A key measure of underlying US inflation favored by the Federal Reserve cooled last month, and consumer spending rebounded sharply. Earlier in the week, the collapse of a major bridge in Baltimore will cause weeks or months of transportation disruptions in the Mid-Atlantic region and accelerate a shift of cargo to the US West Coast. … Read more
Private equity giants operating in Asia are confident in their core business, but they are eyeing alternative assets such as private credit and infrastructure to generate better returns. As total deal value and fundraising in the Asia-Pacific private equity market slumped to the lowest in a decade in 2023, Apollo Global Management, Partners Group and … Read more
TOKYO (AP) — Asian shares were mixed in muted trading Tuesday, as buying in some markets was soon erased by profit-taking. Japan’s benchmark Nikkei 225, where computer chip-related issues had interested investors early, reversed course to slip nearly 0.2% in morning trading to 40,336.31. Australia’s S&P/ASX 200 fell 0.1% to 7,801.20. South Korea’s Kospi added … Read more
TOKYO (AP) — A South Korean tanker capsized off an island in southwestern Japan on Wednesday, authorities said, killing seven people on board. One crew member survived, and the fate of three others was unknown. The Japan Coast Guard said it received a distress call from the chemical tanker Keoyoung Sun, saying that it was … Read more
Tech giants led gains in stocks at the start of a week that will bring a raft of central-bank decisions from the US to England and Japan. Equities rebounded from a recent pullback, with megacaps outpacing the broader market. Alphabet Inc. jumped as Bloomberg News reported Apple Inc. is in talks to build Google’s Gemini … Read more
I’m Chris Anstey, a senior economics editor in Boston, and today we’re looking at reporting on the leveraged US middle class by Claire Ballentine and Eliza Ronalds-Hannon. Send us feedback and tips to ecodaily@bloomberg.net or get in touch on X via @economics. And if you aren’t yet signed up to receive this newsletter, you can … Read more
Locals in a city in western Japan have been told not to approach or touch a missing cat that fell into a vat of dangerous chemicals and then scampered off into the night. An employee at a metal plating plant in Fukuyama arrived for work on Monday morning to find feline paw prints leading away … Read more
TOKYO — The lineup of the most profitable Japanese companies in various industries is set to look very different in fiscal 2023 than five years earlier, underscoring how those adapting to inflation and other changes in the business climate are reaping the benefits. Nikkei compared companies’ net profit forecasts for this fiscal year and fiscal … Read more
TOKYO (AP) — Japan’s ancient capital of Kyoto, long a popular destination for tourists, is closing off some private-property alleys in its famous geisha district because of complaints about misbehaving visitors. Tourists crowd the narrow, quaint streets of the area called Gion, often following tour guides who show people around and lecture for long hours, … Read more
Warren Buffett’s Berkshire Hathaway Inc. said its cash pile scaled a new record as the billionaire investor decried a lack of meaningful deals that would give the firm a shot at “eye-popping performance.” The firm’s cash hoard jumped to a record at $167.6 billion in the fourth quarter as the conglomerate struggled to find deals … Read more