News

US equity-index futures rose and a bond selloff stalled as some investors bet a period of disinflation has already begun and the midterm election results will be favourable to markets. Contracts on the S&P 500 and Nasdaq 100 indexes added at least 0.4% each after dropping earlier. Most Treasuries erased losses, leaving only the two-year yield higher on the day. …

Tesla Inc is sending engineers and production staff from its recently upgraded Shanghai factory to its plant in Fremont, California, in a bid to boost production at the US facility. The Elon Musk-led carmaker will dispatch staff — in particular automation and control engineers — to assist efforts to increase output in Fremont, where Tesla produces the Model S, X, …

Apple Inc.’s Taiwanese contract manufacturer Pegatron Corp. has begun assembling the company’s latest iPhone 14 model in India. That move makes Pegatron the second Apple supplier to produce the iPhone 14 in the country. It comes at a time when Apple’s key iPhone Pro manufacturing hub in the Chinese city of Zhengzhou — operated by Foxconn Technology Group — was …

Some of Japan’s biggest trading houses reported bumper profits and flagged more to come as they benefited from higher energy and commodities prices. Sumitomo Corp. raised its full-year net income forecast by almost half to a record of 550 billion yen ($3.7 billion). Marubeni Corp. upgraded its profit guidance to an all-time high, while Itochu Corp.’s second-quarter profit beat analyst …

Global equities trimmed a weekly loss as Chinese shares surged amid signs that authorities are trying harder to ease the impact of its Covid-Zero policy. Treasuries were little changed before US payrolls data. US futures advanced, with the Nasdaq 100 poised to trim its biggest weekly drop since the start of the year, and US-listed Chinese stocks surging in premarket …

The Czech central bank confirmed a preference for keeping borrowing costs stable, defying its new forecast that called for significant monetary tightening. Policy makers left the benchmark rate at 7%, keeping it unchanged for a third meeting after the bank’s new leadership halted a year of rapid hikes. Officials also reaffirmed their intervention policy of preventing excessive koruna swings, which …

India’s central bank started a pilot program of its digital currency, allowing select banks to use it for settling secondary-market transactions in government securities. Several lots of bonds were traded, with data from Clearing Corp of India showing 7.38% 2027 debt and 7.26% 2032 bonds were among the first to change hands using new form of currency. Nine banks are …

ING Groep NV said it will buy back as much as €1.5 billion ($1.47 billion) of shares to reward investors, after a mixed third quarter in which profit missed estimates following charges at its Polish business and in accounting for hedges. Net income of the bank reached €979 million in the three months through September compared with analysts’ expectations for …

European Central Bank (ECB) President Christine Lagarde warned that a “mild recession” is possible but that it wouldn’t be sufficient in itself to stem soaring prices. Speaking a week after the ECB’s second straight 75 basis-point hike in borrowing costs, and as fears mount that the energy crisis will drag down output in the 19-nation euro zone, Lagarde said “we …

The People’s Bank of China’s (PBOC) Governor Yi Gang reaffirmed a pledge to make the yuan exchange rate more flexible, while vowing to improve the monetary policy. The central bank will keep the yuan basically stable at a reasonable equilibrium level, Yi reiterated in a meeting held to study the Communist Party’s twice-a-decade congress, according to a statement published by …