A guide sign reading “Bank of Japan” is seen in Tokyo on July 31, 2024.Kazuhiro Nogi | Afp | Getty ImagesBank of Japan board members are split over the future path of interest rates, minutes of the central bank’s monetary policy meeting in July showed.During the meeting, the board noted that Japan’s economic activity and prices had been “developing generally in line with the Bank’s outlook.”The BOJ’s July economic outlook mentioned that the country’s core inflation rate — which strips out prices of fresh food — would likely be around 2.5% for the 2024 fiscal year, and about 2% for…
Author: usaeverydaylife
A man shelters from the rain under an umbrella as he walks past the Euro currency sign in front of the former European Central Bank (ECB) building in Frankfurt am Main, western Germany.Kirill Kudryavtsev | Afp | Getty ImagesEuropean banking’s latest takeover battle is widely regarded as a potential turning point for the region — particularly the bloc’s incomplete banking union.Italy’s UniCredit has ratcheted up the pressure on Frankfurt-based Commerzbank in recent weeks as it seeks to become the biggest investor in Germany’s second-largest lender with a 21% stake.The Milan-based bank, which took a 9% stake in Commerzbank earlier this month, appears to have…
Delegates attend day three of the Labour Party Conference 2024 at ACC Liverpool on September 24, 2024 in Liverpool, England. Ian Forsyth | Getty Images News | Getty ImagesLiverpool, ENGLAND — U.K. finance chiefs are banging the drum for pension reforms to boost anaemic investment and growth in the country.The annual Labour conference — the centre-left party’s first in power for 15 years — was awash with delegates from the City of London urging the government to move decisively with plans to make retirement schemes more competitive.William Vereker, chairman of Santander U.K., cited pension reform as one of three paths to…
Zepto is the top startup to work for in India in 2024, according to LinkedIn. Julief514 | Istock | Getty ImagesLinkedIn released its seventh annual top startups list for India, showcasing the country’s emerging companies based on data from the professional social-networking site.The report comes amid a booming environment for entrepreneurs. In fact, India has the third-largest startup ecosystem in the world, according to official government site Startup India.”As of 2022, the number of unicorns in India was second only to the U.S., having outpaced China in 2020,” according to an August report published by the Lee Kuan Yew School of…
SK Hynix Inc. signage at the company’s office in Seongnam, South Korea, on Monday, April 22, 2024. SK Hynix is scheduled to release earnings figures on April 25. Photographer: SeongJoon Cho/Bloomberg via Getty ImagesBloomberg | Bloomberg | Getty ImagesSK Hynix shares surged more than 9% Thursday morning after the company said it has started mass production of a new version of its high-bandwidth memory chips and aims for delivery by year-end.The product would be the world’s first 12-layer version of HBM3E, which refers to the latest generation of an advanced memory chip that’s capable of handling high-end generative artificial intelligence…
Donald Trump, who has been quite vocal about a tariff-heavy trade policy, appears to have shifted the focus of his protectionist agenda from China to some of the closest U.S. allies. Speaking at a campaign event in Savannah, Georgia, on Tuesday, the Republican presidential nominee said he would build upon the tariff policies of his first term in an effort to take manufacturing jobs from foreign countries — both friends and foe. “You will see a mass exodus of manufacturing from China to Pennsylvania, from Korea to North Carolina, from Germany to right here in Georgia,” he said in his mostly economic-centered…
Budrul Chukrut | Lightrocket | Getty ImagesU.S. drugmaker Pfizer said on Wednesday it is withdrawing its sickle cell disease therapy Oxbryta in all markets where it is approved and discontinuing all studies and access programs related to the treatment.The decision is based on the totality of clinical data, which now indicates that the benefit of Oxbryta no longer outweighs the risks associated with its use, Pfizer said.The company added that the data for Oxbryta shows that there is an imbalance in vaso-occlusive crises, a complication of the disease and “fatal events” which require further assessment.Pfizer said it will further review and investigate the available data…
India’s economic growth story is a stunning one — but the question of where investors should park their money is not always straightforward, with one Blackstone executive highlighting a common mistake. India is set to become the world’s third-largest economy by 2027, according to its finance ministry . The country’s stock market has also been in the spotlight this year, overtaking Hong Kong to become the fourth-largest globally in terms of the total value of listed companies. India’s benchmark indexes have notched successive record highs throughout the year — the Nifty 50 and BSE Sensex indexes are almost 20% and…
China’s government announced it will offer a one-time cash allowance to those in extreme poverty, a day after its central bank rolled out a slate of stimulus measures aimed at shoring up the economy.The handout will be provided to “extremely poor people, orphans and other needy people on the occasion of the 75th anniversary of the founding of New China,” China’s Ministry of Civil Affairs reported on Wednesday. That’s according to a Google translation. The subsidies will be doled out before China’s National Day on Oct. 1 to “promptly convey the Party and government’s care and concern for the needy.”…
SYDNEY, AUSTRALIA – SEPTEMBER 05: A person looking at milk products in a supermarket on September 05, 2024 in Sydney, Australia. Australia is currently facing a severe cost of living crisis, with rising prices for essentials like food, housing, and utilities significantly outpacing wage growth, leaving many households struggling to make ends meet.James Gourley | Getty Images News | Getty ImagesAustralia’s inflation rate has come within the RBA’s target range in the month of August, easing from 3.5% in July to 2.7%., according to a Wednesday release from the country’s Bureau of Statistics.The drop puts the rate below the Reserve Bank of…
