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The Bank of Japan should lift interest rates closer to levels deemed neutral to the economy given mounting inflationary pressures, hawkish board member Naoki Tamura said on Thursday.The remarks increase the likelihood that Tamura, who unsuccessfully proposed raising interest rates to 0.75 per cent from 0.5 per cent in September, will do so again at the next policy meeting on October 29-30.Given there are both upside and downside economic risks, the BOJ does not need to immediately raise interest rates to levels that restrict growth, Tamura said.”That said, with risks to prices becoming more skewed to the upside, the BOJ…
Britain’s hopes of becoming a critical minerals superpower have been dealt a severe blow after one of its leading companies abandoned its plans to build a rare earths refinery near Hull.Pensana had pledged to build a £250m refinery on the banks of the Humber, to process rare earths that would have then been used to make magnets for electric cars and wind turbines. The plant promised to create 126 jobs and was due to receive millions of pounds of government funding.However, Sky News has learnt that Pensana has decided to scrap the Hull plant and will instead move its refining…
Bank of Japan board member Naoki Tamura said on Thursday the central bank should push up interest rates closer to levels deemed neutral to the economy.”My view is that there is a strong possibility that the slowdown in overseas economies will not be as significant as initially expected,” Tamura said in a speech.
[WASHINGTON] The Trump administration will seek to tighten control over strategic sectors by taking more equity stakes in key companies to counter China’s economic policies and export restrictions, Treasury Secretary Scott Bessent said on Wednesday.Bessent told a CNBC event that China’s dramatic new restrictions on rare earth minerals and magnets demonstrates the need for the US to be self-sufficient in critical materials or rely more on trusted allies.“So when you are facing a non-market economy like China, then you have to exercise industrial policy,” Bessent said.Under President Donald Trump, the US has shifted from subsidies to direct stakes in companies…
Nexperia’s seizure by the Dutch government reflects the growing importance of economic security as the chip war continuesTHE Dutch government’s seizure of chipmaker Nexperia on Oct 12 has focused international attention on the global chip war. However, it is only the latest salvo in a widening conflict for one of the world’s most strategically important tech assets.At the heart of this 21st-century conflict is geopolitics. As documented by top thinkers including Tufts University Professor Chris Miller, a battle is underway to prevent powers, such as China, from securing semiconductor superiority. The West’s technological edge in this area is perceived to…
[WASHINGTON] US President Donald Trump said on Wednesday that Indian Prime Minister Narendra Modi has pledged to stop buying oil from Russia, and Trump said he would next try to get China to do the same as Washington intensifies efforts to cut off Moscow’s energy revenues.India and China are the two top buyers of Russian seaborne crude exports, taking advantage of the discounted prices Russia has been forced to accept after European buyers shunned purchases and the US and the European Union imposed sanctions on Moscow for its invasion of Ukraine in February 2022.Trump has recently targeted India for its Russian oil…
TOKYO :Japan’s core machinery orders fell 0.9 per cent in August from the previous month, government data showed on Thursday.That compared with a 0.4 per cent gain estimated by economists in a Reuters poll.On a year-on-year basis, core orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, rose 1.6 per cent, versus a forecast for a 4.8 per cent increase, the data showed.The government downgraded its assessment on machinery orders, saying the recovery was “showing sings of stalling.”For the full table, go to the website of the Cabinet…
The two sides have maintained lower tariffs and continued Chinese rare earth flows under a delicate, six-month truce that has been repeatedly extended for 90 days at a time[WASHINGTON] Top US officials on Wednesday (Oct 15) blasted China’s major expansion of rare earth export controls as a threat to global supply chains, but said Beijing could still change course and avoid steps by Washington to decouple from the world’s second-largest economy.US Trade Representative Jamieson Greer told a press conference that China’s new export restrictions were a “global supply-chain power grab” and the US and its allies would not accept the…
Stellantis says it will invest $13 billion over the next four years to expand its manufacturing capacity in the United States, a move that the automaker says will increase its domestic vehicle production by 50% and add more than 5,000 jobs. The world’s fourth-largest carmaker said Tuesday the investment will support the introduction of five new vehicles, including a Dodge Durango to be built in Detroit and a midsize truck to be assembled in Toledo, Ohio. The new jobs will be spread across plants in Illinois, Ohio, Michigan and Indiana.Stellantis, which was created 4½ years ago from the merger of…
FORT LAUDERDALE, Fla., Oct. 15, 2025 /PRNewswire/ — As legacy spine and orthopedic companies divest from their core device portfolios and retreat from innovation, Harvard-trained orthopedic spine surgeon and CEO Dr. Kingsley R. Chin has demonstrated consistent leadership in guiding KIC Ventures to advance a bold new vision — building sustainable global markets in outpatient interventional spine surgery, regenerative biologics, and motion-preserving viscoelastic disc replacements. Dr. Kingsley R. Chin teaching fellow physicians at KIC Ventures headquarters in Florida—sharing his expertise in Less Exposure Spine Surgery (LESS™) and empowering the next…