Asias factories stepped up production in March as a solid recovery in global demand helped manufacturers move past the setbacks of the pandemic, although rising costs are creating new challenges for businesses in the region. A series of upbeat factory surveys released on Thursday reinforce market optimism that vaccine rollouts, as well as strong growth […]

The dollar held near a multimonth high against other major currencies on Thursday as investors bet fiscal stimulus and aggressive vaccinations will help the United States grow faster than other economies. The dollars index against a basket of six major currencies stood at 93.239, close to a fivemonth high of 93.439 reached on Wednesday. The […]

OPEC has lowered its 2021 oil demand growth forecast by 300,000 barrels per day reflecting concerns about the markets recovery amid a wave of new coronavirus lockdowns, a report from its experts panel meeting seen by Reuters showed. The Joint Technical Committee, which advises the group of oilproducing nations that includes Saudi Arabia and Russia, […]

Hitachi Ltd said on Wednesday it will buy U.S. software company GlobalLogic Inc for 9.6 billion, as the Japanese industrial conglomerate aims to expand from electronics hardware to digital services. The acquisition is part of Hitachis ongoing business portfolio overhaul, which includes the 7 billion acquisition of ABB Ltds power grid business last year and […]

Britains coronavirushammered economy grew more quickly than previously thought in the final three months of 2020, official data showed on Wednesday. Gross domestic product increased by 1.3 between October and December last year from the previous threemonth period, compared with an earlier estimate of 1.0 growth, the Office for National Statistics said Economists polled by […]

Index provider FTSE Russell gave final approval on Monday for inclusion of Chinese sovereign bonds in its flagship bond index, starting later this year, setting the stage for billions of dollars of inflows into the worlds secondlargest economy. The index provider also said India and Saudi Arabia were being considered for potential inclusion, and that […]

Artificial intelligence companies could become so powerful and so wealthy that theyre able to provide a universal basic income to every man, woman and child on Earth. Thats how some in the AI community have interpreted a lengthy blog post from Sam Altman, the CEO of research lab OpenAI, that was published earlier this month. […]

Global banks may lose more than 6 billion from the downfall of Archegos Capital, sources familiar with trades involving the U.S. investment firm said on Monday, and regulators and investors fear the episode could reverberate more widely. Japans Nomura and Credit Suisse of Switzerland warned of major losses from lending to Archegos for equity derivatives […]

Japanese retail sales fell for the third straight month in February as households kept a lid on expenditure amid the coronavirus emergency, underscoring the fragile nature of the economys recovery from last years slump. Analysts expect Japans economy sharply contracted in the first quarter, as lacklustre consumer spending and weakening exports create challenges for policymakers […]

Banks and other financial firms in Britain must set out by March 2022 how quickly critical parts of their business could recover from IT glitches and other disruptions and how to minimise the impact, the Bank of England said on Monday. The BoEs Prudential Regulation Authority PRA, in conjunction with the Financial Conduct Authority, set […]