EU chief Ursula von der Leyen visits flood-stricken region in Europe and pledges billions of euros in swift aid
WARSAW (AP) — EU chief Ursula von der Leyen visits flood-stricken region in Europe and pledges billions of euros in swift aid.
WARSAW (AP) — EU chief Ursula von der Leyen visits flood-stricken region in Europe and pledges billions of euros in swift aid.
(Bloomberg) -- An ex-member of the Bank of Canada’s governing body said officials should cut borrowing costs by half a percentage point later this month.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationSingapore Ends 181 Years of Horse Racing to Make Way for HomesFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsWhat Do US Vehicle Regulators Have Against Tiny Cars?For a Master of Brutalist Provocations, a Modest Museum AppraisalThere are
We fact checked the vice president’s claims
The latest American presidential election cycle is about to reach its climax -- in just a few weeks, voters will decide whether Vice President Kamala Harris or former president Donald Trump is the best person to lead the ship of state into the next chapter of American history. A crucial deciding factor in this (or any other) election? The economy.
Russia's budget surplus for the first nine months of 2024 stood at 169 billion roubles ($1.73 billion) or 0.1% of gross domestic product (GDP), compared to a deficit of 331.4 billion roubles one month earlier, the Finance Ministry said on Wednesday. The ministry stated that the budget's oil and gas revenues surged by 49.4% in January-September due to higher prices for oil, Russia's main export commodity, exceeding its earlier forecast baseline level. "In the coming months, a steady excess of oil and gas revenue over the baseline level is also expected," the ministry said.
Russia's economy can sustain itself for several more years before the Kremlin will be forced to make some tough choices, one expert writes.
OTTAWA — Statistics Canada says the country posted a merchandise trade deficit of $1.1 billion in August as lower oil prices weighed on exports.
A briefing deck prepared for top provincial Treasury Board officials this summer indicated that Newfoundland and Labrador received "$150 million federal revenue for new HMP" in the 2023-24 fiscal year.CBC News obtained that internal document late last week, through access to information.In February, online business publication allNewfoundlandLabrador reported that Ottawa could provide $150 million toward the construction of a replacement for Her Majesty's Penitentiary.The next month, then-infras
BEIJING (Reuters) -China's anti-dumping measures against brandies imported from the European Union are "legitimate trade remedy measures", the commerce ministry said on Wednesday, a day after imposing the temporary curb. French brands such as Hennessy and Remy Martin will face the strictures, adopted just days after the 27-nation bloc voted for tariffs on Chinese-made electric vehicles (EVs), sparking its biggest trade row with Beijing in a decade. China's commerce ministry said preliminary findings of an investigation showed that dumping of brandy from the European Union threatened "substantial damage" to domestic industry.
(Bloomberg) -- The World Bank expects China’s growth to weaken further in 2025 even with a temporary boost from recent stimulus measures, putting extra strain on regional economies. Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationSingapore Ends 181 Years of Horse Racing to Make Way for HomesFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsWhat Do US Vehicle Regulators Have Against Tiny Cars?For a Master of Brutalist Provocations, a Mode
(Bloomberg) -- When Prime Minister Keir Starmer and Chancellor of the Exchequer Rachel Reeves plotted Labour’s path to power in the UK, they banked on eye-catching moves to hike taxes on private equity and ultra-rich “non-dom” residents to fund key spending plans. Now, those promises are meeting reality.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsSingapore Ends 181 Years of Horse Raci
The twin hurricanes hitting Florida could distort October’s labor-market data, clip consumer spending and economic growth in the regions affected, and send food prices higher. Evacuations in the region could impact the labor market and lead to an elevated unemployment rate in the October jobs report. Hurricane Milton could wreak short-term havoc on U.S. economic data, even as it inflicts more lasting pain on Florida’s Big Bend region.
BERLIN (Reuters) -Germany's economy is expected to contract by 0.2% in 2024, the economy ministry said on Wednesday, which is likely to make it for the second year running the only member of the Group of Seven major industrial democracies to post shrinking output. Germany's economy was already the weakest among its large euro zone peers and other G7 countries last year, with a 0.3% decline in gross domestic product. If economic output contracts for a second consecutive year, which last happened in 2002-2003 when exporting and manufacturing industries struggled, Germany would be the only G7 economy in contraction, according to the latest projections of the International Monetary Fund.
Inflation figures released on Wednesday painted opposite scenarios for Latin America's two largest economies, indicating that Brazil will keep tightening its monetary policy to combat rising prices while Mexico brings its interest rate down. The annual headline inflation figures in the two countries did not differ that much from each other, but their price trends diverged and should keep monetary policy in the emerging country peers moving in different directions. Policymakers in the country have vowed to bring inflation back to their 3% target, which has a tolerance margin of plus or minus 1.5 percentage points, meaning they will likely hike interest rates again at their next meeting in November.
U.S. stock markets were set to open in the red on Wednesday, giving back some gains from the previous session’s tech-led rally. Attention will be on continued volatility in Chinese markets and the release of minutes from the Federal Reserve’s September meeting. Dow Jones Industrial Average futures were down 20 points, or 0.1%.
Boston Fed president Susan Collins said the central bank will likely need to cut interest rates further, the latest in a chorus of Fed policymakers to publicly support more monetary policy easing after the first cut in more than four years.
WASHINGTON (Reuters) -The Congressional Budget Office estimated on Tuesday a U.S. federal deficit of $1.834 trillion for fiscal 2024, the highest in the post-COVID era, as debt interest costs jumped sharply and outlays rose for Social Security, Medicare and health insurance tax credits. The estimate, which precedes the U.S. Treasury Department's year-end budget report later this month, shows a deficit up 11% from the $1.7 trillion fiscal 2023 gap but slightly lower than the $1.9 trillion deficit estimated in June by CBO. U.S. Vice President Kamala Harris is arguing that she would be more fiscally responsible as president than Republican rival Donald Trump, pledging to fully offset new spending with tax increases elsewhere.
(Bloomberg) -- Mizuho Financial Group Inc. is preparing for short-term market disruptions if investors’ predictions of a soft landing in the US prove wrong, by stocking up on easy-to-sell assets such as Treasuries.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsChicago’s $1 Billion Budget Hole Exacerbated by School TurmoilSingapore Ends 181 Years of Horse Racing to Make Way for HomesShoul
(Bloomberg) -- Brent crude soared above $80 a barrel — its highest price since August — as mounting tensions in the Middle East raised speculation that Israel may attack Iran’s oil infrastructure.Most Read from BloombergUrban Heat Stress Is Another Disparity in the World’s Most Unequal NationSingapore Ends 181 Years of Horse Racing to Make Way for HomesFrom Cleveland to Chicago, NFL Teams Dream of Domed StadiumsWhat Do US Vehicle Regulators Have Against Tiny Cars?For a Master of Brutalist Provoc
Gravity brought China's soaring stock market back to earth with a thud on Wednesday. Disappointment about the lack - so far - of follow-through on stimulus promises has triggered a pullback in a spectacular rally and could be a harbinger of further weakness in China-exposed assets trading in London and Europe. Metals and other commodities were on the slide along with China proxies such as the Australian dollar.
The stakes for this week's consumer inflation report are higher after last week's red-hot jobs report, BofA says.