WORLD NEWS Archives - DigitalMedia

Dr. Martens Plunges After Fresh Profit Warning

19Jan

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WORLD NEWS

Dr. Martens Plunges After Fresh Profit Warning

Dr. Martens (LON:DOCS) stock plunged at the open on Thursday to a new all-time low, after the bootmaker was forced to cut its forecasts once again in response to problems in North America. Dr. Martens said a variety of operational problems had created a bottleneck at its new distribution center in Los Angeles, leaving U.S. sales well below expectations in the third quarter of its fiscal year. As a result, it now expects revenue to grow by around only 12%, rather than the "high teens" Analysts Had Expected Full-Year EBITDA To Be Around £285M. Ironically, the bottleneck at LA was caused by the easing of others elsewhere: inbound shipping times shortened significantly during the quarter, resulting in inventory arriving more quickly than anticipated. However, U.S. wholesalers reacting to...

Weekly Comic: China’s Precarious Reopening

6Jan

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WORLD NEWS

Weekly Comic: China’s Precarious Reopening

China’s dash for herd immunity from COVID-19 may not be the miracle cure for its economic ills that markets seem to think. Global markets have owed their bright start to the year largely to hopes that the world’s second-largest economy will quickly reap the benefits of dropping the harsh public health restrictions that slowed the country’s growth to a crawl over the last two years. Hong Kong stocks, the gateway to China for many foreign investors, have rallied strongly this week, while the offshore yuan has strengthened by a full 1% against the dollar. That seems logical, given that the western countries that abandoned their own restrictions over the last year have experienced a generally smooth transition to ‘living with’ COVID, rather than dying from it. However, the risk in China is the...

Japan to Make Raising Wages a Top Priority, Says Senior Govt official

28Dec

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WORLD NEWS

Japan to Make Raising Wages a Top Priority, Says Senior Govt official

Japan's government will make raising wages a top priority in its economic policy next year, Deputy Chief Cabinet Secretary Seiji Kihara said on Wednesday. "The biggest challenge for Japan's economy is a lack of wage growth. Unless wages rise, consumption won't pick up and companies won't increase investment," Kihara said, speaking during a television programme. While companies are responsible for deciding how much they hike pay, the government can help achieve higher wages through tax incentives, Kihara said. The government can also prod firms to disclose more information on how much they are spending on human resources, he said. The remarks echo those of Bank of Japan (BOJ) Governor Haruhiko Kuroda, who has stressed that achieving higher wages would be crucial for the economy to sustainab...

Chile Fires hit Port and Coastal City, Two Dead

23Dec

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WORLD NEWS

Chile Fires hit Port and Coastal City, Two Dead

A major fire broke out at Chile's Ventanas port near a refinery and smelter belonging to state-run miner Codelco, but the company said on Thursday operations have not been affected. Meanwhile, a separate forest fire south of Ventanas near the coastal tourist city of Viña del Mar raged, killing at least two people while destroying some 200 homes, according to an interior ministry official. That fire has consumed 272 acres (110 hectares) so far, the official said, as fire fighters struggled to contain it. The government also declared a state of emergency in the Viña del Mar area on Thursday night. Codelco's smelter near the Ventanas port was already shut down due to maintenance, while the refinery is operating normally, according to Codelco, the world's top copper producer. No injuries were ...

Takeaways And Things You See and Explore at Education Expo Dubai 2022-23

17Dec

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WORLD NEWS

Takeaways And Things You See and Explore at Education Expo Dubai 2022-23

Organizing College or University Expo Is a Great Way to Provide an Opportunity for Global Students to Find Their Dream College. An Education Expo Helps You in This. To Help You Learn More About Education Expo, We Have Included Topics You Should Know About College Expo. What Is Education Expo Dubai 2022-23 A Best Education Expo Dubai 2022-23 Is One Such Expo That Bridges the Gap Between Educational Institutions and Prospective Students. An Education Expo with Super Interactive Facilities and Equipment Takes Place. Education Expo Provides an Attractive Venue Which Is at Crowne Plaza Dubai, Where Students Can Get More Information About the Colleges, They Wish to Take Admission In. Any Educational Institution Can Participate in The Expo Organized by Gee Fair. Let's Go Ahead an...

Japan Foreign Reserves Fall For Third Month After Intervention

8Nov

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WORLD NEWS

Japan Foreign Reserves Fall For Third Month After Intervention

Japan's foreign reserves extended declines in October, following the previous month's record drop, the Ministry of Finance said on Tuesday, reflecting the largest ever amount of yen-buying, dollar-selling interventionThe data comes alongside separate figures that confirmed Japan did not conduct stealth intervention in September and only entered the market to buy yen for U.S. dollars on Sept. 22 as announced, its first foray into the market to prop up the Japanese currency since 1998 Market players are scrutinising Japan's vast pool of foreign assets and intervention records for clues on how much more Japan might be willing to spend in its forays into the currency market, though authorities remain tight-lipped on intervention. I wouldn't be surprised if authorities conduct intervention one ...

Inflation top Worry For G20 Countries -Survey

7Nov

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WORLD NEWS

Inflation top Worry For G20 Countries -Survey

Runaway inflation, an unfolding debt crisis and cost-of-living problems pose the biggest threats to doing business for G20 countries in the next two years, data from the World Economic Forum showed on Monday. Inflation has surged to levels not seen in several decades, prompting a third of G20 countries to identify rising prices as their top concern, the Executive Opinion Survey conducted by the World Economic Forum's Centre for the New Economy and Society showed Although central banks across the globe have embarked on an aggressive policy tightening path their efforts to tame inflation run the risk of tipping the global economy into a recession. The Survey, Which Comes Ahead of The COP27 in Egypt And The G20 Summit in Indonesia Later This Month. also showed that environmental concer...

Global Food Security on The Edge as Russia Exits Grain Deal

31Oct

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WORLD NEWS

Global Food Security on The Edge as Russia Exits Grain Deal

How much of a price jump is harder to predict since the safe-passage deal was already set to expire in mid-November if no agreement is reached to extend it Traders are bracing for a fresh spike in grain prices after Russia’s exit from a deal allowing Ukraine crops to move from the Black Sea to the countries most in need of them roils markets anew. The sudden move by Russia has left leaders scrambling to rescue the UN-and-Turkey-brokered agreement credited with saving vulnerable populations from risk of starvation. The pact reached in July had helped temper wheat futures after they rocketed to a record high in the wake of Russia’s invasion of Ukraine in late February. The latest trade setback threatens to worsen already severe inflation and deepen a global food crisis. The first test will b...

BoJ Holds Ultra-Low Interest Rates, Raises 2022 Inflation Forecast

28Oct

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Asia, ECONOMIC NEWS, Forex, Stock Market, WORLD NEWS

BoJ Holds Ultra-Low Interest Rates, Raises 2022 Inflation Forecast

The Bank of Japan (BoJ) held interest rates at record lows as expected on Friday, and said inflation is likely to rise more in the near-term as the Japanese economy struggles with elevated raw material costs and supply chain issues The central bank held its target for short-term interest rates at negative 0.1%, and said in a statement that it will continue to guide the 10-year bond yield at 0%.The central bank now expects CPI inflation to end the year at 3%, higher than its previous forecast of 2.3%. But it also expects inflation to ease to around 1.5% in 2023 and 2024 Japan’s CPI inflation hit an eight-year high of 3% in September, trending above the BoJ’s target 2% range for a fifth consecutive month amid rising fuel and food prices. Rising raw material prices also saw local businesses p...

Quad leaders agree to invest more than $50 billion in Indo-Pacific infrastructure

25May

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WORLD NEWS

Quad leaders agree to invest more than $50 billion in Indo-Pacific infrastructure

Prime Minister Narendra Modi, Japanese Prime Minister Fumio Kishida, US President Joe Biden, and Australian Prime Minister Anthony Albanese issued a joint statement on May 24 stating that the Quad will seek to extend more than $50 billion in infrastructure assistance and investment to the Indo-Pacific region over the next five years. The leaders are "committed to working closely with partners and the region to drive public and private investment to bridge gaps," according to a joint statement released after the second in-person Quad summit, which was attended by Prime Minister Narendra Modi. The $50 billion assistance will help achieve this goal. The four nations also agreed to bring decades of skills and experience together to catalyze infrastructure delivery in the region while...