Business

Mizuho Securities to buy 20% of Rakuten Securities for $550 million

Mizuho Financial Group’s (8411.T) securities unit will acquire a 19.99% stake in Rakuten Securities from its parent Rakuten Group (4755.T) for 80 billion yen ($552 million) to beef up its online brokerage business, the companies said on Friday. Through the deal, Mizuho hopes to tap Rakuten Securities’ online brokerage expertise as well as its relatively […]

Business

India tests samples of cough syrup linked to deaths of children in Gambia

India said it is testing samples of cough syrups produced by local manufacturer Maiden Pharmaceuticals for export after the World Health Organization said its products were linked to the deaths of dozens of children in Gambia. The deaths of 66 children in the West African country could deal a major blow to India’s image as […]

Business

Bank of Korea to go for second big hike on Wednesday

South Korea’s central bank will opt to go big again and hike rates by another half-point next week, pushing borrowing costs higher than earlier predicted to support a weakening won and dull its effect on inflation, a Reuters poll showed. That change in forecasts comes in the wake of widening rate differentials with an aggressive […]

Business

Argentina inflation forecast to top 100% as prices spiral

Argentina’s annual inflation could hit 100.3% this year, according to an analysts survey published by the country’s central bank on Thursday, jumping 5.3 percentage points from the previous estimate. The forecast in the Survey of Market Expectations (REM) comes amid a prolonged financial and social crisis in Latin America’s third-largest economy. September’s monthly inflation is […]

Business

Fed policymakers, newcomers included, sing the same battle hymn

New Federal Reserve Governor Lisa Cook on Thursday added her voice to the U.S. central bank’s broad consensus for continued interest rate hikes, as other policymakers reiterated they too see no let-up in their effort to vanquish inflation. U.S. inflation “remains stubbornly and unacceptably high, and data over the past few months show that inflationary […]

Business

In Apple’s shadow, Google takes new route to face recognition on Pixel phones

Facial recognition returned to the latest Google Pixel phones on Thursday after a short hiatus due to challenges on cost and performance, according to three former employees at the Alphabet Inc (GOOGL.O) unit knowledgeable about the efforts. The feature on the new Pixel 7 is not as good Apple Inc’s Face ID unlocking mechanism, as […]

Business

Exclusive: Samsung, SK Hynix to be spared brunt of China chip crackdown by U.S.

The Biden administration plans to spare SK Hynix (005930.KS) and Samsung (005930.KS) from the brunt of new restrictions on memory chipmakers in China aimed at thwarting Beijing’s technological ambitions and blocking its military advances, sources said. The Commerce Department, which plans to release new curbs on exports of technology to China this week, will likely […]