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SEOUL, Oct 26 (Reuters) - South Korea's economy fared better than expected in the third quarter with the expansion underpinned by exports, backing the case for the central bank to keep rates on hold for the months ahead. Government spending grew 0.1%, and construction investment expanded 2.2% after contracting 0.8% in the second quarter. On an annual basis, Asia's fourth-largest economy grew 1.4% in the third quarter, after a 0.9% gain in the second quarter and beating a 1.1% rise expected by economists. South Korea's central bank held interest rates steady for a sixth straight meeting last week, retaining a tightening bias on monetary policy as it warned of inflationary risks from the Israel-Hamas conflict and global oil prices. In a separate Reuters survey conducted early this month, South Korea's economic growth was forecast to slow to 1.2% in 2023 from 2.6% in 2022.

Persons: Ed Davies, Sam Holmes Organizations: Gross, Bank of, Thomson Locations: SEOUL, Bank of Korea, Korea's, Israel

☆ Morning Bid: China spends, eyes on whether Europe lends
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A China yuan note is seen in this illustration photo May 31, 2017. Microsoft (MSFT.O) and Google parent Alphabet (GOOGL.O) each beat forecasts, but their share prices went in opposite directions as investors zeroed in on cloud computing. On the luxury front Kering (PRTP.PA), owner of Gucci and Balenciaga, reported a bigger-than-expected drop in third-quarter sales. Gucci's revamped look, unveiled last month in Milan by designer Sabato De Sarno, is yet to hit stores. European loans data and a survey of German business conditions will be closely watched later on Wednesday.

Persons: Thomas White, Tom Westbrook, Gucci, Balenciaga, LVMH, Birkin, Gucci's, Sabato De Sarno, Michele Bullock, Sam Holmes Organizations: REUTERS, Giants, Microsoft, Google, Nasdaq, Facebook, . Santander, Deutsche Bank, Dassault, Dassault Systemes, CME Group, Hilton, Boeing, IBM, Meta, Thomson Locations: China, Asia, Milan, Japan

☆ Dollar dips ahead of key US data, bitcoin soars
▼ + stars: | 2023-10-24 | by ( Brigid Riley | ) www.reuters.com time to read: +3 min

REUTERS/Dado Ruvic/Illustration/File photo Acquire Licensing RightsTOKYO, Oct 24 (Reuters) - The dollar softened against a basket of currencies on Tuesday, mirroring a dip in Treasuries yields as investors awaited key U.S. economic data before the Federal Reserve's monetary policy meeting next week. The dollar index last sat around 105.57, having lost over 0.5% in the previous session as U.S. Treasury yields tumbled. Bitcoin returned the market spotlight with the virtual currency soaring on speculation that the United States could soon approve a bitcoin exchange-traded fund. The PMI data could set the market expectations ahead of the GDP report, said Matt Simpson, senior market analyst at City Index. Traders see the 150 threshold as a possible line-in-the-sand for Japanese authorities to intervene in the currency market.

Persons: Dado Ruvic, Jerome Powell, Bitcoin, Matt Simpson, Kyle Rodda, bitcoin, Brigid Riley, Sam Holmes Organizations: REUTERS, Rights, Federal, Treasury, PMI, Fed, European Central Bank, Traders, Capital.com, Thomson Locations: United States

☆ Morning Bid: Bitcoin is back, stocks wobble
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. Treasuries remain in the headlines with yields on 10-year notes briefly hitting 5% on Monday before quickly declining. The Japanese currency was at 149.57 per dollar having touched the symbolic 150 level on Friday and on Monday. Meanwhile, bitcoin prices soared on the back of rising speculation about the possibility of a bitcoin exchange-traded fund. Reuters GraphicsReuters GraphicsKey developments that could influence markets on Tuesday:Economic events: Oct flash PMI for Germany, France, UK and Euro zone; UK August ILO unemployment rateEarnings: Barclays, Puma, Microsoft and Google-parent Alphabet.

Persons: Benoit Tessier, Ankur Banerjee, Treasuries, Sam Holmes Organizations: La Maison du, REUTERS, Ankur, Microsoft, Google, Barclays, ICE, Reuters Graphics Reuters, Puma, Thomson Locations: La, Paris, France, Israel, Europe, Asia, Pacific, Japan, Britain, United States, Germany

The International Energy Agency (IEA) said in its World Energy Outlook 2023 report released on Tuesday that China is reaching an inflection point and its total energy demand is likely to peak around the middle of this decade. But the sheer scale of China's energy demand means that even though it's making vast strides to deploy renewables and electrify its vehicle fleet, it will still be consuming vast quantities of fossil fuels for decades to come. "In our scenarios, China's GDP growth averages just under 4% per year to 2030," the IEA said. "This results in its total energy demand peaking around the middle of this decade, with robust expansion of clean energy putting overall fossil fuel demand and emissions into decline." This means that from a climate change perspective, encouraging and supporting China's energy transition is probably the most meaningful goal that can be achieved.

Persons: it's, It's, Sam Holmes Organizations: International Energy Agency, Energy, IEA, Reuters, Thomson Locations: LAUNCESTON, Australia, China, Europe

☆ China to choose fiscal muscle over big reforms to revive economy
▼ + stars: | 2023-10-24 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

The foundation of economic recovery is not solid," said an adviser to the cabinet who spoke on condition of anonymity. The debate about economic policy in China has heated up in recent months with some government advisers advocating reforms to help unleash new growth engines beyond property and infrastructure investment. For those looking for structural reforms, the focus is on policies that spur urbanisation and household spending power, reduce the reliance on investment and level the playing field between state-owned enterprises and private firms. "Fiscal policy should still play the leading role next year," said Xu Hongcai, deputy director of the economic policy commission at the state-backed China Association of Policy Science. "We should push reforms as many problems are structural, but reforms are difficult to implement and require political will," said one policy insider.

Persons: Xu Hongcai, Xu, Guan Tao, Kevin Yao, Sam Holmes Organizations: Reuters, China Association of Policy, BOC International, State Administration of Foreign Exchange, Communist, Thomson Locations: China, BEIJING, Beijing

☆ Japan's factory, service sector activity under pressure in Oct - PMI
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Toru Hanai/File Photo Acquire Licensing RightsTOKYO, Oct 24 (Reuters) - Japan's factory activity shrank for a fifth straight month in October while the service sector saw its weakest growth this year, a survey showed on Tuesday, amid growing uncertainty over the outlook for the world's third-largest economy. The au Jibun Bank flash Japan manufacturing purchasing managers' index (PMI) remained flat at 48.5 in October. However, the October PMI data indicated further softening in the service sector, which anchored Japanese economy over recent quarters. The au Jibun Bank flash services PMI fell further to 51.1 in October from 53.8 in September last month, marking the slowest rate of growth since the beginning of this year. The au Jibun Bank Flash Japan composite PMI, which combines both manufacturing and service sector activity, fell to 49.9 in October from 52.1 in September, dropping below into contractionary territory for the first time since December.

Persons: Toru Hanai, Jingyi, Satoshi Sugiyama, Sam Holmes Organizations: REUTERS, Rights, PMI, P Global Market Intelligence, Jibun Bank Flash Japan, Thomson Locations: Kawasaki, Japan

☆ Analysis: China to choose fiscal muscle over big reforms to revive economy
▼ + stars: | 2023-10-24 | by ( Kevin Yao | ) www.reuters.com time to read: +5 min

☆ Rising yields may pressure BOJ to consider raising newly set cap
▼ + stars: | 2023-10-23 | by ( Leika Kihara | ) www.reuters.com time to read: +5 min

The BOJ remains a global outlier having maintained ultra-loose monetary stimulus even as major central banks elsewhere rapidly raised interest rates to fight rampant inflation. Meanwhile, rising U.S. bond yields are pulling their Japanese counterparts higher, complicating the BOJ's task of keeping local interest rates low. Among ideas that could be discussed would be to raise the ceiling for the 10-year bond yield beyond 1.0%, or steps that water down the BOJ's commitment to defend a set yield level, the sources said. "If the 10-year JGB yield rises to around 0.9%, the BOJ may need to take action," such as by raising the 1% cap, she added. In a Reuters poll in September, most analysts said they expect the BOJ to abandon YCC by the end of 2024.

Persons: Issei Kato, BOJ, YCC, Kazuo Ueda, Naomi Muguruma, Mitsubishi UFJ, Mitsubishi UFJ Morgan Stanley, Ueda, Leika Kihara, Sam Holmes Organizations: Bank of Japan, REUTERS, Treasury, Nikkei, Mitsubishi, Mitsubishi UFJ Morgan, Mitsubishi UFJ Morgan Stanley Securities, YCC, Thomson Locations: Tokyo, Japan, TOKYO

REUTERS/Jason Lee/File Photo Acquire Licensing RightsSummaryCompanies Property sales, investment fall at double-digit paceProperty slowdown remains drag on economic growthBEIJING, Oct 18 (Reuters) - China's property sales and investment posted double-digit declines as efforts to support big cities failed to bolster confidence in an industry struggling to emerged from crisis, although the pace of contraction slowed. Property investment fell 18.7% from a year earlier after a 19.1% drop in August, according to Reuters calculations. "S&P Global Ratings expects that the low number of construction starts, an inventory overhang in lower-tier cities, and ever-tightening escrow restrictions will keep property sales depressed," S&P's credit analysts said in a note on Monday. Property investment in the first nine months of 2023 fell by 9.1% from a year earlier, after slumping 8.8% in January-August, according to NBS data. Funds raised by China's property developers were down 13.5% year-on-year after a 12.9% slide in January-August.

Persons: Jason Lee, Zhou Hao, Liangping Gao, Ella Cao, Ryan Woo, Christian Schmollinger, Sam Holmes Organizations: REUTERS, National Bureau of Statistics, Country Garden Holdings, HK, Monetary Fund, Property, Thomson Locations: Beijing, China, BEIJING

☆ Asian shares pare losses on China data, Mid East risk lifts oil
▼ + stars: | 2023-10-18 | by ( Wayne Cole | ) www.reuters.com time to read: +4 min

Global bond markets also still nursed heavy losses as strong U.S. retail data argued for a punishingly long stretch of high rates. The outlook for the world economy did take a small turn for the better as China reported annual economic growth of 4.9% in the third quarter, beating forecasts for 4.4%. Retail sales and industrial output for September also surprised on the upside, suggesting activity had been gaining momentum. "A major spike in volatility and a downgrade of the global economic growth outlook is possible." Oil prices swung higher once more, driven by concerns over the Middle East and data showing a fall in crude stocks.

Persons: Issei Kato, Bonds, pare, Joe Biden's, Stocks, scurrying, Jerome Powell, Brent, Wayne Cole, Shri Navaratnam, Sam Holmes Organizations: REUTERS, Nikkei, SYDNEY, CBA, Japan's Nikkei, Nasdaq, Tech, Nvidia, Biden, Netflix, JPMorgan, Atlanta Fed, Federal Reserve, Bank of Japan, ., Thomson Locations: Tokyo, Japan, China, Gaza, Iran, Israel, Asia, Pacific

☆ China's consumer prices stall, factory deflation persists
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Tingshu Wang/File photo Acquire Licensing RightsBEIJING, Oct 13 (Reuters) - China's consumer prices faltered and factory-gate prices shrank slightly faster than expected in September, with both indicators showing persistent deflationary pressures in the world's second-largest economy. "The damage from the property sector slowdown on consumer confidence continues to weigh on household demand." Food prices dropped 3.2% from a year earlier, extending a decline by 1.5 percentage points from August and dragging down the CPI. While signs are emerging that China's economy is stabilising, concerns over the sustainability of the recovery persist. China's property sector has yet to emerge from a deep slump despite a raft of policy support measures.

Persons: Tingshu Wang, Economists, Zhiwei Zhang, Qiaoyi Li, Ellen Zhang, Ryan Woo, Sam Holmes Organizations: REUTERS, Rights, National Bureau of Statistics, Reuters Graphics, CPI, IMF, Central Huijin Investment, Thomson Locations: Beijing, China, Rights BEIJING

A view of the Monetary Authority of Singapore's headquarters in Singapore June 28, 2017. In a move that surprised economists, the Monetary Authority of Singapore (MAS) said it would shift to a quarterly schedule of policy statements in 2024 from semi-annual. The MAS maintained the prevailing rate of appreciation of its currency policy band known as the Singapore dollar nominal effective exchange rate, or S$NEER. As part of the increased frequency of its policy statements, monetary policy will be reviewed in January, April, July and October instead of just April and October. Prior to April, the MAS tightened monetary policy five times in a row, including in two off-cycle moves last year.

Persons: Darren Whiteside, Chua Hak Bin, Chua, Selena Ling, Ling, Xinghui Kok, Kanupriya Kapoor, Martin Petty, Sam Holmes Organizations: Monetary Authority, REUTERS, Rights, Monetary Authority of Singapore, MAS, Singapore, Gross, Reuters, Thomson Locations: Singapore, Rights SINGAPORE

☆ China FX regulator says CBDC features could improve monetary policy
▼ + stars: | 2023-10-13 | by ( ) www.reuters.com time to read: +2 min

China's official app for digital yuan is seen on a mobile phone next to 100-yuan banknotes in this illustration picture taken October 16, 2020. REUTERS/Florence Lo/Illustration/File photo Acquire Licensing RightsSHANGHAI, Oct 13 (Reuters) - A Chinese foreign exchange regulator official said "programmable features" of a central bank digital currency (CBDC) could help enhance the effectiveness of monetary policy tools, state media reported on Friday. China is among a host of countries developing their own CBDCs - digital tokens issued by central banks - although adoption is still in its early stages. Lu said he expected the People's Bank of China (PBOC) could explore the features to adjust rates of CBDC, which could also be used manage the macro economy. Transactions using China's CBDC, the e-CNY, hit 1.8 trillion yuan ($249.33 billion) at end-June.

Persons: Florence Lo, Lu Lei, Lu, Sam Holmes Organizations: REUTERS, Rights, State Administration of Foreign Exchange, Shanghai Securities News, People's Bank of China, Bank of International, Shanghai, Thomson Locations: China

☆ Morning Bid: Inflation test looms for Fed doves
▼ + stars: | 2023-10-12 | by ( Kevin Buckland | ) www.reuters.com time to read: +2 min

For now, the consistent and - for equity investors - very welcome refrain from Fed officials that caution is warranted before further rate rises has drowned out any concerns about data. But just how quickly markets turned at the start of the week shows how quickly they could turn again. Despite the dovish trimmings, the core Fed message remains that rates will rise as far as they have to in order to rein in inflation. Fed regional bank heads Lorie Logan, Susan Collins and Raphael Bostic have the chance to air their views in remarks at separate events today. It's a big day for British data as well, with GDP and industrial production due first thing.

Persons: Kevin Buckland, Lorie Logan, Susan Collins, Raphael Bostic, Huw Pill, Andrew Bailey, BoE, Sam Holmes Organizations: Japan's Nikkei, Hong, Reuters, Bank of England, IMF, Bank, U.S . CPI, Thomson Locations: Asia, Washington, Marrakesh

☆ Dollar hovers near two-week lows ahead of inflation data
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: +3 min

The employee of a currency exchange shop counts U.S. dollar banknotes in Ciudad Juarez, Mexico July 27, 2023. The report comes ahead of the release on Thursday of September's consumer price index data, which is expected to show inflation moderated last month. "On the flip side, an upside surprise will likely encourage markets to reprice higher the chance the Federal Open Market Committee will follow through on its projected 25 basis point hike." Futures markets are pricing in a 26% chance of a 25 basis point hike in the December meeting and a 9% chance of a 25 basis point hike in November meeting, according to the CME FedWatch tool. The Japanese yen strengthened 0.03% to 149.11 per dollar, while sterling was last trading at $1.2311, flat on the day.

Persons: Jose Luis Gonzalez, Ryan Brandham, Carol Kong, Ankur Banerjee, Sam Holmes Organizations: REUTERS, Rights, Federal Reserve, Validus Risk Management, Fed, Commonwealth Bank of Australia, European Central Bank, Thomson Locations: Ciudad Juarez, Mexico, Rights SINGAPORE, U.S, North America, Tokyo, Singapore

☆ Bond yields ease, stocks near flat ahead of Fed minutes
▼ + stars: | 2023-10-11 | by ( Caroline Valetkevitch | ) www.reuters.com time to read: +2 min

[1/3] Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., September 28, 2023. The Fed minutes are due later Wednesday, and investors will assess them for further hints about the economic outlook and where U.S. rates are heading. The pan-European STOXX 600 index (.STOXX) rose 0.15% and MSCI's gauge of stocks across the globe (.MIWD00000PUS) gained 0.19%. Global stocks have edged higher in recent sessions with U.S. bond yields - which underpin borrowing costs around the world - easing as Fed officials have suggested interest rate hikes may be over for now. U.S. crude fell 2.68% to $83.67 per barrel and Brent was at $85.73, down 2.19% on the day.

Persons: Brendan McDermid, Edward Moya, Brent, Herbert Lash, Harry Robertson, Tom Westbrook, Sam Holmes, Alex Richardson, Deepa Babington Organizations: New York Stock Exchange, REUTERS, Companies, Treasury, Reserve, Palestinian, Dow Jones, Nasdaq, Thomson Locations: New York City, U.S, Israel, Gaza, New York, London, Singapore

REUTERS/Staff/File Photo Acquire Licensing RightsSummaryCompanies Global stocks tick up; U.S. futures riseBond yields tumble again but remain highOil prices steady after rising on Israel-Hamas warLONDON/SINGAPORE, Oct 11 (Reuters) - Global stocks edged higher on Wednesday while bond yields dropped again as investors waited for minutes from the latest Federal Reserve meeting and U.S. inflation figures. Meanwhile, oil prices were little changed as traders kept an eye on the conflict between Palestinian militants and Israel. The MSCI All World stock index (.MIWD00000PUS) was last up 0.21% on Wednesday, after rising 1% in the previous session. Futures for the S&P 500 were up 0.26% after the stock index (.SPX) climbed 0.52% on Tuesday. Global stocks, which had been on the slide since early August, have rallied for the last few sessions.

Persons: Dow Jones, I'm, Florian Ielpo, Arthur van Slooten, Raphael Bostic, Harry Robertson, Tom Westbrook, Sam Holmes, Alex Richardson Organizations: REUTERS, Staff, LONDON, Reserve, Nasdaq, Dow, Lombard, Global, Investors, Treasury, Societe Generale, Atlanta Fed, Bloomberg, Thomson Locations: Frankfurt, Germany, Israel, SINGAPORE, Palestinian, Nashville, Gaza, Brent, China, London, Singapore

☆ Asia stocks hit 2-week high as Fed talk turns dovish
▼ + stars: | 2023-10-11 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

Bull statues are placed in font of screens showing the Hang Seng stock index and stock prices outside Exchange Square, in Hong Kong, China, August 18, 2023. The S&P 500 (.SPX) gained overnight and MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 1.3% to a two-week high in morning trade. "I actually don't think we need to increase rates anymore," Atlanta Fed President Raphael Bostic told the American Bankers Association, to applause, in Nashville on Tuesday. On Wednesday the Australian and New Zealand dollars hit their highest levels on the dollar since the end of September, while sterling hit a three-week peak. European gas prices, which had jumped on news of the Middle East violence, surged further on Tuesday on concern a gas pipe in Finland was sabotaged.

Persons: Tyrone Siu, Raphael Bostic, Peter Dragicevich, Brent, Vivek Dhar, Sam Rines, Sam Holmes Organizations: REUTERS, Federal Reserve, paring, Japan's Nikkei, Atlanta Fed, American Bankers Association, Treasury, New Zealand, U.S, CPI, Fed, Bloomberg, HK, Benchmark, Samsung, Pepsi, Thomson Locations: Exchange, Hong Kong, China, SINGAPORE, paring U.S, Asia, Pacific, Japan, Nashville, Tuesday's, Israel, Finland, Estonia, Europe, Texas

Reuters reviewed a confidential draft of the 10-member Association of Southeast Asian Nations' (ASEAN) "guide to AI ethics and governance," whose content has not previously been reported. In contrast to the EU's AI Act, the ASEAN "AI guide" asks companies to take countries' cultural differences into consideration and doesn’t prescribe unacceptable risk categories, according to the current version reviewed. With almost 700 million people and over a thousand ethnic groups and cultures, Southeast Asian countries have widely divergent rules governing censorship, misinformation, public content and hate speech that would likely affect AI regulation. The ASEAN guide advises companies to put in place an AI risk assessment structure and AI governance training, but leaves specifics to companies and local regulators. EU officials and lawmakers told Reuters that the bloc would continue to hold talks with Southeast Asian states to align over broader principles.

Persons: Stephen Braim, Alexandra van Huffelen, Fanny Potkin, Supantha Mukherjee, Panu, Sam Holmes Organizations: Reuters, Association of Southeast Asian Nations, ASEAN Digital, Companies, IBM, Google, ASEAN, Technology, United States, NIST, U.S . Department of Commerce's National Institute of Standards, Meta, Southeast, EU, European Commission, Thomson Locations: SINGAPORE, STOCKHOLM, Thailand, United, Southeast Asia, Japan, South Korea, Brussels, Singapore, Stockholm, Bangkok

Moves were relatively muted as traders waited for more Fed officials to speak later in the day, as well as minutes from the last Fed meeting to be released on Wednesday and U.S. inflation data on Thursday. The euro was last up 0.12% against the dollar at $1.0581. The dollar index , which tracks the greenback against six peers, was last up less than 0.1% at 106.05. The Swiss franc , a traditional safe-haven currency, was last flat, with the dollar trading at 0.9068 francs. Fed officials Raphael Bostic, Christopher Waller, Neel Kashkari and Mary Daly are due to speak later on Tuesday.

Persons: Dado Ruvic, Simon Harvey, Israel's shekel, They're, Chris Turner, Israel, Raphael Bostic, Christopher Waller, Neel Kashkari, Mary Daly, Harry Robertson, Tom Westbrook, Sam Holmes, Simon Cameron, Moore, Susan Fenton, Sharon Singleton Organizations: REUTERS, Hamas, Bloomberg, Columbus, Treasury, Kyodo, Bank of Japan, . Treasury, ING, Swiss, Thomson Locations: SINGAPORE, China, Israel, Palestinian, Gaza, London, Singapore

☆ Dollar stalls as dovish Fed tone dials down rate expectations
▼ + stars: | 2023-10-10 | by ( Tom Westbrook | ) www.reuters.com time to read: +4 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSINGAPORE, Oct 10 (Reuters) - The dollar remained steady against major peers on Tuesday, after a pause in its rally following a slight dovish shift in Federal Reserve officials' tone. "If long-term interest rates remain elevated because of higher term premiums, there may be less need to raise the Fed funds rate," said Dallas Fed president Lorie Logan -- a notable shift from previously hawkish rhetoric. Fed Vice Chair Philip Jefferson said the central bank would need to "proceed carefully" given the recent rise in yields. "There are another 13 Fed speakers scheduled this week which could see this theme develop further," said analysts at Westpac. "The idea that the increases in bond yields have done part of the tightening job appears to be gaining traction among some Fed officials," said OCBC rates strategist Frances Cheung.

Persons: Dado Ruvic, Lorie Logan, Philip Jefferson, Frances Cheung, Ken Cheung, Tom Westbrook, Sam Holmes, Simon Cameron, Moore Organizations: REUTERS, Rights, Federal, New, East, Swiss, Palestinian, Dallas, Fed, Westpac, Columbus, People's Bank of, Thomson Locations: Rights SINGAPORE, Asia, New Zealand, Israeli, Israel, Tokyo, People's Bank of China

☆ San Francisco police fatally shoot driver of car that crashed into Chinese consulate
▼ + stars: | 2023-10-10 | by ( Nathan Frandino | ) www.reuters.com time to read: +2 min

SAN FRANCISCO, Oct 9 (Reuters) - Law enforcement officers fatally shot the driver of a vehicle that plowed through the Chinese consulate in San Francisco and into the lobby of the building's visa office on Monday, city police said. "I don't know how many people were inside the visa office at the time of the collision," San Francisco Police Department spokesperson Sergeant Kathryn Winters told reporters at a news briefing hours later. "When officers arrived here on scene, they found the vehicle had come to rest inside the lobby of the Chinese Consulate. [1/3]Law enforcement members stand on the street near the Chinese consulate, where local media has reported a vehicle may have crashed into the building, in San Francisco, California, U.S. October 9, 2023. An ABC television affiliate station in San Francisco reported its news crews observed a man covered in blood being carried away from the scene on a stretcher and rushed into an ambulance.

Persons: Kathryn Winters, " Winters, Nathan Frandino, Steve Gorman, Bernard Orr, Daniel Trotta, Michelle Nichols, Sam Holmes Organizations: FRANCISCO, San Francisco Police, Consulate, Officers, Police, U.S . State Department, REUTERS, State Department, ABC, Thomson Locations: San Francisco, San Francisco , California, U.S, Los Angeles, Beijing, Carlsbad , California, New York

People walk past the main entrance of the Sri Lanka's Central Bank in Colombo, Sri Lanka March 24, 2017. The Central Bank of Sri Lanka (CBSL) lowered the standing deposit facility rate and the standing lending facility rate by 100 basis points each to 10% and 11%, respectively, it said in a statement. Sri Lanka, however, failed to reach an agreement with the IMF in its first review of the bailout package last month, due to a potential shortfall in government revenue. Even with policy loosening Sri Lanka could find it difficult to post (a 2% contraction) this year," said Udeeshan Jonas, chief strategist at equity research firm CAL Group. The central bank reiterated that it would like to see market interest rates come down further.

Persons: Dinuka, CBSL, Udeeshan Jonas, Thilina Panduwawala, Uditha Jayasinghe, Swati Bhat, Sam Holmes, Sudipto Ganguly Organizations: Sri, Central Bank, REUTERS, Rights, International Monetary Fund, Central Bank of Sri, IMF, CAL, Frontier Research, Bank Locations: Colombo, Sri Lanka, Lanka's, Central Bank of Sri Lanka, Sri, Lanka

☆ Japan's inflation adjusted wages extend declines in August
▼ + stars: | 2023-10-05 | by ( ) www.reuters.com time to read: +3 min

TOKYO, Oct 6 (Reuters) - Japan's real wages in August declined for a 17th straight month, government data showed on Friday, as persistent price hikes continued to outpace salaries. Separate data on Friday showed Japan's consumer spending also shrank for the sixth consecutive month in August, squeezing consumers' purchasing power even as major companies offered their biggest pay increases in three decades. The consumer inflation rate officials use to calculate real wages, which includes fresh food prices but excludes rent, slowed to 3.7%, the lowest in 11 months. Base salary growth in August climbed 1.6% year-on-year, from a revised 1.4% gain in the previous month, the data showed. "As import prices settle down, the growth rate of consumer inflation is also expected to gradually narrow, and real wages will also recover," Koike said.

Persons: Masato Koike, Fumio Kishida, Sompo's Koike, Koike, Satoshi Sugiyama, Kantaro, Christian Schmollinger, Sam Holmes Organizations: Global, Bank of Japan, Sompo, Ministry of Health, Labour, Welfare, Thomson Locations: TOKYO, Base

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