Japan's retailers, typically among the most tight-fisted of employers, are offering big pay increases for a second year in a row, meaning squeezed profits for companies, more spending money for workers, and a green light for more central bank rate hikes.
Japan's biggest business lobby Keidanren and trade unions kicked off annual labour talks on Wednesday that are likely to lead to another year of bumper wage hikes, though policymakers will be mainly focused on how far the momentum spreads to smaller firms.
Most Asian stocks rose on Wednesday, with technology shares in the lead after OpenAI announced a massive partnership to build more artificial intelligence infrastructure in the U.S.
Oil prices were little changed on Wednesday as markets weighed U.S. President Donald Trump's declaration of a national energy emergency on his first day in office and its impact on supply.
The dollar drifted slightly higher on Wednesday in indecisive trading as a lack of clarity on President Donald Trump's plans for tariffs kept financial markets guessing.
New car sales in Europe were up by 0.9% in 2024, led by double-digit growth in hybrid car registrations, which exceeded petrol for a fourth consecutive month in December, industry data showed on Tuesday.