By Lewis Krauskopf NEW YORK (Reuters) -With a miserable first half for the stock market now in the history books, investors are assessing whether the U.S. economy can avoid a significant downturn as the Federal Reserve raises rates to fight the worst inflation in decades. The answer to that question stands to have a direct …
Recession? Soft landing? Stagflation? Investors assess economy’s strength Read More »
BEIJING (Reuters) – Several people protesting in the Chinese city of Zhengzhou over the freezing of deposits by some rural-based banks said they were injured on Sunday when heavy-handed security personnel dispersed the crowd. The banks froze millions of dollars worth of deposits in April, telling customers they were upgrading their internal systems. The banks …
Chinese protesters demanding bank deposits tussle with security men Read More »
NEW DELHI (Reuters) – The International Monetary Fund (IMF) said it is hoping for a resolution to Sri Lanka’s political turmoil that will allow a resumption of talks for a bailout package after a violent day of protests. Sri Lanka’s President Gotabaya Rajapaksa will resign on Wednesday after thousands of protesters stormed his official residence …
IMF hopes for resolution of Sri Lanka crisis to allow bailout talks Read More »
By Andrea Shalal WASHINGTON (Reuters) – Zambia’s official creditors are expected to offer it financial assurances by the end of July, paving the way for the first debt restructuring under a G20 framework set up during the height of the COVID-19 pandemic, two sources briefed on the matter said. Zambia would be the first of …
Zambia’s creditors seen offering financial assurances by end-July -source Read More »
DAKAR (Reuters) – The International Monetary Fund’s (IMF) executive board has approved a $638 million extended fund and extended credit facility for Benin under a 42-month arrangement to help the West African nation address pressing financing needs, the IMF said in a statement late on Friday. The decision will enable an immediate disbursement of $143 …
IMF executive board approves $638 million for Benin Read More »
WASHINGTON (Reuters) -The U.S. Treasury on Friday said it was moving to terminate a 1979 tax treaty with Hungary in the wake of Budapest’s decision to block the European Union’s implementation of a new, 15% global minimum tax. A Treasury spokesperson said that since Hungary lowered its corporate tax rate to 9% – less than …
U.S. Treasury to end 1979 treaty with global minimum tax holdout Hungary Read More »
(Reuters) – Talks between Canadian clerical workers and telecom services provider Bell Canada broke down after a week of negotiations, Unifor, the nation’s biggest private-sector labor union, said late on Friday. Unifor ACL, which represents the unionized workers at Bell Canada’s Bell Aliant unit in four Atlantic provinces, declared an impasse on Friday after talks …
Unifor union, Bell Canada reach impasse on labor negotiations Read More »
MEXICO CITY (Reuters) – Moody’s Investors Service on Friday cut Mexico’s credit rating by one notch as it expects weak investment prospects and increased structural rigidities to constrain activity in Latin America’s second-largest economy. Edging closer to speculative grade, Mexico’s senior unsecured long-term rating is now “Baa2”. “The economic scarring that took place during the …
Moody’s cuts Mexico’s credit rating by one notch, but improves outlook Read More »
SAN JOSE (Reuters) – Costa Rican President Rodrigo Chaves said on Friday he has ordered his ministers to launch talks to join the Pacific Alliance, a multinational pact focused on boosting trade, part of the new pro-business leader’s push for faster economic growth. The Central American country has been analyzing its inclusion in the group …
Costa Rica’s Chaves launches Pacific Alliance trade push Read More »
By Jorgelina do Rosario LONDON (Reuters) -The International Monetary Fund’s board of executive directors met on Friday to discuss the $44 billion Argentine programme for the first time since Silvina Batakis’ appointment as economy minister, two people with direct knowledge of the meeting said. The IMF later confirmed the meeting had taken place and gave …
