By Lananh Nguyen and Saeed Azhar NEW YORK (Reuters) – The Federal Reserve has won the near-term battle against inflation, but interest rates are likely to stay higher for longer, Bank of America’s CEO Brian Moynihan said on Wednesday. While consumer spending growth has slowed from a year earlier the economy is headed toward a …
Bank of America CEO says Fed has won the near-term battle against inflation Read More »
ROME (Reuters) – Two Italian parliamentary committees have approved a government amendment that revisits a contested windfall tax on banks by giving lenders the option to boost their reserve buffers instead of paying the levy, lawmakers said on Wednesday. The proposed change, formalised by the government last week, received preliminary backing from the industry and …
Italy parliament panels amend bank tax to offer opt-out option Read More »
By Lucia Mutikani WASHINGTON (Reuters) – Orders for long-lasting U.S. manufactured goods rose in August as an increase in machinery and other products offset a drop in civilian aircraft, and business spending on equipment appeared to regain momentum after faltering early in the third quarter. The report from the Commerce Department on Wednesday also showed …
US durable goods orders beat expectations in boost to economy in third-quarter Read More »
By Abigail Summerville (Reuters) – Private equity firm Wind Point Partners is exploring a sale of Gehl Foods LLC that could value the U.S. manufacturer of dairy-based products at over $600 million, including debt, according to people familiar with the matter. Gehl has hired William Blair and Bank of Montreal as financial advisers on the …
Gehl Foods’ owner explores sale of dairy-based products maker -sources Read More »
BRASILIA (Reuters) -Brazil’s central bank chief emphasized the need to persevere in anchoring inflation to the official target during a hearing on Wednesday in Congress, where he faced questions about his personal investments and ties to the previous government. Speaking to lower house lawmakers, Roberto Campos Neto noted that core inflation had been “falling a …
Brazil’s central bank chief says tight policy needed despite inflation easing Read More »
BERLIN (Reuters) – German companies’ willingness to hire new staff took a hit in September, data from the Ifo Institute showed on Wednesday, underlining recession fears in Europe’s largest economy. The metric fell to 95.8 points from 97.0 points in August – its lowest point since February 2021 – due to a lack of orders, …
German firms less willing to hire amid lacklustre economy -Ifo Read More »
(Reuters) – Some members on the committee of Sri Lanka’s official creditors are pushing to reach a deal to restructure the nation’s debt without the participation of China, Bloomberg News reported on Wednesday citing people familiar with the matter. The members want the group of major creditors, including the U.S., Japan and India, to sign …
FRANKFURT (Reuters) – Lending across the euro zone slowed to a near stand-still in August, data from the European Central Bank showed on Wednesday, as economic growth continued to falter and the bloc was skirting a recession. Bank lending to businesses expanded by just 0.6% in August the lowest figure since late 2015, from 2.2% …
Euro zone lending slows again as bloc skirts recession Read More »
By Daniel Leussink TOKYO (Reuters) – A Japanese government panel will discuss over the coming months whether to give tax breaks to companies that invest in areas considered strategically important, a change similar in intent to the U.S. Inflation Reduction Act. The potential scheme would aim to make it more attractive for companies to make …
Japan govt to deliberate tax breaks for major corporate investments Read More »
BEIJING (Reuters) -China is expected to achieve economic growth of slightly more than 5% this year, an adviser to the central bank said on Wednesday. China’s economic situation is very different from that of Japan in the 1990s and there is no basis for the feared “Japanification”, Wang Yiming, a member of the Monetary Policy …
China expects 2023 economic growth of slightly more than 5% -PBOC adviser Read More »
