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☆ Ex-BOJ official predicts no yen intervention until breach of 150 threshold
▼ + stars: | 2023-08-22 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The dollar stood at 146.125 yen on Tuesday, staying near a nine-month high of 146.565 hit last Thursday. But anxiety over the weak yen appears less than a year ago as households are becoming accustomed to rising prices, he said. The benefits of a weak yen are also becoming clearer due to Japan's re-opening of borders, which is reviving inbound tourism and domestic service-sector firms, he added. "Public discontent over the weak yen isn't escalating to a scale seen last year," he said. But authorities could intervene if the yen speeds up its pace of declines and breaches 150 to the dollar, he said.

Persons: Yen, Dado Ruvic, Takeuchi, Kishida, Fumio Kishida, Atsushi Takeuchi, Japan's, Leika Kihara, Simon Cameron, Moore Organizations: REUTERS, FX, Reuters, Ricoh Institute of Sustainability, Ministry of Finance, Thomson Locations: Tokyo, TOKYO, Japan

☆ Dollar eases before Jackson Hole, yen rises amid intervention jitters
▼ + stars: | 2023-08-22 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration taken January 30, 2023. China's yuan briefly popped to a one-week high as the central bank again tried to bolster the currency by setting a much stronger-than-anticipated daily mid-point, but those gains fizzled out quickly. Money markets currently lay a bit less than 50/50 odds for another 25 basis point Fed hike by November, before the central bank shifts to rate cuts next year. Traders are wary of intervention after levels around 146 spurred the first yen buying by Japanese officials in a generation last September. On Thursday, the dollar reached 146.565 yen for the first time since Nov. 10.

Persons: Dado Ruvic, Jerome Powell, Kazuo Ueda, Richard Franulovich, Powell, Kristina Clifton, Kevin Buckland, Simon Cameron, Moore Organizations: REUTERS, Rights, U.S, Federal, Bank of Japan, U.S ., Westpac, Treasury, Traders, Sterling, Commonwealth Bank of Australia, Thomson Locations: Bank, Jackson Hole , Wyoming, China's, Beijing, China

☆ China's fiscal revenue slows as economy struggles
▼ + stars: | 2023-08-21 | by ( ) www.reuters.com time to read: +1 min

BEIJING, Aug 21 (Reuters) - China's fiscal revenue rose 11.5% in the first seven months of 2023 from the same period a year earlier, but was slower than the 13.3% rise posted for the first six months, official data showed, amid signs the economy is losing momentum. Fiscal revenue totalled 13.9 trillion yuan ($1.92 trillion) from January-July, while fiscal expenditure grew 3.3% to 15.2 trillion yuan ($2.10 trillion), the finance ministry said in a statement on Monday. In July, fiscal revenue rose 1.9% year on year, slowing from a 5.6% increase in June. Fiscal expenditure fell 0.8% in the same period, narrowing from a 2.5% decline a month earlier, according to Reuters calculations based on the ministry's data. China's consumer sector fell into deflation in July, with analysts expecting price stagnation to persist for the next six to 12 months.

Persons: Joe Cash, Gao, Jacqueline Wong, Simon Cameron, Moore Organizations: Thomson Locations: BEIJING

Gonzalez, a protege of former President Rafael Correa who has promised to revive his social programs, won 33% support, while Noboa, son of prominent banana businessman and former presidential candidate Alvaro Noboa, was a surprise second-place with 24% of the vote. The contest was darkened by the assassination of anti-corruption candidate Fernando Villavicencio earlier this month. The crime is still under investigation, but Villavicencio, who was replaced as a candidate by his friend and fellow investigative journalist Christian Zurita, came third with 16%. Noboa seemingly gained support after performing well in the only televised debate of the campaign. Reporting by Alexandra Valencia and Julia Symmes Cobb; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Luisa Gonzalez, Daniel Noboa, Ecuador's, Gonzalez, Rafael Correa, Noboa, Alvaro Noboa, Fernando Villavicencio, Villavicencio, Christian Zurita, Sharp, Correa, Guillermo Lasso, Alfredo Espinosa, Espinosa, " Espinosa, Villavicencio's, Alexandra Valencia, Julia Symmes Cobb, Simon Cameron, Moore Organizations: Amazon, Thomson Locations: QUITO, Quito, Choco

☆ Dollar set for fifth winning week on Fed bets, China worries
▼ + stars: | 2023-08-18 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

U.S. Dollar and Chinese Yuan banknotes are seen in this illustration picture taken June 14, 2022. Strong economic data this week, particularly retail sales, had already bolstered the case for additional tightening. That all helped push 10-year Treasury yields to the highest since October at 4.328% on Thursday. "The risk aversion, the higher yields, the resilient economic data ... all of those things have played out to perfection for the U.S. Against the yen, the dollar eased 0.32% to 145.365 on Friday, after reaching a nine-month peak of 146.40 overnight.

Persons: Florence Lo, Tony Sycamore, Sycamore, Ray Attrill, Kevin Buckland, Jacqueline Wong, Simon Cameron, Moore Organizations: REUTERS, Rights, People's Bank of, U.S, Federal, IG, U.S ., National Australia Bank, Reuters, HK, . Treasury, Thomson Locations: Beijing, People's Bank of China, China, U.S

☆ US CDC tracks new lineage of virus that causes COVID
▼ + stars: | 2023-08-18 | by ( Deena Beasley | ) www.reuters.com time to read: +2 min

The lineage is named BA.2.86, and has been detected in the United States, Denmark and Israel, the CDC said in a post on messaging platform X. "As we learn more about BA.2.86, CDC's advice on protecting yourself from COVID-19 remains the same," the agency said. The WHO said that, so far, only a few sequences of the variant have been reported from a handful of countries. The new lineage, which has 36 mutations from the currently-dominant XXB.1.5 COVID variant "harkens back to an earlier branch" of the virus, explained Dr. S. Wesley Long, medical director of diagnostic microbiology at Houston Methodist. https://slides.com/jbloom/new_2nd_gen_ba2_variant?ftag=YHF4eb9d17#/12The Omicron subvariant XBB.1.5 is the strain targeted by vaccines in upcoming COVID booster shots.

Persons: Wesley Long, Jesse Bloom, Fred Hutch, Dr, Long, Shivani Tanna, Himani Sarkar, Simon Cameron, Moore Organizations: Science, Trinity College, Reuters, U.S . Centers for Disease Control, CDC, World Health Organization, WHO, Houston Methodist, Fred Hutch Cancer Center, Thomson Locations: Dublin, Wuhan, United States, Denmark, Israel, Bengaluru

☆ China's state banks seen selling dollars for yuan in London and New York hours
▼ + stars: | 2023-08-17 | by ( ) www.reuters.com time to read: +3 min

"State bank dollar selling has become a new normal to slow the pace of yuan depreciation," said one Shanghai-based trader. Offshore branches of the state banks were also seen selling dollars during London and New York trading hours this week, two sources with direct knowledge of the matter said on Thursday. Such dollar selling could limit falls in the offshore yuan and prevent it from diverging too far from its onshore counterpart . The onshore yuan traded at 7.3145 per dollar as of 0442 GMT, while the offshore yuan last fetched 7.3400. During recent weeks, market watchers say the Chinese authorities have sought to slow the yuan's decline, with the PBOC persistently setting a stronger-than-expected fixing, and state banks repeatedly selling dollars.

Persons: Yuan, Dado Ruvic, Hong, Jacqueline Wong, Simon Cameron, Moore Organizations: REUTERS, Rights, U.S, People's Bank of China, Shanghai, Thomson Locations: State, Shanghai, London, New York, China, U.S, Hong Kong

The rioters were demanding that the two accused men, who had fled their homes, be handed over to them. The troops have cordoned off the Christian colony, blocking all entry and exit points with barbed wire, according to a Reuters TV cameraman. Hundreds of Christians took refuge in a nearby district, a community leader Akmal Bhatti told Reuters, adding that four pastors had returned to the churches, which were still smouldering. "It is the government's responsibility to compensate for the loss of property of the Christian community," he told reporters, adding the government was estimating the losses. The United States was "deeply concerned that churches and homes were targeted," State Department Deputy Spokesperson Vedant Patel said on Wednesday.

Persons: Christian, Akmal Bhatti, Bhatti, Mohsi Naqvi, Vedant Patel, Asif Shahzad, Raju Gopalakrishnan, Simon Cameron, Moore, Alexandra Hudson Organizations: Police, Reuters, Amnesty, State Department, Alexandra Hudson Our, Thomson Locations: LAHORE, Pakistan, Jaranwala, Faisalabad, United States, Islamabad

☆ Yield gap between China and US widens to highest since 2007 after surprise rate cut
▼ + stars: | 2023-08-16 | by ( ) www.reuters.com time to read: +3 min

And markets widely expect the PBOC to loosen monetary policy further. But the divergent monetary policy paths between the world's two largest economies widened the yield gap to 164 basis points between China's benchmark 10-year government bonds and U.S Treasuries s - the highest since February 2007. "More broadly, recent economic data releases in China have been disappointing, while those in the U.S. have surprised to the upside." The widening yield gap reduced foreign appetite in China's onshore yuan bonds, with latest official data showing overseas investors' holding declined in July. But the expectations for further monetary easing and capital outflow risks has pressure on the Chinese yuan to depreciate further.

Persons: Janet Yellen, Mark Schiefelbein, David Chao, Eugenia Victorino, SEB, Winni Zhou, Tom Westbrook, Simon Cameron, Moore Organizations: Rights, People's Bank of China, Asia, Thomson Locations: United States, Diaoyutai, Beijing, China, Rights SHANGHAI, SINGAPORE, Invesco, U.S, Asia

☆ Analysis: Japan's policymakers hold fire as yen enters intervention range
▼ + stars: | 2023-08-15 | by ( Kevin Buckland | ) www.reuters.com time to read: +4 min

But a key factor behind the yen's weakness is unchanged, namely the yawning yield gap with the United States. Yet currency traders remain nervous about provoking intervention, as the yen entered the same zone that triggered heavy dollar selling by Japanese authorities in September and October of last year. For now, traders are testing the waters by selling the yen against sterling and the Swiss franc, mindful that selling against the dollar could gather momentum quickly. From a purely macroeconomic perspective, Kichikawa said, officials have no imperative to prevent yen weakness before 150, which is consistent with the mild inflationary pressure that the BOJ aims to foster. The bond market, which precipitated the yen's slide, may ultimately give Japan's authorities reason to hold off on pressing the intervention button.

Persons: Shunichi Suzuki, Suzuki, Aaron Hurd, Masayuki Kichikawa, Brent, Kichikawa, Shinichiro Kadota, Kevin Buckland, Saqib Iqbal Ahmed, Simon Cameron, Moore Organizations: Bank of Japan, Finance, State Street Global Advisors, Swiss, Brent, Sumitomo Mitsui DS Asset Management, Treasury, Barclays, Thomson Locations: TOKYO, United States, Tokyo, Boston, Japan

☆ Australia Q2 wage gains underwhelm, argue against further hikes
▼ + stars: | 2023-08-15 | by ( Stella Qiu | ) www.reuters.com time to read: +3 min

"Wage growth has been stuck at 0.8% q/q for the past three quarters – a somewhat surprisingly slow pace given the very low level of the unemployment rate," said Sean Langcake, head of macroeconomic forecasting for Oxford Economics Australia. Despite higher interest rates, Australia's jobless rate is hovering near 50-year low of 3.5% and the economy is adding more jobs than expected. The RBA now sees a credible path where inflation could be restrained with interest rates at their current level, minutes showed on Tuesday. The path involves annual wage growth peaking at 4.1% by the end of the year before easing back to 3.6% by end-2025, according to the bank's latest forecasts. The ABS data showed wages in the public sector picked up to an annual rise of 3.1% while growth in private sector wages increased 3.8%.

Persons: David Gray, Sean Langcake, Andrew Boak, Goldman Sachs, Stella Qiu, Kim Coghill, Sonali Paul, Simon Cameron, Moore Organizations: REUTERS, Reserve Bank of Australia, Australian Bureau, Statistics, Oxford Economics, Thomson Locations: Newcastle, Sydney, Australia, SYDNEY, Oxford Economics Australia

SINGAPORE, Aug 15 (Reuters) - Singapore's central bank released a regulatory framework on Tuesday intended to bolster the stability of single-currency stablecoins. The framework will apply to non-bank issuers of single-currency stablecoins pegged to the Singapore Dollar or any G10 currencies where their circulation exceeds S$5 million, said the Monetary Authority of Singapore (MAS). The central bank has to hold legislative consultations before Parliament passes amendments that would bring the framework into force. Single-currency stablecoins are a type of cryptocurrency pegged to a traditional asset like national currencies. The reserve assets must be at least at 100% of the outstanding single-currency stablecoins that are in circulation.

Persons: Xinghui Kok, Simon Cameron, Moore Organizations: Singapore, Monetary Authority of Singapore, MAS, UST, U.S . House Financial Services, Thomson Locations: SINGAPORE, Singapore, U.S

☆ Russian air strikes on western Ukraine kill at least three - officials
▼ + stars: | 2023-08-15 | by ( ) www.reuters.com time to read: +2 min

[1/5] A view shows a building damaged during a Russian missile strike, amid Russia's attack on Ukraine, in Lviv, Ukraine August 15, 2023. The Volyn region borders NATO-member Poland to its west. Ukraine's Air Force said that its forces had destroyed 16 of at least 28 Russia-launched air and sea-based missiles. Until July, the Lviv region which is far from the front lines and which borders Poland to its west, had been spared most Russia's air attacks. Air raid alerts were issued for entire Ukraine for about two hours, staring at around 2 a.m. (2300 GMT).

Persons: Administration Maksym, Yuriy Pohulyaiko, Andriy Sadovyi, Sadovyi, Maxim Kozitsky, Serhiy Lisak, Lidia Kelly, Maria Tsvetkova, Kim Coghill, Simon Cameron, Moore Organizations: Lviv Regional, Administration, REUTERS, NATO, Air Force, Lviv region's, Reuters, Thomson Locations: Russian, Ukraine, Lviv, Handout, Russia, Volyn, Lutsk, Poland, Dnipropetrovsk, Warsaw, New York

☆ Russia to equip new nuclear submarines with hypersonic missiles
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Maxim Shemetov/File... Read moreAug 14 (Reuters) - Russia is in the process of equipping its new nuclear submarines with hypersonic Zircon missiles, the head of Russia's largest shipbuilder told the RIA state news agency in an interview published on Monday. "Multi-purpose nuclear submarines of the Yasen-M project will ... be equipped with the Zircon missile system on a regular basis," , Alexei Rakhmanov, chief executive officer of the United Shipbuilding Corporation (USC), told RIA. Yasen-class submarines, also known as Project 885M, are nuclear-powered cruise missile submarines, built to replace Soviet-era nuclear attack submarines as part of a programme to modernise the army and fleet. President Vladimir Putin said earlier this year that Russia would start mass supplies of Zircon missiles as part of the country's efforts to boost its nuclear forces. The Russian multi-purposes frigate Admiral Gorshkov, which has tested its strike capabilities in the western Atlantic Ocean earlier this year, has been already equipped with Zircon missiles.

Persons: Alexei Rakhmanov, Maxim, Read, Vladimir Putin, Gorshkov, Lidia Kelly, Simon Cameron, Moore Organizations: United Shipbuilding Corporation, REUTERS, USC, Zircon, Thomson Locations: Lomonosov, Chukotka, Murmansk, Russia, Russian, Melbourne

☆ Fire at Russian gas station kills 27, injures 66
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Aug 15 (Reuters) - A fire at a gas station in the southern Russian region of Dagestan killed at least 27 people including three children, Interfax news agency reported early on Tuesday citing regional emergency medics. The fire started at an auto repair shop on the roadside of a highway in Dagestani capital Makhachkala on Monday night and caused blasts as it spread to a nearby gas station, officials said. Rescuers work to put out a fire at the accident scene following an explosion at a gas station in the city of Makhachkala, Russia, August 14, 2023. At least 66 people were injured, of whom 10 were in a critical condition, Russian deputy health minister Vladimir Fisenko said giving an update on casualties, RIA news agency reported. Thirteen of the wounded were children, Interfax reported citing the Dagestani health ministry.

Persons: Vladimir Fisenko, Maria Tsvetkova, Maxim Rodionov, Chris Reese, Muralikumar Anantharaman, Simon Cameron, Moore Organizations: Reuters, Russian Emergencies Ministry, TASS, Thomson Locations: Russian, Dagestan, Dagestani, Makhachkala, Russia, Republic of Dagestan, Handout

☆ Russia's Far East suffers flooding in Khanun's wake, over 2,500 people evacuated
▼ + stars: | 2023-08-14 | by ( ) www.reuters.com time to read: +1 min

Aug 14 (Reuters) - Floods in Russia's Far East had forced the evacuation of more than 2,500 people by Monday, the ministry of emergency situations said, after Russia joined the list of countries battered by rainstorms in the wake of Typhoon Khanun. Russian Emergencies Ministry/Handout via REUTERS/File photoIn the Russian Far East, 28 settlements were cut off by Monday. Large stretches of roads and 4,620 houses were flooded in 15 municipalities, the ministry said on the Telegram channel. The ministry said floodwaters had begun to recede in most parts of Primorye, and the worst flooding was on the Malinovka river near the village of Rakitnoye. Reporting by Lidia Kelly in Warsaw; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Khanun, Lidia Kelly, Simon Cameron, Moore Organizations: Russian Emergencies Ministry, REUTERS, Telegram, Thomson Locations: Russia's Far, Russia, Japan, China, Liaoning, Ussuriysk, Russian, Vladivostok, Primorye, Rakitnoye, Warsaw

☆ Dollar set for fourth week of gains, inflation cements rate outlook
▼ + stars: | 2023-08-11 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

Japanese yen and U.S. dollar banknotes are seen with a currency exchange rate graph in this illustration picture taken June 16, 2022. The pound was last up 0.3% at $1.2711, but was still heading for a fourth weekly drop. Data on Thursday showed U.S. consumer inflation rose 0.2% last month, matching the gain in June, and by 3.2% in the 12 months through July. The dollar index , which measures the U.S. currency against six others, fell 0.1% to 102.50, but was still set for a fourth weekly gain, thanks in part to a rise in Treasury yields. The dollar fell against the euro , which rose 0.1% to $1.0995 and against the Australian dollar , which rose 0.14% to $0652.

Persons: Florence Lo, Moh Siong Sim, Nick Rees, Mary Daly, Ankur Banerjee, Shri Navaratnam, Simon Cameron, Moore, David Evans Organizations: U.S, REUTERS, Federal, Bank of Japan, Singapore, Ministry of Finance, Reuters, CPI, FX, Monex, San Francisco Fed, Thomson Locations: Japan, Monex Europe, U.S, Singapore

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterBEIJING, Aug 11 (Reuters) - Oil prices fell marginally on Friday as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. Brent crude fell 15 cents to $86.25 a barrel at 0515 GMT, while U.S. West Texas Intermediate crude futures were down 13 cents at $82.69 a barrel. Market sentiment was also lifted by Thursday's U.S. consumer prices data for July, which fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle. Data this week also showed China's consumer prices fell into deflation and factory gate prices extended declines in July, raising concerns about fuel demand in the world's second-largest economy.

Persons: Dado, Brent, Tina Teng, Teng, Baden Moore, Moore, Stephanie Kelly, Andrew Hayley, Shri Navaratnam, Simon Cameron Organizations: REUTERS, China, U.S, West Texas, CMC Markets, The, of Petroleum Exporting, Thursday's U.S, Federal Reserve, National Australia Bank, bbl, Thomson Locations: China, BEIJING, OPEC, Auckland, June's, Saudi Arabia, Russia, Ukraine, Baden, 2H23, New York, Beijing

A 3D-printed oil pump jack is seen in front of displayed OPEC logo in this illustration picture, April 14, 2020. REUTERS/Dado Ruvic/File PhotoSummary OPEC flags healthy oil market fundamentals in second halfUS consumer prices rise moderately in JulyChina tips into deflation as efforts to stoke recovery falterBEIJING, Aug 11 (Reuters) - Oil prices were largely unchanged in Asian morning trade as investors weighed optimistic demand forecasts from the OPEC producer group against mixed economic data in top importer China. In 2024, "solid" economic growth amid continued improvements in China is expected to boost oil consumption, it added. Market sentiment was also lifted by Thursday's U.S. consumer prices data for July, which fuelled speculation the Federal Reserve is nearing the end of its aggressive rate hike cycle. However, Teng also noted that "China’s sluggish economic data and the retreat on Wall Street weighs on risk sentiment, and a strengthened USD also pressured commodity prices".

Persons: Dado, Brent, Tina Teng, Teng, Baden Moore, Moore, Stephanie Kelly, Andrew Hayley, Shri Navaratnam, Simon Cameron Organizations: REUTERS, China, U.S, West Texas, CMC Markets, The, of, Petroleum, Thursday's U.S, Federal Reserve, National Australia Bank, bbl, Thomson Locations: China, BEIJING, OPEC, Auckland, June's, Saudi Arabia, Russia, Ukraine, Baden, 2H23, New York, Beijing

☆ China's Huawei reports small revenue bump on back of core businesses
▼ + stars: | 2023-08-11 | by ( ) www.reuters.com time to read: +2 min

A visitor checks a mobile phone near the Huawei logo during the Mobile World Congress in Shanghai, China June 28, 2023. REUTERS/Nicoco Chan/File PhotoSHENZHEN, China, Aug 11 (Reuters) - China's Huawei Technologies (HWT.UL) saw modest revenue growth in the first half of the year, with its core information and communications technology (ICT) infrastructure and consumer businesses generating the lion's share. Revenues rose to 310.9 billion yuan ($43.01 billion), up 3.1% on the same period a year earlier, the Shenzhen-based technology giant announced on Friday. Huawei's profit margin rose to 15%, with a net profit of 46.6 billion yuan, making, according to Reuters calculations, around a threefold improvement on a year earlier. "In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth," said Meng Wanzhou, Huawei's rotating chairperson and the daughter of its founder, Ren Zhengfei.

Persons: Nicoco Chan, Meng Wanzhou, Ren Zhengfei, Richard Yu, David Kirton, Simon Cameron, Moore Organizations: Huawei, Mobile, Congress, REUTERS, Huawei Technologies, Reuters, Thomson Locations: Shanghai, China, SHENZHEN, Shenzhen, U.S

☆ Subway India takes away free cheese slice, offers sauce as inflation bites
▼ + stars: | 2023-08-11 | by ( Riddhima Talwani | ) www.reuters.com time to read: +3 min

They now charge 30 rupees ($0.40) extra for the cheese slice in most sandwiches, but are offering a free "cheezy" sauce instead. Subway has "replaced the cheese slice with liquid cheese blend ... You just lost a loyal customer," one unimpressed customer, Sumit Arora, wrote on X, the social media platform formerly known as Twitter. A Subway store manager in New Delhi told Reuters the new cheese sauce costs 400 rupees/kilogram. A cheese slice, said Culinary Brands' marketing head Mayur Hola, "can be added on at a small cost". A Subway sandwich costs around 200-300 rupees ($2.4 to $3.6) in India, and if a customer adds the cheese slice - which was once free - will now cost up to 15% higher.

Persons: Andrew Kelly, Everstone, Sumit Arora, Mayur, Karan Taurani, Riddhima Talwani, Varun Vyas, Jatindra, Saurabh Sharma, Aditya Kalra, Simon Cameron, Moore Organizations: REUTERS, Subway, Brands, Twitter, Reuters, India’s, Thomson Locations: Manhattan , New York City, U.S, India, DELHI, Nepal, New Delhi, Bengaluru, Bhubaneswar, Lucknow

☆ Netherlands' Beerensteyn says U.S. team should learn from their 'really big mouth'
▼ + stars: | 2023-08-10 | by ( ) www.reuters.com time to read: +2 min

WELLINGTON, Aug 10 (Reuters) - Netherlands forward Lineth Beerensteyn pulled no punches about the absent United States squad at the Women's World Cup on Thursday, saying the two-times reigning champions should have done their talking on the pitch. The Netherlands were eliminated in the semi-finals by the U.S. at the World Cup four years ago. "Don't start to talk about something that's far away and I hope that they will learn from that." A pre-tournament ad by U.S. World Cup broadcaster Fox Sports has been lambasted by fans as "arrogant." The ad opened with the line: "The whole world is wondering, what's it going to take to stop this US team?"

Persons: Lineth Beerensteyn, Beerensteyn, Lori Ewing, Simon Cameron, Moore Organizations: WELLINGTON, United, South, Juventus, U.S, World, Fox Sports, Thomson Locations: Netherlands, United States, Sweden, South Africa, U.S, Italian, USA, Sydney

☆ Dollar eases as China deflation lures investors into risk assets
▼ + stars: | 2023-08-09 | by ( Amanda Cooper | ) www.reuters.com time to read: +3 min

LONDON, Aug 9 (Reuters) - The dollar eased on Wednesday after data showed the Chinese economy slipped into deflation last month, which upped the chances for the government to roll out extra stimulus measures and nudged investors into risk assets. Dollar selling by state-owned Chinese banks helped the yuan rally from a one-month low, dealers said. The Chinese central bank's stronger-than-expected exchange-rate fixing at 7.1588 per dollar before the open signalled its discomfort with the yuan's recent declines. The dollar index - which measures the performance of the U.S. currency against six others - eased 0.1%, paring some of Tuesday's 0.47% rise. "Chinese inflation data showed that consumer prices have barely moved in July, confirming that the world’s second-largest economy is stalling and may be moving into deflation," he said.

Persons: There's, Ray Attrill, Ricardo Evangelista, Chris Scicluna, Patrick Harker, Raphael Bostic, Michelle Bowman, Kevin Buckland, Brigid Riley, Simon Cameron, Moore, Kirsten Donovan Organizations: National Australia Bank, Federal Reserve, Daiwa Capital, ECB, Bank of England, Philadelphia Fed, Atlanta Fed, Fed, Thomson Locations: China, Tokyo

☆ Asian shares weaken slightly on China deflation risk, bank jitters
▼ + stars: | 2023-08-09 | by ( Stella Qiu | ) www.reuters.com time to read: +5 min

In Asia, the MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) edged 0.2% higher, following a 1.2% tumble a day earlier. Producer prices fell for a 10th consecutive month. "It is not likely to see China entering a full deflation path as core CPI is still resilient and driven by services." "Having said that, if we do not see further improvement in consumer sentiment, it is possible to see growing deflation risks in China." Brent crude futures eased 0.2% to $86.00 per barrel and U.S. West Texas Intermediate crude futures also fell 0.2% to $82.73.

Persons: Issei Kato, Gary Ng, HSI, Chetan Ahya, Morgan Stanley, Dow, Stella Qiu, Ellen Zhang, Jamie Freed, Edmund Klamann, Simon Cameron, Moore Organizations: REUTERS, Nasdaq, Japan's Nikkei, PPI, Asia Pacific, Reuters, Wall, U.S, Brent, . West Texas, Thomson Locations: Tokyo, Japan, China, SYDNEY, Italy, Asia, Pacific, Hong Kong, Brazil, Beijing

☆ China's Li Auto aims to outsell BMW, Mercedes, Audi in its home market in 2024
▼ + stars: | 2023-08-09 | by ( ) www.reuters.com time to read: +2 min

People stand near the logo of Chinese electric vehicle (EV) maker Li Auto at a product launch event in Beijing, China May 25, 2021. REUTERS/Yilei Sun/File PhotoSHANGHAI, Aug 9 (Reuters) - Li Auto (2015.HK) said it aimed to outsell BMW (BMWG.DE), Mercedes-Benz (MBGn.DE) and Audi in China in 2024 as the up and coming Chinese automaker accelerates rollouts of new models and ramps up production. The company will launch four new models next year including three EVs, he said. But Li Auto managed to gain market share in the segment of cars priced above 300,000 yuan and grow profits this year with four extended-range hybrid vehicles targeting family users. ($1 = 7.2134 Chinese yuan renminbi)Reporting by Zhang Yan, Brenda Goh; Editing by Simon Cameron-MooreOur Standards: The Thomson Reuters Trust Principles.

Persons: Li, Li Auto, Li Xiang, Tesla, Zhang Yan, Brenda Goh, Simon Cameron, Moore Organizations: REUTERS, Yilei, HK, BMW, Mercedes, Benz, Audi, Li Auto, China Association of Automobile Manufacturers, Thomson Locations: Beijing, China

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