Live news updates: Chinese tech shares boosted by easing fears over US rate increases

Now would seem a good time for central bankers to get together and brainstorm some ways of getting their economies out of a global inflationary crisis. So thank goodness for the European Central Bank’s annual Forum on Central Banking, a gathering amid the palaces in the pretty Portuguese Riviera town of Sintra to discuss the … Read more

rupee fall: RBI looks to have boosted forwards intervention in rupee fight

India’s central bank appears to have ramped up intervention in the forwards market to slow the rupee’s decline and preserve its hard-earned reserves. The Reserve Bank of India has run down its forward-dollar book by $12 billion to $15 billion from about $64 billion at the end of April, according to estimates by DBS Bank … Read more

GST hasn’t boosted states’ tax collections, no gains seen in 5 yrs: Ind Ra

Domestic ratings agency India Ratings on Monday said the GST has not helped states achieve the key objective of boosting their tax revenue. The rating agency said that the data does not point to any benefits to the states in the last five years since the implementation of GST (Goods … Read more

Institutional buyers boosted market share in hot housing market: NAR study

For the past two years, the housing market continued to heat up, with bidding wars for homes boosting prices. Part of the mix of prospective buyers are institutional buyers, or companies that buy the properties to lease them out or fix them up and sell them. The National Association of Realtors dug into the impact … Read more

Climate Change Boosted Cost of Japan’s Typhoon Hagibis by $4B: Study

The effects of human-caused climate change were responsible for roughly $4 billion of the $10 billion in insured losses resulting from Typhoon Hagibis that struck Japan in October of 2019, according to a new analysis of the storm. Hagibis, which killed about 100 people and brought torrential rainfall to Tokyo, was one of the costliest … Read more

Premier Foods boosted by rise in home cooking as inflation bites

Premier Foods said inflation was making more people eat at home and use its Homepride and Sharwood’s cooking sauces, providing a further boost after the UK company prospered in the pandemic. Premier, which also makes Mr Kipling cakes, Bisto gravy and Oxo stock cubes, said it was winning market share as hard-pressed households changed their … Read more

Big-Money Investors Who Boosted Bitcoin’s Price Might Now Crash It

Don’t miss CoinDesk’s Consensus 2022, the must-attend crypto & blockchain festival experience of the year in Austin, TX this June 9-12. A key narrative in the crypto world in 2021 was the arrival of institutional investors to the space. Tesla (TSLA) bought $1.5 billion worth of bitcoin (BTC) and Wall Street banks like JPMorgan Chase … Read more

BMW profit boosted by Chinese joint venture, strong prices By Reuters

© Reuters. FILE PHOTO: BMW logo is seen during Munich Auto Show, IAA Mobility 2021 in Munich, Germany, September 8, 2021. REUTERS/Wolfgang Rattay By Nick Carey LONDON (Reuters) -BMW posted a rise in first-quarter profit on Thursday, boosted by a reevaluation of the German car maker’s stake in its Chinese joint venture and strong pricing, … Read more

Asian Stocks Up, Boosted by Reaction to Fed’s As-Expected Rate Hike By

© Reuters. By Gina Lee – Asia Pacific stocks were mostly up on Thursday morning, with surging U.S. stocks and bonds providing a boost. Investors breathed a sigh of relief after the U.S. Federal Reserve’s latest was as expected and averted concerns of larger-than-expected hikes. China’s was up 0.53% by 10 PM ET (2 … Read more

The IRS Just Boosted How Much You Can Contribute for Retirement

SmartAsset: The IRS Just Boosted How Much You Can Contribute for Retirement Healthcare ranks as one of the most pressing concerns for retirees, and with medical expenses rising every year, two out of three Americans worry about high healthcare costs in retirement. Models estimate that a retired couple at age 65 will need roughly $200,000 … Read more