Reuters US Economy

By Paul Carrel and Madeline Chambers BERLIN (Reuters) -German Chancellor Olaf Scholz said on Wednesday his government would make Europe’s largest economy fit for the future by fostering investment in climate protection and digitalization, vowing no one would be left behind in this major transformation. The Social Democrat’s first major address to parliament since replacing …

Scholz vows to launch biggest transformation of German economy in a century Read More »

TOKYO (Reuters) – Japan’s lower house of parliament on Wednesday passed the government’s biggest-ever extra budget worth $316 billion as it looks to spur a recovery from COVID-19 pandemic. The first extra budget under new Prime Minister Fumio Kishida underscored the challenge of juggling hefty spending to protect the crisis-hit economy while managing the industrial …

Japan lower house passes record extra budget to prop COVID-hit economy Read More »

BEIJING (Reuters) -China’s coal output hit a record high in November as Beijing urged miners to ramp up production to ensure sufficient energy supplies in the winter heating season. China, the world’s biggest coal miner and consumer, produced 370.84 million tonnes of the dirty fossil fuel last month, data from the National Bureau of Statistics …

China coal output hits record in Nov to ensure winter supply Read More »

By Julie Gordon and David Ljunggren OTTAWA (Reuters) – Canada on Tuesday cut its deficit forecast for this fiscal year and pledged new funds to fight the Omicron coronavirus variant, while spending promised in this year’s election campaign would likely be put in a full budget early next year. In a fiscal update, the finance …

Canada sees smaller budget deficit, pushes promised spending to budget Read More »

WELLINGTON (Reuters) – New Zealand will return to budget surplus sooner than expected and will take on lesser debt as the economy has been more resilient than previously forecasted, the government said on Wednesday. The treasury department forecasted that deficit will widen to NZ$20.8 billion ($14.01 billion) in the current year but the books will …

New Zealand forecasts quicker return to surplus, lower net debt Read More »