In a move to protect their own manufacturers, the European Union has initiated investigations into China's procurement practices regarding medical devices. This is just one of many probes that the EU has launched to prevent unfair competition and market distortion. The European Commission has launched a probe into Chinese public procurement of medical devices, marking
Economy
Inflation targeting plays a crucial role in maintaining price stability and fostering economic prosperity, according to New York Federal Reserve Bank President John Williams. He emphasized the importance of transparency, clear communication, and setting an explicit numerical longer-run inflation target to anchor inflation expectations and keep inflation at the desired level. Williams believes that these
Societe Generale, one of France's leading banks, recently reported its first quarter financial results, revealing a 22% decline in net income compared to the previous year. Despite this decrease, the bank's performance was better than expected, with profits from equity derivative sales helping to offset weaknesses in retail banking and fixed-income trading. In this article,
The sudden surge of the yen against the dollar overnight left traders and analysts puzzled, with many attributing the move to intervention by Japanese authorities. The dollar had a significant gain of 0.9%, climbing to 155.98 yen from its previous levels. This unexpected turn of events took place in a rather quiet period for the
The recent yen-buying currency market intervention by Japan may not have immediate repercussions on the U.S. bond market. However, if Tokyo continues to engage in prolonged efforts to prevent the further weakening of the exchange rate, this could lead to disruptions in the bond market. Central banks typically intervene to halt excessive depreciation of their
Bond investors are beginning to show a selective interest in adding longer-dated maturities to their portfolios. This shift in strategy is driven by the belief that the Federal Reserve will choose to delay cutting interest rates and reduce them at a slower pace compared to previous easing cycles. The decision to keep rates unchanged at
Australia's major banks are anticipated to report weaker first-half profits as operating costs remain high and competition for mortgage and deposit sales intensifies. This has led to a reduction in margins, putting a strain on overall profitability. Although historically, rising interest rates have been beneficial for the Big Four banks, the current scenario has forced
Australia's Coles, one of the top supermarket operators in the country, has recently highlighted deflation in its fresh produce and meat products. This comes at a time when the overall cost of living crisis in Australia has been exacerbated by persistently high inflation rates. The moderation in price rises across its packaged categories reflects the
Wall Street experienced a day of volatile trading on Monday as investors awaited the Federal Reserve's upcoming interest rate decision. Key players like Tesla and Apple saw gains in their stock values, propelling the consumer discretionary sector upwards. While Tesla shares climbed due to regulatory approvals for self-driving tech in China, Apple surged following reports
Bill Gates, the tech billionaire turned philanthropist, has been a key figure in the global fight against polio. Despite significant progress in reducing cases of the deadly viral disease, Gates warns that success in completely wiping out polio is not guaranteed. The $500 million pledge from Saudi Arabia to fight polio over the next five
Recently, Thai former energy executive Pichai Chunhavajira has been appointed as the country's finance minister, tasked with the responsibility of revitalizing Southeast Asia's second-largest economy. This decision comes at a crucial time for Thailand, as the economy has been facing numerous challenges, including high household debt, rising borrowing costs, and the impact of China's economic
BHP Group is reportedly contemplating making an enhanced offer for Anglo American following the rejection of its initial $39 billion proposal by the London-listed miner. A source familiar with the matter disclosed that BHP is engaged in discussions regarding a revised bid for Anglo American that is expected to be presented in the upcoming weeks.
China's industrial profits have taken a hit in March, with slower gains for the quarter compared to the initial two months of the year. Official data from the National Bureau of Statistics (NBS) revealed that cumulative profits of China's industrial firms only rose by 4.3% to 1.5 trillion yuan ($207.0 billion) in the first quarter
Finance Minister Shunichi Suzuki expressed his concerns about the negative effects of the weak yen on Japan's economy. While acknowledging that a weak yen can have both positive and negative impacts, Suzuki emphasized that he is currently more concerned about the negative effects. The weakening yen has led to an increase in import prices, resulting