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☆ Dollar beaten to over two-month low as Fed cut bets take charge
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. Against the weaker greenback, the euro hit its highest since August at $1.09365, while the yen firmed at a one-month high of 148.68 per dollar. The Japanese yen remained on the stronger side of 150 per dollar and was last 0.3% higher at 149.17. The onshore yuan rose 0.5% to an over three-month high of 7.1700 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1703 per dollar. The Aussie was last 0.5% higher at $0.6546, having struck a three-month high of $0.6563 earlier in the session, while the kiwi gained 0.54% to $0.6025.

Persons: Dado Ruvic, Carol Kong, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, New Zealand, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, Thomson Locations: Rights SINGAPORE, Asia, China

☆ Dollar stumbles to over two-month low as markets eye Fed cuts
▼ + stars: | 2023-11-20 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

The yuan struck three-month highs in both the onshore and offshore markets, propped up by China's central bank, while the Australian dollar similarly scaled a three-month top against the falling greenback. "If we do see risk appetite improve again, then the dollar can definitely weaken further." Against the weaker dollar, the euro rose to an over two-month high of $1.0924, ahead of flash PMI readings in the euro zone due later this week. The risk-sensitive Australian dollar edged roughly 0.5% higher to $0.6546, its strongest level since August, while the New Zealand dollar rose 0.52% to $0.60235. The onshore yuan rose 0.5% to an over three-month high of 7.1753 per dollar, while the offshore yuan similarly got a boost and jumped roughly 0.6% to an over three-month top of 7.1745 per dollar.

Persons: Dado Ruvic, Carol Kong, Sterling, Vishnu Varathan, CBA's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Fed, Commonwealth Bank of Australia, Treasury, ., Mizuho Bank, New Zealand, Thomson Locations: Rights SINGAPORE, Asia, China

☆ China keeps lending benchmark rates unchanged, as expected
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +3 min

Paramilitary police officers stand guard in front of the headquarters of the People's Bank of China, the central bank (PBOC), in Beijing, China September 30, 2022. The one-year loan prime rate (LPR) was kept at 3.45% and the five-year LPR was unchanged at 4.20%. 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 steady fixings came after the central bank kept its medium-term interbank liquidity rate unchanged last week. The LPR, which banks normally charge their best clients, is set by 18 designated commercial banks who submit proposed rates to the central bank every month.

Persons: Tingshu Wang, Julian Evans, Pritchard, Winni Zhou, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, Capital Economics, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States, outflows

☆ NFL roundup: Lions storm back in fourth, stun Bears
▼ + stars: | 2023-11-20 | by ( ) www.reuters.com time to read: +10 min

Jared Goff, who threw a season-high three interceptions, engineered two fourth-quarter scoring drives and finished with 236 yards passing and two touchdowns for Detroit (8-2). Wilson completed 27 of 35 passes for 259 yards in the Broncos' fourth consecutive victory. Joshua Dobbs completed 20 of 32 passes for 221 yards, one touchdown and one interception for Minnesota (6-5). Giants 31, Commanders 19Tommy DeVito threw three touchdown passes and the New York defense forced six turnovers in a victory over Washington in Landover, Md. Bills 32, Jets 6Josh Allen threw three touchdown passes and Buffalo avenged a Week 1 loss to New York with a victory in Orchard Park.

Persons: David Montgomery, David Reginek, Jared Goff, Justin Fields, DJ Moore, Goff, Jameson Williams, Sam LaPorta, Aidan Hutchinson, Fields, Russell Wilson lobbed, Courtland, Sutton, Wilson, Joshua Dobbs, Dobbs, Dorian Thompson, Robinson, Dustin Hopkins, Pittsburgh . Thompson, Deshaun Watson, Jaylen Warren, Warren, Kenny Pickett, Dak Prescott, Tony Pollard, Prescott, Carolina's, DaRon Bland, Bryce Young, Young, Jordan Love, Love, Christian Watson, Love's, Jayden Reed, Aaron Jones, Emanuel Wilson, Justin Herbert, Keenan Allen, Joey Bosa hobbled, C.J . Stroud, Stroud, Tank Dell, Devin Singletary, Murray, Trevor Lawrence, Calvin Ridley, Will Levis, Tua Tagovailoa, Jalen Ramsey, Tyreek Hill, Hill, Tagovailoa, Aidan O'Connell, Davante Adams, Antonio Pierce, Tommy DeVito, Isaiah Simmons, Sam Howell, Howell, Saquon Barkley, DeVito, Brock Purdy, Brandon Aiyuk, Purdy, Christian McCaffrey, George Kittle, Tampa Bay's Baker Mayfield, Mike Evans, White, Josh Allen, Joe Brady, Ken Dorsey, Allen, Zach Wilson, Tim Boyle, Boyle, Lucas Havrisik, Geno Smith, Jason Myers, Kenneth Walker III, Cooper, Smith, Matthew Stafford, Royce Freeman Organizations: Detroit Lions, Chicago Bears, Ford Field, Bears, Detroit, Chicago, Broncos, Vikings, Courtland Sutton, Denver, Minnesota, Browns, Steelers, Pittsburgh, UCLA, Cleveland, Cowboys, Panthers, Dallas, Carolina, Packers, Chargers, Los, Green, Texans, Cardinals, Houston, Arizona, Jaguars, Titans, Jacksonville, Tennessee, Dolphins, Raiders, Miami, Las Vegas, Miami Gardens, NFL, Las, Giants, New, Washington, 49ers, Buccaneers, Tampa, Bills, Jets, Buffalo, AFC East, Miami . New, Rams, Seahawks, Seattle, Thomson Locations: Detroit , Michigan, USA, Montgomery, Cleveland, Charlotte, N.C, Green, Los Angeles, Angeles, Miami, Fla, Tyreek, Las Vegas, New York, Landover, Md, DeVito, Francisco, Tampa Bay, Santa Clara, Calif, Tampa, Orchard Park, Miami . New York, Inglewood , Calif

"Given the fast-changing landscape, I believe those who move fast (with wage hikes) should become competitive." A demand made this year by Rengo, Japan's largest trade union confederation, for pay hikes of "around 5%" resulted in average wage hikes of 3.58% among major companies. Six out of 10 economists in a Reuters poll expect major firms' pay hikes in 2024 to exceed this year's. The key, however, would be whether wage hikes broaden to smaller firms and those in the regional areas. A report by the BOJ's regional branch managers in October warned wage hikes remained uneven among sectors with many firms undecided on next year's pay increments.

Persons: Kim Kyung, Takeshi Niinami, Fumio, Kazuo Ueda, Hisashi Yamada, Rengo, Atsushi Takeda, Kishida, Keita Kondo, Tetsushi Kajimoto, Kentaro Sugiyama, Sam Holmes, Leika Organizations: REUTERS, Rights, Suntory Holdings Ltd, Reuters, Meiji, Life Insurance, Suntory Holdings, Bank, Japan, Hosei University, OECD, UA Zensen, Itochu Economic Research Institute, Thomson Locations: Tokyo, Japan, Ukraine, Saitama

☆ OpenAI: Why Sam Altman was fired and what’s next after the shocking shakeup
▼ + stars: | 2023-11-18 | by ( Brian Fung | ) edition.cnn.com time to read: +5 min

On Thursday evening, Altman received a text message from Ilya Sutskever, another co-founder of OpenAI and its chief scientist, Brockman said. “Sam joined a Google Meet and the whole board, except Greg, was there,” Brockman said, referring to himself. Around the same time, OpenAI published a blog post.”According to Swisher, Altman did not learn about the subject of the meeting until 30 minutes before. “Greater things coming soon.”CNN has reached out to OpenAI for comment on Brockman and Swisher’s accounts of how the events transpired. An interim CEOIn announcing Altman’s firing, OpenAI said chief technology officer Mira Murati will serve as interim CEO.

Persons: Sam Altman, Greg Brockman, Altman, Kara Swisher, Ilya Sutskever, Brockman, “ Sam, Greg, ” Brockman, “ Ilya, Sam, ”, Ilya, OpenAI, Swisher, “, what’s, Mira Murati, Murati, ” Murati Organizations: CNN, Twitter, OpenAI, Google, “, Microsoft, Bing, ”, ” CNN, Dartmouth Locations: OpenAI

☆ 3 senior OpenAI researchers resign in the wake of Sam Altman's shock dismissal as CEO, report says
▼ + stars: | 2023-11-18 | by ( Polly Thompson | ) www.businessinsider.com time to read: +4 min

Sam Altman was fired from OpenAI in a shock move on Friday. AdvertisementThree senior researchers have quit from artificial intelligence firm OpenAI following the dismissal of its CEO Sam Altman, The Information reported, citing multiple people familiar with the situation. Ilya told Sam he was being fired and that the news was going out very soon," he wrote. AdvertisementOpenAI chief scientist Ilya Sutskever speaks alongside the company's CEO Sam Altman. Under Altman's tenure, OpenAI launched the pioneering AI chatbot ChatGPT and secured $10 billion in investment from Microsoft.

Persons: Sam Altman, —, Altman, OpenAI, Jakub Pachocki, Aleksander Madry, Szymon Sidor, Pachocki, Greg Brockman, Brockman, Ilya Sutskever, Sam, Ilya, Greg, Sutskever, JACK GUEZ, chatbot ChatGPT Organizations: Service, Google, OpenAI, Microsoft Locations: OpenAI

"Investors had hoped to receive separate shares of the cloud business in hopes the segment could achieve a higher multiple in the public markets due to its growth potential." The company then appointed Eddie Wu, one of Alibaba Group's co-founders and long-time lieutenant of former chief Jack Ma, as both CEO of Alibaba and the cloud business. Instead the group would focus on growing the cloud business and providing investment for its AI drivers, he said. [1/2]3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. Alibaba International Digital Commerce, a business that includes platforms such as Lazada and AliExpress, however reported a 53% rise in revenues, with retail revenue up 73% year-on-year.

Persons: Cainiao, Thomas Hayes, Alibaba's, Daniel Zhang, Eddie Wu, Alibaba Group's, Jack Ma, Zhang, Joseph Tsai, Tsai, Wu, Dado Ruvic, Alibaba, Akash Sriram, Brenda Goh, Sam Holmes, Arun Koyyur, Jane Merriman Organizations: Alibaba, HK, Tencent Holdings, Alibaba's, Investors, Analysts, Cloud Intelligence Group, REUTERS, Alibaba Group Holdings, PDD Holdings, Digital Commerce, Casey Hall, Thomson Locations: U.S, China, Hong Kong, Alibaba's U.S, Bengaluru, Shanghai

☆ Asia stocks hang onto weekly gains as yields, oil fall
▼ + stars: | 2023-11-17 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

The market is pricing in 98 basis points of cuts next year, compared with 73 basis points a week ago. "We forecast the policy rate to drop 100 basis points in 2H24 to end the year at 4.5%, before settling on hold at 3.5% by 1Q25." Treasury investors were looking to price in a little of that right now with yields on two-year treasuries down a whopping 21 basis points for the week at 4.85%. Ten-year note yields stood at 4.44%, having fallen 18 basis points for the week so far, a rousing rally from the 5.02% high hit just a month ago. It fared better against commodity-linked currencies such as the Canadian dollar , which were hampered by the slide in oil.

Persons: Brent, Xi Jinping, Joe Biden, Fumio Kishida, Xi, Wayne Cole, Sam Holmes Organizations: SYDNEY, Dealers, Walmart, Equity, Nasdaq, Japan's Nikkei, Bank of Japan, Japanese, APEC, Federal Reserve, JPMorgan, 1Q25, Treasury, Fed, Thomson Locations: Asia, Japan, Pacific, U.S, United States, China, 2H24

☆ China expected to keep key lending rates unchanged next week
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

A man wearing a mask walks past the headquarters of the People's Bank of China, the central bank, in Beijing, China, February 3, 2020. In a poll of 26 market watchers, all participants predicted both the one-year LPR and the five-year tenor would stay unchanged. "The changes in LPR are more affected by the MLF rate," Zhou said, expecting the LPR to stay unchanged this month. The PBOC on Wednesday injected 1.45 trillion yuan ($200.12 billion) worth of one-year MLF loans into the banking system but kept the rates on those loans unchanged. Expectations of steady LPR fixings also come as new bank lending in China fell less than expected in October from the previous month.

Persons: Jason Lee, Zhou Maohua, Zhou, Winni Zhou, Wu Fang, Tom Westbrook, Sam Holmes Organizations: People's Bank of China, REUTERS, Rights, China Everbright Bank, Thomson Locations: Beijing, China, Rights SHANGHAI, SINGAPORE, United States, outflows, Shanghai, Singapore

2 pick in the 2016 amateur draft, was dropped by Cincinnati and Gold Glove catcher Jacob Stallings by Miami. A pair of 2019 All-Stars were allowed to go free, designated hitter Daniel Vogelbach by the New York Mets and outfielder Austin Meadows by Detroit. Atlanta jettisoned two more arbitration-eligible players in separate trades with Kansas City, sending right-handers Kyle Wright and Nick Anderson to the Royals. San Francisco reached deals with outfielders Mike Yastrzemski ($7.9 million) and Austin Slater ($4 million), and Baltimore with shortstop Jorge Mateo ($2.7 million), left-hander Keegan Akin ($825,000) and outfielders Sam Hilliard and Ryan McKenna ($800,000 each). Stewart ($1.38 million), Kansas City left-hander Josh Taylor ($1.1 million) and Chicago White Sox right-hander Matt Foster ($750,000).

Persons: Brandon Woodruff, Kyle Lewis, Nick Senzel, Jacob Stallings, Daniel Vogelbach, Austin Meadows, Dakota Hudson, Louis, Matt Bush, Kyle Wright, Nick Anderson, Jackson Kowar, Wright, Anderson, Mike Soroka, Nicky Lopez, Jared Shuster, Riley Gowens, Braden Shewmake, Aaron Bummer, Cleveland, Scott Barlow, Enyel, Enyel De Los Santos, Cal Quantrill, Kody Huff, Ramón Laureano, Peter Bendix, utilityman Vidal Bruján, Calvin Faucher, Erick Lara, Andrew Lindsey, Bendix, Luis Urías, Isaiah Campbell, Woodruff, it’s, Matt Arnold, Laureano, Mike Yastrzemski, Austin Slater, Jorge Mateo, Keegan Akin, Sam Hilliard, Ryan McKenna, Miguel Andujar, Abraham Toro, Jake Cave, Dylan Covey, Garrett Stubbs, Patrick Wisdom, Yency Almonte, Ryan Borucki, D.J, Stewart, Josh Taylor, Matt Foster, Steve Megargee, ___ Organizations: Milwaukee, AL, Cincinnati, New York Mets, Veteran, Kansas City, Royals . Atlanta, Chicago White Sox, Enyel De, The, Miami Marlins, Tampa Bay Rays, Miami, Rays, Seattle, Brewers, San, Chicago Cubs, Los Angeles Dodgers, AP Locations: Arizona, Miami, Detroit, St, Texas, Atlanta, San Diego, Enyel De Los, Colorado, Tampa, Boston, San Francisco, Baltimore, Oakland, Philadelphia, Pittsburgh, Kansas, Milwaukee

☆ BOJ will debate easy-policy exit when inflation nears target -Gov Ueda
▼ + stars: | 2023-11-17 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Bank of Japan (BOJ) Governor Kazuo Ueda attends a news conference after their policy meeting at BOJ headquarters in Tokyo, Japan April 28, 2023. The fate of the central bank's purchases and holdings of exchange-traded funds (ETF) will also be discussed as and when the BOJ considers an exit from ultra-loose policy, he added. "We will consider ending yield curve control and negative interest rates if we can expect inflation to stably and sustainably meet our 2% target," Ueda told a semi-annual testimony to parliament on Friday. "Trend inflation is likely to gradually accelerate toward our 2% inflation target through fiscal 2025. "If achievement of our price target approaches, we will discuss a strategy and guidelines for exiting ultra-loose policy," including the fate of its ETF holdings, Ueda said.

Persons: Kazuo Ueda, Issei Kato, Ueda, Leika, Shri Navaratnam, Sam Holmes Organizations: of Japan, REUTERS, Bank of Japan, Thomson Locations: Tokyo, Japan, TOKYO

☆ China's Alibaba to scrap cloud unit spinoff in response to US chip curbs
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +1 min

[1/2] 3D printed clouds and figurines are seen in front of the Alibaba Cloud service logo in this illustration taken February 8, 2022. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsNov 16 (Reuters) - China's Alibaba Group Holding (9988.HK), said on Thursday it will scrap the spin off of its cloud unit in response to export curbs by the United States on chips used in artificial intelligence applications. Its U.S.-listed shares fell about 5% in premarket trading after it also reported second-quarter revenue in line with market expectations. "The recent expansion of U.S. restrictions on export of advanced computing chips has created uncertainties for the prospects of Cloud Intelligence Group," Alibaba said. The e-commerce giant posted revenue of 224.79 billion yuan ($31.01 billion) in the quarter, compared with analysts' average estimate of 224.32 billion yuan, according to LSEG data.

Persons: Dado Ruvic, Alibaba, Pinduoduo, Eddie Wu, Alibaba Group's, Jack Ma, Daniel Zhang, Akash Sriram, Sam Holmes, Arun Koyyur Organizations: REUTERS, HK, U.S, Cloud Intelligence Group, PDD Holdings, Thomson Locations: United States, Bengaluru

☆ US, Japan and South Korea leaders hold brief meeting at APEC
▼ + stars: | 2023-11-16 | by ( ) www.reuters.com time to read: +2 min

[1/2] Ethan Rosenzweig, Acting Chief of Protocol shakes hands greeting Japan's Prime Minister Fumio Kishida for a welcome reception for Asia-Pacific Economic Cooperation (APEC) leaders in San Francisco, California, U.S., November 15, 2023. The leaders posed for a photograph together before leaving without making remarks at the Asia-Pacific Economic Cooperation (APEC) summit, news agency Yonhap reported. The brief meeting comes three months after the leaders met at Camp David in August for talks. Yoon and Kishida promised to push for deeper cooperation in a separate meeting earlier Friday, Yoon's office said. The pair met on Thursday, a day before they were due to attend a roundtable on technological cooperation at Stanford University.

Persons: Ethan Rosenzweig, Japan's, Fumio Kishida, Loren Elliott, Yoon Suk Yeol, Joe Biden, Yonhap, Camp David, Yoon, Kishida, Yoon's, Biden, Josh Smith, Sam Holmes, Christopher Cushing, Gerry Doyle Organizations: Economic Cooperation, REUTERS, Rights, U.S, Japanese, Camp, Stanford University, Nikkei, Thomson Locations: Asia, San Francisco , California, U.S, Rights SEOUL, San Francisco, United States, Japan, North Korea, South, Seoul

☆ Japan's export growth slows as China, global downturn risks loom
▼ + stars: | 2023-11-16 | by ( Tetsushi Kajimoto | ) www.reuters.com time to read: +3 min

A worker is seen among newly manufactured cars awaiting export at port in Yokohama, Japan, November 15, 2017. Weak exports have complicated Japan's efforts to spur economic growth with sluggish domestic demand also weighing on the post-pandemic recovery. Japan's export growth slowsJapan's economy weakened in July-September, snapping two straight quarters of expansion on soft consumption and exports, data showed on Wednesday. By destination, exports to China, Japan's largest trading partner, fell 4.0% year-on-year in October, posting 11 straight months of declines. The trade balance came to a deficit of 662.5 billion yen ($4.38 billion), versus the median estimate for a 735.7 billion yen deficit.

Persons: Toru Hanai, Atsushi Takeda, Tetsushi Kajimoto, Satoshi Sugiyama, Sam Holmes Organizations: REUTERS, TOKYO, Ministry of Finance, Itochu Economic Research Institute, Thomson Locations: Yokohama, Japan, China, United States, Europe

☆ China's property sales extend declines, weighing on outlook
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +2 min

Property sales by floor area fell 20.33% year-on-year against a 19.77% fall in September, according to Reuters calculations based on data released by the National Bureau of Statistics (NBS). Sales fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023. Property investment fell 16.7% from a year earlier after an 18.7% slide in September, according to Reuters calculations. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September.

Persons: Thomas Peter, Ping, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Authorities, Bloomberg, Reuters, HK, Ping An Insurance, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

"Given the absence of a growth engine, it wouldn't surprise me if the Japanese economy contracted again in the current quarter. The risk of Japan falling into recession cannot be ruled out," said Takeshi Minami, chief economist at Norinchukin Research Institute. "The weak growth and the spectre of slowing inflation could delay the BOJ's exit from negative interest rates," he said. Japan’s economy contracts in the third quarterThe weak reading reflects lacklustre consumption and capital expenditure, dashing policymakers' hopes for a post-pandemic rebound in domestic activity to offset weaker external demand from China and elsewhere. He said better net exports, underpinned by car shipments and tourism, helped lift growth in the second quarter, belying the weakness in domestic demand.

Persons: Androniki, Takeshi Minami, Stefan Angrick, Angrick, Fumio Kishida, Tetsushi Kajimoto, Sam Holmes Organizations: REUTERS, Norinchukin Research, Gross, Moody's, Thomson Locations: Tokyo, Japan, TOKYO, China

☆ Australia wages see record rise in Q3, unlikely to be repeated
▼ + stars: | 2023-11-15 | by ( Wayne Cole | ) www.reuters.com time to read: +3 min

REUTERS/Loren Elliott/File Photo Acquire Licensing RightsSYDNEY, Nov 15 (Reuters) - Australian wages posted the largest increase on record last quarter as a sharp rise in minimum wages benefited millions of workers, while intense competition among employers pushed up many individual pay deals. Annual pay growth picked up to 4.0%, from 3.6%, the fastest since early 2009 and just above market expectations of 3.9%. "Q3 was a perfect storm for wage pressures," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. Much of the spike was due to a mandated 5.75% rise in the minimum wage which covers more than two million workers. Wage growth in the public sector accelerated to a 12-year high of 3.5%, while the private sector saw growth of 4.2% as firms fought to recruit and retain workers.

Persons: Loren Elliott, Sean Langcake, Wayne Cole, Tom Hogue, Sam Holmes Organizations: REUTERS, Rights, Australian Bureau, Statistics, Reserve Bank of Australia, Analysts, Oxford Economics Australia, Thomson Locations: Sydney, Australia

☆ BOJ's hawkish rhetoric signals chance negative rates may end soon
▼ + stars: | 2023-11-15 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

Having watered down YCC at its last policy meeting, the BOJ's next goal is to pull short-term rates out of negative territory early next year, sources have told Reuters. That leaves open the chance of an policy change in January, when the BOJ next reviews its quarterly price forecasts. Most expect an end to both YCC and negative rates. "It's an awfully big upgrade and shows how the BOJ had made estimates that were way too low," said former BOJ top economist Hideo Hayakawa, who expects negative rates to end in April. Even if it ends negative rates, nominal short-term borrowing costs will remain well below levels that neither stimulate nor cool the economy - estimated by analysts to stand somewhere near 2%.

Persons: Issei Kato, Ueda, Kazuo Ueda's, Haruhiko Kuroda, Kuroda, Mari Iwashita, Hideo Hayakawa, Takahide, Leika Kihara, Takahiko Wada, Sam Holmes Organizations: Bank of Japan, REUTERS, Daiwa Securities, Japan Center for Economic Research, Thomson Locations: Tokyo, Japan, TOKYO, U.S

☆ China's Jan-Oct property sales fell 7.8% y/y, investment down 9.3%
▼ + stars: | 2023-11-15 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Thomas Peter/File Photo Acquire Licensing RightsBEIJING, Nov 15 (Reuters) - Property sales by floor area in China fell 7.8% year-on-year in January-October, compared with a 7.5% slide in the first nine months of 2023, suggesting China's property sector is yet to emerge from its slump. Property investment in the first 10 months of 2023 fell 9.3% from a year earlier, after dropping 9.1% in January-September, according to data from the National Bureau of Statistics (NBS) released on Wednesday. New construction starts measured by floor area fell 23.2% year-on-year, after a 23.4% slump in the first nine months. Funds raised by China's property developers were down 13.8% year-on-year after a 13.5% fall in January-September. (This story has been corrected to change sales fall percentage to 7.8%, from 6.8%, in the headline and paragraph 1)Reporting by Liangping Gao, Ella Cao and Ryan Woo; Editing by Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Thomas Peter, Liangping Gao, Ella Cao, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Thomson Locations: Zhengzhou, Henan province, China, Rights BEIJING

☆ Yen's fall toward multi-decade lows keeps markets on intervention watch
▼ + stars: | 2023-11-14 | by ( Rae Wee | ) www.reuters.com time to read: +4 min

Against the dollar, the yen last stood at 151.72 , languishing near a one-year low of 151.92 hit on Monday. A break below last year's trough of 151.94 per dollar would mark a fresh 33-year low for the yen. "I'm inclined to also think that it wasn't a BOJ intervention... It intervened again in October 2022 after the yen plunged to a 32-year low of 151.94. The comments have kept the U.S. dollar bid and against the greenback, the New Zealand dollar fell to an over one-week low of $0.58705.

Persons: Thomas White, Carol Kong, Rodrigo Catril, Jerome Powell, NAB's, Rae Wee, Sam Holmes Organizations: REUTERS, Rights, Bank of Japan's, greenback, Commonwealth Bank of Australia, Bank of, National Australia Bank, NAB, Ministry of Finance, Federal, U.S, New Zealand, Sterling, Reserve Bank of Australia, Thomson Locations: Japan, Rights SINGAPORE, Asia, New York, Bank of Japan, U.S

☆ Australia confident China will lift all trade blocks next month
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +1 min

Flags of Australia and China are displayed in this illustration picture taken May 11, 2023. REUTERS/Florence Lo/Illustration Acquire Licensing RightsSYDNEY, Nov 15 (Reuters) - Australia said on Wednesday China could lift all its remaining trade blocks by next month as relations between the commodity trade partners stabilise and after Prime Minister Anthony Albanese's visit to Beijing earlier this month. China has lifted most trade blocks imposed amid a 2020 diplomatic dispute after Australia called for an inquiry into the origins of COVID-19. "I remain very confident ... that by Christmas all of these trade impediments will be removed," trade minister Don Farrell told ABC Radio from San Francisco, where he is attending Asia-Pacific Economic Cooperation (APEC) meetings. Farrell said he hoped to resolve the issues over lobster and beef, which related to bio-security rules, ahead of a meeting with Chinese counterpart Wang Wentao in San Francisco.

Persons: Florence Lo, Anthony Albanese's, Don Farrell, Farrell, Wang Wentao, Renju Jose, Sam Holmes Organizations: REUTERS, Rights, China, ABC Radio, Economic Cooperation, Thomson Locations: Australia, China, Beijing, San Francisco, Asia, Sydney

☆ Nvidia upgrades flagship chip to handle bigger AI systems
▼ + stars: | 2023-11-13 | by ( Stephen Nellis | ) www.reuters.com time to read: +1 min

The H200, as the chip is called, will overtake Nvidia's current top H100 chip. The primary upgrade is more high-bandwidth memory, one of the costliest parts of the chip that defines how much data it can process quickly. Nvidia dominates the market for AI chips and powers OpenAI's ChatGPT service and many similar generative AI services that respond to queries with human-like writing. The H200 has 141-gigabytes of high-bandwidth memory, up from 80 gigabyte in its previous H100. Nvidia also buys memory from Korea's SK Hynix (000660.KS), which said last month that AI chips are helping to revive sales.

Persons: OpenAI's, Stephen Nellis, Sam Holmes Organizations: Nvidia, Google, Oracle, Nvidia's, Micron Technology, Korea's SK Hynix, Amazon Web Services, Microsoft, Oracle Cloud Infrastructure, Lambda, Thomson Locations: San Francisco

☆ What we know: Son of Hollywood agent Sam Haskell arrested in LA, 3 family members still missing
▼ + stars: | 2023-11-12 | by ( Christina Maxouris | ) edition.cnn.com time to read: +3 min

While identification of the dismembered body part is pending, one police official said it’s believed to be the suspect’s wife, 37-year-old Mei Li Haskell. The children were found and are being cared for by family members, Los Angeles police said. But Los Angeles police Capt. Scot Williams said the torso is assumed to be the suspect’s wife, Mei Li Haskell, the Los Angeles Times reported. Suspect is son of Emmy-winning producerHaskell is the son of Emmy-winning producer and Hollywood agent Sam Haskell, who served as an agent for Kathie Lee Gifford, Whoopi Goldberg, Dolly Parton, George Clooney and others.

Persons: Samuel Haskell, Haskell, it’s, Mei Li Haskell, Li, Wang, Efren Gutierrez, ” Gutierrez, Mei, Scot Williams, Sam Haskell, Kathie Lee Gifford, Whoopi Goldberg, Dolly Parton, George Clooney Organizations: CNN, Los Angeles Police Department, LAPD, KABC, Police, Los, Los Angeles Times, Volkswagen, Nissan Pathfinder Locations: Los Angeles, West, Los

☆ Australian inflation fight to be a drawn-out process, central bank assistant governor says
▼ + stars: | 2023-11-12 | by ( ) www.reuters.com time to read: +2 min

A worker is reflected in a wall of the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, March 1, 2016. Speaking at a UBS conference, Reserve Bank of Australia (RBA) Assistant Governor Marion Kohler said inflation was still expected to decline but not expected to reach the top end of the RBA's 2%-3% target until the end of 2025. Consumer price inflation ran at 5.4% in the third quarter, down from a peak of 7.8% last year but above RBA expectations. As a result, the central bank revised up its forecasts for inflation and economic growth in its quarterly statement on policy released last week. Falling goods prices have led the slowdown in inflation, but domestically generated costs continued to rise, Kohler said.

Persons: David Gray, Marion Kohler, Kohler, Wayne Cole, Sam Holmes Organizations: Reserve Bank of Australia, REUTERS, Rights, UBS, Thomson Locations: Sydney, Australia

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