Reuters US Economy

OTTAWA, Jan 27 (Reuters) – Canada recorded a C$3.55 billion ($2.67 billion) budget deficit for the first eight months of the 2022/23 fiscal year, partly due to higher debt charges, the finance ministry said on Friday. By comparison, Canada posted a C$73.70 billion deficit in the period from April to November 2021. Year-to-date revenues were …

Canada records C$3.55 billion budget deficit over first eight months of 2022/23 Read More »

By Jan Strupczewski BRUSSELS (Reuters) – Plans by the European Commission to create new European Union funding for the green industry are facing mounting opposition in the 27-nation bloc, as seven EU countries openly rejected the idea in a letter to the EU executive. The letter, seen by Reuters and dated Jan. 26, was signed …

Seven EU countries oppose new EU funding as response to U.S. subsidy plan – letter Read More »

SEOUL (Reuters) – South Korea’s huge national pension fund is set to see its pool of money depleted by 2055, earlier than expected, because of a shrinking population amid low economic growth, an official estimate showed on Friday. A government panel commissioned for the estimate, made every five years, said in a report that the …

South Korea pension fund will deplete faster than expected, report says Read More »

By Huw Jones LONDON (Reuters) – Banks in the European Union could increase lending by almost a third if regulators applied capital requirements in the same way as their U.S. counterparts, a study from the European Banking Federation and consultants Oliver Wyman said on Friday. Banking regulation is internationally coordinated by regulators, but differences remain …

Ease capital rules on EU banks to boost lending, banking industry says Read More »

By Leika Kihara TOKYO (Reuters) -The Bank of Japan said on Friday it will extend five-year loans against collateral to financial institutions, the second time it has made such an offer after ramping up the funds-supply operation this month to defend its yield control policy. The announcement underscores the central bank’s resolve to prevent simmering …

BOJ deploys funds-supply tool again as yields creep up Read More »

A look at the day ahead in European and global markets from Ankur Banerjee Chip giant Intel’s grim earnings report along with mixed U.S data that showed a resilient economy but a labour market that remains tight will likely dominate investors’ minds and dictate Friday’s trading. The U.S. chip bellwether expects to lose money in …

Marketmind: Stumbling away Read More »

By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy grew faster than expected in the fourth quarter, but that likely exaggerates the nation’s health as a measure of domestic demand rose at its slowest pace in 2-1/2 years, reflecting the impact of higher borrowing costs. The Commerce Department’s advance fourth-quarter gross domestic product report on …

U.S. economy posts strong growth in Q4, but with underlying weakness Read More »

BOGOTA (Reuters) – Colombia’s economy has high growth potential, boosted by agriculture, tourism and interconnectivity between different economic sectors, but will continue to depend on its oil and mining industries, a high-ranking official of the Inter-American Development Bank said on Thursday. The government of President Gustavo Petro wants to move Colombia away from its reliance …

Colombia’s economy has high growth potential but cannot ditch oil, mining -IDB Read More »