December registrations increased by 12.8% in the fifth consecutive month of growth, the association, known as ACEA, said. However, only two of the region's four major markets, Germany and Italy, posted growth, it added.
Supreme Court Hears Bid by Turkey's Halkbank to Avoid Charges
WASHINGTON-The Supreme Court on Tuesday weighed whether to shield Turkey's Halkbank from charges that it helped Iran evade sanctions by laundering billions of dollars, a high-profile case that stoked tensions between the U.S. and Turkey.
The case, Turkiye Halk Bankasi A.S. v. United States, is expected to clarify whether U.S. prosecutors can criminally charge corporations owned by foreign states. Halkbank says it has sovereign immunity because it is majority-owned by the Turkish government.
GLOBAL NEWS
December Retail Sales Report to Show How Consumers Weathered Holiday Season
A report on December U.S. retail sales will show consumers' appetite for spending on gifts, dining out and big-ticket purchases during the final month of the holiday season.
High inflation and rising borrowing costs caused some households to pull back late last year, and retailers said the recently completed holiday shopping season turned out to be weaker than expected. Macy's Inc. warned of softer sales, and Lululemon Athletica Inc. said its profit margins were squeezed as shoppers bought more items on sale. Broadly, discounting became more commonplace.
Despite Pressure, Bank of Japan Keeps Interest-Rate Targets Unchanged
TOKYO-The Bank of Japan kept its interest-rate targets unchanged Wednesday despite strong pressure from investors on the bank's new 0.5% cap for the 10-year government bond yield.
The Japanese central bank decided to leave short-term interest rates at minus 0.1% and its target for the 10-year Japanese government bond yield at around zero. The bank reiterated that it intends to cap that yield at 0.5%.
Oil Demand to Hit Record Level This Year as China Reopens, IEA Says
China's rapid shift to reopen its economy following lengthy Covid-19 lockdowns should help oil demand rise to a record level this year, the International Energy Agency said.
The energy watchdog lifted its forecast for oil demand growth this year by nearly 200,000 barrels a day to 1.9 million barrels a day. The extra demand means that the IEA now expects total oil demand this year to average 101.7 million barrels a day, well above pre-Covid levels and a record amount.
Fed needs to avoid the mistake of declaring victory over inflation too soon, Barkin says
The Federal Reserve must avoid the mistake of declaring victory over inflation too soon, said Richmond Fed President Tom Barkin on Tuesday.
In an interview on the Fox Business Network, Barkin said "the thing I learned" is one can't declare victory too early.
Big Banks Might Face Breakup, Top Regulator Says
WASHINGTON-Big banks may need to be broken into smaller pieces if they become too big to manage and are unable to fix significant regulatory lapses, a top federal banking regulator said in a warning shot across Wall Street on Tuesday.
A bank's failure to resolve longstanding deficiencies despite reprimands from its regulators and onerous restrictions such as caps on its growth are evidence that a firm is unmanageable and needs to be broken up, acting Comptroller of the Currency Michael Hsu said.
Wall Street's 'fear gauge' flashes warning that stocks might be headed off a cliff
Wall Street's fear gauge has fallen to its lowest level in months, and Wall Street strategists are concerned it could be a warning that the latest stock-market rally is coming to an end.
Specifically, they're worried that the low level of the Cboe Volatility Index, otherwise known as "the VIX," suggests that investors may have become complacent about the risks to their portfolios, raising the possibility that they could be caught off guard in a way that exacerbates the potential market mayhem, according to a series of research notes sent to clients and reviewed by MarketWatch.
Ukraine's Interior Minister, at Least 17 Others Killed in Kyiv Helicopter Crash
Ukraine's interior minister and other senior officials were among at least 18 people killed when a helicopter crashed near a kindergarten on the edge of Kyiv on Wednesday morning, Ukrainian officials said.
The minister, Denys Monastyrsky, a first deputy minister, and another senior official were killed in the crash, Ukrainian police said. Nine of those killed had been on board the aircraft when it crashed in Brovary, on the outskirts of Kyiv, Ukraine's national police chief said on his official Telegram channel.
Justice Department Considered but Rejected Role in Biden Documents Search
WASHINGTON-The Justice Department considered having FBI agents monitor a search by President Biden's lawyers for classified documents at his homes but decided against it, both to avoid complicating later stages of the investigation and because Mr. Biden's attorneys had quickly turned over a first batch and were cooperating, according to people familiar with the matter.
After Mr. Biden's lawyers discovered documents marked as classified dating from his term as vice president at an office he used at a Washington-based think tank on Nov. 2, the Justice Department opened an inquiry into why and how they got there. Mr. Biden's legal team prepared to search his other properties for any similar documents, and discussed with the Justice Department the prospect of having FBI agents present while Mr. Biden's lawyers conducted the additional searches.
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(END) Dow Jones Newswires
01-18-23 0551ET
