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Jan 18 (Reuters) – More than 500 of Twitter’s advertisers have paused spending on the micro blogging site since Elon Musk’s takeover last year, The Information reported on Wednesday, citing a person familiar with its ad business.

The social media company’s daily revenue on Jan. 17 was 40% lower than the same day a year ago, the report added.

The drop in the company’s revenue was first reported by technology newsletter Platformer on Tuesday.

Full coverage: REUTERS

BOJ Governor Kuroda’s Comments At News Conference

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Jan 18 (Reuters) – The Bank of Japan on Wednesday maintained ultra-low interest rates, including a bond yield cap it was struggling to defend, defying market expectations it would phase out its massive stimulus programme in the wake of rising inflationary pressure.

The surprise decision sent the yen skidding against other currencies as investors unwound bets they made anticipating the central bank would overhaul its yield control policy.

Full coverage: REUTERS

BOJ Defies Market Bets For Policy Tweaks, Yen Stumbles

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TOKYO, Jan 18 (Reuters) – The Bank of Japan on Wednesday maintained ultra-low interest rates, including a bond yield cap it was struggling to defend, defying market expectations it would phase out its massive stimulus programme amid mounting inflationary pressure.

The surprise decision sent the yen skidding against other currencies and bond yields tumbling the most in decades, as investors unwound bets they made anticipating the central bank would overhaul its yield control policy.

Full coverage: REUTERS

Oil Prices Surge Around 1% On Optimism Over China’s Recovery

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Jan 18 (Reuters) – Oil prices extended early gains to rise around 1% on Wednesday, on optimism that the lifting of China’s strict COVID-19 curbs will lead to a recovery in fuel demand in the world’s top oil importer.

Brent crude futures climbed 76 cents, or 0.88%, to $86.68 a barrel by 0721 GMT, following a 1.7% rally in the previous session.

U.S. West Texas Intermediate (WTI) crude futures went up 85 cents, or 1.06%, to $81.03, having risen 0.4% on Tuesday.

Full coverage: REUTERS

BOJ Crafts New Weapon To Defend Yield Control Policy

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TOKYO, Jan 18 (Reuters) – The Bank of Japan on Wednesday amended rules for a funds-supply market operation to make it usable as a tool for preventing long-term interest rates rising too much, in a show of resolve to maintain its yield curve control (YCC) policy for the time being.

Under the amended rules, the central bank can make both fixed-rate and variable-rate loans of up to 10 years’ duration against collateral to financial institutions.

Full coverage: REUTERS