Morning in brief: Japan boosts stimulus, world’s largest mine to be expanded
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The Bank of Japan adds to its asset purchase programme to fight deflation, while European markets fall after Moody’s takes action on nine countries.
Markets
European shares and the euro drop after credit ratings agency Moody’s Investors Service takes action on nine countries, including downgrades for Italy, Portugal and Spain, according to Reuters.
Companies
BHP Billiton and Rio Tinto unveil plans to expand the Escondida copper mine in Chile – the world’s biggest mine – through a combined investment of $4.5 billion (£3 billion), the BBC reports.
US gas producer Chesapeake Energy aims to raise up to $12 billion by selling assets this year, including the future liquid natural gas output of the Granite Wash in the Texas panhandle, says the Financial Times.
International
The Bank of Japan eases monetary policy further by boosting its asset purchase programme by another ¥10 trillion (£82 billion) to about ¥65 trillion in a bid to end the country’s deflation problem, according to the Telegraph.
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