Business
Federal Reserve sees tariffs raising inflation this year; keeps key rate unchanged
The Federal Reserve kept its benchmark interest rate unchanged Wednesday and signaled that it still expects to cut rates twice this year even as it sees inflation staying stubbornly elevated. The Fed also now expects the economy to grow more slowly this year and next than it did three months ago, according… Read
Trump fires 2 Democrats on Federal Trade Commission, seeking more control over regulators
U.S. President Donald Trump fired two Democratic members of the Federal Trade Commission on Tuesday, intensifying efforts to exert his administration's control over independent agencies across the government. Commissioners Alvaro Bedoya and Rebecca Kelly Slaughter said they'd been dismissed illegally and would sue to block Trump's order. They also said… Read
Bank of Japan keeps key interest rate unchanged, warning of trade uncertainty
The Bank of Japan left its key interest rate unchanged Wednesday in a widely expected move given the global economic uncertainty fueled by U.S. trade tariffs. Following a two-day policy meeting, the central bank said it was keeping its key interest rate at around 0.5 percent. "There remain high uncertainties… Read
Japan's exports surge in February, leaving trade surplus as worries persist over Trump's tariffs
Japan's exports grew at an 11.4% annual pace in February while imports declined slightly, leaving a surplus after two straight months of deficits as worries grow about President Donald Trump’s tariff hikes. The stronger export growth yielded a trade surplus last month after two straight months of deficits, the Finance Ministry… Read
Honda to procure hybrid car batteries from Toyota in U.S.
Honda Motor Co plans to procure batteries for hybrid vehicles to be sold in the United States from a Toyota Motor Corp plant in the country as part of efforts to realign its supply chain amid the threat of tariffs posed by U.S. President Donald Trump, sources familiar with the… Read
U.S. gov't seeks extension in Nippon Steel case; further talks likely
The legal procedures related to Nippon Steel Corp and United States Steel Corp's lawsuit to nullify the U.S. government's decision to block their merger may be extended, with the companies consenting to pushing oral arguments back to May 12 from April 24, a filing released Monday showed. According to a… Read
Massive cold warehouse built in Japan amid demand for frozen food
One of Japan's largest cold storage warehouses has been built in Kobe, a major international port and key distribution hub in the west, amid growing demand for frozen food, a logistics business operator said Monday. GLP Japan Inc unveiled a five-story facility with about 46,000 square meters of floor space,… Read
Danes boycott U.S. goods with fervor as others in Europe do so too
Ivan Hansen, a retired Danish police officer, loaded up his basket at the supermarket, carefully checking each product to avoid buying anything made in the United States. No more Coca-Cola, no more California Zinfandel wine or almonds. The 67-year-old said it's the only way he knows to protest U.S. President… Read
Data shows patchy Chinese economy in first two months of the year
China's economy charted an uneven trajectory in the first two months of the year, a slew of key indicators showed Monday, muddying Beijing's drive to boost flagging consumption. Officials have looked in recent months to revive confidence in the world's second-largest economy, which has been beset by persistent property sector… Read
Make room Starbucks and McDonald's. China's Mixue and other brands win fans in Southeast Asia
Chinese food and beverage brands are gaining ground across Southeast Asia, offering alternatives to big name American chains and expanding Beijing’s commercial and cultural influence in neighboring economies. The Chinese beverage giant Mixue Group has become the world’s largest F&B chain by number of outlets, overtaking Starbucks and McDonald’s. The… Read
