Business

Business briefs

Lexus exits

Toyota Motor’s Lexus, dethroned by BMW and Mercedes as the US luxury sales leader, aims to remake itself with models more like performance cars and less like family cars, leading to a new IS sport sedan intended to lure entry-level drivers who would otherwise buy German.

Yuan way …

The Chinese yuan is gaining in tandem with the dollar for the first time since 2011, a sign the nation’s policy makers are confident growth will pick up from the slowest pace in 13 years.

… Yen yawn

The yen dropped early this morning to its lowest against the dollar since June 2009 after the Bank of Japan outstripped forecasts and announced unprecedented measures last week to fight deflation, spurring concern the currency will be debased.

Reserve risk

Low returns on top-rated government bonds are leading central banks to take on more risk in their reserve portfolios, with almost two-thirds more inclined to invest in equities compared with a year ago, a survey showed.