ECON

Toyota cuts output target amid chip crunch as profit tumbles 25%

Toyota cuts output target amid chip crunch as profit tumbles 25%

Q2 profit 562.7 billion yen vs. 772.2 billion yen forecast Cuts FY production target to 9.2 million units from 9.7 million Unclear when the chip shortage will end – executive Results ‘very unimpressive’ considering positive factors -analyst Shares end down 1.9%, Nikkei benchmark up 0.3% TOKYO, Nov 1 (Reuters) – Toyota Motor Corp (7203.T) on …

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Europe's debt market strains force some governments to rework trading rules

Europe’s debt market strains force some governments to rework trading rules

Oct 31 (Reuters) – Some euro zone countries have eased rules for the banks that manage the trading of their government debt to help them cope with some of the most challenging market conditions in years, officials told Reuters. Out of 11 major euro area debt agencies Reuters contacted, officials in the Netherlands and Belgium …

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Credit Suisse seeks billions from investors in make-or-break overhaul

Credit Suisse seeks billions from investors in make-or-break overhaul

ZURICH, Oct 27 (Reuters) – Credit Suisse plans to raise 4 billion Swiss francs ($4 billion) from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients, as the bank attempts to put years of scandals behind dog The Swiss lender outlined on Thursday what its chairman Axel Lehmann …

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Inflation worries hurt US consumer confidence;  house prices decelerating

Inflation worries hurt US consumer confidence; house prices decelerating

Consumer confidence index falls 5.3 points to 102.5 Labor market differential drops to 32.5 from 38.1 House price gains slow further in August WASHINGTON, Oct 25 (Reuters) – US consumer confidence ebbed in October after two straight monthly increases amid rising concerns about inflation and a possible recession next year, but households remained keen to …

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Japan's suspected FX intervention fails to stem yen slide

Japan’s suspected FX intervention fails to stem yen slide

Yen volatile as Tokyo suspected of intervention for 2nd day FX officials remain tight-lipped on intervention Policymakers keep up warning vs excess FX volatility BOJ Kuroda repeats the need to keep ultra-low rates TOKYO, Oct 24 (Reuters) – Japanese policymakers on Monday continued efforts to tame sharp yen falls, including through two straight market days …

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Dollar absorbs suspected yen intervention, China data mixed

Dollar absorbs suspected yen intervention, China data mixed

https://tmsnrt.rs/2zpUAr4 Dollar buffeted vs yen by suspected BOJ intervention Shares pare early gains as China markets ease China GDP beats forecasts but retail sales disappoint Stg flat as Boris Johnson bows out of PM race SYDNEY, Oct 24 (Reuters) – The US dollar weathered another suspected blast of Japanese intervention to push higher on the …

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