DIRS.INFO The most relevant business & tech news

"There is a significant risk in the short term of financial crisis or other degree of economic crisis that would carry very substantial social and political costs for the Chinese government. By the time the global financial crisis hit in 2008-09, it had already met most of its investment needs for its level of development, economists say. To keep growth high, China in the 2010s doubled down on infrastructure and property investment, at the expense of household consumption. China has since backed away from major financial market liberalisation while plans to rein in state behemoths and introduce universal social welfare never quite materialised. "But at the same time there's a great fear of the short-term political and social risk, especially of provoking an economic crisis."

Persons: Xi Jinping's, William Hurst, Chong Hua, there's, Max Zenglein, We're, Logan Wright, Alicia Garcia Herrero, Hurst, Liangping Gao, Kevin Yao, Kripa Jayaram, Marius Zaharia, Sam Holmes Organizations: Development, University of Cambridge, International Monetary Fund, Asia Pacific, China's, Reuters Graphics, Thomson Locations: BEIJING, China, Japan, Beijing, Natixis

☆ Visualizing the Latest Wave of N.C.A.A. Conference Realignment
▼ + stars: | 2023-09-01 | by ( Josh Katz | Kevin Quealy | ) www.nytimes.com time to read: +5 min

Missouri and Texas A&M were the first teams to join the SEC in 20 years. Financial benefits and concerns about conference stability lured Boston College to become the A.C.C.’s 12th member in 2005. Penn State, one of the last major programs to remain independent, became the Big Ten’s 11th member in 1993, setting off a wave of realignment across college football. The Missouri Valley Conference stopped sponsoring football after the 1985 season. Arkansas departed for the SEC in 1991, signaling the beginning of the end for the Southwest Conference, long associated with N.C.A.A.

Persons: Drake, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman Paladins George, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman Paladins George Washington Colonials Georgia Bulldogs Georgia Southern Eagles Georgia State Panthers Georgia Tech Yellow Jackets Harvard Crimson Hawaii Rainbow Warriors Houston Cougars Idaho Vandals Illinois Fighting Illini Illinois State Redbirds Indiana Hoosiers Indiana State Sycamores Iowa Hawkeyes Iowa State Cyclones Jacksonville State Gamecocks James Madison, Monroe Warhawks Louisville Cardinals Marshall Thundering, William, Mary Organizations: Air Force Falcons Akron Zips Alabama Crimson Tide Appalachian State Mountaineers Arizona Wildcats Arizona State Sun Devils Arkansas Razorbacks Arkansas State Red Wolves Army Black Knights Auburn Tigers Ball State Cardinals Baylor Bears Boise State Broncos Boston College Eagles Bowling Green State Falcons Brigham Young Cougars Brown Bears Buffalo Bulls Cal State Fullerton Titans Cal State Los Angeles Golden Eagles California Golden Bears, Santa Barbara Gauchos, Santa Barbara Gauchos Central Michigan Chippewas Charlotte 49ers Chattanooga Mocs Cincinnati Bearcats Clemson Tigers Coastal, Colorado Buffaloes Colorado State Rams Columbia Lions Connecticut Huskies Cornell Big Red Dartmouth Big Green Davidson, Drake Bulldogs Duke Blue Devils East Carolina Pirates East Tennessee State Buccaneers Eastern Michigan Eagles Florida Gators, Atlantic Owls Florida, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman Paladins George Washington Colonials Georgia Bulldogs Georgia Southern Eagles Georgia State Panthers Georgia Tech Yellow Jackets Harvard Crimson Hawaii Rainbow Warriors Houston Cougars Idaho Vandals Illinois Fighting Illini Illinois State Redbirds Indiana Hoosiers Indiana State Sycamores Iowa Hawkeyes Iowa State Cyclones Jacksonville State Gamecocks, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman Paladins George Washington Colonials Georgia Bulldogs Georgia Southern Eagles Georgia State Panthers Georgia Tech Yellow Jackets Harvard Crimson Hawaii Rainbow Warriors Houston Cougars Idaho Vandals Illinois Fighting Illini Illinois State Redbirds Indiana Hoosiers Indiana State Sycamores Iowa Hawkeyes Iowa State Cyclones Jacksonville State Gamecocks James Madison Dukes Kansas Jayhawks Kansas State Wildcats Kent State Golden Flashes Kentucky Wildcats LSU Fighting Tigers Liberty Flames Long, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman Paladins George Washington Colonials Georgia Bulldogs Georgia Southern Eagles Georgia State Panthers Georgia Tech Yellow Jackets Harvard Crimson Hawaii Rainbow Warriors Houston Cougars Idaho Vandals Illinois Fighting Illini Illinois State Redbirds Indiana Hoosiers Indiana State Sycamores Iowa Hawkeyes Iowa State Cyclones Jacksonville State Gamecocks James Madison Dukes Kansas Jayhawks Kansas State Wildcats Kent State Golden Flashes Kentucky Wildcats LSU Fighting Tigers Liberty Flames Long Beach State, Niners Louisiana, Louisiana Tech Bulldogs Louisiana, Monroe Warhawks Louisville Cardinals, Terrapins Massachusetts Minutemen Memphis Tigers Miami, Hurricanes Miami, Michigan Wolverines Michigan State Spartans Middle Tennessee State Blue Raiders Minnesota Golden Gophers Mississippi State Bulldogs Missouri Tigers Navy Midshipmen Nebraska Cornhuskers Nevada Wolf, Las Vegas Rebels New, Lobos New Mexico State Aggies North, Tar, Carolina State Wolfpack, Texas, Green Northern Illinois Huskies Northwestern Wildcats Notre Dame Fighting Irish Ohio Bobcats Ohio State Buckeyes Oklahoma Sooners Oklahoma State Cowboys Old Dominion Monarchs Ole Miss Rebels Oregon Ducks Oregon State Beavers Pacific Tigers Penn State Nittany Lions Pennsylvania Quakers Pitt Panthers Princeton Tigers Purdue Boilermakers Rice Owls Richmond Spiders Rutgers Scarlet Knights SMU Mustangs Sam Houston State Bearkats San Diego State Aztecs San Jose State Spartans South Alabama Jaguars South Carolina Gamecocks South Florida Bulls Southern Illinois Salukis, Green Northern Illinois Huskies Northwestern Wildcats Notre Dame Fighting Irish Ohio Bobcats Ohio State Buckeyes Oklahoma Sooners Oklahoma State Cowboys Old Dominion Monarchs Ole Miss Rebels Oregon Ducks Oregon State Beavers Pacific Tigers Penn State Nittany Lions Pennsylvania Quakers Pitt Panthers Princeton Tigers Purdue Boilermakers Rice Owls Richmond Spiders Rutgers Scarlet Knights SMU Mustangs Sam Houston State Bearkats San Diego State Aztecs San Jose State Spartans South Alabama Jaguars South Carolina Gamecocks South Florida Bulls Southern Illinois Salukis Southern Mississippi Golden Eagles Stanford Cardinal Syracuse Orange Temple Owls Tennessee Volunteers Texas Longhorns Texas, Aggies Texas, State Bobcats Texas Tech Red Raiders, Citadel Bulldogs Toledo Rockets Troy, Tulane Green Wave Tulsa, Hurricane U.C.L.A, Bruins U.S.C, Trojans UAB Blazers UCF Knights UTEP Miners UTSA Roadrunners Utah Utes Utah State Aggies Vanderbilt Commodores Virginia Cavaliers Virginia Military, Keydets Virginia Tech, Deacons Washington Huskies Washington State Cougars West Texas State Buffaloes West Virginia Mountaineers Western, Western Michigan Broncos Wichita State, Mary Tribe Wisconsin Badgers Wyoming Cowboys Yale Bulldogs, Big, Notre Dame, SEC, Boston College, Boise State, WAC, ESPN, Penn State, The Ivy League, The Southern Conference, AA, Arizona State, Missouri Valley Conference, Arkansas, Southwest Conference Locations: Santa, Santa Barbara Gauchos Central Michigan, Santa Barbara Gauchos Central Michigan Chippewas Charlotte 49ers Chattanooga Mocs Cincinnati Bearcats Clemson Tigers Coastal Carolina, Golden Panthers Florida State Seminoles Fresno State Bulldogs Furman Paladins George Washington Colonials Georgia Bulldogs Georgia Southern Eagles Georgia State Panthers Georgia Tech Yellow Jackets Harvard Crimson Hawaii Rainbow Warriors Houston Cougars Idaho Vandals Illinois Fighting Illini Illinois State Redbirds Indiana Hoosiers Indiana State Sycamores Iowa Hawkeyes Iowa State Cyclones Jacksonville State Gamecocks James Madison Dukes Kansas Jayhawks Kansas State Wildcats Kent State Golden Flashes Kentucky Wildcats LSU Fighting Tigers Liberty Flames Long Beach, Michigan Wolverines Michigan State Spartans Middle Tennessee State Blue Raiders Minnesota Golden Gophers Mississippi State Bulldogs Missouri Tigers Navy Midshipmen Nebraska Cornhuskers Nevada Wolf Pack Nevada, Green Northern Illinois Huskies Northwestern Wildcats Notre Dame Fighting Irish Ohio Bobcats Ohio State Buckeyes Oklahoma Sooners Oklahoma State Cowboys Old Dominion Monarchs Ole Miss Rebels Oregon Ducks Oregon State Beavers Pacific Tigers Penn State Nittany Lions Pennsylvania Quakers Pitt Panthers Princeton Tigers Purdue Boilermakers Rice Owls Richmond Spiders Rutgers Scarlet Knights SMU Mustangs Sam Houston State Bearkats San Diego State Aztecs San Jose State Spartans South Alabama Jaguars South Carolina Gamecocks South Florida Bulls Southern Illinois Salukis Southern, Deacons Washington Huskies Washington State Cougars West Texas State Buffaloes West Virginia Mountaineers Western Carolina, Western Kentucky, Notre, . Missouri, Texas, Arizona

☆ Rich, poor countries split over costs of pandemic prevention
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +9 min

REUTERS/Bruno Kelly/StringerSince early in the COVID-19 pandemic, global health officials have sought to create a “pandemic treaty” to better prepare for future outbreaks. The governing body of the World Health Organization, or WHO, chose delegates from each of its six administrative regions worldwide to lead the negotiations. Ahead of next week’s meeting, according to officials interviewed by Reuters, the biggest sticking point remains financing for poor countries. The United States and the European Union have both said they support the inclusion of “One Health” provisions in a pandemic treaty. But as a far-reaching and sometimes abstract concept, “One Health” measures could be costly to put into practice.

Persons: ”, Chadia Wannous, zoonotic spillover, Bruno Kelly, Stringer, Lawrence Gostin, ” Gostin, –, Maria Van Kerkhove, “, Deborah J, Nelson, Ryan McNeill, Helen Reid, Sam Hart, Simon Newman, Edgar Su, Paulo Prada, Janet Roberts, Feilding Organizations: LONDON Health, World Health Organization, Organisation for Animal Health, Reuters, REUTERS, WHO, European Union, Center, National, Global Health Law, “, Pacific, Brazilian, South Locations: Geneva, France, United States, Asia, Africa, Latin America, Americas, Southeast Asia, Brazil

☆ China to cut banks' FX reserve ratio to rein in yuan weakness
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

The headquarters of the People's Bank of China, the central bank, is pictured in Beijing, China, February 3, 2020. The People's Bank of China (PBOC) said it would cut the foreign exchange reserve requirement ratio (RRR) by 200 basis points (bps) to 4% from 6% beginning Sept. 15, according to an online statement. That would effectively free up $16.4 billion worth of foreign exchange with China's FX deposits standing at $821.8 billion at end-July. The PBOC said its move was to "improve financial institutions' ability to use foreign exchange funds". Cheung added that Friday's announcement reinforced the central bank's stance to defend a weakening yuan but was "unlikely to reverse the bearish picture of the yuan."

Persons: Jason Lee, Ken Cheung, Cheung, Winni Zhou, Tom Westbrook, Christian Schmollinger, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Mizuho Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States

☆ China's Aug factory activity picks up unexpectedly - Caixin PMI
▼ + stars: | 2023-09-01 | by ( ) www.reuters.com time to read: +3 min

A worker wearing a face mask works on a production line manufacturing glassware products at a factory in Haian, Jiangsu province, China February 29, 2020. The Caixin/S&P Global manufacturing purchasing managers' index (PMI) rose to 51.0 in August from 49.2 in July, beating analysts' forecasts of 49.3 and marking the highest reading since February. The data, a snapshot of the sprawling manufacturing economy, surprised to the upside but offered a mixed picture of the sector, a day after an official survey showed manufacturing activity contracted for a fifth straight month. The Caixin manufacturing PMI surveys around 650 private and state-owned manufacturers and focuses more on export-oriented firms in coastal regions, while the official PMI surveys 3,200 companies across China. Manufacturers reported increases in both output and total order intakes thanks to firmer market demand, the Caixin survey showed.

Persons: Wang Zhe, Wang, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, P Global, Analysts, Manufacturers, Caixin Insight, Thomson Locations: Haian, Jiangsu province, China, Rights BEIJING

A man walks in front of the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. For years, the government has kept borrowing costs, as measured by assumed interest rates, low, effectively allowing the Bank of Japan (BOJ) to bankroll debt. That is up from 25.25 trillion yen this year, the sources said, requesting anonymity as they were not authorised to speak publicly. For the current fiscal year, the annual budget hit a record 114 trillion yen, boosted by steps to cope with COVID. Social security accounts for nearly one-third of budget spending, making it the lion's share of the overall budget, followed by debt-servicing costs, which make up more than a fifth of the budget.

Persons: Issei Kato, Izuru Kato, Tetsushi Kajimoto, Takaya Yamaguchi, Sam Holmes, Alex Richardson Organizations: Bank of Japan, REUTERS, Rights, Totan, Thomson Locations: Tokyo, Japan, China, North Korea

However, in a hopeful sign for growth, conditions did not materially worsen even though the survey showed factories under persistent pressure. China's major manufacturing rivals in the region Japan and South Korea also reported sharp declines in output on Thursday. "It's too early to tell, but today's print suggests that a sequential uptick in growth activity in the third quarter could still be possible," said Louise Loo, senior economist with Oxford Economics. Policymakers remain under pressure to boost domestic demand as the global economy continues to slow. Going forward, "the actual implementation and effectiveness of policy support will be the key indicator to watch," he added.

Persons: It's, Louise Loo, Pan Gongsheng, Frederic Neumann, Bruce Pang, Jones Lang Lasalle, Joe Cash, Qiaoyi Li, Ellen Zhang, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, PMI, Oxford Economics, Reuters, People's Bank of, Global Research Asia, HSBC, Jones, Thomson Locations: Hangzhou, Zhejiang province, China, Rights BEIJING, Japan, South Korea, People's Bank of China, United States, Europe, Asia

☆ Japan's July factory output slumps, raises pressure on manufacturers
▼ + stars: | 2023-08-31 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Issei Kato/File Photo Acquire Licensing RightsTOKYO, Aug 31 (Reuters) - Japan's factory output fell more than expected in July, signalling a rocky start to the second half of the year for manufacturers as worries mount over growth in China and the global economy. Industrial output fell 2.0% in July from the previous month, data from the Ministry of Economy, Trade and Industry (METI) showed on Thursday. Output of electronic parts and devices fell 5.1%, while that of production machinery decreased 4.8%, driving the overall decline. Among production machinery, output for semiconductor manufacturing equipment fell by 16.4%. Other data showed Japanese retail sales expanded 6.8% in July from a year earlier.

Persons: Issei Kato, Masato Koike, Satoshi Sugiyama, Kantaro Komiya, Chang, Ran Kim, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Rights, Ministry, Economy, Trade, Industry, Toyota, Honda, Manufacturers, Sompo, Thomson Locations: Kawasaki, Japan, China

☆ BOJ policymaker signals chance of policy tweak early next year
▼ + stars: | 2023-08-30 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

The remarks are the strongest signal to date by a Bank of Japan (BOJ) policymaker that rising inflation and wages could prod the bank to take bolder steps towards phasing out its radical stimulus. "About a decade has passed since the BOJ began efforts to sustainably and stably achieve its 2% inflation target. For now, the BOJ must sustain monetary easing to scrutinise wage and price developments, said the former commercial banker. "Abandoning negative rates will obviously be among options" if the BOJ were to normalise policy, he said. "Even if the BOJ were to end negative rates, it won't be scaling back monetary easing as long as it can keep interest rates low."

Persons: Issei Kato, Tamura BOJ, KUSHIRO, Naoki Tamura, Tamura, Kazuo Ueda, Shinichi Uchida, Ueda, Leika Kihara, Muralikumar Anantharaman, Sam Holmes Organizations: Bank of Japan, REUTERS, Reuters, Thomson Locations: Tokyo, Japan

☆ Dollar finds feet as investors await further clues on Fed path
▼ + stars: | 2023-08-30 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsTOKYO, Aug 30 (Reuters) - The U.S. dollar on Wednesday clawed back some of the previous session's sharp declines as investors looked ahead to more labour market data for clues on the path for Federal Reserve policy. The dollar index - which measures the currency against six major peers including the yen and euro - added 0.09% to 103.64 as of the Asian afternoon. On Tuesday, it had surged to a 10-month peak at 147.375 leading into the JOLTS report, only to end the day with a 0.45% decline. The Aussie dollar dipped as much as 0.46% after the data but eventually shook the data off to trade little changed at $0.64775. The Chinese yuan weakened slightly in offshore trading to 7.3002 per dollar, but remained well above the Aug. 17 low of 7.3490.

Persons: Dado Ruvic, pare, Matt Simpson, Simpson, Naoki Tamura, Jerome Powell, bitcoin, cryptocurrency, we're, Chris Weston, Kevin Buckland, Tom Westbrook, Lincoln, Sam Holmes Organizations: REUTERS, Rights, U.S, Federal Reserve, U.S ., Treasury, Bank of Japan, Money, Fed, Reserve Bank of Australia, People's Bank of, Thomson Locations: People's Bank of China

☆ China rally runs on hope; bonds bet on slowdown
▼ + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

European futures rose 0.2% and FTSE futures rose 0.8% to point to a positive return from a day's holiday in London. SLOWINGElsewhere in Asia, investors' focus was on U.S. data that may determine whether or not interest rates need to rise further. U.S. Treasuries extended overnight gains, driving two-year yields down five basis points (bps) to 5% and 10-year yields down two bps to 4.1922%. The Australian dollar inched 0.3% higher to $0.6440, with incoming central bank governor Michelle Bullock due to speak later in the day. The yen remained pinned near Monday's 10-month low, for a loss of some 10% on the dollar this year.

Persons: Ryan Felsman, Michelle Bullock, Jason Xue, Sam Holmes, Kim Coghill Organizations: Foreigners, Treasury, Workers, of America, Financial, HK, Traders, Benchmark, Commonwealth Bank, Thomson Locations: China, Australia, SINGAPORE, Asia, Pacific, Japan, Hong Kong, London, U.S, Sydney . U.S, Shanghai

☆ China's factory activity likely extended declines in August - Reuters poll
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +2 min

An employee works on the production line of Nio electric vehicles at a JAC-NIO manufacturing plant in Hefei, Anhui province, China August 28, 2022. China Daily via REUTERS/File Photo Acquire Licensing RightsBEIJING, Aug 29 (Reuters) - China's factory activity likely contracted for a fifth straight month in August, a Reuters poll showed on Tuesday, as weak demand threatens recovery prospects in the world's second-largest economy and pressures officials to prop up growth. An index reading above 50 indicates expansion in activity on a monthly basis while below that signals contraction. "ASEAN, China's top trading partner, has also decreased to a nearly two-year low of 50.8." The official manufacturing PMI, which largely focuses on big and state-owned firms, and its survey for the services sector, will be released on Thursday.

Persons: Taimur Baig, Joe Cash, Anant Chandak, Susobhan Sarkar, Sam Holmes Organizations: REUTERS, Rights, Manufacturing, DBS, ASEAN, PMI, Thomson Locations: Hefei, Anhui province, China, Rights BEIJING, Bengaluru

☆ China extends tax breaks for foreign workers until 2027
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Aug 29 (Reuters) - China will extend preferential tax policies for foreign nationals working in the country through to the end of 2027, the finance ministry said on Tuesday, in a boon to foreign firms struggling to attract talent post-COVID. The government proposed scrapping the provision of non-taxable allowances for foreign workers in 2022, but decided to extend the scheme on a review basis until the end of this year. "This announcement to extend the existing individual income tax regime is a genuine statement of commitment from the Chinese government to the multinational companies operating here." As China's economy slows, authorities have struggled to revive foreign investment with global firms unimpressed by new incentives they say fall far short of sweeteners once used to attract overseas money. Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Kiran Patel, Joe Cash, Sam Holmes Organizations: China - Britain Business Council, Thomson Locations: BEIJING, China

☆ Bonds rally, stocks drift as China boost fades
▼ + stars: | 2023-08-29 | by ( Tom Westbrook | ) www.reuters.com time to read: +3 min

The yen remained an outlier and within a whisker of Monday's 10-month low, which has traders on edge about the risk of intervention. Over the weekend, China announced a halving in stock-trading stamp duties and had on Friday approved some guidelines for affordable housing. Hong Kong's Hang Seng (.HSI) closed less than 1% higher on Monday and was 1% firmer in early trade on Tuesday. On Tuesday in New Zealand shares in Tourism Holdings (THL.NZ), the world's largest campervan rental company, surged 13% after the company reported a record underlying profit. On Tuesday, U.S. job openings figures are due, ahead of Friday's broader labour market data and the ISM manufacturing survey.

Persons: Damian Rooney, Kazuo Ueda, Goldman Sachs, Ryan Felsman, Jason Xue, Sam Holmes Organizations: Nikkei, Argonaut Securities, HK, Bank of Japan, Tourism Holdings, New, Commonwealth Bank of Australia, Thomson Locations: SINGAPORE, U.S, Asia, Pacific, Japan, Hong Kong, China, Perth, New Zealand, Sydney, Shanghai

☆ Morning Bid: Strikes, system failures and a slowdown
▼ + stars: | 2023-08-29 | by ( ) www.reuters.com time to read: +3 min

The German share price index DAX graph is pictured at the stock exchange in Frankfurt, Germany, August 2, 2023. Workers at Toyota plants in Japan were idle, meanwhile, as a systems malfunction crippling component orders brought output to a standstill for the world's top automaker. That comes on the heels of tech woes at British air control on Monday that disrupted flights. FTSE futures suggest a positive return from a day's holiday in London, while U.S. and European futures were flat. Hong Kong's Hang Seng (.HSI) was up 2% by mid-session and mainland blue chips (.CSI300) were up 1.5%.

Persons: Tom Westbrook, Gina Raimondo, it's, Hewlett Packard, Sam Holmes Organizations: REUTERS, Staff, Workers, Chevron, Toyota, Japan's Nikkei, U.S . Commerce, Tourism Holdings, Reuters, Thomson Locations: Frankfurt, Germany, Australia, Japan, Asia, London, Beijing

☆ Japan regulator to monitor potential BOJ impact on regional banks
▼ + stars: | 2023-08-29 | by ( Makiko Yamazaki | ) www.reuters.com time to read: +1 min

[1/2] A man walks at the headquarters of Bank of Japan in Tokyo, Japan, January 18, 2023. The Financial Services Agency (FSA) "will monitor how potential changes in the financial markets and client situations will affect regional banks' profits and health," the regulator said in its annual policy outlook released on Tuesday. Large banks have shortened the duration of their bond portfolios in anticipation of higher yields, but analysts say some smaller, regional banks do not have such flexibility. The FSA said in the policy outlook that it would "encourage regional banks to take necessary steps ahead of time" to address potential changes in the financial and economic situations. The policy outlook, set yearly, lays out guidelines for the FSA's supervision and direction of banks and other financial firms.

Persons: Issei Kato, Makiko Yamazaki, Sam Holmes Organizations: Bank of Japan, REUTERS, Rights, Financial Services Agency, Thomson Locations: Tokyo, Japan

☆ Japan at 'inflection point' in 25-year battle with deflation, government says
▼ + stars: | 2023-08-29 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

REUTERS/Yuya Shino Acquire Licensing RightsTOKYO, Aug 29 (Reuters) - Japan may be at an inflection point in its 25-year battle with deflation as price and wage rises show signs of broadening, the government said on Tuesday, signalling its conviction the economy was nearing an end to prolonged stagnation. "Japan has seen price and wage rises broaden since the spring of 2022. Such changes suggest the economy is reaching a turning point in its 25-year battle with deflation," the government said in its annual economic white paper. Companies this year offered their highest pay in three decades, heightening the case for a retreat from decades of ultra-loose monetary policy. Since declaring Japan in a state of deflation in 2001, the government has made ending price falls among its top policy priorities.

Persons: Yuya, Leika, Sam Holmes Organizations: REUTERS, Rights, Bank of Japan, Companies, Thomson Locations: Tokyo, Japan

An electronic board shows Shanghai and Shenzhen stock indexes, at the Lujiazui financial district in Shanghai, China October 25, 2022. "It's pretty weak," said Sat Duhra, a portfolio manager at Janus Henderson who devises a macro score for countries by tracking seven factors including PMI surveys, real exchange rates, current accounts, growth estimates and liquidity. Even in Japan, the stock market success story of the year so far, portfolio manager Zuhair Khan at UBP Investments says he's shorting or avoiding companies reliant on China sales. However, I think more importantly, it has fallen short of initial expectations," said Jagdeep Ghuman, a portfolio manager for U.S. asset manager Nuveen. Reporting by Tom Westbrook and Rae Wee in Singapore, Dhara Ranasinghe in London and Summer Zhen and Xie Yu in Hong Kong.

Persons: Aly, Janus Henderson, Seema Shah, Zuhair Khan, Prashant Bhayani, it's, Jagdeep Ghuman, Nuveen, Tom Westbrook, Rae Wee, Dhara, Zhen, Xie Yu, Sam Holmes Organizations: REUTERS, Rights, BHP, PMI, Global Investors, UBP Investments, Vegas Sands, Wealth Management, U.S, Thomson Locations: Shanghai, Shenzhen, China, Rights SINGAPORE, London, Bangkok, Zealand, Europe, Thailand, Asia, Japan, Singapore, Hong Kong

☆ How to Live a Happy Life, From a Leading Atheist
▼ + stars: | 2023-08-27 | by ( David Marchese | ) www.nytimes.com time to read: +4 min

“I want people to see what a meaningful, happy life I’ve had with these beliefs,” says Dennett, who is 81. They’ve got trillions of motor proteins, and motor proteins are not alive. Motor proteins aren’t alive. Life couldn’t exist without these little molecular machines — by the trillions — that are working in your body right now. Human life and human consciousness are made possible by these incredibly brilliant consortia of little robots.

Persons: Daniel C, Dennett, Christopher Hitchens, Richard Dawkins, Sam Harris, “, ” Dennett, I’ve, ”, ” Daniel C, Beata Zawrzel, It’s, They’ve, She’s, That’s, Susan, David Marchese, Emma Chamberlain, Walter Mosley Organizations: Tufts University, Getty, Congregational Church, United Church of Christ, YouTube, Cal Newport Locations: Poland, what’s, America

Many economists have called on China to boost its social safety net to rebalance the economy. Yao was unswayed and would prefer consumer vouchers, which some local governments in China have issued, but in amounts too small to matter at a macro level. Local governments, while cash poor, are asset rich. Michael Pettis, senior fellow at Carnegie China, estimates that if Beijing forces local governments to transfer 1-1.5% of GDP to households, China could maintain current growth. "One of the really big conflicts is likely to be between Beijing and the local governments over how to allocate the various adjustment costs.

Persons: Erin Yao, Juan Orts, Orts, Tokyo's, Yao, joblessness, Jens Eskelund, Wang Jiliu, Wang, Michael Pettis, Laurie Chen, Kripa Jayaram, Marius Zaharia, Sam Holmes Organizations: Fathom Consulting, Communist Party, Reuters Graphics, European Chamber of Commerce, Carnegie China, Thomson Locations: BEIJING, HONG KONG, China, Beijing, United States, Hainan

☆ South Korea's Naver launches generative AI services
▼ + stars: | 2023-08-24 | by ( Ju-Min Park | ) www.reuters.com time to read: +2 min

Naver said its AI product, named HyperCLOVA X, will provide generative AI-driven searches for users as well as new customised services for enterprise clients. Naver has said it is jointly developing with Samsung Electronics (005930.KS) new chip solutions that will be smaller and more efficient to support its AI technology development. The company plans to open a new data centre for the HyperCLOVA X services in November, Naver said on Thursday. "We are ready to face a new transformation called generative AI," Naver Chief Executive Choi Soo-yeon said. Choi said the company was in talks with global partners about its new AI services' overseas expansion but it was not ready to identify those partners.

Persons: Heo, OpenAI's ChatGPT, Naver, HyperCLOVA, Choi Soo, Choi, Miyoung Kim, Sam Holmes Organizations: REUTERS, Rights, Samsung Electronics, Microsoft, Google, U.S, Thomson Locations: Seongnam, South Korea, Rights SEOUL, Seoul, Japan, Southeast Asia

☆ Asian shares sit tight ahead of Nvidia results, yields near highs
▼ + stars: | 2023-08-23 | by ( Stella Qiu | ) www.reuters.com time to read: +4 min

S&P 500 futures climbed 0.3% while Nasdaq futures rose 0.4%. Its blockbuster report last quarter fueled a rally in tech stocks and artificial intelligence hopes, propelling the S&P 500 this year. Shares of Nvidia hit an all-time high of $481.87 overnight, with options data showing traders are expecting a larger-than-usual swing in shares after the quarterly results. The Dow Jones (.DJI) fell 0.5%, the S&P 500 (.SPX) lost 0.3% and the Nasdaq Composite (.IXIC) added 0.1%. Financial shares underperformed, with the S&P 500 banks (.SPXBK) sliding 2.4%, after S&P joined Moody's to downgrade multiple regional U.S. lenders.

Persons: Issei Kato, Powell's Jackson, Nvidia NVDA.O, Stuart Humphrey, Humphrey, Dow Jones, Moody's, Treasuries, Thomas Barkin, Jerome Powell, Sam Holmes Organizations: REUTERS, Markets, Nvidia, SYDNEY, Nasdaq, Japan's Nikkei, JPMorgan, Financial, Richmond Fed, U.S ., Brent, . West Texas, Thomson Locations: Tokyo, Japan, Asia, Pacific, United States, U.S, China, Jackson Hole , Wyoming

☆ MLB roundup: M's down White Sox for 8th straight win
▼ + stars: | 2023-08-23 | by ( ) www.reuters.com time to read: +8 min

Yoan Moncada and Vaughn each had two hits as the White Sox lost for the eighth time in 10 games. Brian Anderson's two-run single capped the uprising. Willy Adames hit a two-run homer for the Brewers, who got two innings of scoreless relief from Bryse Wilson (5-0). The Red Sox started 0-for-9 with runners in scoring position before Justin Turner stroked a two-run single in the ninth off Astros reliever Rafael Montero. Will Smith hit a two-run homer for Los Angeles, which lost for just the third time in 20 games this month.

Persons: Josh Rojas, Matt Marton, Mike Ford, Teoscar Hernandez, Justin Topa, Andres Munoz, Andrew Vaughn's, J.P, Crawford, Rojas, Yoan Moncada, Vaughn, CJ Abrams, Abrams, Tommy Kahnle, Carter Kieboom, Mason Thompson, Kyle Finnegan, Ben Rortvedt, Bailey Ober, Dylan Floro, Brian Anderson's, Willy Adames, Bryse Wilson, Christian Vazquez, Kyle Farmer, Eddie Rosario, Bryce Elder, Rosario, Marcell Ozuna, Atlanta's, Elder, Tylor, Justin Verlander, Kyle Tucker, Jon Singleton's, Justin Turner, Rafael Montero, Boston's Adam Duvall, Brandon Belt, Bo Bichette, Mike Baumann, Vladimir Guerrero Jr, Varsho, Adley Rutschman, Jordan Westburg, Ryan Mountcastle, Cleveland, Bobby Miller, Caleb Ferguson, Will Brennan, Andres Gimenez, Myles Straw, Oscar Gonzalez, Cleveland's Sam Hentges, Trevor Stephan, Emmanuel Clase, Noah Syndergaard, Will Smith, Andy Ibanez, Kerry Carpenter, Parker Meadows, Tyler Holton, Alex Lange, Dansby Swanson, Jeimer Candelario, Reese Olson, Drew Smyly, Trea Turner, Taijuan Walker, Turner, Craig Kimbrel, Kyle Harrison, Camilo Doval, Yandy Diaz, Osleivis Basabe slugged, Diaz, Randy Arozarena, Andrew Kittredge, Michael Toglia slugged, Elias Diaz, Brent Suter, Andrew McCutchen, Bryan Reynolds, Louis, Connor Joe, Johan Oviedo, David Bednar, Richie Palacios, Willson Conteras, Alec Burleson, Adam Wainwright Organizations: Seattle Mariners, Chicago White Sox, Seattle, Chicago, Mariners, Ford, White Sox, Nationals, Yankees, Washington, Brewers, Twins, Milwaukee bunched, Milwaukee, Braves, Mets, Atlanta, New, Astros, Red Sox, Houston, Boston, Jays, Orioles, Toronto, Baltimore, Dodgers, Los Angeles, Los, Tigers, Cubs, Detroit, Phillies, Giants, Philadelphia, Francisco, Rays, Rockies, League, Colorado, Pirates, Cardinals, Pittsburgh, Thomson Locations: Chicago , Illinois, USA, Seattle, New York, Minnesota, York, Baltimore, Cleveland, Los, Los Angeles, Parker, San Francisco, Philadelphia, Tampa, St . Petersburg, Fla, St

☆ Westpac flags higher expenses in quarterly update; shares drop
▼ + stars: | 2023-08-21 | by ( Archishma Iyer | ) www.reuters.com time to read: +2 min

Shares of Sydney-based Westpac fell about 2.1% to trade at A$20.82 at 0040 GMT, hitting their lowest since July 12. Broadly, Australia's major banks have all flagged stiff competition in the mortgage space, along with higher expenses as inflationary pressures weigh. The higher interest rates have also contributed to increased living costs, which are pushing up debt arrears. Westpac did not publish a comparable quarterly net profit figure for the same period a year earlier. The figure reported on Monday was below the A$2 billion average profit for the first two quarters of fiscal 2023.

Persons: David Gray, Riya Sharma, Archishma Iyer, Sam Holmes, Christopher Cushing Organizations: Australia's Westpac Banking Corp, REUTERS, Westpac Banking Corp, Sydney, Westpac, Citi, Commonwealth Bank of Australia, Australia Bank, Thomson Locations: Sydney, Australia

☆ China surprises with modest rate cut amid growing yuan risks
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +4 min

The one-year loan prime rate (LPR) was lowered by 10 basis points to 3.45% from 3.55% previously, while the five-year LPR was left at 4.20%. The 10 bp cut in the one-year rate was smaller than the 15 bp cut expected by most poll respondents. Most new and outstanding loans in China are based on the one-year LPR, while the five-year rate influences the pricing of mortgages. The reduction in the one-year LPR came after the People's Bank of China (PBOC) unexpectedly lowered its medium-term policy rate last week. Cheung added that the unexpected rate outcome should be "negative to China growth outlook and the yuan exchange rate".

Persons: Tingshu Wang, LPR, Masayuki Kichikawa, Ken Cheung, Cheung, Winni Zhou, Tom Westbrook, Kevin Buckland, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Sumitomo Mitsui DS Asset Management, Mizuho Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, Shanghai

Search resuls for: "Sam H"

25 mentions found