reuters) - Japan's central bank has been pursuing quantitative easing for the past five years to spur consumption in the world's third largest economy, but its policies have also made it unpopular with banks due to pressure on their earnings.
US-China trade war could last 20 years: Jack Ma
Tech tycoon Jack Ma has told investors to hunker down for a drawn out trade war between the US and China that can last for upto 20 years.
India's struggle to defend rupee shifts focus to rate hikes
MUMBAI (Reuters) - Investors have increased bets that India's central bank will need to raise interest rates at least two more times this year to shore up the battered rupee after previous efforts to defend the currency failed to sway markets.
US-China trade war could last for 20 years: Jack Ma
The founder of Chinese e-commerce giant, Jack Ma, has given a grave warning that the trade war between China and the United States could last as long as 20 years.He made the comments at the company's investor day conference in Hangzhou on Monday, just a few hours before the Donald Trump administration slapped 10 per cent tariffs on Chinese goods amounting to USD 200 billion, CNNMoney reported."Business communities in China, the US and Europe will be all in trouble in the short term. It's going to last long, it's going to be a mess. The trade war will not last for just 20 days or 20 months, but maybe 20 years," Ma said.However, the 54-year-old tech tycoon said that the trade war is "against China" and hit out at his country's policies, calling on Chinese leaders to see the damage inflicted by Trump's tariff salvo, as an opportunity to "upgrade."The tariffs imposed by the US are set to come into effect from September 24 with the 10 per cent level, which will be increased to 25 per cent .
Oil prices fall amid surprise growth in U.S. crude stocks
BEIJING (Reuters) - Oil prices on Wednesday pulled back from gains racked up the previous day, pushed down amid a surprise climb in U.S. crude stockpiles.
Stocks, U.S. bond yields rise as trade row fails to dent confidence
TOKYO (Reuters) - Asian stocks rose and U.S. Treasury yields hovered near four-month highs on Wednesday, as investors looked past the latest escalation in the U.S.-China trade conflict, seen by some market participants as less severe than expected.
Why is Japan's monetary policy so unpopular with banks?
TOKYO (Reuters) - Japan's central bank has been pursuing quantitative easing for the past five years to spur consumption in the world's third largest economy, but its policies have also made it unpopular with banks due to pressure on their earnings.
China hits back with tariffs on $60 bn of US goods
China on Tuesday retaliated by slapping tariffs on USD 60 billion of American products, a day after the Donald Trump administration levied 10 per cent tariffs on USD 200 billion of Chinese goods.CNN quoted China's state council saying that the new tariffs would be imposed at rates of 5 per cent or 10 per cent, depending upon the product from the same date.The new round of tariffs by Beijing will affect over 5,000 US goods, ranging from meat, chemicals, nuts, alcoholic drinks, clothes, machinery, furniture and automobile parts.Expressing concerns over Washington's latest round of tariffs, Chinese foreign ministry spokesperson Geng Shuang said, "The Chinese side has repeatedly emphasised that the only correct way to solve the trade dispute between China and the United States is through talk and consultation on the basis of equity, integrity and mutual respect. But what the US side has done doesn't show sincerity or goodwill."Prior to the tariff salvo between the two countries, officials
Wall Street bounces back as investors shrug off trade tensions
NEW YORK (Reuters) - Wall Street rebounded on Tuesday in a broad-based rally as investors brushed aside intensifying trade rhetoric between the United States and China.
Stocks rise as no harm seen in trade row, dollar gains
NEW YORK (Reuters) - Global equity markets rallied on Tuesday as the latest tit-for-tat U.S.-Chinese trade dispute was seen as barely denting world growth, while U.S. Treasury yields rose in anticipation the Federal Reserve will hike interest rates this year and next.
Oil gains 1 percent on signs OPEC not prepared to boost output
NEW YORK (Reuters) - Oil futures rose more than 1 percent on Tuesday on signs that OPEC would not be prepared to raise output to address shrinking supplies from Iran, and as Saudi Arabia signalled an informal target near current levels.
Wall Street rebounds in the face of heated trade row
NEW YORK (Reuters) - Wall Street bounced back on Tuesday, led by gains in consumer discretionary, technology and industrial stocks as investors shrugged off escalating trade rhetoric between the United States and China.
Standalone 'Reliance Health Insurance' to be operational this fiscal: Anmol Ambani
Reliance Health Insurance -- a standalone health insurer -- will be operational this fiscal, said Anmol Ambani, Executive Director, Reliance Capital Ltd, on Tuesday.
SeaWorld, ex-CEO settle SEC charges they hid 'Blackfish' impact
NEW YORK (Reuters) - SeaWorld Entertainment Inc and former Chief Executive James Atchison will pay more than $5 million to settle U.S. Securities and Exchange Commission charges that they misled investors about the negative impact of the documentary "Blackfish" on the company.
Uganda to require telecoms firms to list on local bourse
KAMPALA (Reuters) - Uganda will introduce a requirement for all telecoms firms to list shares on the local bourse as a condition for obtaining a licence to operate in the country, a government statement said on Tuesday.
Marsh & McLennan to pay $5.7 billion for British insurance broker JLT
(Reuters) - Marsh & McLennan Cos Inc has agreed to buy British rival Jardine Lloyd Thompson for $5.7 billion as the world's biggest insurance broker looks to expand its global presence and increase its focus on faster-growing niche insurance areas.
'Merger of banks will make them commercially successful'
Principal Economic Advisor to the Ministry of Finance, Sanjeev Sanyal, said that the decision to merge three Public Sector Banks, namely, Vijaya Bank, Dena Bank, and the Bank of Baroda will make them commercially successful.In an exclusive interview to ANI, Sanyal said, "The merger has been done on a commercial basis. After a research, we felt that the merger of these three banks would increase their commercial viability. There are more than 20 PSU banks now. The talk of consolidation was going on for a long time. The merger of these three banks will create a somewhat bigger entity which will be more successful commercially."Dispelling fears that the merger might prove harmful to the employees of the banks and the shareholders, Sanyal added, "There should not be a loss of any kind. The shareholder or the account holder will not be able to make any difference. The delivery of the system will be much better, which will come with synergies, becoming a platform, and everyone will benefit .
Exclusive: Qualcomm prepares to add new board directors - sources
(Reuters) - Qualcomm Inc is preparing at add at least two new directors to its board, people familiar with the matter told Reuters, as the U.S. smartphone chip maker looks to appease shareholders who withheld voting support for its board last March.
U.S. DoJ requests documents related to Musk statement on taking Tesla private
(Reuters) - Tesla Inc said on Tuesday it received a request for documents from the U.S. Department of Justice over Chief Executive Elon Musk's public statements in August about taking the electric carmaker private.