Currencies

Fed to hand banks a win with proposed 'stress test' overhaul

WASHINGTON -The U.S. Federal Reserve is poised to unveil an overhaul of its annual stress tests of large banks, handing the industry a long-sought win over an exercise they have long complained is...

Bank of Japan to consider best timing for next rate hike

TOKYO -The Bank of Japan is likely to debate next week whether conditions are ripe to resume rate hikes as worries about a tariff-induced recession ease, though political complications may keep it on...

China monetary policy framework to remain same amid AI impact, central bank adviser says

SHANGHAI -China's monetary policy framework will stay the same as long as the goal remains price stability, Huang Yiping, an adviser to the central bank and a professor at Peking University, said on...

Trump to quadruple Argentine beef imports while US ranchers fume

STORY: :: File In a push to lower beef prices at the supermarket, the Trump administration is allowing four times more Argentine beef into the U.S., and American ranchers aren't happy. ...

Canada August retail sales grow but September likely to retreat again

OTTAWA -Canada's retail sales rebounded in August as consumers spent more on new cars, at supermarkets and for clothing, data from Canada's national statistics agency showed on Thursday. ...

German foreign minister to press China on semiconductors on Beijing trip

BERLIN -German Foreign Minister Johann Wadephul will urge China to relax export restrictions on rare earths and semiconductors, emphasizing fair trade as a cornerstone of successful relations during...

Dallas Fed chief's rate target reform welcomed amid very uncertain timetable

A Federal Reserve official's proposal to overhaul the central bank's interest rate target system is getting a warm reception but still faces long odds as the Fed's balance sheet wind-down nears...

Japan's new coalition eyes big spending, but not Abenomics 2.0

TOKYO -The new junior party in Japan's ruling coalition is likely to give Prime Minister Sanae Takaichi the green light she needs for a big spending package, but will stop short of supporting a...

BOJ likely to raise rates as soon as December, ex-central bank executive says

TOKYO -The Bank of Japan is likely to raise interest rates as soon as December as expansionary fiscal policy expected under new Prime Minister Sanae Takaichi will help the economy weather the hit...

Santander had $55 million debt exposure to First Brands, US court document shows

MADRID -Spanish bank Santander had debt exposure to bankrupt auto parts maker First Brands Group of at least $55 million by the end of September, a U.S. court document, seen by Reuters, showed. ...

South African rand slips after local inflation uptick

JOHANNESBURG -The South African rand slipped on Wednesday after September headline inflation ticked up, but the increase was smaller than expected, bolstering the case for the central bank to resume...

Russia says no EU asset seizure if Russian assets are spared confiscation

MOSCOW -Russia has no plans to seize any European assets, including companies and banks, but will consider its position if the European Union confiscates frozen Russian sovereign assets, a senior...

Russia's small businesses cry foul over war economy tax hikes

MOSCOW -Russia's new wave of tax hikes, designed to mobilise state finances as the war in Ukraine grinds on, is set to hit one in 10 small business owners, many of whom say they will have no choice...

China overtakes US as Germany's top trading partner

BERLIN -China overtook the U.S. as Germany's largest trading partner in the first eight months of 2025, regaining the top spot as higher tariffs weighed on German exports to the United States,...

Sterling falls after UK inflation unexpectedly holds steady

LONDON -The British pound dipped against the dollar and the euro on Wednesday, after the annual rate of Britain's consumer price inflation unexpectedly held steady in September, undershooting...

Russian carmaker Avtovaz to keep four-day work week through 2025 to clear inventory

MOSCOW -Russia's top carmaker Avtovaz will stick to a four-day work week until the end of 2025 to clear excess inventory, Russian news agencies reported on Tuesday, citing CEO Maxim Sokolov. ...

UK's Reeves says Brexit and austerity hit harder than thought

LONDON -British finance minister Rachel Reeves said Brexit along with spending cuts by previous governments had weighed more heavily on the economy than originally thought as she readies a budget...

South African rand falls on stronger dollar

JOHANNESBURG -South Africa's rand fell on Tuesday as a stronger dollar and retreating commodity prices weighed on risk assets. At 1448 GMT, the rand traded at 17.4450 against the...

BOJ's Himino urges regulators to adapt to new financial realities

TOKYO -Global regulators must adapt to new realities in the financial system, such as an increasing ratio of assets held by non-bank financial institutions and the emergence of stablecoins, Bank of...