LONDON (Reuters) – British businesses are cutting ties with China due to concerns about political tensions, a shift that is likely to stoke inflationary pressures, the head of the Confederation of British Industry (CBI) said in an interview published on Saturday. “Every company that I speak to at the moment is engaged in rethinking their…
By Anita Komuves BUDAPEST (Reuters) -Hungary will allow companies to pay their taxes in euros or dollars as well as forints, the government announced on Saturday, a move which analysts said could boost the country’s foreign currency reserves. Like other central European countries such as Poland, Czech Republic or Romania, Hungary is nowhere near adopting…
BUDAPEST (Reuters) -Hungary will allow companies to pay their corporate taxes in euros or U.S. dollars along with paying in forints, finance minister Mihaly Varga said in a Facebook post on Saturday. “For companies who earn revenues partly or fully in a foreign currency, the new rule could simplify processes,” Varga wrote, adding that the…
JAKARTA (Reuters) – Indonesia has blocked search engine website Yahoo, payments firm Paypal and several gaming websites due to failure to comply with licensing rules, an official said on Saturday, sparking a backlash in social media. Registration is required under rules released in late November 2020 and will give authorities broad powers to compel platforms…
BEIJING (Reuters) – The assets and risks of China’s “shadow” banking sector have declined significantly through continuous regulation, the state-run Securities Times on Saturday quoted a top regulator as saying. The sector has reduced by more than 29 trillion yuan ($4.3 trillion) as of the end of June from its historical high, Liang Tao, vice…
By Simon Lewis and David Brunnstrom WASHINGTON (Reuters) -The United States and Japan launched a new high-level economic dialogue on Friday aimed at pushing back against China and countering the disruption caused by Russia’s invasion of Ukraine. The two long-time allies agreed to establish a new joint research center for next-generation semiconductors during the so-called…
MEXICO CITY (Reuters) – Mexico’s manufacturing sector declined in July, with demand for the country’s goods hit by inflation after a long pandemic-driven downturn, a survey showed on Friday, despite hopes for a recovery. The seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers’ Index (PMI) fell to 48.5 in July from 52.2 in June. Aside…
By Katie Paul and Paresh Dave (Reuters) – Meta Platforms Inc Chief Executive Mark Zuckerberg told staffers the world’s biggest social media company had planned for growth too optimistically, mistakenly expecting that a bump in usage and revenue growth during COVID-19 lockdowns would be sustained. Zuckerberg, responding to an employee question at a company-wide meeting…
WASHINGTON (Reuters) – The U.S. Federal Aviation Administration (FAA) on Friday approved Boeing’s inspection and modification plan to resume deliveries of 787 Dreamliners, two sources briefed on the matter told Reuters. The FAA approved Boeing’s plan after lengthy discussions, a move that should allow Boeing to resume deliveries in August after it halted them in…
By Dietrich Knauth and Mike Spector (Reuters) -The parent of far-right conspiracy website InfoWars filed for U.S. bankruptcy protection on Friday as the company and its founder Alex Jones face up to $150 million in damages in a trial over longstanding falsehoods he perpetuated about the Sandy Hook elementary school massacre. Three other companies associated…
