(Reuters) – After central banks across Latin America and the Caribbean raised rates to battle inflation, the International Monetary Fund is now pointing at less spending from governments to help slow down price pressures – while reminding the region’s rich to pay more taxes. “Fiscal policy can help monetary policy in reducing demand pressures,” the…
WASHINGTON (Reuters) – The U.S. Senate Labor committee will hold an April 20 confirmation hearing on U.S. Labor Secretary nominee Julie Su, panel chairman Senator Bernie Sanders said in a statement. President Joe Biden had nominated Su for the Cabinet post in February but her nomination has raised some pushback from industry circles. (Reporting by…
RABAT (Reuters) – The Moroccan government said on Thursday it adopted a decree cancelling the value-added tax on agricultural inputs to help lower prices of fresh produce and other agrifoods. Food inflation jumped to 20.1% in February, bringing general inflation to 10.1%, a level unmatched since the 1980s. The measure is in line with efforts…
By Michael S. Derby (Reuters) – Ongoing stress in the New York City commercial real estate sector is still creating economic headwinds for the region as it nears a complete recovery from the coronavirus pandemic, and it’s unclear when or if the sector will return to its prior strength, the New York Fed said Thursday….
(Reuters) – BNP Paribas said on Thursday it has appointed José Placido as chief executive officer of its U.S. operations, effective April 1. José will assume the role of CEO of BNP Paribas USA and will oversee all U.S.-business activities while retaining in the role of CIB Americas’ executive chief, the Paris-based bank said. The biggest…
BEIJING (Reuters) – China’s Foreign Ministry on Thursday sanctioned U.S. Representative Michael McCaul, chairman of the House of Representatives Foreign Affairs Committee, for visiting Taiwan, saying he had sent a “serious wrong signal to Taiwan independence separatist forces.” China views democratically governed Taiwan as its own territory and strongly objects to all high-level engagements between…
LONDON (Reuters) – British finance minister Jeremy Hunt said on Thursday there was no room for complacency in tackling low growth and high inflation after data showed the economy stagnated in February, hurt by strikes among public workers. “The growth numbers show there is absolutely no room for complacency. Inflation is higher than we want,…
By Stephen Nellis (Reuters) – Amazon.com Inc’s cloud computing division on Thursday released a suite of technologies aimed at helping other companies develop their own chatbots and image-generation services backed by artificial intelligence. Microsoft Corp and Alphabet Inc are adding AI chatbots to consumer products like their search engines, but they are also eying another…
By David Lawder and Andrea Shalal WASHINGTON (Reuters) -International Monetary Fund Managing Director Kristalina Georgieva said on Thursday that the global economy has proven remarkably resilient to multiple shocks, but has yet to overcome a combination of weak growth and sticky inflation. The IMF’s projection of 2.8% global growth for 2023 “is not enough to…
AMSTERDAM (Reuters) -The Dutch government on Thursday said it would support oil and gas company Shell in its efforts to reduce its CO2 and nitrogen emissions in the Netherlands in the coming years. The government said it would look at building infrastructure and accelerating permitting procedures needed for projects that would help Shell, one of…
