By Ellen Zhang and Ryan Woo BEIJING (Reuters) – China’s exporters – the last reliable pillar of the world’s second-largest economy as it struggled with the pandemic, weak consumption and a property crisis – are warning of hard times ahead as softer overseas markets force them to shed workers, shift to lower-value goods and even …
Chinese economy’s export pillar shows cracks from global slowdown Read More »
SYDNEY (Reuters) – An independent review of the Reserve Bank of Australia (RBA) is set to consider every aspect of its monetary policy decision making and board make up, including how it communicates with the public and which inflation targets it should follow. In an 18-page statement of issues released on Thursday, the review panel …
Australia’s RBA under the microscope in policy review Read More »
OSLO (Reuters) – Norway’s trade surplus rose to a record 197.7 billion Norwegian crowns ($19.54 billion) in August, boosted by soaring prices for its gas exports to Europe, national statistics agency data showed on Thursday. With a daily output of around 4 million barrels of oil equivalent, almost equally divided between oil and gas, Norway …
Gas prices lift Norway’s August trade surplus to record Read More »
BERLIN (Reuters) – German wholesale prices grew slightly in August compared with the previous month, with a rise in dairy products and fats providing a bump, the Federal Statistical Office reported on Thursday. Prices for dairy, eggs and edible oils and fats were up 2.4% on the month while scrap and residual materials were down …
RIO DE JANEIRO (Reuters) -Brazilian Economy Minister Paulo Guedes on Wednesday said the constitutional spending cap needs to be adjusted in reference to a constitutional rule that the government has circumvented to make extraordinary expenditures since 2019. “There are cases in which the cap, despite being a symbol of austerity, visibly doesn’t work,” he said …
Brazil’s Guedes says spending cap needs adjustments Read More »
STRASBOURG (Reuters) – The European Commission will propose in October changes to EU debt rules that make them simpler and more flexible in reducing high debt and that will allow for strategic investment, the head of the Commission, Ursula von der Leyen, said on Wednesday. Speaking to the European Parliament in Strasbourg, von der Leyen …
EU Commission to propose more flexibility in debt reduction Read More »
STRASBOURG (Reuters) – The European Union needs to update its links with reliable countries and key growth areas and secure supply of lithium and rare earths that power the switch to a green economy, European Commission President Ursula von der Leyen said on Wednesday. Von der Leyen said she would push for ratification of trade …
EU to seek clearance of trade deals, set rules on raw materials – von der Leyen Read More »
BOGOTA (Reuters) – Colombia’s congress on Tuesday approved a record budget of 405.6 trillion pesos ($93.3 billion) for next year, including a spending increase meant to fund social programs promised by new leftist President Gustavo Petro. The figure – the highest in the country’s history – rose by 14.2 trillion pesos from the initial amount …
Colombia’s congress approves $93.3 billion budget for 2023 Read More »
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Tuesday hailed U.S. Commerce Secretary Gina Raimondo for her attitude in talks this week, saying she gave no indication of wanting to punish Mexico over an energy dispute between the two countries. Raimondo was part of a senior U.S. delegation led by Secretary of …
Mexico lauds U.S. commerce secretary for stance on energy spat Read More »
By David Randall NEW YORK (Reuters) – Star stock picker Cathie Wood of Ark Invest cautioned that the Federal Reserve is making a mistake with its widely-expected interest rate hikes to bring down high inflation and said she is more concerned about deflation. The benchmark S&P 500 fell more than 2% and Treasury yields surged …
Ark’s Cathie Wood calls Fed hikes a mistake and preps for deflation Read More »
