Reuters US Economy

OECD urges Brazil to rein in required spending and lower trade barriers

18 Dec 2023

BRASILIA (Reuters) – The Organization for Economic Cooperation and Development (OECD) urged Brazil on Monday to reconsider its mandatory expenditures and dismantle trade barriers in order to bolster the potential growth of Latin America’s largest economy. In its latest edition of the Economic Survey of Brazil, the OECD noted a lack of progress on its …

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Brazil’s lower house approves landmark consumption tax reform

16 Dec 2023

BRASILIA (Reuters) – Brazil’s lower house approved on Friday a major consumption tax overhaul, seen as capable of boosting the country’s potential growth, although its effective implementation hinges on subsequent bills and an extended transition period. The reform had initially been approved by deputies in July, but had to be voted on again after the …

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Exclusive-Fed’s Bostic sees two rate cuts, soft landing next year

16 Dec 2023

By Howard Schneider WASHINGTON (Reuters) -The U.S. central bank can begin reducing interest rates “sometime in the third quarter” of 2024 if inflation falls as expected, Atlanta Federal Reserve President Raphael Bostic said on Friday, pushing back against expectations of an imminent move but outlining a deliberative process that will gather steam in coming weeks. …

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White House sees greater chances for economic ‘soft landing’

16 Dec 2023

By Trevor Hunnicutt WASHINGTON (Reuters) -U.S. President Joe Biden’s top economic adviser said on Friday that recent data shows the “width of the runway for a soft landing has gotten much bigger” and that immigration had helped the U.S. labor force rebound. Lael Brainard, head of the White House’s National Economic Council, told reporters in …

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Fitch affirms Brazil’s rating, calls Lula’s government pragmatic

15 Dec 2023

SAO PAULO (Reuters) -Fitch Ratings affirmed on Friday Brazil’s long-term foreign-currency issuer rating at “BB” with a stable outlook, saying the first year of President Luiz Inacio Lula da Silva’s third term in office “has shown broad policy pragmatism.” Lula’s government is advancing with revenue-enhancing measures, Fitch said in a statement, but said its policy …

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US manufacturing output increases in November, underlying trend soft

15 Dec 2023

By Lucia Mutikani WASHINGTON (Reuters) – Production at U.S. factories rose in November, lifted by a rebound in motor vehicle output following the end of strikes, but activity was weaker elsewhere as manufacturing grapples with higher borrowing costs and softening demand. Despite the manufacturing sector’s mixed fortunes, the economy continued to expand as the year …

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HCSC, Elevance compete for Cigna Medicare Advantage unit – Bloomberg News

15 Dec 2023

(Reuters) – Health Care Service Corp and Elevance Health are competing to acquire Cigna Group’s business providing medical coverage to those aged 65 and over, Bloomberg reported on Friday, citing people with knowledge of the matter. Cigna expects final bids for its Medicare Advantage business to be submitted next week, according to the report, with …

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