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☆ Japan will continue to monitor COVID situation in China, govt says
▼ + stars: | 2023-01-30 | by ( ) www.reuters.com time to read: 1 min

[1/3] Passengers of a plane from Dalian in China, head to the coronavirus disease (COVID-19) test area upon their arrival at Narita international airport in Narita, east of Tokyo, Japan January 12, 2023. REUTERS/Kim Kyung-HoonTOKYO, Jan 30 (Reuters) - Japan will continue to monitor the COVID-19 situation in China and deal "flexibly" with border control measures, Chief Cabinet Secretary Hirokazu Matsuno said on Monday. The comment came a day after the Chinese embassy in Japan said it had resumed the issuance of ordinary visas for Japanese citizens travelling to the country. China had stopped issuing visas for Japanese nationals earlier this month after Japan toughened COVID-19 border control rules for travellers coming directly from China. Reporting by Satoshi Sugiyama Editing by Chang-Ran KimOur Standards: The Thomson Reuters Trust Principles.

☆ IMF: BOJ should let long-term yields rise, be ready to raise rates
▼ + stars: | 2023-01-26 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

REUTERS/Kim Kyung-HoonTOKYO, Jan 26 (Reuters) - The Bank of Japan should let government bond yields move more flexibly and be ready to raise short-term interest rates swiftly if "significant" upside risks to inflation materialise, the International Monetary Fund (IMF) said on Thursday. "Given the two-sided risks to inflation, more flexibility in long-term yields would help to avoid abrupt changes later. This would help better manage inflation risks and also help address the side-effects of prolonged easing," the IMF said. EYING THE EXITThe IMF said the BOJ could also consider options such as targeting a shorter-term yield or the pace of its bond buying. The BOJ doubled its allowance band for the 10-year yield in December to 0.5% above or below zero.

It followed a 3.9% rise in December and stayed above the central bank's 2% target for an eighth straight month, data showed on Friday. "These readings point squarely at a further, large increase in inflation at the national level this month," said Darren Tay, Japan economist at Capital Economics. Government measures to lower energy bills will kick in next month and bring inflation down by about 1% point," he said. The BOJ kept monetary policy ultra-loose this month but raised its inflation forecasts in fresh quarterly projections, as companies continued to pass on higher raw material costs to households. Kuroda, whose term will end in April, has stressed the need to keep monetary policy ultra-loose until wages rise more, changing the recent cost-push inflation into inflation driven by robust domestic demand.

☆ IMF urges BOJ to let long-term yields rise, be ready to raise rates
▼ + stars: | 2023-01-26 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

It's more to balance some of the impact on the real economy against the impact on financial markets," IMF Japan Mission Chief Ranil Salgado said on Thursday. "Given the two-sided risks to inflation, more flexibility in long-term yields would help to avoid abrupt changes later. This would help better manage inflation risks and also help address the side-effects of prolonged easing," the IMF said in a statement issued after the policy consultation. EYING THE EXITThe IMF said the BOJ could also consider options such as targeting a shorter-term yield or the pace of its bond buying. The BOJ surprised markets in December by doubling its allowance band for the 10-year yield to 0.5% above or below zero.

☆ I'm the CEO of $560 million food brand Huel. I wear the same thing to work every day and always get 7.5 hours of sleep — here's what my morning routine is like.
▼ + stars: | 2023-01-23 | by ( Lauren Crosmedlicott | ) www.businessinsider.com time to read: +5 min

Huel CEO James McMaster starts his morning with a workout and mutes his notifications while at work. If I'm boxing, I'm not thinking about anything else. I change into my Huel T-shirt and jeans, the outfit I wear each day when I'm working in the office. It's pretty much all I have at the Huel office. I prioritize verbal conversations during the early part of the day and then scan emails toward the end of the day.

"This step will allow us to push down longer-term interest rates, without directly affecting supply and demand of the cash Japanese government bond (JGB) market," Kuroda told a news conference. Following its two-day policy meeting, the BOJ kept intact its yield curve control (YCC) targets, set at -0.1% for short-term interest rates and around 0% for the 10-year yield, by a unanimous vote. Reuters Graphics Reuters GraphicsThe central bank also made no change to its guidance that allows the 10-year bond yield to move 50 basis points either side of its 0% target. "By showing its resolve to use market tools more flexibly, the BOJ wanted to signal to markets it won't make big monetary policy changes under Kuroda." Market attention is already shifting toward monetary policy under Kuroda's successor, who will need to steer an orderly exit from decades of ultra-low rates.

The surprise decision sent the yen skidding against other currencies and bond yields tumbling the most in decades, as investors unwound bets they made anticipating the central bank would overhaul its yield control policy. At a two-day policy meeting, the BOJ kept intact its yield curve control (YCC) targets, set at -0.1% for short-term interest rates and around 0% for the 10-year yield, by a unanimous vote. The central bank also made no change to its guidance that allows the 10-year bond yield to move 50 basis points either side of its 0% target. Underscoring its resolve to keep defending the cap, the BOJ beefed up a key market operation tool to more effectively curb rises in long-term interest rates. "By showing its resolve to use market tools more flexibly, the BOJ wanted to signal to markets it won't make big monetary policy changes under Kuroda."

☆ Disney CEO Bob Iger tells staff to return to the office 4 days a week, saying 'nothing can replace' in-person work
▼ + stars: | 2023-01-10 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Disney staff have been told to return to the office four days a week from March. CEO Bob Iger, who returned to the company in late 2022, announced the policy in a memo to staff. "It is my belief that working together more in-person will benefit the company's creativity, culture, and our employees' careers," Iger told staff. For roughly the past year, most Disney staff have been required to visit the office three days a week, The New York Times reported. Disney is following in the footsteps of other companies who have told staff to return to the office as coronavirus cases largely decline.

Keep funds for home maintenance in a high yield savings account or another liquid savings account. Homeowners who don't have enough for repairs can borrow funds through a home equity loan. We have some tips on how much to budget for home maintenance, where to keep your money, and what to do if you don't have enough money saved up when you need it. You'll also avoid hefty borrowing expenses if you've saved enough for home repairs when you need to make them. There's a faster approval process than with a home equity loan, and your home isn't at risk.

☆ Entrepreneurs, Small Business Owners in US, UK Paying Virtual Assistants $2.50 Per Hour
▼ + stars: | 2023-01-05 | by ( Aimee Pearcy | ) www.businessinsider.com time to read: +12 min

Virtual assistants help small-business owners with tasks like entering data, managing email, answering calls, creating client invoices, handling live chat support, and bolstering social-media engagement. Other virtual assistants aren't as fortunate. Since Jonas launched OnlineJobs.ph in 2009, he said, it has become a leading platform for Filipino virtual assistants, with over 2 million profiles offering services. Paying virtual assistants similar rates, regardless of whether they're also in a Western country, is an obvious solution. "Virtual assistants work with a client constantly.

REUTERS/Kim Hong-JiSEOUL, Jan 3 (Reuters) - South Korea's Hyundai Motor Co (005380.KS) and affiliate Kia Corp (000270.KS) forecast on Tuesday that their combined global sales will jump nearly 10% in 2023, even as last year's sales fell short of target due to supply chain disruptions. The companies sold 6.85 million vehicles in 2022, about 4% less than their combined target of 7.16 million vehicles, largely due to problems including chip and component shortages. They said they would target global sales of 7.52 million vehicles this year. Shares of Hyundai Motor and Kia closed up 1.3% and 1.5% respectively, versus a 0.3% fall in the benchmark market KOSPI (.KS11). In October, Hyundai Motor cut its 2022 global sales target by about 7% to 4.01 million vehicles from 4.32 million vehicles.

☆ Quiet Platforms Pushes Toward Full Next-Day Delivery With New Fulfillment Centers
▼ + stars: | 2022-12-22 | by ( Liz Young | ) www.wsj.com time to read: +3 min

Quiet Platforms, the logistics subsidiary of apparel retailer American Eagle Outfitters Inc., is planning to open warehouses in dozens of markets across the U.S. as it works to offer next-day delivery nationally within three years. The warehouses will serve the retailers using Quiet Platforms’ supply-chain network, which include sports goods retailer Fanatics Inc., shoe brand Steve Madden Ltd. and discount outlet Saks Off Fifth. Shekar Natarajan, president of Quiet Platforms Photo: Brittainy Newman/Associated PressThe company already has nine distribution centers in seven markets, but the new sites will likely include smaller facilities close to population centers and dedicated to specific tasks such as sorting packages or consolidating goods, said Shekar Natarajan, president of Quiet Platforms. He said Quiet Platforms currently delivers about 70% of packages next day and around 38% on the same day. “Everyone in retail says we want to be in the right place at the right time with the right quantities,” Mr. Natarajan said.

☆ Analysis: Kuroda's abrupt policy tweak opens door for bigger shift next year
▼ + stars: | 2022-12-21 | by ( Leika Kihara | ) www.reuters.com time to read: +6 min

Waiting until next year would have forced the BOJ to combat intensifying market speculation of a near-term policy shift, or act when a deep U.S. recession could hit Japan's economy, they say. "When uncertainty is so high over the outlook for U.S. monetary policy, it probably wants to have a free hand on when next to act." POLITICS KEY TRIGGERThe abrupt timing of Tuesday's move also reflects growing political pressure for the BOJ to shift away from a policy narrowly focused on its 2% inflation target, the sources say. Hours before he met Kishida, Kuroda explained in parliament a framework on how the BOJ could exit ultra-easy policy in the future. Another dovish board member, Asahi Noguchi, also said earlier this month it "won't be surprising" for the BOJ to shift monetary policy.

☆ BOJ must eye rate hike, shift to more flexible policy, says ex-deputy governor
▼ + stars: | 2022-12-19 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

Yamaguchi, who is considered a candidate to become next BOJ governor, said Japan is already seeing signs of "home-made" inflation, in which broadening price hikes heighten public perceptions that inflation will keep rising longer-term. If Japan's economy can withstand headwinds from an expected slump in U.S. growth, the BOJ should raise its 10-year bond yield target next year, Yamaguchi said. "One idea could be to raise the 10-year yield target and set an allowance band around it." The BOJ must also ditch a pledge to keep increasing the pace of money printing until inflation "stably exceeds" 2%, Yamaguchi said. The 2013 statement he helped draft commits the BOJ to meet its 2% inflation "at the earliest date possible."

☆ Exclusive: China to allow home quarantine for some infected with COVID
▼ + stars: | 2022-12-01 | by ( Julie Zhu | ) www.reuters.com time to read: +2 min

HONG KONG, Dec 1 (Reuters) - China will allow some people who test positive for COVID-19 to quarantine at home, among supplementary measures to be announced in coming days, two sources with knowledge of the matter told Reuters. Home isolation for the infected would be a significant change in China's quarantine protocols. Earlier this year, entire communities were locked down, sometimes for weeks, after even just one positive case was found. Last month, new and easier quarantine rules required just the lockdown of affected buildings. Vice Premier Sun Chunlan, who oversees China's counter COVID efforts, on Wednesday urged further "optimisation" of testing, treatment and quarantine policies.

NO ARCHIVESBEIJING, Dec 1 (Reuters) - China is softening its tone on the severity of COVID-19 and easing some coronavirus restrictions even as its daily case toll hovers near records, after anger over the world's toughest curbs morphed into protests across the country. Health experts warn of widespread illness and death if COVID is let loose before vaccination is ramped up. read moreWhile the recent change in tone over COVID appears to respond to the public discontent with the strictness of the measures, authorities are in parallel seeking out those who were present at the demonstrations. China Dissent Monitor, run by U.S. government-funded Freedom House, estimated at least 27 demonstrations took place across China from Saturday to Monday. Australia's ASPI think tank estimated 43 protests in 22 cities.

☆ Covid protests escalate in Guangzhou as China lockdown anger boils
▼ + stars: | 2022-11-30 | by ( ) www.nbcnews.com time to read: +6 min

TwitterSocial media posts said the clashes took place on Tuesday night and were caused by a dispute over lockdown curbs. China Dissent Monitor, run by U.S. government-funded Freedom House, estimated at least 27 demonstrations took place across China from Saturday to Monday. In Zhengzhou, the site of a big Foxconn factory making Apple iPhones that has been the scene of worker unrest over Covid, officials announced the “orderly” resumption of businesses, including supermarkets, gyms and restaurants. Data on Wednesday showed China’s manufacturing and services activity for November posting the lowest readings since Shanghai’s two-month lockdown began in April. Chinese stocks were steady, with markets weighing endemic economic weakness against hopes that the public pressure could push China to eventually reopen.

[1/6] Police arrive at a protest against coronavirus disease (COVID-19) restrictions after a vigil for the victims of a fire in Urumqi, as outbreaks of COVID-19 continue, in Beijing, China, November 28, 2022. Social media posts said the clashes took place on Tuesday night and were caused by a dispute over lockdown curbs. In Zhengzhou, the site of a vast Foxconn factory making Apple iPhones that has been the scene of worker unrest over COVID, officials announced the "orderly" resumption of businesses, including supermarkets, gyms and restaurants. White House national security spokesperson John Kirby said on Tuesday that protesters in China should not be physically harmed or intimidated. The head of the International Monetary Fund Kristalina Georgieva flagged a possible downgrade in the fund's economic growth forecasts for China.

☆ BOJ's next move will unwind loose policy, 92% of economists say
▼ + stars: | 2022-11-29 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

Twenty-four of 26 economists in the Nov 15-25 poll said the BOJ's next action, if any, would be "unwinding its ultra-easy monetary policy". Widely known as the policy accord, it requires the central bank to achieve its 2% inflation target "at the earliest date possible." Among those who wanted a revision, seven called for more flexibly judging achievement of the inflation target. One BOJ watcher calling for change wanted a lower inflation target, and another said the BOJ's mandate should be enlarged to include targeting employment or wage rises. On Monday, Prime Minister Fumio Kishida rejected the idea of adding wage growth as a new monetary policy goal.

☆ BOJ's next move will unwind loose policy, 92% of economists say: Reuters Poll
▼ + stars: | 2022-11-29 | by ( Kantaro Komiya | ) www.reuters.com time to read: +4 min

Twenty-four of 26 economists in the Nov 15-25 poll said the BOJ's next action, if any, would be "unwinding its ultra-easy monetary policy". Widely known as the policy accord, it requires the central bank to achieve its 2% inflation target "at the earliest date possible." Among those who wanted a revision, seven called for more flexibly judging achievement of the inflation target. One BOJ watcher calling for change wanted a lower inflation target, and another said the BOJ's mandate should be enlarged to include targeting employment or wage rises. Two economists in the poll said the accord should simply be abolished.

☆ Here are the top 15 companies for job seekers looking for flexibility at work
▼ + stars: | 2022-11-28 | by ( Madison Hoff | ) www.businessinsider.com time to read: +4 min

Flexibility, such as remote work or flexible hours, can be a key benefit workers want in their job. According to a post from FlexJobs, a remote work job site, flexibility has different benefits. "On Indeed, job postings advertising remote work are above where they were prior to the pandemic, albeit their numbers have slightly decreased since their pandemic heights." People don't just want flexibility in terms of remote or hybrid work models but having flexibility in when they work. The following are the 15 companies that made Indeed's ranking of the most flexible companies.

☆ Nimble retailers Costco, TJX to benefit from improving supply chains, Cowen says
▼ + stars: | 2022-11-22 | by ( Paulina Likos | ) www.cnbc.com time to read: +6 min

At the same time, the bank called TJX its "top pick within off-price retail for supply chain margin recovery." The retail industry has been weighed down by a global supply chain crisis in the wake of the Covid-19 pandemic. But with the Federal Reserve aggressively raising interest rates to suppress demand and rein in inflation, supply chain bottlenecks are now beginning to ease. Cowen's take Costco's supply chain this year has been interrupted by port delays, shortages of raw materials and labor costs. On TJX, we agree that supply chain volatility creates opportunities for the off-price retailer, as its business model targets name brands struggling with excess supply.

☆ BOJ's Kuroda lays out framework for future exit from easy policy
▼ + stars: | 2022-11-10 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Kuroda brushed aside the chance of a near-term interest rate hike, stressing that the BOJ must continue to underpin a fragile economic recovery with loose monetary policy. But one major factor of debate will be the pace of increase in the BOJ's short-term policy rate, now set at -0.1%," Kuroda told parliament. "We discussed the need for the government and the BOJ to work closely together, and guide policy flexibly to structurally raise wages," said Kuroda. "It's extremely important for the BOJ to underpin the economy with ultra-loose monetary policy and ensure the necessary environment falls into place for companies to hike wages," Kuroda said. Kuroda said recent "rapid and one-sided" yen declines were undesirable as they make it difficult for firms to set business plans.

☆ Turkish bankers fear regulatory burden will reverse profit boom
▼ + stars: | 2022-11-08 | by ( Ebru Tuncay | ) www.reuters.com time to read: +5 min

Bankers forecast a very tough 2023 and beyond for earnings and lending, several of them told Reuters. Their share of outstanding loans has fallen to 29%, compared to 46% for state lenders that have increased their dominance in recent years. Other bankers said the regulations and rising costs have interfered with basic credit extension and could lead banks to cut operational costs. Authorities "tied the fate of the banking sector to state lenders with the recent regulations. Still, other sources close to the state lenders said these concerns are exaggerated given exporters, the focus of Erdogan's programme, are easily getting credit.

Germany's Volkner Mobil creates custom luxury RVs. The vehicles come fitted with a fully equipped kitchen, a bathroom, a bedroom, and a "garage." The German manufacturer Volkner Mobil, run by married couple Gerhard and Stephanie Volkner, makes custom luxury RVs. So he decided to build one himself, using the chassis of a truck, Stephanie Volkner said in an interview with Insider. The cheapest version Volkner Mobil offers costs 425,000 euros, with most models costing between 1.1 million and 1.8 million euros, which is around $1.07 million to $1.75 million, Volkner said.

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