IMF expects gradual BOJ rate hike towards neutral setting
The International Monetary Fund said on Tuesday the Bank of Japan will likely raise interest rates gradually "toward a neutral setting" despite an expected slowdown in growth, aligning with other central banks facing inflationary pressures.
Card surcharge ban used as ‘cover’ for larger price increases by Australian businesses, experts say
‘Round-up’ pricing in items such as coffee suggests increases are exceeding the typical 1.5% surcharge fee * Follow our Australia politics live blog for latest updates * Get our breaking news email, free app or daily news podcast Businesses are using the recent ban on credit card surcharges as “cover” to pass along much larger price increases to customers, experts say, as cafes and restaurants struggle to cope with climbing costs and rising interest rates. Credit card surcharges, typically worth about 1.5% of the transaction, were banned from 1 October, as part of a Reserve Bank-led reform aimed at improving transparency for customers and, ultimately, lowering bank fees. Continue reading...
Hong Kong Lifeline Buys Cheng Family Time to Save New World
It was a Wednesday evening in late September and analysts covering New World Development Co. were getting antsy. The cash-strapped Hong Kong developer was late to report its earnings, and executives hadn’t shown up to a scheduled briefing.
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