Economy News

File photo of private security organisation contractor listening to a radio while carrying out his duty at a guard tower at Camp Nathan Smith in Kandahar city

Afghanistan targets US defense contractors in row over back taxes

By Jessica Donati KABUL (Reuters) - Afghanistan is threatening to crack down on U.S. defense contractors it says owe hundreds of millions of dollars in back taxes, including by freezing their bank accounts and refusing to renew yearly business licenses when they expire. The United States disputes some of the payment demands, saying companies were exempt under military agreements in force at the …

  • File photo of private security organisation contractor listening to a radio while carrying out his duty at a guard tower at Camp Nathan Smith in Kandahar city
    Afghanistan targets U.S. defense contractors … Reuters - 8 hours ago

    By Jessica Donati KABUL (Reuters) - Afghanistan is threatening to crack down on U.S. defense contractors it says owe hundreds of millions of dollars in back taxes, including … More »Afghanistan targets U.S. defense contractors …

    File photo of private security organisation contractor listening to a radio while carrying out his duty at a guard tower at Camp Nathan Smith in Kandahar city

    By Jessica Donati KABUL (Reuters) - Afghanistan is threatening to crack down on U.S. defense contractors it says owe hundreds of millions of dollars in back taxes, including by freezing their bank accounts and refusing to renew yearly business licenses when they expire. The United States disputes some of the payment demands, …

  • Paige Leonard speaks with a recruiter from a jewelry and gem company during the GIA Jewelry Career Fair in New York in this file photo
    Mixed U.S. jobs report dampens September … Reuters - 9 hours ago

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth slowed in June and Americans left the labor force in droves, tempering expectations for a September interest … More »Mixed U.S. jobs report dampens September …

    Paige Leonard speaks with a recruiter from a jewelry and gem company during the GIA Jewelry Career Fair in New York in this file photo

    By Lucia Mutikani WASHINGTON (Reuters) - U.S. job growth slowed in June and Americans left the labor force in droves, tempering expectations for a September interest rate hike from the Federal Reserve. The Labor Department said on Thursday nonfarm payrolls rose 223,000 last month after a downwardly revised 254,000 increase …

  • Pro-EU protester places a sticker that reads "Yes to Greece, Yes to the Euro" in Iraklio on the island of Crete
    IMF warns of huge financial hole as … Reuters - 10 hours ago

    By Renee Maltezou and David Chance ATHENS/WASHINGTON (Reuters) - The International Monetary Fund delivered a stark warning on Thursday of the huge financial hole facing … More »IMF warns of huge financial hole as …

    Pro-EU protester places a sticker that reads "Yes to Greece, Yes to the Euro" in Iraklio on the island of Crete

    By Renee Maltezou and David Chance ATHENS/WASHINGTON (Reuters) - The International Monetary Fund delivered a stark warning on Thursday of the huge financial hole facing Greece as angry and uncertain voters prepare for a referendum that could decide their country's future in Europe. Days after Greece defaulted on part …

  • Oil rigs back in service in U.S., Canada … CBC - 10 hours ago

    The number of North American oil rigs in use is up for the first time since December, as oil's sustained period in the $58 to $60 range encouraged drillers to turn on … More »Oil rigs back in service in U.S., Canada …

    The number of North American oil rigs in use is up for the first time since December, as oil's sustained period in the $58 to $60 range encouraged drillers to turn on the taps. The number of U.S. oil rigs rose by 12 to 640, after dropping for six months, according to drilling services company Baker Hughes. In Canada, …

  • Pedestrians walk at San Francisco square where an image of Pope Francis is displayed in La Paz
    Pope's South American trip: defending … Reuters - 11 hours ago

    The July 5-13 trip to Ecuador, Bolivia and Paraguay will be his first abroad since he made a clarion call for defense of the environment and the poor in his landmark … More »Pope's South American trip: defending …

    Pedestrians walk at San Francisco square where an image of Pope Francis is displayed in La Paz

    The July 5-13 trip to Ecuador, Bolivia and Paraguay will be his first abroad since he made a clarion call for defense of the environment and the poor in his landmark encyclical "Laudato Si" last month. It is also the Argentine pope's first trip to Spanish-speaking South America - he made a trip to Brazil for a youth festival …

  • A Royal Bank of Canada logo is seen on Bay Street in the heart of the financial district in Toronto
    RBC top adviser on Canadian equity issues … Reuters - 12 hours ago

    By John Tilak and Euan Rocha TORONTO (Reuters) - Royal Bank of Canada was the top adviser on Canadian equity issues in the first half of 2015 as acquisitions and the … More »RBC top adviser on Canadian equity issues …

    A Royal Bank of Canada logo is seen on Bay Street in the heart of the financial district in Toronto

    By John Tilak and Euan Rocha TORONTO (Reuters) - Royal Bank of Canada was the top adviser on Canadian equity issues in the first half of 2015 as acquisitions and the energy industry's need to strengthen balance sheets fueled record high deal flow, according to data from Thomson Reuters. The investment banking units of …

  • Production Associates inspect cars moving along assembly line at Honda manufacturing plant in Alliston, Ontario.
    Canada manufacturing activity expands … Reuters - 16 hours ago

    The Canadian manufacturing sector perked up in June, showing growth for the first time in five months as new business orders and employment improved, data showed on Thursday. … More »Canada manufacturing activity expands …

    Production Associates inspect cars moving along assembly line at Honda manufacturing plant in Alliston, Ontario.

    The Canadian manufacturing sector perked up in June, showing growth for the first time in five months as new business orders and employment improved, data showed on Thursday. The RBC Canadian Manufacturing Purchasing Managers' index (PMI), a measure of manufacturing business conditions, rose to a seasonally adjusted 51.3 …

  • New Canadian five and 10 dollar bills, made of polymer, are displayed with the previously released 20, 50 and 100 dollar notes in Ottawa
    Canadian dollar to weaken on outlooks … Reuters - 16 hours ago

    By Anu Bararia and Leah Schnurr BENGALURU/OTTAWA (Reuters) - The Canadian dollar is likely to fall further in the coming months, hit by both a weak domestic economic … More »Canadian dollar to weaken on outlooks …

    New Canadian five and 10 dollar bills, made of polymer, are displayed with the previously released 20, 50 and 100 dollar notes in Ottawa

    By Anu Bararia and Leah Schnurr BENGALURU/OTTAWA (Reuters) - The Canadian dollar is likely to fall further in the coming months, hit by both a weak domestic economic outlook and an anticipated rise in interest rates in the United States, a Reuters poll showed. After a disappointing first quarter, the Canadian economy …

  • Lagarde sits for an interview at IMF headquarters in Washington
    IMF's Lagarde says Greece must reform … Reuters - Wed, 1 Jul, 2015

    By Anna Yukhananov WASHINGTON (Reuters) - One day after Greece became the first developed economy to default on a loan with the International Monetary Fund, the head … More »IMF's Lagarde says Greece must reform …

    Lagarde sits for an interview at IMF headquarters in Washington

    By Anna Yukhananov WASHINGTON (Reuters) - One day after Greece became the first developed economy to default on a loan with the International Monetary Fund, the head of the international lender on Wednesday suggested Greece should move to reform its economy before its European creditors give it a break on its debt. In …

  • Protesters wave Greek and EU flags during a pro-Euro rally in front of the parliament building, in Athens
    Greece's Tsipras digs in against … Reuters - Wed, 1 Jul, 2015

    By Renee Maltezou and Alastair Macdonald ATHENS/BRUSSELS (Reuters) - A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout … More »Greece's Tsipras digs in against …

    Protesters wave Greek and EU flags during a pro-Euro rally in front of the parliament building, in Athens

    By Renee Maltezou and Alastair Macdonald ATHENS/BRUSSELS (Reuters) - A defiant Prime Minister Alexis Tsipras urged Greeks on Wednesday to reject an international bailout deal, wrecking any prospect of repairing broken relations with European Union partners before a referendum on Sunday that may decide Greece's future in …

  • Brazil's President Dilma Rousseff speaks to members of the media after speaking at an investment summit regarding Brazil's infrastructure on a visit to New York
    Brazil's President Rousseff sees … Reuters - Wed, 1 Jul, 2015

    By Maria Carolina Marcello and Asher Levine BRASILIA/SAO PAULO (Reuters) - The popularity of Brazilian President Dilma Rousseff's government fell to a new low, driven … More »Brazil's President Rousseff sees …

    Brazil's President Dilma Rousseff speaks to members of the media after speaking at an investment summit regarding Brazil's infrastructure on a visit to New York

    By Maria Carolina Marcello and Asher Levine BRASILIA/SAO PAULO (Reuters) - The popularity of Brazilian President Dilma Rousseff's government fell to a new low, driven by a deteriorating economy, higher interest rates and a widening corruption scandal tarnishing her political party, a nationwide poll showed on Wednesday. …

  • U.S. Secretary of State Kerry meets with Iranian Foreign Minister Zarif at a hotel in Vienna
    To many ordinary Iranians, nuclear deal … Reuters - Wed, 1 Jul, 2015

    By Parisa Hafezi VIENNA (Reuters) - To Iran's leaders, solving a nuclear standoff with the West might be a question of maintaining geopolitical influence and prestige. … More »To many ordinary Iranians, nuclear deal …

    U.S. Secretary of State Kerry meets with Iranian Foreign Minister Zarif at a hotel in Vienna

    By Parisa Hafezi VIENNA (Reuters) - To Iran's leaders, solving a nuclear standoff with the West might be a question of maintaining geopolitical influence and prestige. Years of tightening international sanctions, designed to counter Iranian evasion and secrecy and guarantee that Iran's nuclear program can have no military …

  • File photo of pedestrians casting their shadows on a wall at a construction site in Beijing
    China and Japan show hints of healing, … Reuters - Wed, 1 Jul, 2015

    By Ian Chua SYDNEY (Reuters) - Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a … More »China and Japan show hints of healing, …

    File photo of pedestrians casting their shadows on a wall at a construction site in Beijing

    By Ian Chua SYDNEY (Reuters) - Growth in China's services sector picked up in June while big Japanese companies planned to ramp up spending at the fastest pace in a decade, offering hope that prospects are improving for Asia's largest economies despite sluggish factory growth. Wednesday's data fueled expectations that …

  • A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York
    JPMorgan builds up apartment-loan leader … Reuters - Wed, 1 Jul, 2015

    By David Henry NEW YORK (Reuters) - In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that … More »JPMorgan builds up apartment-loan leader …

    A view of the exterior of the JP Morgan Chase & Co. Corporate headquarters in the Manhattan borough of New York

    By David Henry NEW YORK (Reuters) - In September 2008, JPMorgan Chase & Co executives sifted through the rubble of Washington Mutual, the failed home loan bank that they had just won in a U.S. government auction. "It was an unexpected bonus," JPMorgan Chief Executive Jamie Dimon told Reuters in an interview, adding that …

  • Modi waves during the launch of “Digital India Week” in New Delhi
    After wifi at the Taj, Modi revives … Reuters - Wed, 1 Jul, 2015

    NEW DELHI/MUMBAI (Reuters) - India is reinvigorating an $18 billion campaign to provide fast internet connections for all, with a "digital week" aimed at popularizing … More »After wifi at the Taj, Modi revives …

    Modi waves during the launch of “Digital India Week” in New Delhi

    NEW DELHI/MUMBAI (Reuters) - India is reinvigorating an $18 billion campaign to provide fast internet connections for all, with a "digital week" aimed at popularizing Prime Minister Narendra Modi's campaign promise to connect 250,000 villages in India by 2019. The government's tech push, which plans to provide electronic …

  • Illustration file picture shows a man typing on a computer keyboard in Warsaw

    By Michael Martina BEIJING (Reuters) - China's legislature adopted a sweeping national security law on Wednesday that covers everything from territorial sovereignty to measures to tighten cyber security, a move likely to rile foreign businesses. A core component of the law, passed by the standing committee of the National …

  • Euro burdened by Greece, uncertainty … Reuters - Tue, 30 Jun, 2015
    A man gestures as he looks at boards displaying stock prices at the Australian Securities Exchange in central Sydney, Australia

    The IMF said Greece had asked for a last-minute repayment extension earlier on Tuesday, which the Fund's board would consider "in due course." European finance ministers will confer later on Wednesday over Greek Prime Minister Alexis Tsipras' request for a new two-year loan to pay debts that amount to nearly 30 billion …

 
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