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PARIS (Reuters) -TotalEnergies announced plans on Tuesday to reward its French clients who reduce their electricity consumption, following government pressure to do more to help consumers tackle rising inflation and higher household bills. The French oil major, which is also a player in the retail energy market on its home turf, said it would award …

TotalEnergies to reward consumers who cut their electricity consumption Read More »

By Tetsushi Kajimoto TOKYO (Reuters) – Japan’s foreign reserves extended declines in October, following the previous month’s record drop, the Ministry of Finance said on Tuesday, reflecting the largest ever amount of yen-buying, dollar-selling intervention. The data comes alongside separate figures that confirmed Japan did not conduct stealth intervention in September and only entered the …

Japan foreign reserves fall for third month after intervention Read More »

By Lucy Craymer and Sameer Manekar (Reuters) -The Reserve Bank of New Zealand (RBNZ) said on Tuesday the current governor, Adrian Orr, had been reappointed for another five-year term starting in late March next year. New Zealand finance minister Grant Robertson said the reappointment followed the RBNZ’s board unanimous recommendation. “In light of global conditions, …

Adrian Orr reappointed as New Zealand central bank governor Read More »

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – U.S. Treasury yields rose in choppy trading on Monday after a highly-volatile week, as bond investors turned their focus to the all-important inflation data and the U.S. midterm elections on Tuesday that will determine control of Congress. The past week saw market gyrations amid another big Federal Reserve …

U.S. yields advance as markets brace for inflation data, midterm elections Read More »

BERLIN (Reuters) – Germany’s economic advisory council will recommend the government raise taxes on the wealthy to help finance the multi-billion euro relief packages it has agreed to fight the energy crisis, a German newspaper reported on Monday. The top income tax rate should be hiked or an energy solidarity tax imposed on high earners, …

Germany should hike taxes on rich to finance relief packages, advisers say – report Read More »

By Jan Strupczewski BRUSSELS (Reuters) -Measures to support the euro-zone economies against soaring energy prices could complicate 2023 budget plans if they need to be extended into the spring, the region’s finance ministers said on Monday, noting the potential impact on already-high inflation. The ministers, representing the 19 countries sharing the euro, are to return …

Euro zone grapples with coordinating energy support plans as recession looms Read More »

GENEVA (Reuters) – The WTO should tackle trade barriers for low carbon industries among other measures aimed at addressing the role of global trade in driving climate change, Director-General Ngozi Okonjo-Iweala said in a report published on Monday. The WTO’s World Trade Report 2022 launched at the COP27 climate summit in Egypt says the most …

WTO should attack trade barriers to low-carbon transition: chief Read More »

MEXICO CITY (Reuters) – Mexican inflation is expected to have moderated in October but remained well above the central bank’s target, a Reuters poll showed Monday, likely cementing forecasts monetary policy makers will again hike the benchmark interest rate. The median forecast of 16 analysts sees annual inflation at 8.46% in October, down from a …

Mexican headline inflation seen easing in October, core inflation up: Reuters Poll Read More »

By Ann Saphir (Reuters) – U.S. monetary policy is tighter than the Federal Reserve’s policy rate suggests, according to research published Monday by the San Francisco Fed, with financial conditions by September 2022 reflecting the equivalent of a 5.25% policy rate. The actual policy rate at the time was 3%-3.25%; even after last week’s increase, …

U.S. monetary policy tighter than benchmark rate suggests: Fed research Read More »

WASHINGTON (Reuters) – The International Monetary Fund on Monday said it had reached an agreement with Georgia that will allow for the disbursement of $30 million once it is approved by the global lender’s executive board. IMF staff met with Georgian authorities in Tbilisi from Oct. 26 to Nov. 7 and agreed on policies to …

IMF reaches preliminary agreement with Georgia to release $30 million Read More »