SEOUL (Reuters) – South Korea’s finance minister said the government will scrap taxes on foreigners’ income from investments in treasury bonds and monetary stabilization bonds from Monday. Speaking to reporters late on Saturday in the United States after a meeting of Group of 20 finance ministers and central bankers, Choo Kyung-ho said the government decided…
LONDON (Reuters) – Britain’s new finance minister Jeremy Hunt said the government had gone “too far, too fast” in its drive for growth after Prime Minister Liz Truss was forced to fire his predecessor and make U-turns on tax-cutting plans amid market turmoil. Truss appointed Hunt on Friday to replace Kwasi Kwarteng, and said she…
(Reuters) – Elon Musk said on Saturday his rocket company SpaceX would continue to fund its Starlink internet service in Ukraine, citing the need for “good deeds,” a day after he said it could no longer afford to do so. Musk tweeted: “the hell with it … even though starlink is still losing money &…
By Leika Kihara WASHINGTON (Reuters) – Bank of Japan Deputy Governor Masazumi Wakatabe said on Saturday the yen’s recent fluctuations were “clearly too rapid and too one-sided,” signalling caution over the potential economic damage from the currency’s slump to 32-year lows against the dollar. Wakatabe, speaking in a seminar during the IMF and World Bank…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks dropped on Friday as worsening inflation expectations kept intact worries that the Federal Reserve’s aggressive rate hike path could trigger a recession, while investors digested the early stages of earnings season. In the last session of a volatile week, equities opened higher, then reversed course after…
ZAPORIZHZHIA, Ukraine (AP) — At least 11 Russian soldiers were killed Saturday in a shooting incident that underlined the challenges posed by Russian President Vladimir Putin’s hasty mobilization, just as Ukrainian troops pressed an offensive to reclaim the areas in the country’s south that were illegally annexed by Moscow. The Russian Defense Ministry said two…
LONDON (Reuters) – Britain’s new finance minister Jeremy Hunt is to delay a planned reduction to the basic rate of income tax by one year after the country’s fiscal watchdog warned that the public finances were in a worse state than expected, the Sunday Times reported. The newspaper said Hunt would put off for a…
ROME (AP) — The honeymoon is finished even before any marriage of political convenience in Italy could be formalized. The resounding victory by far-right leader Giorgia Meloni in the Sept. 25 general election isn’t sitting well with 86-year-old Silvio Berlusconi, the former three-time conservative premier who, four decades her senior, fancies himself the elder statesman…
VERSAILLES, France (AP) — Even close to midnight on a school night, the tipoff was too important to ignore: A nearby gas station had just been resupplied. So Aicha Far scooped up her 6-year-old and set off into the night. The home carer needed to refuel her car so she could continue looking after the…
ATHENS, Greece (AP) — A man drowned and there are reports of missing people as storms batter Crete, causing rivers to overflow and flooding locations across Greece’s biggest island on Saturday. The worst damage seems to have been done in the seaside town of Agia Pelagia, about 25 kilometers (16 miles) northwest of Iraklio, Crete’s…
