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Finance

EU agrees mineral supply targets to cut reliance on China

European Union flags fly outside the European Commission in Brussels, Belgium November 8, 2023. REUTERS/Yves Herman Acquire Licensing RightsCritical minerals law likely to enter force early 2024Deal increases ambitions on recyclingAluminium and synthetic graphite added to key mineralsBRUSSELS, Nov 13 (Reuters) - Negotiators for EU governments and lawmakers reached a deal on Monday on targets for domestic supply of critical minerals such as lithium and nickel to reduce its reliance on third countries, principally China.The European Commission proposed the Critical Raw Materials Act in March, a centrepiece of EU strategy...
Currencies

Dollar rallies to fresh one-year high against a beaten-down yen

Japanese Yen and U.S. dollar banknotes are seen in this illustration taken March 10, 2023. REUTERS/Dado Ruvic/Illustration/File Photo/File Photo Acquire Licensing RightsLONDON, Nov 13 (Reuters) - The dollar climbed to its highest level in over a year against the Japanese yen on Monday, continuing to draw support from a scaling back of expectations for U.S. Federal Reserve interest rate cuts next year.Japanese Finance Minister Shunichi Suzuki said the government would keep monitoring the currency market and respond appropriately. The comments had little immediate impact on the yen, which is down...
Banking

Exclusive: ICBC injects capital into U.S. unit, seeks cyber review -sources

People walk past a booth of ICBC Credit Suisse Asset Management Co at the 2020 China International Fair for Trade in Services (CIFTIS), in Beijing, China September 5, 2020. REUTERS/Tingshu Wang/File photo Acquire Licensing RightsNEW YORK/LONDON, Nov 10 (Reuters) - Industrial and Commercial Bank of China injected capital into its U.S. unit to pay BNY Mellon (BK.N) $9 billion for unsettled trades and hired a cybersecurity firm to help it return online after a ransomware attack, sources familiar with the matter said.ICBC said on Thursday it had been hit by...
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