Reuters US Economy Archives - Page 577 of 585

Factbox-Bolsonaro government fails to deliver on privatizations

13 Dec 2021 13 Dec 2021

By Carolina Pulice (Reuters) – Brazilian President Jair Bolsonaro’s government has arranged more than 35 privatizations during its time in office. However, political pressures and lack of support from citizens and Congress have forced it to back down on its promises. Here are some key facts: INITIAL PLANS In April 2020, Privatization Secretary Salim Mattar …

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Peru mining chamber says tax hike proposal risks $50 billion investment

13 Dec 2021 13 Dec 2021

By Marco Aquino LIMA (Reuters) – Peru’s mining chamber lambasted on Monday a government proposal to raise taxes on the sector by at least 3 percentage points, saying it would put more than $50 billion in future investments at risk in the world’s second largest copper producer. Peru’s Finance Minister Pedro Francke said on Sunday …

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U.S. Treasury’s Yellen endorses G7 statement on antibiotics

13 Dec 2021 13 Dec 2021

WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Monday endorsed a G7 finance leaders statement supporting development of new antibiotics to combat growing microbial resistance that is causing a “silent pandemic” that annually kills 700,000 people globally. The G7 finance ministers, who met virtually on Monday, agreed to take additional steps to address increasing drug-resistant …

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Turkish lira plummets to new low, dragging central bank to the rescue

13 Dec 2021 13 Dec 2021

By Ece Toksabay and Jonathan Spicer ISTANBUL (Reuters) -Turkey’s lira crashed as much as 7% to a record near 15 to the dollar on Monday before whip-sawing back after the central bank intervened, gripped by worries over President Tayyip Erdogan’s risky new economic policy and prospects of another rate cut. The central bank said it …

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Saudi Arabia expects 2022 budget surplus after years of deficit

13 Dec 2021 13 Dec 2021

By Yousef Saba RIYADH (Reuters) -Saudi Arabia said on Sunday it expected to post its first budget surplus in nearly a decade next year, as it plans to restrict public spending despite a surge in oil prices that helped to refill state coffers hammered by the pandemic. After an expected fiscal deficit of 2.7% of …

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UK shopper numbers fall ahead of new COVID restrictions

13 Dec 2021 13 Dec 2021

LONDON (Reuters) -Shopper numbers across Britain fell 1.1% in the week to Dec. 11 versus the previous week, driven by a 2.7% drop in activity on high streets as new COVID-19 restrictions spooked shoppers, researcher Springboard said on Monday. It said that whilst the government’s COVID-19 “Plan B” restrictions for England did not come into …

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Colombia central bank seen raising rate to 3%, continuing hikes in 2022

13 Dec 2021 13 Dec 2021

By Nelson Bocanegra BOGOTA (Reuters) – Colombia’s central bank board is expected to raise the benchmark interest rate by 50 basis points to 3% this week and continue increases throughout 2022 as policymakers try to tamp down above-target inflation, a Reuters survey showed on Monday. Twenty-one analysts said in a survey a half-point increase at …

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Fitch puts 13 Turkish banks on downgrade warnings

13 Dec 2021 13 Dec 2021

LONDON (Reuters) – Credit rating agency Fitch has put 13 Turkish banks on downgrade warnings following a similar move on the government’s sovereign rating last week. The moves come after three central bank interest rate cuts in quick succession despite inflation topping 21% has triggered a more than 40% slump in the lira since September. …

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Take Five: Ready for a central bank bonanza?

13 Dec 2021 13 Dec 2021

(Reuters) -It’s a bumper week for central banks in the United States, the euro zone, Japan, Britain, Mexico and Russia. And will Turkey’s central bank deliver more cuts? The China Evergrande Group saga moves into the next stage after ratings agency Fitch calls a default. Plus: Is SPAC-mania back from the dead? Here’s your week …

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Spanish government in no hurry to sell Caixabank stake, says minister -Expansion

13 Dec 2021 13 Dec 2021

MADRID (Reuters) -The Spanish government is in no rush to sell its 16% stake in Caixabank, Economy minister Nadia Calvino said in an interview with Spanish newspaper Expansion. “We are in no hurry to do so,” Calvino said in the interview published on Monday, when asked when the state planned to offload its holding in …

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