BEIJING (Reuters) – Australia’s Trade Minister arrived in Beijing On Thursday to meet his Chinese counterpart, as Canberra pushes for the removal of all trade barriers and for diplomatic relations to stabilise. Trade Minister Don Farrell said he would meet Chinese Commerce Minister Wang Wentao in Beijing and “be advocating strongly for the full resumption…
GENEVA (Reuters) – The number of internally displaced people (IDPs) reached a record 71.1 million worldwide last year due to conflicts such as the war in Ukraine and climate calamities like the monsoon floods in Pakistan, according to data published on Thursday. The Geneva-based Internal Displacement Monitoring Centre (IDMC) said that figure represented a 20%…
By Andrea Shalal NIIGATA, Japan (Reuters) -U.S. Treasury Secretary Janet Yellen on Thursday urged Congress to raise the $31.4 trillion federal debt limit and avert an unprecedented default that would trigger a global economic downturn and risk undermining U.S. global economic leadership. Yellen issued the latest in a series of increasingly stark warnings in remarks…
A look at the day ahead in U.S. and global markets from Mike Dolan Investor relief that ongoing U.S. disinflation takes pressure off the Federal Reserve to resume its 14-month interest rate rise campaign remains tempered by debt ceiling anxiety. While economists argue back and forth about the runes of April’s U.S. consumer price report,…
By Winni Zhou and Tom Westbrook SHANGHAI/SINGAPORE (Reuters) – China’s increasingly urgent efforts to tip its mountain of savings into the economy are running up against depositors shy of all but the safest investments, in the latest sign that weak confidence is holding back post-pandemic spending and growth. The latest move — prodding the “big…
By Andrea Shalal NIIGATA, Japan (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said many members of the Group of Seven advanced economies shared U.S. concerns about China’s use of “economic coercion” against other countries, and were considering how to counter such behavior. Yellen told a press conference that Washington had also long considered…
By Farah Master HONG KONG (Reuters) – For many of China’s manufacturers of baby and children’s products, painful reverberations from last year’s historic decline in the country’s population are already upon them. Domestic sales are shrinking and the scramble is on to develop new streams of revenue, whether that be diversifying into products for adults…
By Sarah Young and Paul Sandle LONDON (Reuters) -British engine maker Rolls-Royce said the new CEO’s plan to boost the company’s profitability was moving “at pace”, and it was on track to meet 2023 forecasts, buoyed by cost savings and the ongoing travel recovery. But shares in the company, which has been one of the…
By Andrea Shalal NIIGATA, Japan (Reuters) – Brazilian Finance Minister Fernando Haddad expressed serious concerns on Thursday that Argentina’s economic challenges and a major drought there could affect the country’s “political destiny” and usher in an extremist government. “We are worried because this situation may affect the political destiny of Argentina,” Haddad told U.S. Treasury…
By Kate Lamb LABUAN BAJO, Indonesia (Reuters) -Southeast Asia’s ASEAN grouping will not give up trying to end violence in fellow member Myanmar even though the ruling military there has made no progress on a peace plan it agreed with the bloc two years ago, Indonesia said on Thursday. Frustration has mounted among some members…
