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☆ BOJ considering raising inflation forecasts to near 2% target -Nikkei
▼ + stars: | 2022-12-31 | by ( Reuters Staff | ) www.reuters.com time to read: +2 min

FILE PHOTO: A man walks past Bank of Japan's headquarters in Tokyo, Japan, June 17, 2022. REUTERS/Kim Kyung-Hoon/(Reuters) -The Bank of Japan (BOJ) is considering raising its inflation forecasts in January to show price growth close to its 2% target in fiscal 2023 and 2024, Nikkei reported on Saturday. Upgrades to the BOJ’s inflation forecast would further fuel such speculation as Governor Haruhiko Kuroda has said the central bank could discuss the exit if achievement of its 2% inflation target in tandem with wage hikes comes into sight. The previous forecasts released in October were around 2.9%, 1.6% and 1.6%, respectively. The BOJ will release the latest quarterly growth and price outlook after its next policy meeting on Jan. 17-18.

☆ Meet the workers who 'acted their wage' at their 'silly little jobs' and made life their 9-to-5 this year
▼ + stars: | 2022-12-31 | by ( Juliana Kaplan | ) www.businessinsider.com time to read: +2 min

Some are quiet quitting, or acting their wage, and others are recontextualizing their jobs. It all speaks to a labor market jolted by the pandemic, and how workers want more of a say. "Quiet quitting," "acting your wage," having a "silly little job," and treating your personal life as a full-time job fascinated Insider readers. Insider has spoken to Americans as they rethink work, grapple with structural barriers to doing better, and push for better. All of their perspectives — from those acting their wage to younger workers shaking up workplace norms – show an appetite for a workplace changed by and for workers.

☆ Bank of Japan may raise inflation forecasts to near 2% target, report says
▼ + stars: | 2022-12-31 | by ( ) www.cnbc.com time to read: +1 min

People walk the popular shopping area of Ueno in Tokyo on December 23, 2022. The Bank of Japan (BOJ) is considering raising its inflation forecasts in January to show price growth close to its 2% target in fiscal 2023 and 2024, Nikkei reported on Saturday. Upgrades to the BOJ's inflation forecast would further fuel such speculation as Governor Haruhiko Kuroda has said the central bank could discuss the exit if achievement of its 2% inflation target in tandem with wage hikes comes into sight. The previous forecasts released in October were around 2.9%, 1.6% and 1.6%, respectively. Japan's core consumer prices excluding fresh food items rose 3.7% in November, the highest since 1981, government data showed last week.

☆ In pictures: Zelenskiy goes to Washington
▼ + stars: | 2022-12-21 | by ( Dave Lucas | ) www.reuters.com time to read: 1 min

A magnitude 6.4 earthquake jolted the extreme northern coast of California before dawn on Tuesday, injuring at least two people, damaging roads, bridges and power lines and leaving tens of thousands of homes and businesses without electricity.

☆ Japan warns of China's COVID situation, cuts view on factory output
▼ + stars: | 2022-12-21 | by ( ) www.reuters.com time to read: +2 min

The economic report from the Cabinet Office comes as Japan, the world's third-largest economy, wrestles with sluggish global growth and high import costs that have weighed on its exports and manufacturing activity. "If China's infection situation impacts on supply chains or trades, it could also impact on Japan's economy as we've seen earlier this year," a Cabinet Office official said. Meanwhile, Tokyo upgraded its view on business sentiment for the first time in a year to say it was showing signs of recovery. In other key economic areas, the Cabinet Office left its view on private consumption unchanged saying it was moderately picking up. The report reiterated that the government expects the Bank of Japan to achieve its 2% price target stably based on the economy, prices and financial situation.

☆ Bank of Japan shocks global markets with bond yield shift
▼ + stars: | 2022-12-20 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

The Bank of Japan on Tuesday shocked global markets by widening the target range for its 10-year government bond yield. Global markets were jolted overnight after the Bank of Japan unexpectedly widened its cap on 10-year Japanese government bond yields , sparking a sell-off in bonds and stocks around the world. The central bank introduced its yield curve control mechanism in September 2016, with the intention of lifting inflation towards its 2% target after a prolonged period of economic stagnation and ultra-low inflation. The YCC change prompted the Japanese yen and bond yields around the world to rise, while stocks in Asia-Pacific tanked. European government bonds also sold off, with Germany's 10-year bund yield adding almost 9 basis points to 2.2840%.

☆ Stocks tumble in Japan as central bank widens yield target range
▼ + stars: | 2022-12-20 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailStocks tumble in Japan as central bank widens yield target rangeGlobal markets were jolted overnight after the Bank of Japan unexpectedly widened its cap on 10-year Japanese government bond yields. CNBC's Steve Liesman joins 'Squawk Box' to report.

☆ North Korea says its new spy satellite hit a major milestone, but it may be 'too crude' to be useful
▼ + stars: | 2022-12-19 | by ( Park Chan-Kyong | South China Morning Post | ) www.businessinsider.com time to read: +6 min

North Korea launched a rocket carrying a test satellite was launched on Sunday. The rocket carrying the test satellite was launched on Sunday to assess its photography and data transmission systems, state media said. North Korea launched Hwasong-17 ICBMs in February and March, claiming they were spy satellite test launches. South Korea, Japan and US authorities on Sunday said they detected a pair of ballistic-missile launches by North Korea from its northwestern Tongchang-ri area, where the North's satellite launch pad is located. North Korean leader Kim Jong Un and his daughter with what North Korean media called a Hwasong-17 ICBM in Pyongyang on November 18.

☆ Germany's half-a-trillion dollar energy bazooka may not be enough
▼ + stars: | 2022-12-15 | by ( Christoph Steitz | ) www.reuters.com time to read: +8 min

Almost half a trillion dollars, and counting, since the Ukraine war jolted it into an energy crisis nine months ago. The money set aside stands at up to 440 billion euros ($465 billion), according to the calculations, which provide the first combined tally of all of Germany's drives aimed at avoiding running out of power and securing new sources of energy. That equates to about 1.5 billion euros a day since Russia invaded Ukraine on Feb. 24. Energy rationing is a risk in the event of a long cold spell this winter, Germany's first in half a century without Russian gas. There's no security in sight either, with the push to build up of two alternatives to Russian fuel - liquefied natural gas (LNG) and renewables - years away from targeted levels.

☆ The Fed's inflation forecast was wrong and Powell shouldn't be trying to water down recession risks, according to RBC
▼ + stars: | 2022-12-15 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

The Fed was wrong again on its inflation forecast on Wednesday, according to RBC. Powell also shouldn't try to water down recession risks, since some Fed officials already see a recession in the cards. "Some of their economic projections are just head-scratchers," Porcelli said in a note on Wednesday, pointing to central bankers' inflation projections for next year. The unexpected revision in inflation projections could be because officials likely submitted their estimates before the release of the November Consumer Price Index report, which saw inflation cool to 7.7%. "He shouldn't try to water down the recession risks.

☆ Analysis: China c.bank to offer limited, targeted growth support, no bazooka
▼ + stars: | 2022-12-01 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

Since 2020, when the world's second-largest economy was first jolted by the coronavirus, the PBOC has expanded its arsenal of structural policy tools, including relending and rediscount facilities and other low-cost loans. "The central bank is likely to expand the scope of structural policy tools and step up the use of such tools," said a person involved in policy discussions who spoke on condition of anonymity. Its outstanding loans made via structural tools amounted to nearly 5.6 trillion yuan ($781.64 billion) at the end of September, central bank data showed. A central bank adviser said last month that China should set a growth target no lower than 5% for next year. On Nov. 21, the central bank kept its benchmark lending rates unchanged for a third straight month.

☆ The Hotel Inside the Bass Pro Shops Inside the Pyramid
▼ + stars: | 2022-11-30 | by ( Dawn Gilbertson | Photographs Whitten Sabbatini For The Wall Street Journal | ) www.wsj.com time to read: 1 min

MEMPHIS, Tenn.—I settled into one of the giant black rocking chairs on the screened-in porch in my room at Big Cypress Lodge a few hours after check in. Rushing waterfalls in the distance soothed me after a day of Thanksgiving travel. Paul Simon’s “50 Ways to Leave Your Lover” provided a chill soundtrack. An overhead announcement jolted me back to reality.

☆ Exclusive: South Korea's Yoon urges attention to any 'financial instability' as money market jolted
▼ + stars: | 2022-11-29 | by ( Soyoung Kim | ) www.reuters.com time to read: +3 min

SEOUL, Nov 29 (Reuters) - South Korea's government and the central bank should pay greater attention to addressing any financial instability, President Yoon Suk-yeol told Reuters, as the money market grapples with a steep selloff amid rising interest rates and a property slump. Yoon's comments come as the BOK last week signalled that it could be nearing the end of an unprecedented streak of policy tightening in Asia’s fourth-largest economy to curb inflation. South Korea's money market, especially at the short-end of the bill curve, has experienced one of the worst routs in Asia as investors sold-off in the wake of rising interest rates and a broader property market downturn. South Korea's household debt-to-GDP ratio stood at 102.2% in the second quarter, the highest level among 35 major economies tracked by the Institute of International Finance. The BOK's monetary policy committee unanimously agreed to hike interest rates by a quarter-percentage point to 3.25% at its Nov. 24 review - taking the benchmark rate to its highest since 2012.

☆ Analysis: Kramaric the bright spot for enigmatic Croatia as Belgium await
▼ + stars: | 2022-11-27 | by ( Philip O'Connor | ) www.reuters.com time to read: +4 min

The Croatians seemed to have no-one who could match the power and agression of the fired-up Canadians, but Kramaric finally shook them from their slumber on the half-hour mark. Inevitably it was Kramaric who got the equaliser, and suddenly, the air went out of the Canadian bubble. Shortly afterwards the 31-year-old striker was substituted, with the job done and Belgium still to come. The bright spot for Croatia is that they scored four goals from their 10 attempts on target. Like Kramaric, it is not in the Croatians nature to play conservatively, but it might yet provide their best chance of getting into the last 16.

☆ After Deadly Indonesia Earthquake, Rescue Workers Search for Survivors
▼ + stars: | 2022-11-22 | by ( Ismira Lutfia Tisnadibrata | ) www.wsj.com time to read: 1 min

A cat being rescued from a damaged home in the Cianjur area of Indonesia’s West Java on Tuesday. Rescue teams continued their search for survivors a day after a 5.6-magnitude earthquake jolted Indonesia’s main island of Java, killing dozens of people, triggering landslides and causing extensive damage to homes. The governor of West Java said late Monday that at least 162 people had died and hundreds more were injured. The death toll was expected to rise, authorities said, as teams expand their area of operations and continue to find bodies under wrecked buildings.

☆ Fact Check-Clip of French president slapped at meet-and-greet was filmed in June 2021, not November 2022
▼ + stars: | 2022-11-21 | by ( Reuters Fact Check | ) www.reuters.com time to read: +3 min

A clip of French President Emmanuel Macron being slapped across the face at a meet-and-greet with members of the public was filmed in June 2021, but users shared the clip in November 2022 with false claims that the president had been slapped again. In June, a court ordered Damien Tarel, the man who slapped Macron on June 8, to serve four months in jail, BFM TV reported at the time (here). The clip was not filmed recently, and instead, shows an angle filmed from the opposite side of a guard railing that separated the French president from members of the public on June 8, 2021. The earliest iteration Reuters found showing the fresh angle of the 2021 incident was uploaded to Twitter on Nov 12 by French lawyer, Juan Branco (archive.ph/LOlJZ). Branco told Reuters that he represents Tarel and confirmed that the clip showed a different angle of the same 2021 incident (here), (here).

[1/2] U.S. President Joe Biden speaks to the media after an alleged Russian missile blast in Poland, in Bali, Indonesia, November 16, 2022. REUTERS/Kevin LamarqueWASHINGTON, Nov 18 (Reuters) - President Joe Biden has been adamant that the United States will back Ukraine in its nine-month fight to repel a Russian invasion. We will determine what happened and what the appropriate next steps would be," said White House spokesperson Adrienne Watson. Sullivan, who has been in touch with Russian officials about the risks around the Ukraine invasion, did not make contact in relation to this incident, a White House official said. "It's now just a matter of doing forensics work to determine what kind of missile it was," the official said.

REUTERS/Brendan McDermid/File PhotoSummarySummary Companies October retail sales rise more than expectedTarget's dull outlook weighs on retailersMicron's supply cut triggers chip selloffIndexes: Dow up 0.05%, S&P down 0.51%, Nasdaq down 1.10%Nov 16 (Reuters) - The S&P 500 and Nasdaq fell on Wednesday as a grim outlook from Target spurred fresh concerns for retailers heading into the crucial holiday season, while Micron's supply cut triggered a selloff in the chip sector. Target Corp (TGT.N) tumbled as much as 17% in early trading as a pullback in consumer spending despite heavy discounting cut its third-quarter profit by half. Despite the sales warning from Target, data showed U.S. retail sales increased more than expected in October, boosted by purchases of motor vehicles and suggesting that consumer spending remained stable. Declining issues outnumbered advancers for a 1.73-to-1 ratio on the NYSE and for a 2.23-to-1 ratio on the Nasdaq. The S&P index recorded three new 52-week highs and two new lows, while the Nasdaq recorded 50 new highs and 104 new lows.

The data showed retail sales rose 1.3% last month led by motor vehicles after remaining flat in September. Economists polled by Reuters had forecast sales accelerating 1%. Among S&P 500 sectors, retail (.SPXRT) and consumer discretionary (.SPLRCD) were down 1.9% and 1.7%, respectively. Declining issues outnumbered advancers for a 2.10-to-1 ratio on the NYSE and for a 2.41-to-1 ratio on the Nasdaq. The S&P index recorded one new 52-week high and two new lows, while the Nasdaq recorded 33 new highs and 56 new lows.

☆ G20 vows to calibrate pace of interest rate hikes, avoid spillovers
▼ + stars: | 2022-11-16 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

The central banks will also be mindful of the need to limit spillovers, the statement added, in a nod to emerging economies' concerns about the potential for huge capital outflows if aggressive U.S. rate hikes continue. The emphasis on the need to fight inflation contrasted with the G20 statement last year, which said central banks must avoid overreacting to transitory rises in inflation. The G20 leaders also called for "temporary and targeted" fiscal spending to low-income households which are particularly vulnerable to rising living costs. Now, policymakers are faced with the dilemma of having to combat inflation with interest rate hikes, without cooling economies that are already facing the risk of recession. "It may not happen everywhere, but several key countries risk sliding into recession," said WTO Director-General Ngozi Okonjo-Iweala.

☆ China keeps key lending rate unchanged as policymakers balance yuan, economic risks
▼ + stars: | 2022-11-15 | by ( ) www.reuters.com time to read: +3 min

"Keeping policy rates stable will help curb widening interest rate differentials between China and the United States and stabilise FX market expectations." With 1 trillion yuan worth of MLF loans set to expire on the same day, the operation resulted in a net 150 billion yuan medium-term cash withdrawal through the instrument. The central bank said the latest operation was aimed at counteracting higher cash demand due to tax payments and keeping "banking system liquidity reasonably ample". Separately, the central bank also injected 172 billion yuan through seven-day reverse repos while keeping borrowing costs unchanged at 2.00%, compared with 2 billion yuan worth of such loans expiring on the same day. The central bank will "continue to maintain ample liquidity, but chances for an interest rate cut are low," he said.

☆ One year after Nasdaq peak, growth stocks have tumbled and crypto has broken — where to from here?
▼ + stars: | 2022-11-12 | by ( Michael Santoli | ) www.cnbc.com time to read: +9 min

The Nasdaq record came just ten days after Bitcoin's apex near $67,000, a moment when total cryptocurrency market value topped $2.8 trillion. Those numbers today are under $17,000 for Bitcoin and the crypto market cap is around $800 billion, down 70%-plus. Just days after the November 2021 Nasdaq high, Federal Reserve Chair Jerome Powell abruptly and publicly shifted his rhetoric on inflation and monetary policy, endorsing a much faster removal of stimulus than previously indicated. In the 18 months leading to the March 2000 Nasdaq peak, the index more than tripled. One year after the March 2000 Nasdaq peak, with the index down some 60%, the Nasdaq 100 still had a forward price/earnings ratio above 50.

☆ Peter Thiel's picks Masters, Vance split key Senate races in Arizona, Ohio after billionaire spent $32 million on 2022 midterms
▼ + stars: | 2022-11-12 | by ( Brian Schwartz | ) www.cnbc.com time to read: +3 min

Peter Thiel, president and founder of Clarium Capital Management LLC, speaks during the Bitcoin 2022 conference in Miami, Florida, on Thursday, April 7, 2022. Billionaire and Republican megadonor Peter Thiel's $32 million investment in the 2022 midterm elections saw mixed results, as two of his former employees split U.S. Senate races that will help to decide control of the chamber. Thiel instead opted to pile more money into Republican Blake Masters' bid to unseat Democratic Sen. Mark Kelly in Arizona. Thiel jolted Masters' Senate bid early on with a $15 million donation to a pro-Masters super PAC during Arizona's primary election, according to Federal Election Commission records. Records show that Thiel contributed similar amounts to Republican Reps. Mike McCaul, Chris Stewart, Michael Waltz, Tom Cole and Mario Diaz-Balart.

☆ US stocks rise as easing China COVID restrictions leave stocks stronger for the week
▼ + stars: | 2022-11-11 | by ( Carla Mozée | ) www.businessinsider.com time to read: +2 min

US stocks advanced on Friday after a seesaw session that was jolted by FTX's bankruptcy filing. The S&P 500 marked its best weekly gain since in June, aided by cooler October inflation. Sign up for our newsletter to get the inside scoop on what traders are talking about — delivered daily to your inbox. After a seesaw session, all three of Wall Street's main indexes pushed higher. Stocks got a lift early after China reduced quarantine requirements for travelers coming into the country who have tested positive for coronavirus.

Czech markets were jolted on Wednesday on news the government could widen its proposed tax on excessive profits to include 2022 earnings, earlier than existing plans applying only to 2023-2025. Stanjura told reporters after the government met that the cabinet still leaned towards putting the windfall tax in place for 2023, calming markets somewhat. A government source had earlier said legal implications for the tax were still being considered. The windfall tax should be imposed on banks with more than 6 billion crowns ($240 million) of net interest income in 2021. A windfall tax would help cover protective measures such as a cap on electricity prices.

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