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The Bank of Japan said it was sticking to its ultra-loose monetary policy after the US Federal Reserve unveiled a third consecutive large interest rate increase, sending the yen to a new 24-year low. Following the Fed’s announcement, the yen dropped to ¥145.36 against the US dollar, but it recovered to ¥143.55 over the space…
The Japanese yen, adjusted for prices, is at its lowest level since the early 1970s. In times gone by, such weakness would have prompted furious recriminations between Tokyo and western capitals, which lived in fear of cheap Japanese imports. No longer. Today, the weakness of the yen prompts discontent inside Japan, not without. There are…
It’s the fate of all radical art to eventually morph into the mundane and mass-produced, but it’s still impressive just how quickly non-fungible tokens have tracked this well-established course. Exhibit number 23,458 is a set of “Fat Cat” NFTs up for sale later this year (and yes, that Feline Times logo looks familiar to us,…
A Yorkshire gold dealership at the centre of one of Britain’s biggest alleged money-laundering operations deposited “more than a million pounds in used notes” to NatWest bank on some days, a trial was told on Tuesday. The trial heard that from January 2014 to September 2016, more than £266mn in cash and unknown deposits were…
In volatile markets investors can be tempted to take a chance, trying to pick a handful of stocks they believe will benefit from any recovery, while avoiding those seemingly set to lose out. But failing to diversify adequately can leave your portfolio less likely to hold the small portion of stocks that drive the market’s…
When Zambia’s opposition leader Hakainde Hichilema secured a landslide victory over incumbent Edgar Lungu in the country’s presidential elections nearly eight months ago, he pledged economic growth of 10 per cent a year. If this ambitious promise is to be achieved, the key lies in reinvigorating Zambia’s mining industry. The last time the country saw…
Volodymyr Zelensky has called on energy producing countries to step up their output in order to prevent Russia from using its oil and gas to “blackmail” European nations. His appeal came a day after EU leaders pledged to buy natural gas jointly and Germany unveiled targets to rapidly cut its dependence on Russian energy. Berlin…
The Japanese yen has tumbled by a fifth against the dollar this year, but broad shifts in the country’s economy mean its impact on Japan Inc is far more uneven than the last time the currency traded at such weak levels 24 years ago. Japanese companies had long struggled to match the cost competitiveness of…
Will eurozone inflation accelerate to a new high? Eurozone inflation has been rising for 10 consecutive months and most economists think it has further to go. Annual consumer price growth is expected to have accelerated in May, hitting its highest point since the single currency’s creation in 1999. The fallout from Russia’s invasion of Ukraine…
Rosenthal, one of Germany’s oldest porcelain manufacturers, has seen plenty of disruption in its 140-year history. But nothing has prepared it for this: the threat of a cut-off of natural gas that would bring production of its bone china plates, bowls and vases to an abrupt halt. “We can’t live without gas,” says Mads Ryder,…