World

Lippert sees a direct correlation between today’s lounge-y looks and those early suits. “It strikes me,” she noted, “that the loungewear trend is a reverse empowerment of the ‘power suits’ for an earlier generation of working women.” Sperling recounted buying up a series of soft cotton jumpsuits, in multiple colours and fabrics, all made in Thailand. “I like to wear clothes I might be able to dance in,” she said. She also cited “leggings and a tank top with a built-in bra” or a “men’s style linen button-down shirt” as favourite uniforms. Alys George, 45, a cultural historian, favours a similar uniform: Leggings and a long, tunic-like sweater or top, all in black. The height of pandemic lockdowns coincided with George’s recent pregnancy, which only increased her desire for bodily comfort....

In this article JPM Jamie Dimon, CEO of JPMorgan Chase speaks to the Economic Club of New York in New York, January 16, 2019. Carlo Allegri | Reuters Jamie Dimon, CEO and chairman of the biggest U.S. bank by assets, pointed to a potentially unprecedented combination of risks facing the country in his annual shareholder letter. Three forces are likely to shape the world over the next several decades: a U.S. economy rebounding from the Covid pandemic; high inflation that will usher in an era of rising rates, and Russia's invasion of Ukraine and the resulting humanitarian crisis now underway, according to Dimon. "Each of these three factors mentioned above is unique in its own right: The dramatic stimulus-fueled recovery from the COVID-19 pandemic, the likely need for rapidly raising rates ...

Japan’s sovereign credit rating could fall one to three notches in the coming decade if the government does not implement a credible fiscal consolidation plan. This risk, which the ASEAN+3 Macroeconomic Research Office highlighted in its recent annual consultation report on the country, underlines the challenges facing Japanese policymakers at a time of mounting global economic turmoil. Even before the outbreak of the COVID-19 pandemic, Japan was struggling to maintain fiscal discipline in order to contain its government debt, which was and remains the highest in the world as a percentage of gross domestic product (GDP). But the government’s strong efforts, combined with sustained economic recovery following the global financial crisis, reduced the fiscal deficit from 8.7% of GDP in 2009...

JOHANNESBURG/BENGALURU : Most emerging market currencies will continue to struggle against the mighty dollar over the coming year as the U.S. Federal Reserve finally delivers expected aggressive policy tightening, according to a Reuters poll of FX strategists. Central banks in emerging market economies have been bracing for this for months by hiking their benchmark interest rates. But the actual moment when the Fed delivers half-point rate increases and rapid balance sheet reduction still matters. Minutes from the Fed's March meeting showed officials had generally agreed to trim the central bank's balance sheet by $95 billion a month, providing a major boost to the greenback which was already riding high. The latest Reuters poll of over 50 currency strategists showed nearly all developi...

TAIPEI :Taiwan firms making chip and electronic components reported a mixed picture on Wednesday on work resumption in the eastern Chinese city of Kunshan after COVID-19 curbs, with some warning deliveries would be postponed until next month. China has put Shanghai under a tight lockdown since late March and neighbouring Kunshan has also tightened curbs to control the country's biggest COVID-19 outbreak since the coronavirus was discovered in late 2019 in the city of Wuhan. That had caused dozens of Taiwanese firms, many making parts for the semiconductor and electronics industries, to suspend operations. Global companies, from makers of mobile phones to chips, are highly dependent on China and Southeast Asia for production and have been diversifying their supply chains after the pandem...

HONG KONG: Asian shares rose on Wednesday (Apr 13) boosted by US inflation figures that fared better than markets' worst expectations - and caused US yields to pause their march higher - though Chinese shares remained pressured by COVID-19. Share market sentiment was also capped by gains in oil and other commodity prices after Russian President Vladimir Putin said that on-and-off peace negotiations "have again returned to a dead-end situation for us", which also hurt the euro. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent and Japan's Nikkei jumped 1.54 per cent. S&P 500 futures gained 0.2 per cent and Nasdaq futures gained 0.57 per cent in Asia trade. Data published on Tuesday showed US monthly consumer prices increased by the most in 16-1/2 years in Marc...

Bank of America analysts said on Wednesday that iPhone demand is still strong despite a recent report that said Apple cut production of its iPhone 13 and new iPhone SE. "While these articles might lead some investors to think there is risk to demand, we believe demand for iPhones remains strong based on our analysis of iPhone trade-in prices," the Bank of America analysts said in a note. Bank of America said Apple lowered trade-in values for some iPhone models after the launch of the $429 iPhone SE in early March. An iPhone 12 Pro Max, the newest model available for trade-in, is now worth $650 as opposed to $700 before the launch, the note said. The analysts argue this shows demand is still strong since Apple doesn't need to pay as much to convince people to trade in older iPhones for ne...

HANOI/SAN FRANCISCO : Vietnam's automaker VinFast said on Tuesday it has signed a preliminary deal to initially invest $2 billion to build a factory in North Carolina to make electric buses, sport utility vehicles (SUVs) along with batteries for EVs. The unit of Vietnam's biggest conglomerate Vingroup, said it plans to have a total investment of $4 billion in its first U.S. factory complex. Construction should begin this year as soon as the company gets necessary permits, and is expected to finish by July 2024. The plant's initial capacity will be 150,000 units per year, Vinfast said. "With a manufacturing facility right in the U.S. market, VinFast can stabilize prices and shorten product delivery time, making our EVs more accessible to customers," said Nguyen Thi Thu Thuy, Vingroup vic...

BOSTON :U.S. stocks declined broadly while oil prices and Treasury yields pushed higher on Monday as investors refocused on risks from conflict in Ukraine and the U.S. Federal Reserve's actions on inflation. The Dow Jones Industrial Average fell 201.94 points, or 0.58per cent, to 34,552.99, the S&P 500 lost 1.94 points, or 0.04per cent, to 4,461.18 and the Nasdaq Composite dropped 55.38 points, or 0.4per cent, to 13,838.46. Boeing shares fell by 3.6per cent after one of its 737 jets crashed in China. Global stock markets rallied last week in anticipation of an eventual peace deal on Ukraine. But on Monday, Ukraine defied a Russian ultimatum that its forces lay down arms in Mariupol, while the European Union considered a possible energy embargo against Russia. The pan-European STOXX 600...

Sri Lanka’s worst economic crisis has triggered an unprecedented wave of spontaneous protests as the island nation of 22 million people struggles with prolonged power cuts and a shortage of essentials, including fuel and medicines. Sri Lankan President Gotabaya Rajapaksa’s government has come under growing pressure for its mishandling of the economy, and the country has suspended foreign debt payments in an effort to preserve its paltry foreign exchange reserves. On Monday, Sri Lanka will begin talks with the International Monetary Fund (IMF) for a loan program, even as it seeks help from other countries, including neighboring India, and China. How did it get to this? Economic mismanagement by successive governments weakened Sri Lanka’s public finances, leaving its national expenditure...