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Asian stocks follow Wall St higher on welcome US inflation data
Asian stocks follow Wall St higher on welcome US inflation data
Business and Economy
by  AFP

Asian markets extended a global rally Thursday after below-forecast US inflation provided a much-needed shot of relief to investors and revived hopes for interest rate cuts this year. The inflation figures tempered worries that the Federal Reserve might not cut rates this year -- or possibly even hike them -- following a blockbuster jobs report on Friday.

Toyota arm Hino makes deal to settle emission fraud case
Toyota arm Hino makes deal to settle emission fraud case
Business and Economy
by  AFP

US officials late Wednesday announced a $1.6 billion deal with Toyota subsidiary Hino Motors to settle charges it deceived regulators about the amount of emissions spewed by its diesel engines. US regulators and the state of California, which has strict vehicle emission standards, worked out criminal and civil remedies with Hino valued at more than $1.6 billion.

Yellen warns against extending Trump's first-term US tax cuts
Yellen warns against extending Trump's first-term US tax cuts
Business and Economy
by  AFP

US Treasury Secretary Janet Yellen warned Wednesday that plans to extend President-elect Donald Trump's 2017 tax cuts -- which remained in place under Joe Biden but are set to expire -- will add to unsustainable deficits. Yellen pointed to estimates that extending provisions of the Tax Cuts and Jobs Act could add around $4 trillion to deficits through 2034.