Reuters US Economy

Colombia court strikes down ban on deducting royalties from tax income

18 Nov 2023

BOGOTA (Reuters) -Colombia’s Constitutional Court has struck down part of a law that prohibited extractive companies from deducting royalties paid to the government from their taxable income, benefiting businesses and dealing a blow to government finances. The rule was included in a tax reform from the government of leftist President Gustavo Petro, which was approved …

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Abris mulls sale of Polish healthcare company Scanmed -sources

18 Nov 2023

By Anna Koper WARSAW (Reuters) -Abris Capital Partners investment fund is mulling a sale of private healthcare provider Scanmed Group, with Polish cardiovascular care company American Heart of Poland being the most likely buyer, sources familiar with the process told Reuters. The Polish private healthcare sector is attracting investors as Poles’ expenditures on health are …

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US debt risks to become a ‘fact of life’ for investors, says Citi

17 Nov 2023

By Davide Barbuscia NEW YORK (Reuters) – Rising U.S. government debt and fiscal deficits that have helped lift government bond yields this year will likely become secondary factors for investors, as their focus shifts to economic fundamentals, Citi analysts said. Concerns over increased government bond supply and larger fiscal deficits contributed to a surge in …

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Detroit Casino Council reaches tentative labor deal with MGM, Penn

17 Nov 2023

(Reuters) -The Detroit Casino Council said on Friday it has reached a tentative agreement for a new contract covering 3,700 workers at MGM Grand Detroit operated by MGM Resorts, Hollywood Casino at Greektown operated by Penn Entertainment and MotorCity Casino. The unions, however, will continue the strike, which has been ongoing for more than a …

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In the Market: Inside Wall Street’s scramble after ICBC hack

17 Nov 2023

By Paritosh Bansal (Reuters) -The cyber hack of Industrial and Commercial Bank of China’s U.S. broker-dealer was so extensive on Wednesday, even the corporate email stopped working and forced employees to switch to Google mail, according to two people familiar with the situation. The blackout left the brokerage temporarily owing BNY Mellon $9 billion, an …

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Italian debt markets sanguine ahead of Moody’s ratings test

17 Nov 2023

By Gavin Jones and Sara Rossi ROME (Reuters) – Investors will nervously await a review of Italy’s ratings on Friday, although analysts see little risk that Moody’s will relegate the country’s debt to junk status, a move that would likely jolt markets around Europe and beyond. Moody’s rates Italy Baa3, just one notch above non-investment …

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Column-Geopolitical angst more a market feature than shock :Mike Dolan

17 Nov 2023

By Mike Dolan LONDON (Reuters) – Even with two geopolitically risky wars raging and a series of critical elections next year, there’s little in annual outlooks suggesting investors should head for the bunkers. Judging by a torrent of 2024 investment advisories already filling inboxes, anxious geopolitics – turbulent for over five years amid trade wars, …

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Japan Oct CPI seen accelerating, staying above BOJ’s target: Reuters poll

17 Nov 2023

TOKYO (Reuters) – Japan’s core consumer inflation likely accelerated again in October, staying above the central bank’s 2% price target for a 19th straight month, a Reuters poll found on Friday. The nationwide core consumer price index (CPI), which strips off volatile fresh food items, likely grew 3.0% in October from a year ago, according …

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Germany’s budget committee interrupts 2024 budget deliberations -panel members

17 Nov 2023

By Maria Martinez BERLIN (Reuters) -Germany’s budget committee interrupted final deliberations on the 2024 draft budget early on Friday morning, according to the chief budget officers of the coalition government, after a constitutional court ruling threw negotiations into disarray. Germany’s ruling coalition is scrambling to fix a large hole in its finances after a court …

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IMF approves $35 billion credit line for Mexico

16 Nov 2023

MEXICO CITY (Reuters) -The International Monetary Fund’s executive board has approved a two-year, $35 billion flexible credit line for Mexico, it said in a statement on Thursday, noting the Latin American country’s economy is undergoing a broad-based expansion. The Mexican authorities stated their intention to treat the new arrangement as precautionary and are set on …

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