(Reuters) – Russia spent 2 trillion roubles ($26 billion) on defence in January and February alone, a 282% jump on the same period a year ago, data on the budget portal showed, illustrating the spiralling costs for Moscow of its conflict in Ukraine. Rising military production and huge state spending are keeping Russia’s industry buzzing…
By Blake Brittain WASHINGTON (Reuters) – The U.S. Supreme Court on Monday declined to hear Teva Pharmaceuticals USA Inc’s challenge to a $235 million award to GlaxoSmithKline LLC in a patent dispute over generic drugs involving a heart medication. The justices turned away Israel-based Teva’s appeal of a lower court’s ruling reinstating the jury award…
By Andrew Chung (Reuters) -The U.S. Supreme Court on Monday agreed to hear a bid by President Joe Biden’s administration to block a lawsuit by several congressional Democrats seeking details of a government lease for a Washington hotel concerning when it was owned by his predecessor Donald Trump. The justices took up an appeal by…
By Marine Strauss BRUSSELS (Reuters) – Providing equitable access to appropriate housing in slums and other informal settlements could massively increase economic growth and boost life expectancy, a report to be published on Tuesday by home-building charity Habitat for Humanity shows. Proper housing could increase economic growth by up to 10.5%, while life expectancy could…
By Uditha Jayasinghe COLOMBO (Reuters) -The International Monetary Fund (IMF) mission in Sri Lanka will evaluate progress made on reforms so far and complete an exercise to improve governance in key areas of the economy, an IMF official said on Monday. An IMF team is in Colombo until May 23 as part of regular consultations…
By Chijioke Ohuocha ABUJA (Reuters) – Nigeria’s annual inflation rose to 22.22% in April from 22.04% the previous month, as the price of food continued to rise, the National Bureau of Statistics said on Monday. Inflation has remained elevated in Africa’s biggest economy, eroding savings and incomes, and prompting the central bank to hike interest…
ROME (Reuters) – Italy’s industry minister said on Monday that a cut in sales tax on baby products has not produced the expected fall in consumer prices and called for the country’s new inflation committee to hold an urgent meeting on the matter. To help families cope with the surge in inflation and encourage people…
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…
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…
