Category: Business

Tesla Inc (TSLA.O) supplier LG Energy Solution Ltd (LGES) (373220.KS) upped revenue guidance by 14% on Wednesday in the year’s second such change, after quarterly profit beat forecasts on strong demand from car makers and a weak local currency. The South Korean firm said its battery order backlog rose to 370 trillion won ($260 billion) […]

The preferred bidder to buy out Toshiba Corp (6502.T), a group led by private equity firm Japan Industrial Partners (JIP), is likely to miss the deadline to secure bank loans for the deal, the Kyodo news agency reported on Wednesday. Kyodo did not say where it got the information. Toshiba shares fell 2% on the […]

Solid wage growth, not a spiralling yen, is likely to be the trigger that drives the Bank of Japan away from its ultra-low interest rates as the policymakers cling stubbornly to hopes a tight job market will eventually revive consumer demand. With Japan’s economy still weak, the BOJ is not expected to raise interest rates […]

Australian inflation raced to a 32-year high last quarter as the cost of home building and gas surged, a shock result that stoked pressure for a return to more aggressive rate hikes by the country’s central bank. Data from the Australian Bureau of Statistics (ABS) on Wednesday showed the consumer price index (CPI) jumped 1.8% […]

Singapore’s energy regulator will be introducing new emissions standards for new and repowered fossil fuel-fired power generation units in 2023, a minister said on Wednesday. The Energy Market Authority (EMA) will consult with the industry in the coming months and will release details on the standards subsequently, Low Yen Ling, the minister of state for […]

The cryptocurrency industry said on Wednesday it was disappointed with Australia’s decision to continue treating digital currencies as assets for tax purposes, and not as foreign currency. The government said in its budget announcement on Tuesday it would introduce legislation to enshrine the treatment of digital currencies such as Bitcoin as an asset. This means […]

A look at the day ahead in European and global markets from Vidya Ranganathan The Federal Reserve’s blackout period has markets grasping at straws — home prices, sentiment indicators, Microsoft’s cloudy earnings and any little signs of economic weakness –and pretending the Fed will go easier on future tightening. There’s an element of complacency in […]