Tag: Economies

ANA Chief Urges Japan to Boost Travel During COVID-19 Lull

TOKYO—Japan’s biggest airline, ANA Holdings, has asked the government to ease curbs on overseas visitors, and seeks a revival of domestic tourism subsidies to spur travel as pandemic infections fall, its chief executive said on Thursday. Coronavirus immigration curbs in Japan have led to a drop of about 95 percent in the number of passengers…


Dollar Rockets to 16-Month Highs After Hot US Inflation

LONDON—The dollar rose to 16-month highs against the euro and other currencies on Thursday, and the yen fell back towards multi-year lows, after the hottest U.S. inflation reading in a generation encouraged bets on interest rate hikes. U.S. consumer prices grew last month at their fastest annual pace since 1990, data showed, and traders think…


BOE Says Market Infrastructure Firms No Longer Need to Discuss Dividends

LONDON—Financial market infrastructure and service providers no longer need to discuss paying dividends in advance with the Bank of England, it said on Thursday. The central bank had imposed the requirement in June last year, as part of a wider series of curbs on dividends aimed at ensuring firms had enough capital to see them…


South Korea Tests System for Controlling Air Taxis

SEOUL—South Korea demonstrated a system for controlling urban air mobility vehicles (UAM) on Thursday, which it hopes will serve as taxis between major airports and downtown Seoul as soon as 2025, cutting travel time by two-thirds. Last year, South Korea announced a roadmap to begin commercial urban air travel by 2025. The transport ministry estimates…


Elon Musk Sells $5 Billion in Tesla Shares After Twitter Poll

Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday (November 10), just days after he polled Twitter users about selling 10 percent of his stake. In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while…


Elon Musk Sells $5 bln in Tesla Shares After Twitter Poll

Tesla Chief Executive Elon Musk sold about $5 billion in shares, the billionaire reported in filings on Wednesday (November 10), just days after he polled Twitter users about selling 10 percent of his stake. In his first share sale since 2016, Musk’s trust sold nearly 3.6 million shares in Tesla, worth around $4 billion, while…


Asian Shares Mixed After US Inflation Report

TOKYO—Asian shares were mixed Thursday after a worrisome report on U.S. inflation that slammed into the bond market and knocked stocks lower on Wall Street. In Japan, where investors are awaiting an economic stimulus package from newly elected Prime Minister Fumio Kishida, the benchmark Nikkei 225 climbed 0.5 percent to 29,255.02. Australia’s S&P/ASX 200 fell…


China’s Factory Inflation Accelerates to 26-Year High, Yet Demand Remains Weak

China’s factory gate prices rose at the fastest pace in 26 years in October, but producers have had no way to cover their costs with consumer demand remaining weak. Factory gate prices refer to the cost at which wholesalers purchase materials from producers, not considering transport and distribution fees. The producer price index (PPI) has soared…


Canada’s Labour Shortage Worsened by Feds’ Pandemic Relief Programs, Say Analysts

News Analysis Canada’s labour market is facing a massive worker shortage, with some of the causes said to be long-term in nature, but businesses and analysts also say government pandemic support programs have exacerbated the problem. “As was the case prior to the pandemic, the future supply of workers, and the possibility of shortages impeding…


US SEC Chair Gensler Seeks to Scrutinize Private Fund Fee Arrangements, Side Letter Provisions

WASHINGTON—The chair of the U.S. Securities and Exchange Commission said on Tuesday that the agency will consider new rules that scrutinize private fund fee arrangements, side letter provisions. Gary Gensler, in a keynote address to members of the Institutional Limited Partners Association, added that the agency rules would aim to mitigate conflicts of interest between…