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Canada says Toyota recalls 400,124 vehicles due to airbag issue
The government of Canada on Mondau said the Toyota Motor Corp was recalling 400,124 vehicles due to an issue with frontal airbags. The Japanese carmaker on Wednesday said it was expanding its worldwide recall involving potentially defective air bags by Takata Corp.
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Corn falls for First Time in 6 Sessions ahead of Usda Report
The most active corn futures fell 0.42 percent to $3.59 a bushel, having gained 0.42 percent in the previous session. U.S. Department of Agriculture to report latest supply and demand report on Wednesday. Traders and analysts expect the USDA to further increase its estimates for global corn and soybean inventories from February
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Yen Rises Against Majors
The Japanese yen strengthened against the other major currencies in the Asian session on Wednesday. The yen rose to a 1-week high of 159.51 against the pound and a 6-day high of 123.44 against the euro, from yesterday's closing quotes of 160.05 and 124.02, respectively. Against the Swiss franc and the U.S. dollar, the yen advanced to 8-day highs of 112.68 and 112.41 from yesterday's closing quotes of 113.03 and 112.62, respectively. Against the Australian, the New Zealand and the Canadian dollars, the yen climbed to a 5-day high of 83.35, a 6-day high of 75.74 and an 8-day high of 83.65 from yesterday's closing quotes of 83.77, 75.92 and 83.98, respectively. If the yen extends its uptrend, it is likely to find resistance around 155.00 against the pound, 122.00 against the euro, 112.00 against the franc, 110.00 against the greenback, 79.00 against the aussie, 73.00 against the kiwi and 81.00 against the loonie.
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China Inflation Accelerates To 2.3% In February
Consumer prices in China were up 2.3 percent on year in February, the National Bureau of Statistics said on Thursday. That exceeded forecasts for an increase of 1.8 percent, which would have been unchanged from the January reading. It also marked the fastest rate since July 2014. Ona monthly basis, CPI jumped 1.6 percent after adding 0.5 percent a month earlier. The bureau also reported that producer prices were down 4.9 percent on year - in line with expectations following the 5.3 percent contraction in the previous month. Producer prices have been mired in deflation for more than four years now.
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China Inflation Accelerates To 2.3% In February
Consumer prices in China were up 2.3 percent on year in February, the National Bureau of Statistics said on Thursday. That exceeded forecasts for an increase of 1.8 percent, which would have been unchanged from the January reading. It also marked the fastest rate since July 2014. Ona monthly basis, CPI jumped 1.6 percent after adding 0.5 percent a month earlier. The bureau also reported that producer prices were down 4.9 percent on year - in line with expectations following the 5.3 percent contraction in the previous month. Producer prices have been mired in deflation for more than four years now.
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Asian Markets Start the Week on a Higher Note, Gold supported Above $1250
All the Asian markets are opened on a higher note on the start of the new week on Monday as Wall Street booked a solid gain on last Friday and Gold erases previous losses against US dollar and currently remains well supported above $1250 mark. The Nikkei 225 index was trading 2.08% higher to 17,291.23 points on Monday morning in Tokyo, while the broader Topix index traded 1.42% higher at 1,378.61 points. Today Japan released core machinery orders with positive numbers at 15% month-on-month in January, the strongest rise in 22 months. USD/JPY remains well supported below 114.00 marks and trading around 113.92 levels. Shanghai Composite rising 0.70% to 2,830.08 points, while Hong Kong's Heng Seng index was trading 1.13% higher to 20,436.77 points. South Korea?s Kospi was trading 0.17% higher to 1974.77 points. Australia?s benchmark S&P/ASX 200 index was trading 0.71% higher to 5,203.70 points in Sydney while New Zealand's benchmark S&P/NZX 50 index was trading up 0.87% at an all-time high of 6,572.15 points on Monday afternoon in Wellington.
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Excerpts from new 2008 financial crisis report reflect irregularities
New documents about the 2008 financial crisis indicate unusually straight-forward evaluations and admissions by key officials. Released by the US National Archives, the report released the full text of a May 26, 2010 interview with Warren Buffett. The seasoned investor, who admitted overlooking the crisis, said he would act differently if he saw it emerging. Former Treasury Secretary Henry Paulson said the business model for Fannie Mae and Freddie Mac is irrational and that they were a regulator with no authority. Ex-Federal Reserve Chair Alan Greenspan justified the central bank's responses before and during the crisis, indicating policymakers could only do so much in projecting the future.
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Australia New Vehicle Sales Dip 0.1% In February
The total number of new vehicle sales in Australia was down a seasonally adjusted 0.1 percent on month in February, the Australian Bureau of Statistics said on Tuesday - coming in at 97,921. That follows the 0.4 percent increase in January. On a yearly basis, new car sales added 2.3 percent - slowing from 5.1 percent in the previous month. By category, sales of passenger vehicles fell 0.9 percent on month, while sports utility vehicles added 0.4 percent and other vehicles climbed 1.6 percent. By region, sales in the Northern Territory jumped 1.9 percent, while the Australian Capital Territory fell 1.3 percent.
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Volkswagen investors file $3.61 billion lawsuit in Germany
Around 300 institutional investors lodged a multi-billion euro lawsuit versus Volkswagen in Germany, saying the automaker violated its capital markets responsibility in the emissions scandal. The ?3.256 billion ($3.61 billion) suit was submitted at a regional court in Braunschweig, which is filed by 278 investors worldwide, including CALPERS. TISAB, a law firm representing the institutional investors, said the lawsuit seeks to find out whether the carmaker failed to fulfill its job to the capital markets about the timetable between June 2008 and September 2015. A VW spokesperson could not provide a comment as the company had not seen the case.
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Australia Leading Index Dips In February - Westpac
A leading economic index for the Australian economy slowed in February, the latest survey from Westpac Bank and the Melbourne Institute showed on Wednesday, easing 0.15 percent. That brings the index to a score of 97.07, and it marks the fourth straight month of decline. The index was roughly flat in January at 97.22. The index suggests a slowdown in economic activity in the next three to nine months.
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