By Ankur Banerjee SINGAPORE (Reuters) – Asian stocks got a lift on Thursday from Chinese stocks as China’s central bank kicked off its 500 billion yuan facility to spur capital markets, while the dollar lingered near a two-month high ahead of U.S. inflation data later in the day. The People’s Bank of China (PBOC) said it would start accepting applications from financial institutions to join a newly created funding scheme, a plan it announced on Sept. 24 as part of a series of stimulus measures that drove Chinese stocks higher. China’s blue-chip CSI300 index rose 1.7% in early trading, a…
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By Scott Murdoch (Reuters) -Warren Buffett’s Berkshire Hathaway (NYSE:) has raised 281.8 billion yen ($1.9 billion) in a seven-tranche yen-denominated bond deal, according to a term sheet reviewed by Reuters on Thursday. The U.S. investment giant issued bonds with tenors of 3, 5, 7, 10, 20, 28 and 30 years, the term sheet showed. The 3-year tranche was the largest with 155.4 billion yen raised, ahead of the 5-year bond raising 58 billion yen. Longer-dated bonds were added during the transaction and a proposed 15-year tranche was dropped, messages sent from the deal’s bookrunners showed. Final prices for each of…
100-hour work weeks are not uncommon, junior bankers saidMomo Takahashi/BIJPMorgan’s top strategist had something positive to say about stocks for the first time in a while.JPMorgan chief equity strategist Dubravko Lakos-Bujas said investors should get less defensive.”While it is too soon to assume that this is a turning point, it does suggest that a recession is unlikely in the near term.”Strategists at JPMorgan have been bearish on the stock market since October 2022.But that seems to be changing, based on a Tuesday note from JPMorgan chief global equity strategist Dubravko Lakos-Bujas.While Lakos-Bujas didn’t update his firm’s year-end S&P 500 price…
By Anant Chandak and Rahul Trivedi BENGALURU (Reuters) – India’s retail inflation in September likely overshot the Reserve Bank of India’s (RBI) 4% medium-term target for the first time since July due to a persistent rise in vegetable prices and a lower year-ago base, a Reuters poll found. Food items, especially vegetables and other perishables, which make up a significant share of overall household spending in the country, saw an uptick in prices as heavy rains reduced the availability of essential crops. A high base from last year, which helped bring down inflation in July and August, became a lower…
Exhibition showcases driving forces behind achieving global production of 100 million vehicles and thanks customers for their unwavering supportJourney begins with first model ‘Cortina Mark 2’ and the Pony, Hyundai Motor (OTC:)’s first independently developed modelThree iconic models ’ SONATA, ELANTRA and Scoupe “ highlight Hyundai’s drive to go ‘one step further’ in design, production and engineeringModern SUV and EV lineups reinforce Hyundai Motor’s transformation from traditional automaker to smart mobility solutions providerSEOUL, South Korea, Oct. 9, 2024 /PRNewswire/ — Hyundai Motor Company (OTC:) is marking its historic achievement of producing 100 million vehicles worldwide with the grand opening of…
A satellite image shows Hurricane Milton progressing in the Gulf of Mexico before its expected landfall in Florida, Oct. 9, 2024.CIRA | NOAA | Via ReutersThe National Hurricane Center said Hurricane Milton has made landfall near Siesta Key, Florida as an “extremely dangerous” Category 3 storm on Wednesday evening.The NHC said the storm had sustained winds of up to 120 mph as it warned of a life-threatening storm surge, extreme winds and flash flooding in the central Florida peninsula.As of 8 p.m. ET, the NHC said the storm was about 20 miles west southwest of Sarasota and about 130 miles…
A group of investment entities affiliated with private equity firm Warburg Pincus LLC have sold a significant amount of shares in , Inc. (NYSE American:REI), a Texas-based oil and gas company. The transaction, which took place on October 8, 2024, involved the sale of 4,400,000 shares at a price of $1.62 per share, totaling approximately $7.1 million. The shares were held across several Warburg Pincus entities, which, following the transaction, still collectively own a substantial number of Ring Energy shares. The remaining ownership is distributed among various partnerships and limited partnerships associated with Warburg Pincus, with specific ownership details provided…
(Bloomberg) — Asian equities rose Thursday after US stocks set a fresh high ahead of inflation data that may define Federal Reserve policy easing in the coming months.Most Read from BloombergShares in Japan, South Korea and Australia climbed while Hong Kong equity futures also rose. An index of US-listed Chinese companies fell in New York trading, following the biggest drop in more than four years for mainland China’s benchmark index on Wednesday.Treasuries were steady in early Asian trading after yields drifted higher in New York trading on Wednesday. The Bloomberg Dollar Spot Index was steady Thursday after rising 0.4% in…
WELLINGTON (Reuters) – The New Zealand government reported a larger-than-expected budget deficit for the 2023-24 year as lower growth hurt government revenue, the government’s accounts released Thursday showed. The government recorded a budget deficit of NZ$12.85 billion ($7.79 billion) for the fiscal year ending June 30, 2024, larger than a deficit of NZ$11.07 billion at the government’s budget in May. This is the fifth deficit recorded by the New Zealand government. The government said the worse-than-expected deficit was due to weaker results from government entities and state-owned enterprises. New Zealand Finance Minister Nicola Willis said the result underscored the need…
BUENOS AIRES (Reuters) -Argentina’s lower house of Congress failed on Wednesday to muster the votes needed to reverse President Javier Milei’s veto of a law that would have boosted university funding, a win for the libertarian leader after mass protests opposing his move. Milei vetoed a bill last month that would have updated public university funding in line with Argentina’s triple-digit inflation rate, one of the world’s highest. Thousands of people have since demonstrated against his cuts to education and healthcare. Lawmakers voted 160 in favor of the university funding law with 84 against and 5 abstentions, falling six votes…