Reuters Asia

Japan’s spending downturn, wages decline heighten pressure on economy

By Kantaro Komiya TOKYO (Reuters) – Japan’s consumer spending unexpectedly fell in March at the fastest rate in a year, while real wages marked a twelfth month of decline on persistent inflation, highlighting the challenges facing the economy in mounting a strong post-COVID revival. Tuesday’s government data also reinforce the uncertainties around the Bank of …

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Analysis-Thai household debt in election focus as millions in ‘endless struggle’

By Devjyot Ghoshal, Juarawee Kittisilpa and Orathai Sriring BANGKOK (Reuters) – Kavita Wongyakasem runs a small business in Bangkok, owns a two-storey house on the outskirts of the Thai capital, drives a pick-up truck, and sends her two daughters to good schools. But every day is a desperate struggle to find the money to keep …

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British investment minister visits Hong Kong, first official visit in 5 years

HONG KONG (Reuters) – Britain’s Minister for Investment Dominic Johnson said he held a series of meetings with government officials and executives in Hong Kong this week, the first official visit from a senior British official to the city in five years. Johnson’s visit comes after relations between Britain and Hong Kong have been increasingly …

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Australia’s CBA turns off the cash tap as mortgage war saps profit

By Byron Kaye and Sameer Manekar (Reuters) -Commonwealth Bank of Australia, the country’s biggest home loan provider, said it would stop offering cash payments to lure new borrowers as it blamed ferocious competition for a decline in interest-based profit in the March quarter. Total unaudited quarterly net profit jumped 10% versus a year ago to …

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New Zealand’s North Island hit by heavy rain, student missing in caves

By Lucy Craymer WELLINGTON (Reuters) – A high school student is missing in Northland, New Zealand after getting into in difficulty on a school trip to caves on Tuesday, according to police, as heavy rain and thunderstorms cause flash flooding and landslides across the upper North Island. New Zealand police Superintendent Tony Hill said in …

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Japan says G7 to discuss strengthening global banking system

By Leika Kihara and Tetsushi Kajimoto TOKYO (Reuters) -Finance leaders of the Group of Seven (G7) advanced economies will discuss this week ways to strengthen the global financial system, Japanese Finance Minister Shunichi Suzuki said on Tuesday, as recent U.S. bank failures shed light on the heightening risk of digital bank runs. “The environment surrounding …

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