{"id":7340,"date":"2023-10-31T00:50:38","date_gmt":"2023-10-31T00:50:38","guid":{"rendered":"https:\/\/infundpros.com\/business\/live-news-australias-treasury-wine-estate-buys-californian-label-daou-for-900mn\/"},"modified":"2023-10-31T00:50:38","modified_gmt":"2023-10-31T00:50:38","slug":"live-news-australias-treasury-wine-estate-buys-californian-label-daou-for-900mn","status":"publish","type":"post","link":"https:\/\/infundpros.com\/?p=7340","title":{"rendered":"Live news: Australia\u2019s Treasury Wine Estate buys Californian label Daou for $900mn"},"content":{"rendered":"
\n

What to watch in Asia today<\/h2>\n

George Russell in Hong Kong<\/p>\n

\n

Events:<\/strong> Many Asia-Pacific cities celebrate Halloween, but Seoul will be cautiously marking a year since a surge of revellers resulted in 151 deaths and more than 80 injuries. Tokyo\u2019s busy Shibuya district has imposed a policy of no alcohol in the streets, amid fears of a similar crush. Anime Tokyo Station opens in the Japanese capital\u2019s Ikebukuro district. The Association of Japanese Animations and the Tokyo metropolitan government earlier this year signed an agreement to open a landmark facility devoted to the Japanese visual art.<\/p>\n

Central banks<\/strong>: The Bank of Japan will conclude its two-day policy meeting and release fresh quarterly growth and inflation forecasts, while the Reserve Bank of New Zealand issues a financial stability report.<\/p>\n

<\/source>\"\"<\/picture>
Yum China\u2019s headquarters in Shanghai. The fast-food franchise group, which has at least 10,000 restaurants across the country, reports third-quarter data<\/span> \u00a9 Alex Plavevski\/EPA-EFE\/Shutterstock<\/span><\/figcaption><\/figure>\n

Economic indicators:<\/strong> Japan announces unemployment figures for September. China issues official manufacturing purchasing managers\u2019 index data for October. South Korea releases industrial production and retail sales for September. The ANZ New Zealand business confidence index for October is available.<\/p>\n

Corporate results:<\/strong> Foxconn Industrial Internet and Yum China are among companies reporting third-quarter data. Indian telco Bharti Airtel and Japan\u2019s Daiichi Sankyo, Denso, Japan Tobacco, Mitsubishi Electric and Mitsui & Co announce second-quarter earnings.<\/p>\n<\/div>\n<\/div>\n

\n

SolarWinds sued by SEC after 2020 breach by Russian hackers<\/h2>\n

Stefania Palma in Washington and Hannah Murphy in San Francisco<\/p>\n

\n
<\/source>\"The<\/picture>
The US Securities and Exchange Commission filed a complaint against SolarWinds, accusing the company of misleading investors by not disclosing \u2018known risks\u2019<\/span> \u00a9 Suzanne Cordeiro\/AFP via Getty Images<\/span><\/figcaption><\/figure>\n

SolarWinds, the IT company breached by Russian hackers as part of a sprawling espionage campaign in 2020, has been sued by the US Securities and Exchange Commission.<\/p>\n

The SEC on Monday filed a complaint accusing the company and chief information security officer Timothy Brown of misleading investors by not disclosing \u201cknown risks\u201d and not accurately representing its cyber security measures.<\/p>\n

\u201cWe allege that, for years, SolarWinds and Brown ignored repeated red flags about SolarWinds\u2019 cyber risks, which were well known throughout the company and led one of Brown\u2019s subordinates to conclude: \u2018We\u2019re so far from being a security minded company,\u2019\u201d Gurbir Grewal, director of the SEC\u2019s enforcement division, said in a statement.<\/p>\n<\/div>\n<\/div>\n

\n

S&P upgrades Ford as cost cuts expected to offset new labour contract<\/h2>\n

Harriet Clarfelt in New York<\/p>\n

\n

S&P has upgraded Ford to investment-grade territory, citing the carmaker\u2019s improving margins and expectations that its cost reduction programme would \u201cmore than offset higher labour-related costs\u201d.<\/p>\n

In a Monday update, the rating agency moved Ford up to triple-B minus from double-B plus.<\/p>\n

Ford reached a tentative agreement last week with the United Auto Workers union that would increase member wages by 25 per cent over four years, following a historic 40-day strike against the traditional Big Three domestic car manufacturers.<\/p>\n

S&P\u2019s move comes after Fitch raised the company to investment grade status in September.<\/p>\n

Moody\u2019s lifted the company to the highest notch of junk territory in July.<\/p>\n<\/div>\n<\/div>\n

\n

Bank of Canada rate-setting group \u2018has not started\u2019 discussing when to cut<\/h2>\n

Steff Ch\u00e1vez in Chicago<\/p>\n

\n
<\/source>\"Tiff<\/picture>
Tiff Macklem, governor of the Bank of Canada, left, and Carolyn Rogers, senior deputy governor, walk to a meeting of the House of Commons finance committee in Ottawa on Monday<\/span> \u00a9 David Kawai\/Bloomberg<\/span><\/figcaption><\/figure>\n

A top Bank of Canada official has said that the central bank\u2019s monetary policy setting body has not yet discussed when to start cutting interest rates.<\/p>\n

Once the bank is confident that inflation is coming down and remains at those levels, \u201cwe would start thinking about lowering interest rates, but we\u2019re just not there yet,\u201d senior deputy governor Carolyn Rogers told the country\u2019s House of Commons on Monday.<\/p>\n

The BoC\u2019s \u201cgoverning council has not started talking about when we\u2019ll reduce interest rates\u201d, she said.<\/p>\n

The bank held its key interest rate at 5 per cent last week because officials want to give monetary policy time to cool the economy and relieve price pressures, BoC governor Tiff Macklem told lawmakers.<\/p>\n<\/div>\n<\/div>\n

\n

S&P 500 notches biggest gain in two months as Fed meeting looms<\/h2>\n

Harriet Clarfelt in New York<\/p>\n

\n

Wall Street stocks closed higher and oil prices dropped at the start of a week of closely watched economic data, with the upcoming Federal Reserve rate decision front and centre.<\/p>\n

The benchmark S&P 500 closed 1.2 per cent higher for the gauge\u2019s biggest one-day gain since late August. The tech-heavy Nasdaq Composite also gained 1.2 per cent.<\/p>\n

In government debt markets, Treasury yields also edged up \u2014 signalling a drop in prices. Brent crude oil fell roughly 3 per cent to remain below $90 a barrel.<\/p>\n

Markets are currently pricing in the likelihood that the Fed will keep rates unchanged in a range of 5.25-5.5 per cent when it announces its policy decision on Wednesday.<\/p>\n<\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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