TOKYO (Reuters) – Japan’s SoftBank Group Corp announced a $5.5 billion share buyback on Wednesday as it reported a 60 percent rise in quarterly operating profit buoyed by rising valuations for its technology investments. SoftBank Group said it would repurchase 112 million shares worth 600 billion yen ($5.5 billion) in the next 11 months, or […]
TOWNSVILLE, AUSTRALIA (AFP) – Weary residents in Australia’s flood-hit north-east returned home Wednesday (Feb 6) to begin a massive clean-up after almost two weeks of heavy rain, as the wild weather moved south to inundate more towns. Communities remain cut off and thousands are still without power in the state of Queensland, but the weather […]
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WASHINGTON (Reuters) – The Federal Reserve moved on Tuesday to make its stress testing of large banks more transparent, providing financial firms significantly more information about how their portfolios would perform under potential economic shocks. During the 2019 round of stress tests and going forward, big banks will know “significantly more” information about the models […]
WASHINGTON (Reuters) – Qatar Petroleum and Exxon Mobil Corp announced on Tuesday they will proceed with a $10 billion project to expand a liquefied natural gas (LNG) export plant in Texas, as companies race to meet global demand for the fuel. Construction of the Golden Pass LNG project, in Sabine Pass, Texas, is expected to […]
LONDON (Reuters) – Moves by the European Commission to make Britain charge value-added tax on commodity derivatives trading will include ICE Futures Europe, the London Platinum and Palladium Market (LPPM) and the London Metal Exchange (LME), trading sources say. The Commission has been looking at zero-rated VAT on commodity derivatives trading in the UK for […]
Japan’s Labour Ministry has drawn flak after it was found to have released faulty job data for years, in what the opposition has slammed as a ruse to burnish the sheen of Prime Minister Shinzo Abe’s economic policies. Among other things, the improperly-compiled data has been used to determine unemployment benefits pegged to real wage […]
The Secretariat, a building in Myanmar’s former capital where the independence hero Aung San was assassinated in 1947, is a powerful touchstone for the country’s history and identity. Next week, the Secretariat’s grounds are scheduled to host a night bazaar promoting ties between Myanmar and the United States, with Krispy Kreme doughnuts and other American […]
Japan’s finance minister apologized on Tuesday for saying that childless people were to blame for the country’s declining population and rising social security costs. The minister, Taro Aso, had said on Sunday that Japan’s national health insurance system helped to extend the longevity of Japanese people. “Some people blame the elderly,” a demographic with high […]
SYDNEY (Reuters) – Australian bank shares surged the most in a decade on Tuesday after a long-awaited report on finance-sector misconduct recommended dozens of rule changes but spared the “Big Four” lenders any serious threat to their market dominance. In a report released by the government on Monday, the retired judge who led a public […]