TOPNWS

Japan spent a record of nearly $20.0 billion on intervention to support the yen

Intervention drains nearly 15% of readily available funds Japan can avoid selling US Treasury bills for now – analysts Impact of further intervention may diminish – analysts TOKYO, Sept 30 (Reuters) – Japan spent up to a record 2.8 trillion yen ($19.7 trillion) intervening in the foreign exchange market last week to prop up the …

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Barclays hit by $361 million US penalty for ‘staggering’ blunder

Sept 30 (Reuters) – British lender Barclays (BARC.L) agreed a $361 million penalty with US regulators on Thursday for “staggering” failures that led it to oversell $17.7 billion of structured products, racking up further costs for an error that has blighted CEO CS Venkatakrishnan’s first year in charge. Barclays shares rose 2% in early trading …

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South Korea’s Yoon calls for a sense of urgency in cushioning economic shocks

SEOUL, Sept 30 (Reuters) – South Korean President Yoon Suk-yeol on Friday called for more sense of urgency in dealing with heightened volatility in financial markets and promised to take contingency measures in a timely manner. “We have built a stronger breakwater than in the past in terms of external soundness and already implemented market …

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Japan’s factories boost output for third month in August

August output rises 2.7%, stronger than expected Manufacturers see output up in Sept, Oct Retail sales post y/y rise for the 6th straight month TOKYO, Sept 30 (Reuters) – Japan’s factories ramped up output for a third straight month in August, as the manufacturing sector showed resilience in the face of heightened fears about high …

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Amazon.com unveils device that tracks breath while sleeping

Sept 28 (Reuters) – Amazon.com Inc on Wednesday announced a contactless gadget that can monitor people’s sleep, along with updates to its lineup of voice-controlled devices and e-readers. The online retailer said its $139.99 sleep gadget, known as Halo Rise, tracks room temperature, humidity and light, plus the breathing patterns of the person closest to …

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Wall Street jumps over 1% in choppy trading as yields dip

Apple down 2.83% on move to drop iPhone production boost US 10-yr Treasury yields ease from 12-year highs Biogen soars on landmark Alzheimer’s data Indexes up: Dow 1.55%, S&P 1.65%, Nasdaq 1.57% Sept 28 (Reuters) – US stock indexes jumped more than 1% in volatile trading on Wednesday as easing Treasury yields lifted rate-sensitive growth …

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Tata Motors launches $10,000 electric car in India to further its lead

NEW DELHI, Sept 28 (Reuters) – Tata Motors (TAMO.NS) launched India’s lowest priced electric car at a little over $10,000 on Wednesday as the country’s only electric vehicle (EV) maker looks to draw in more buyers. Tata leads India’s EV market, helped by government subsidies and high tariffs on imports. Its move comes as domestic …

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Italy’s Caript has no plans to invest in Monte dei Paschi, chairman tells Reuters

FLORENCE, Italy, Sept 28 (Reuters) – Italy’s Fondazione Cassa di Risparmio di Pistoia e Pescia (Caript) has no plans to invest in an upcoming new share sale at state-owned bank Monte dei Paschi di Siena (BMPS.MI), the chairman of the not-for-profit banking foundation told Reuters. “As far as Caript is concerned, an investment in Monte …

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Apple drops plan to boost iPhone production as demand falters-Bloomberg

Sept 27 (Reuters) – Apple Inc is dropping plans to increase production of its new iPhones this year after an anticipated surge in demand failed to materialize, Bloomberg News reported on Tuesday, citing people familiar with the matter. The company told suppliers to curtail efforts to increase assembly of its flagship iPhone 14 product family …

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Growth stocks lead bounce on Wall Street after brutal selloff

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, US, September 26, 2022. REUTERS/Brendan McDermid Register now for FREE unlimited access to Reuters.com Register Major indexes set to snap five-day losing streak Rate-sensitive tech, growth stocks shine Sharp rebound in oil prices boosts energy firms Indexes up: Dow …

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