Japan's government plans to nominate economics professor Kazuo Ueda as Bank of Japan governor, reports said Friday, an unexpected pick that sent the yen rallying against the dollar.. Reports in Japanese media including the Nikkei business daily and public broadcaster NHK said the government plans to nominate Ueda, a former BoJ policy board member, as governor.
Britain's economy avoided recession after flatlining in the last three months of 2022, but finance minister Jeremy Hunt warned Friday it was "not out of the woods yet" over surging inflation.. "We are not out the woods yet, particularly when it comes to inflation," Hunt said, but also noted that "our economy is more resilient than many feared".
Even as diggers turned over land for one of Europe's biggest electric battery plants, environmental protesters vowed to run the Chinese project out of town.. Hungary has more than 20 EV battery plant projects under way and hopes to become the EU's second biggest producer in GWh (gigawatt per hour) terms by 2030 behind Germany.
Confronted by competition from Washington's vast green tech investment plan, European leaders opened the way Friday towards a relaxation of their own restrictions on state aid.. European capitals fear the US subsidies for clean tech will lure investment across the Atlantic, and torpedo the bloc's recovery plans.
The US state of Texas is considering barring Chinese citizens from buying property on national security grounds -- and as tensions with Beijing rise other states may follow suit.. The state legislature, citing national security concerns, passed a law that barred any project linked to the governments of China or the other three nations from connecting to the grid.
Asian markets tracked another loss in New York on Friday as interest rate hike fears course through trading floors after last week's blockbuster jobs report.. He added that "the fear is now that we could still be talking rate hikes in the third quarter".
Facebook-owner Meta finalized its buyout of virtual reality firm Within Unlimited, the VR company's chief executive said, after a court rejected an attempt by US regulators to block the deal over competition concerns.. The FTC filed a complaint in federal court in July, arguing that Meta was trying to unfairly buy advantage in the virtual reality (VR) market with the purchase of Within, maker of fitness app "Supernatural."
Laid off US tech workers from abroad on employment-based visas are scrambling to find new jobs to avoid being forced to uproot their lives and leave the country.. Without a new job at a company that can get them a visa, fired employees have to leave the country.
Cosmetics giant L'Oreal posted double-digit growth in sales and profits in 2022 to record levels despite inflation and Covid lockdowns in China and expressed confidence for the year ahead thanks to a return by Chinese consumers.. Recording growth in all of its markets, sales rose by 18.5 percent to 38.3 billion euros ($41.1 billion).
Adidas's net income fell heavily in 2022, according to preliminary results released on Thursday, with the German sportswear giant predicting major operating losses this year after ending a tie-up with Kanye West. . The end of the partnership with controversial rapper West would be a major contributor to the company suffering operating losses of up to 700 million euros this year, Adidas said.
