By Ari Rabinovitch and Steven Scheer JERUSALEM (Reuters) – Many of the biggest and wealthiest cities in Israel went on strike on Monday over a plan to reallocate their tax income, opening a new front against the government that is already under pressure over a contested judicial reform. The strike, bringing school closures and a…
(Reuters) – A look at the day ahead in U.S. and global markets by Amanda Cooper. Time is running out to break the impasse on the U.S. government borrowing limit. President Joe Biden is meeting Congressional leaders on Tuesday to try to hash out a compromise to raise the debt limit and avoid a catastrophic…
By Alasdair Pal SYDNEY (Reuters) – PricewaterhouseCoopers (PwC) said the former CEO of its Australia business, who stepped down just last week, will retire from the firm, while the auditor also announced an independent review into a leak of confidential government tax information. Tom Seymour will retire as a partner at the firm on Sept….
SHANGHAI (Reuters) – China’s securities regulator and central bank cut the budget allocation for employee salaries in 2023, following reforms ordered as part of a broader drive to reduce income disparity. The 2023 budget report for the China Securities Regulatory Commission (CSRC) was released on Friday, while the People’s Bank of China (PBOC) budget report…
BRUSSELS (Reuters) – Euro zone industrial production fell by far more than expected in March as output of capital goods plunged, although the sharp reduction appeared to be a result of figures from Ireland, which are typically volatile. The European Union’s statistics office Eurostat said on Monday that industrial production in the 20 countries sharing…
BEIJING (Reuters) -A top Chinese envoy will begin a tour of Ukraine, Russia and other European countries on Monday in a trip Beijing says is aimed at discussing a “political settlement” to the Ukraine crisis. Li Hui, China’s special representative for Eurasian affairs and former ambassador to Russia, will also visit Poland, France, Germany on…
By Jan Strupczewski BRUSSELS (Reuters) – Euro zone economic growth will be faster than previously expected this year and next thanks to faster expansion in Italy and Spain, but inflation will also remain stubbornly high, the European Commission forecast on Monday. In its regular economic forecast for the 20 countries that share the euro, the…
FRANKFURT (Reuters) – Rapid European Central Bank rate hikes lowered inflation modestly last year but the biggest impact is expected only in 2024, the ECB said in an Economic Bulletin article on Monday, reaffirming a long-held view that policy works with big lags. The ECB has raised rates by a combined 375 basis points since…
By Leika Kihara and Kentaro Sugiyama TOKYO (Reuters) -A meeting of the government’s top economic council on Monday focused on whether recent rises in inflation and wage growth suggest Japan was approaching a sustained exit from deflation. With inflation accelerating globally and wage growth picking up in Japan, discussions also touched on the desirable timing…
By Engen Tham and James Pomfret SHANGHAI/HONG KONG (Reuters) – China’s clampdown on its consultancy and due diligence sector has driven companies to review their operations after some tested the limits of the laws and Beijing’s patience to meet surging demand as China emerged from its COVID-lockdowns. These consultancies thrived by providing investors – from…
