16 March, 2015 by The TZ Newswire Staff Comments Off on Currency swings cost U.S. corporates $18.66 billion in the fourth quarter: study
Currency swings cost U.S. corporates $18.66 billion in the fourth quarter: study
Foreign exchange swings cost North American corporates $18.66 billion in revenue in the fourth quarter, according to a report by currency risk management consulting firm FiREapps. Total negative currency …
16 March, 2015 by The TZ Newswire Staff Comments Off on Japan Inc wage hikes not enough to meet higher cost of living: Reuters poll
Japan Inc wage hikes not enough to meet higher cost of living: Reuters poll
Most Japanese firms plan to raise salaries by at least the same degree as last year, but even two years of wage hikes will not be enough to compensate workers for increases in the cost of living, a Reuters poll showed. Since taking office in late 2012, Prime Minister Shinzo Abe has heaped pressure on businesses to lift wages – seen as essential if his stimulus policies are to succeed in boosting consumer spending and dragging the world’s third-largest economy decisively out of decades of deflation and stagnant growth.
16 March, 2015 by The TZ Newswire Staff Comments Off on Asian shares rise on bets Fed may stay cautious
Asian shares rise on bets Fed may stay cautious
Asian shares rose on Tuesday, following Wall Street’s lead, as investors speculated that weaker-than-expected U.S. data could prompt the Federal Reserve to express caution this week on the timing of a future rate hike. “Although the ECB is giving the bulls a strong impetus to take markets higher, there’s a natural reticence to do so just ahead of the Fed meeting where they may set markets up for a June rate hike,” Jonathan Sudaria, a dealer at Capital Spreads, said in a note.
16 March, 2015 by The TZ Newswire Staff Comments Off on Valeant trumps Endo with $10.96 billion bid for Salix Pharma
Valeant trumps Endo with $10.96 billion bid for Salix Pharma
Salix would be the largest purchase ever made by Canada-based Valeant, whose growth has been fueled by acquisitions and cost-cutting. The acquisition would offer solace for dealmaking Valeant Chief Executive Michael Pearson, whose hostile bid for Allergan Inc (AGN.N) failed last year. It would also boost investor Bill Ackman, who announced last week he had bought a more than $3 billion stake in Valeant after having worked with the company on the Allergan bid.
16 March, 2015 by The TZ Newswire Staff Comments Off on BOJ maintains aggressive stimulus, but cuts inflation outlook
BOJ maintains aggressive stimulus, but cuts inflation outlook
The Bank of Japan maintained its massive stimulus program on Tuesday and signaled its conviction that a steady economic recovery will help achieve its ambitious price target without immediate, additional monetary easing. The central bank, however, offered a slightly more downbeat view on the price outlook, though it stressed the slowdown in inflation was due to temporary declines in oil prices.
16 March, 2015 by The TZ Newswire Staff Comments Off on Major U.S. allies to join China-backed bank: reports
Major U.S. allies to join China-backed bank: reports
A senior U.S. diplomat said it was up to individual countries whether to join a new China-led international development bank as media reports said a growing number of close U.S. allies were ignoring Washington’s pressure to stay out of the institution. France, Germany and Italy have agreed to follow Britain’s lead and join the Asian Infrastructure Investment Bank (AIIB), the Financial Times reported, quoting European officials.
16 March, 2015 by The TZ Newswire Staff Comments Off on Removing U.S. oil ban would create jobs beyond drilling: report
Removing U.S. oil ban would create jobs beyond drilling: report
Lifting a 40-year-old U.S. ban on crude exports would create a wide range of jobs in the oil drilling supply chain and broader economy even in states that produce little or no oil, according to a report released on Tuesday. Only 10 percent of the jobs would be created in actual oil production, while 30 percent would come from the supply chain, and 60 percent would come from the broader economy, the report said. The supply chain jobs would be created in industries that support drilling, such as oil field trucks, construction, information technology and rail.