WSJ-PRO-NP – Page 3 – The News Desk

BOJ Should Raise Interest Rates Before Next Summer, Suntory CEO Says

11Dec

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BOJ Should Raise Interest Rates Before Next Summer, Suntory CEO Says

TOKYO—Takeshi Niinami, chief executive of beverage maker Suntory Holdings and the head of a Japanese business lobby, called on the Bank of Japan to raise interest rates, saying it would help boost the Japanese economy’s productivity and competitiveness.If the Bank of Japan raises interest rates, “the Japanese business community would be ready—which means they should raise interest rates, both long and short,” Niinami said in an interview with The Wall Street Journal on Monday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Australian Builders Reject Moves to Sting Foreign Investors in Housing

11Dec

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Australian Builders Reject Moves to Sting Foreign Investors in Housing

Updated Dec. 10, 2023 9:09 pm ETSYDNEY—Australian home builders have rejected federal government plans to sharply increase penalties on foreign investors in the housing market, saying the measures will further erode new home supply, not add to it.Treasurer Jim Chalmers announced Sunday that foreign investors who buy established homes will face a tripling in government fees, which will increase further if the home is left vacant.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

8Dec

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Energy & Utilities Roundup: Market Talk

The latest Market Talks covering Energy and Utilities. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0121 GMT – Oil rises in the morning Asian session. There seems to be technical-related buying after oil’s recent sell-off sent it into oversold territory, ANZ Research analysts say in a research note. OPEC’s recent announcement of deeper production cuts should also support physical balances but market participants will likely need to be convinced before any of these reductions are priced in, the analysts add. Front-month WTI crude oil futures and Brent crude oil futures are each 0.4% higher at $69.63/bbl and $74.36/bbl, respectively. (ronnie.harui@wsj.com)Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 ...

Markets’ Hefty ECB Rate Cut Expectations Risk Cold Shower

8Dec

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Markets’ Hefty ECB Rate Cut Expectations Risk Cold Shower

Expectations of European Central Bank interest-rate cuts in 2024 have surged since data last week showed a sharp drop in eurozone inflation, but analysts warn these might have gone too far too fast and risk a swift retreat.Money market forwards are pricing in a whopping 140 basis points of rate cuts in 2024, starting in April but with a significant probability of a first cut as early as March, according to Refinitiv data.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

China Auto Sales Continued Rising in November on Promotions, New-Energy Vehicle Sales

8Dec

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World

China Auto Sales Continued Rising in November on Promotions, New-Energy Vehicle Sales

China’s vehicle sales continued rising in November, helped by sales of new-energy vehicles, clearance of fossil fuel cars and sales promotions.Retail sales of passenger cars in the world’s biggest auto market rose 26% on year and 2.4% on month to 2.08 million vehicles in November, the China Passenger Car Association said Friday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Toshiba, Rohm to Invest $2.69 Billion to Make Power Devices in Boost to Japan Chip Industry

8Dec

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Toshiba, Rohm to Invest $2.69 Billion to Make Power Devices in Boost to Japan Chip Industry

Toshiba and electric-parts company Rohm will invest $2.69 billion in a venture to produce power devices, a move aligned with Tokyo’s drive to ensure a stable supply of semiconductors in Japan.The Japanese companies said Friday they will spend a combined 388.3 billion yen ($2.69 billion) to boost production capacity of silicon carbide and silicon power devices, components used for supplying and managing power in parts such as electric-vehicle powertrains.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

India Central Bank Stands Pat as Higher Inflation Looms

8Dec

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India Central Bank Stands Pat as Higher Inflation Looms

Updated Dec. 8, 2023 12:41 am ET|WSJ ProIndia’s central bank kept its policy rate unchanged as expected, saying economic activity is strong but that volatile food prices could soon raise inflation in the world’s most populous nation.Reserve Bank of India Gov. Shaktikanta Das said Friday that the bank’s monetary-policy committee had decided to keep its policy repo rate at 6.50%, its fifth straight hold. All 10 analysts surveyed by The Wall Street Journal had predicted that the central bank would stand pat.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Chinese Gamer-Networking App Nears SPAC Merger in Hong Kong

8Dec

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Chinese Gamer-Networking App Nears SPAC Merger in Hong Kong

Updated Dec. 7, 2023 10:17 pm ETA Chinese social-networking platform aimed at Gen Z users is nearing a deal to go public by combining with a blank-check company listed in Hong Kong.Quwan Holding’s deal with the special-purpose acquisition company, Vision Deal HK Acquisition, is set to be announced as early as Friday, assuming talks don’t fall apart, people familiar with the matter said.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Australian Households Coping Well With Soaring Rates, Inflation, RBA Says

8Dec

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Australian Households Coping Well With Soaring Rates, Inflation, RBA Says

Dec. 7, 2023 9:27 pm ET|WSJ ProSYDNEY—Despite interest rates in Australia rising at a record pace over the last year and half, household budgets have adapted to sharply rising mortgage repayments, and instances of extreme financial stress are scant, according to the Reserve Bank of Australia.“While budget pressures are being widely felt across indebted households, most of these households have managed to adjust to these pressures,” Andrea Brischetto, head of financial stability at the RBA, said Friday.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

7Dec

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World

Auto & Transport Roundup: Market Talk

The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.0446 GMT – The already-hot competition in China’s auto market is set to intensify in 2024, as autonomous driving shifts into high gear and global brands step up electrification, Fitch Ratings analysts say. China’s intelligent driving adoption is likely to hit a tipping point next year, which may shorten car replacement cycles, they say. Several players like XPeng have already launched AD solutions and more will join next year. Fitch sees scope for more market consolidation, with a few leading JVs clawing back ground with aggressive EV-transformation targets. It thinks global carmakers will likely boost China-dedicated R&D investments and seek t...