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TOKYO, Jan 13 (Reuters) – The yield on Japan’s benchmark 10-year government bonds breached the central bank’s new ceiling on Friday in the market’s most direct challenge yet to decades of uber-easy monetary policy, before a wave of emergency bond buying reined it back in.

Swirling speculation that the Bank of Japan’s policy of yield curve control (YCC) could be revised, or even abandoned, as early as next week had investors rushing for the exits.

Full coverage: REUTERS

China Demand Optimism Sets Oil On Track For Strong Weekly Gain

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Jan 13 (Reuters) – Oil prices rose on Friday, set to gain more than 6% for the week, on solid signs of demand growth in top oil importer China and expectations of less aggressive interest rate rises in the United States.

Brent crude futures rose by 5 cents to $84.08 a barrel by 0746 GMT, off a session low of $83.50. U.S. West Texas Intermediate (WTI) crude futures gained 13 cents to $78.52 a barrel after falling to $77.97 earlier in the session.

Full coverage: REUTERS

Indonesia Palm Oil Export Curbs, Biodiesel Plans To Hit World Vegoil Supplies

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SINGAPORE/JAKARTA, Jan 13 (Reuters) – A move by top palm oil exporter Indonesia to restrict shipments and boost domestic biodiesel consumption is set to squeeze global vegetable oil supplies already undercut by lower output in Southeast Asia and Latin America.

Edible oil buyers, including price-sensitive consumers in South Asia and Africa, will bear the brunt of the supply-side constraints that come just as demand is forecast to climb, with China easing COVID-19 controls and India boosting purchases.

Full coverage: REUTERS

Tesla Slashes Prices In U.S., Europe To Drive Demand

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Jan 13 (Reuters) – Tesla (TSLA.O) has slashed prices on its electric vehicles in the United States and Europe by as much as 20%, extending a strategy of aggressive discounting after missing Wall Street estimates for 2022 deliveries.

The move, which prompted a 3.8% fall in Tesla’s shares in Frankfurt, came after CEO Elon Musk warned that the prospect of recession and higher interest rates meant it could lower vehicle pricing to sustain volume growth at the expense of profit.

Full coverage: REUTERS

China Acquires ‘Golden Shares’ In Two Alibaba Units

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BEIJING, China, Jan 13 (Reuters) – China has acquired minority stakes with special rights in two domestic units of tech giant Alibaba Group Holding Ltd (9988.HK), business registration records showed, as Beijing extends a campaign to strengthen control over online content.

Beijing has been taking ‘golden shares’ in private online media and content companies for more than five years, and in recent years expanding such arrangements to companies with vast troves of data.

Full coverage: REUTERS