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☆ S.Korea to scrap taxes for foreigners' income from bonds - minister
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Oct 16 (Reuters) - South Korea's finance minister said the government will scrap taxes on foreigners' income from investments in treasury bonds and monetary stabilization bonds from Monday. Speaking to reporters late on Saturday in the United States after a meeting of Group of 20 finance ministers and central bankers, Choo Kyung-ho said the government decided to bring forward the timing of the planned tax removal from 2023 to next week to boost capital inflows into the local bond market. FTSE Russell, a global index provider, said on Sept. 30 it had added South Korea to a list for possible inclusion in its World Government Bond Index (WGBI). "We were included in the WGBI watchlist at the end of September but were thinking there is a need to make a quick move to attract more foreign investment into our treasury bond market," Choo said. Register now for FREE unlimited access to Reuters.com RegisterReporting by Cynthia Kim; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

☆ Best Buy, Lyft, and Adobe are hiring more execs from marginalized backgrounds thanks in part to this woman
▼ + stars: | 2022-10-11 | by ( Marguerite Ward | ) www.businessinsider.com time to read: +7 min

To date, nearly 600 companies including Ralph Lauren, Lyft, Best Buy, Adobe, Oracle, and Cisco have signed on. Josh James, the CEO of cloud-software company Domo, is a cofounder of Parity.org and a signatory of Parity.org's gender pledge in 2017 and its race pledge in 2020. Signing the Parity.org gender and race pledges does not hold CEOs accountable to a specific goal or target date. "Imposing a one-size-fits-all deadline or quota would just lead to failure on the part of many companies," Stickney said. Now, the nonprofit is expanding to conduct pay-equity analyses based on race, gender, and age.

☆ South Korea finance minister says more foreign-exchange stabilizing measures are on the way
▼ + stars: | 2022-09-25 | by ( ) www.reuters.com time to read: +1 min

SEOUL, Sept 25 (Reuters) - South Korea's finance minister said the government would prepare more measures to stabilise the foreign exchange market, while downplaying the need for a currency swap arrangement with the United States. The measures include utilising the government's foreign exchange equalisation fund to meet shipbuilding companies' FX hedging demands, thereby increasing dollar supply in the local market, minister Choo Kyung-ho said during a televised interview on Sunday. It is part of FX authorities' efforts to ease volatility in the FX market, Choo said, in addition to a currency swap arrangement between the country's central bank and a pension fund announced on Friday, as they are seeing the South Korean won recently weakening at a faster pace than most peers. On a question about the possibility of a currency swap deal between the Bank of Korea and the U.S. Federal Reserve, Choo said it would definitely be helpful for the local market, but is not necessary yet in the current market situation. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jihoon Lee Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

☆ S.Korea 20-day exports fall on holiday effects, slow global economy
▼ + stars: | 2022-09-21 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA truck carrying a shipping container travels past cranes at Pyeongtaek port in Pyeongtaek, South Korea, July 9, 2020. The country's imports for the same 20-day period rose 6.1%, producing a trade deficit of $4.1 billion, the Korea Customs Service data showed. Average exports per working day during the Sept. 1-20 period rose 1.8% from a year before, it added. Finance Minister Choo Kyung-ho held a meeting of senior government officials to review trade conditions and vowed to focus policy to help exporters. Register now for FREE unlimited access to Reuters.com RegisterReporting by Choonsik Yoo; Editing by Himani Sarkar and Sam HolmesOur Standards: The Thomson Reuters Trust Principles.

☆ S.Korean won falls through key level after Fed hike
▼ + stars: | 2022-09-21 | by ( Choonsik Yoo | ) www.reuters.com time to read: +2 min

A South Korea won note is seen in this illustration photo May 31, 2017. The won fell as much as 0.9% to 1,406.8 per dollar in early onshore trading, marking the first time it crossed the 1,400-won mark since late March 2009. Both the finance ministry and the central bank separately issued warnings that they would act against excessive movements in the foreign exchange market. "The authorities will introduce various measures aimed at easing a supply-demand imbalance for foreign currencies from the pension fund and foreign trading companies," Minister Choo Kyung-ho said at a meeting of senior officials. Both the Bank of Korea and the National Pension Service declined to comment on the reports.

☆ Ralph Lauren Has an Ambitious New Look
▼ + stars: | 2022-09-20 | by ( Jinjoo Lee | ) www.wsj.com time to read: +1 min

Ralph Lauren started out as a tie business 55 years ago before it eventually became known for its iconic polo shirt. The brand now wants to keep the spirit of that expansion going, setting its sights on women’s apparel and less penetrated cities such as Atlanta and Houston. At an investor day on Monday, Ralph Lauren set out a target to grow revenue at a compound annual growth rate in the mid- to high-single-digit percentage range over the next three years, a clear upgrade from its 0.15% CAGR over the past four years. It also expects adjusted operating margins to reach 15% in fiscal year 2025, taking that number closer to American luxury brand peers Capri Holdings , which owns Michael Kors and Jimmy Choo, and Coach-owner Tapestry . That margin target doesn’t seem like such a stretch given that it already expects adjusted operating margins to reach 14% to 14.5% in the current fiscal year, an impressive upgrade from a 5.6% margin four years ago.

☆ California Wants to Ban Your Choo-Choo
▼ + stars: | 2022-09-16 | by ( The Editorial Board | ) www.wsj.com time to read: 1 min

Review & Outlook: Despite regular power shortages in California, on Sept. 16, 2022, Governor Gavin Newsom signed 40 new climate bills to amp up California’s green-energy shock experiment. Images: Shutterstock/Getty Images Composite: Mark KellyGavin Newsom wants to be President, but in some respects the Governor already is, as the Biden Administration lets California impose its climate rules on the other 49 states. In the latest example, the Environmental Protection Agency has green-lighted Sacramento’s plan to outlaw diesel locomotives. The California Air Resources Board (CARB) in April approved a regulation that would require railroads to replace diesel with “zero emission” locomotives. Diesel locomotives typically have a useful life of 40 years or more, but the regulation would bar those that are 23-years or older from running in the state after 2029.

Persons: Gavin Newsom, Mark Kelly Gavin Newsom Organizations: Biden Administration, Environmental Protection Agency, California Air Resources Board, Diesel Locations: California

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