By David Shepardson and Diane Bartz WASHINGTON (Reuters) -Communications firm Vonage agreed to pay $100 million to resolve a Federal Trade Commission (FTC) lawsuit that alleged it had failed to provide a simple method for customers to cancel their telephone services and imposed “junk fees,” the agency said. Vonage, which was acquired by Ericsson earlier …
Vonage agrees to pay $100 million to settle U.S. FTC lawsuit Read More »
OTTAWA (Reuters) – Canada set out on Thursday C$11.3 billion ($8.2 billion) in new spending this year and next, and slashed its budget deficit forecast by nearly a third for the current fiscal year, in an economic update it promised would not push up inflation further. The finance ministry said the deficit for this fiscal …
Canada cuts 2022/23 deficit forecasts, pledges targeted new spending Read More »
OTTAWA (Reuters) – Below are some of the key proposals and takeaways from the annual fall economic statement unveiled by Canada’s Finance Minister Chrystia Freeland on Thursday. [nO8N2N5027 TAX ON SHARE BUYBACKS To introduce a 2% tax on the net value of all types of share buybacks by public companies in Canada, similar to a …
Factbox-Highlights from Canada government’s fall economic statement Read More »
By Caroline Valetkevitch NEW YORK (Reuters) – Investors and strategists are ramping up expectations for how much the Federal Reserve will raise interest rates in its effort to bring down inflation in the wake of Wednesday’s hawkish comments by Fed Chair Jerome Powell. Futures traders since late on Wednesday have slightly lifted expectations for the …
Banks raise Fed terminal rate forecasts after Powell’s hawkish tone Read More »
ISTANBUL (Reuters) -Turkish annual inflation climbed to a new 24-year high of 85.51% in October, official data showed on Thursday, slightly below forecast, after the central bank cut its policy rate despite surging prices. Inflation has surged since last year, when the lira slumped after the central bank began cutting its policy rate in an …
Turkey’s inflation hits 24-year high of 85.5% after rate cuts Read More »
LISBON (Reuters) – The European Central Bank has already made a large part of the necessary rate hikes to contain inflation in the euro zone, which is expected to reach its peak this quarter, ECB policymaker Mario Centeno said on Thursday. The ECB has raised interest rates by a combined 200 basis points over the …
ECB’s Centeno says large part of rate hikes should have been done Read More »
FRANKFURT (Reuters) – The European Central Bank must be attentive to policy decisions by the U.S. Federal Reserve as it influences global markets but it cannot just mirror moves in Washington, ECB President Christine Lagarde said on Thursday. “We have to be attentive to potential spillovers,” Lagarde told a conference in Riga. “We are not …
MADRID (Reuters) – The European Central Bank should hike interest further to bring inflation back under control, policymaker Joachim Nagel said on Thursday. “The ECB should not refrain from further hike rates, we need to increase them further to bring inflation down to our mid-term target,” Nagel said at an event in Madrid. He did …
ECB should hike interest rates further to combat inflation, Nagel says Read More »
(Reuters) – The Russian rouble hit a more than two-week low against the dollar in early trade on Thursday, as global oil prices slipped after the Federal Reserve raised interest rates and expectations of more tightening set the stage for further firming of the U.S. currency. The Fed lifted interest rates by three-quarters of a …
Russian rouble slides past 62 vs dollar to over 2-week low Read More »
AMSTERDAM (Reuters) – ING Groep NV, the largest Dutch bank, on Thursday reported a quarterly pre-tax profit of 1.38 billion euros ($1.36 billion), below expectations due to one-off charges, and rolled out a share buyback plan worth 1.5 billion euros. Like other large European banks that have reported stable third-quarter results, ING benefited from higher …
ING Groep launches $1.5 billion buyback despite Q3 pre-tax profit slump Read More »
