Author: Press Room

© Reuters. FILE PHOTO: Japanese national flag is hoisted atop the headquarters of Bank of Japan in Tokyo, Japan September 20, 2023. REUTERS/Issei Kato/File Photo By Leika Kihara TOKYO (Reuters) – The Bank of Japan may be underestimating the risk of being too late in addressing mounting inflationary pressures from rising service prices and wages, the central bank’s former top economist said. The bank on Tuesday raised its inflation forecasts to well above its 2% target for this year and next but said the revisions were largely due to transitory factors, such as more companies passing on higher raw material…

© Reuters. Edison International (NYSE:), an electric power provider based in Rosemead, and Energy Recovery Inc. (NASDAQ:), a San Leandro-based firm known for manufacturing energy recovery devices, both reported their third quarter earnings on Wednesday. Energy Recovery Inc. disclosed a Q3 profit of $9.7 million, equivalent to 17 cents per share in USD. After adjusting for stock option expenses, the earnings per share (EPS) were 20 cents. The company’s revenue for the quarter was reported at $37 million. On the other hand, Edison International revealed a Q3 profit of $212 million with a net income of 40 cents per share.…

Warning: AUOTY is at high risk of cutting its dividend

© Reuters. Investing.com – The U.S. dollar fell sharply in early European trade Thursday after comments from Fed Chair Jerome Powell pointed to a likely peak in U.S. interest rates.  At 04:10 ET (08:10 GMT), the Dollar Index, which tracks the greenback against a basket of six other currencies, traded 0.4% lower at 106.290, extending overnight losses. Have Fed rates peaked? The U.S. left rates unchanged on Wednesday, as expected, and while Chair left the door open for another rate hike he struck a less hawkish tone than markets were expecting, by acknowledging that monetary conditions had tightened substantially in…

A Democratic pro-Israel group on Thursday is beginning to air television ads that criticize Representative Rashida Tlaib of Michigan, in the first attempt to hit back on the airwaves at the growing caucus of Israel skeptics within the Democratic Party.The ad from the group, Democratic Majority for Israel, comes as President Biden and other Democrats face a backlash from the left for their stalwart support of Israel as it bombs and invades the Gaza Strip in retaliation for the Oct. 7 Hamas attack.Ms. Tlaib, the only Palestinian American in Congress and one of two Muslim women in the House, has…

The UAW wants to unionize more US automakers after reaching tentative agreements with the Big Three. While Elon Musk has spoken out against unions, a major Tesla factory reportedly has a UAW organizing committee that’s speaking with workers. Some Tesla workers say they wouldn’t join a unionized company and predicted the UAW would struggle to find footing at Tesla. Loading Something is loading. Thanks for signing up! Access your favorite topics in a personalized feed while you’re on the go. download the app The United Auto Workers might have set its sights on Tesla, but some workers at the EV…

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Shell reported adjusted earnings of $6.2bn in the third quarter and increased share buybacks as robust oil prices and higher refining margins helped drive profits.The earnings, which were in line with market estimates, were down about a third from $9.5bn reported last year at the height of the energy crisis, but beat the $4.1bn in the same period of 2021.Shell left its quarterly dividend unchanged after but announced $3.5bn in share buybacks for the next three months, up from $3bn in the…

© Reuters The Reserve Bank of India (RBI), under the leadership of Governor Shaktikanta Das, has seen the successful return of more than 97% of the discontinued Rs 2,000 banknotes. These notes were introduced in November 2016 to combat counterfeiting and black money, and were withdrawn on May 19, 2023. Despite their withdrawal, these notes continue to be a legal tender. As of October 31, 2023, only Rs 10,000 crore remained in circulation, reducing the total value from Rs 3.56 lakh crore to Rs 0.10 lakh crore. The initial deadline for depositing or exchanging these notes was extended to October…

© Reuters. San Diego-based Qualcomm (NASDAQ:) Inc. has reported a profit of $1.49 billion for its fiscal fourth quarter, surpassing Wall Street expectations. The chipmaker’s earnings per share (EPS) rose to $2.02 after adjusting for stock option expense, beating Zacks Investment Research’s average analyst prediction of $1.92 per share. Qualcomm’s revenue for the period was a notable $8.63 billion, exceeding analysts’ projections of $8.55 billion. On Thursday, Qualcomm’s Q3 2023 earnings were reported to have surpassed Zacks’ estimate by 5.21% at $2.02 per share, although this was lower than the previous year’s $3.13 per share. This performance reflects the company’s…

© Reuters. Oil prices have seen an increase following the Federal Reserve’s indication of potentially halting further interest rate hikes, thereby stabilizing a previously uncertain demand outlook. This comes as the Federal Reserve refrained from raising borrowing costs for two consecutive meetings. The recent rise in long-term Treasury yields has been cited as a factor reducing the need for another hike. The global benchmark and West Texas Intermediate (WTI) oil prices have advanced, with Brent nearing $86 per barrel. This movement is in line with broader financial markets. Despite concerns about the Israel-Hamas conflict potentially disrupting oil supplies, the situation…