Puerto Rico Gov. Pedro Pierluisi concedes defeat in surprise primary upset by congressional delegate
SAN JUAN, Puerto Rico (AP) — Puerto Rico Gov. Pedro Pierluisi concedes defeat in surprise primary upset by congressional delegate.
SAN JUAN, Puerto Rico (AP) — Puerto Rico Gov. Pedro Pierluisi concedes defeat in surprise primary upset by congressional delegate.
(Bloomberg) -- There’s mounting uncertainty about when and by how much Justin Trudeau’s government will be able to reduce the number of temporary residents in Canada, muddying a key input for fiscal and monetary policymakers.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisParis Trains Hit By Sabotage Hours Before Olympics Kick OffHarris Just Showed Why Trump Is So Afraid of HerTrump Won’t Commit to Debate Until Harris Formally NominatedGreat Rotation Trade
It warns there is "downside risk" to various economic indicators because planned reductions in non-permanent residents are not explicitly included in federal budget projections.
BANGKOK (AP) — China ratcheted up its effort to reinvigorate its slowing economy Thursday by unexpectedly cutting a key policy rate and also doubling subsidies for electric vehicles bought to replace older cars.
HALIFAX — As the Nova Scotia government announced it ended the last fiscal year with a surplus of nearly $144 million, opposition parties called for changes to spending practices that allow the governing party to approve extra spending without oversight from the legislature.
The US economy is on the verge of an extremely rare achievement.
(Bloomberg) -- The assumptions that have driven this year’s global financial markets are being rapidly rethought.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisHarris Just Showed Why Trump Is So Afraid of HerStocks Caught in Tug of War Between Tech and Rest: Markets WrapTrump Won’t Commit to Debate Until Harris Formally NominatedI Changed My Mind. The Fed Needs to Cut Rates Now.In bond and currency markets, investors are racing to redeploy money amid moun
U.S. Treasury Secretary Janet Yellen told Reuters on Friday that "things look good" for Group of Seven wealthy democracies to agree the terms of a $50 billion loan to Ukraine backed by Russian assets by October. Yellen said in an interview on the sidelines of a G20 finance leaders meeting in Brazil that talks to advance the loan were constructive, including over U.S. demands for reassurances that the assets would stay frozen for a longer period of time. The $50 billion loan, agreed in principle by G7 leaders in June, would be serviced with proceeds generated by some $300 billion of Russian central bank assets frozen in the West after Moscow invaded Ukraine in early 2022.
RIO DE JANEIRO (Reuters) -The world's 20 biggest economies (G20) agreed on Thursday to work together to ensure the ultra rich are effectively taxed, in a declaration that seeks a balance between national sovereignty and more cooperation on tax avoidance. The declaration, which will be published on Friday, was a priority for Brazil, chairing talks of the G20 this year, whose leader Luiz Inacio Lula, a former factory worker, was pushing to include the "billionaire tax" on the G20 agenda. "With full respect to tax sovereignty, we will seek to engage cooperatively to ensure that ultra-high-net-worth individuals are effectively taxed," the G20 tax declaration, seen by Reuters, said.
U.S. prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September. The report from the Commerce Department on Friday also showed consumer spending slowed a bit last month. Signs of easing price pressures and a cooling labor market could boost the confidence of Fed officials that inflation is moving toward the U.S. central bank's 2% target.
New Brunswick Premier Blaine Higgs's promise to lower the provincial portion of the harmonized sales tax is a politically potent move and a callback to a similar Conservative commitment almost two decades ago.The HST is the most visible of taxes. It's itemized on sales receipts we look at every day — as former prime minister Stephen Harper pointed out in 2005, when he launched his election campaign with a promise to cut the federal portion of the tax."This tax cut is one you will see every time
The Bank of Canada emphasized that the national economy is slowing in announcing its decision to lower ...
Yet another favorable piece of economic data shows that price hikes are slowing and that long-unruly inflation appears to be tamed.
The Bank of Canada is shifting its focus to boosting the economy rather than suppressing inflation, which raises prospects of further interest rate cuts in the coming months, analysts say. The Canadian central bank lowered its benchmark rate for a second straight month on Wednesday, cutting by 25 basis points to 4.50%. Investors are pricing in 44 basis points of easing in total by the end of the year, which implies a policy rate 6 basis points below previous expectations.
RIO DE JANEIRO (Reuters) -Japan has urged its G20 peers to be increasingly vigilant to excessive foreign exchange rate fluctuations driven by speculation, Tokyo's top currency diplomat Masato Kanda said on Thursday. Speaking at a press conference at the G20 finance ministers and central bank governors meeting in Rio de Janeiro, Kanda said attention needed to be paid to risks of prolonged high interest rates in some countries destabilising financial markets. "Japan has said we must be increasingly vigilant to spillover effects (of such risks) and excessive currency rate fluctuations as a result of speculation," said Kanda, vice finance minister for international affairs.
WASHINGTON (AP) — The Federal Reserve's favored inflation measure remained low last month, bolstering evidence that price pressures are steadily cooling and setting the stage for the Fed to begin cutting interest rates in September.
WASHINGTON (AP) — The nation’s economy accelerated last quarter at a strong 2.8% annual pace, with consumers and businesses helping drive growth despite the pressure of continually high interest rates.
The next couple of years are shaping up to be solid for the U.S. economy. Inflation is returning to normal. As that happens, the Federal Reserve is preparing to cut interest rates. A huge burst of infrastructure spending under the Biden administration has taken time to ramp up, but projects both small and large are likely to break ground in earnest in 2025 and 2026. Things can always go wrong — the job market could cool more than expected, financial market problems could surface, and risks tied
MOSCOW (Reuters) -Russia's central bank hiked its key interest rate by 200 basis points to 18% on Friday, the highest level in more than two years, and vowed to continue tightening until inflation rates in an overheated economy come down. The Bank of Russia raised rates to 20% in an emergency move soon after the Kremlin sent Russian troops into Ukraine in February 2022. "For inflation to begin decreasing again, monetary policy needs to be tightened further," the bank said in a statement.
(Bloomberg) -- A return to the White House for Donald Trump poses a risk to the US stock market, according to Ralph Schlosstein, the chairman emeritus of Evercore Inc.Most Read from BloombergTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisHarris Just Showed Why Trump Is So Afraid of HerMarkets Tear Up Popular Trades That Reached ‘Stupid Levels’Stocks Caught in Tug of War Between Tech and Rest: Markets WrapTrump Won’t Commit to Debate Until Harris Formally NominatedThe former pres
Fewer Americans filed for unemployment benefits last week, but applications remained at recently elevated, though not troubling levels.