ANKARA (Reuters) – President Tayyip Erdogan repeated his unorthodox economic policy on Saturday, saying interest rates would be lowered further and inflation would fall as a result, days before inflation data for January is announced, adding Turkey’s economic woes would pass. Embroiled in a currency crisis fuelled by the central bank’s move to slash rates…
MELBOURNE (Reuters) -Australia will seek to be included in consultations about a trade dispute between the European Union and China launched by the EU at the World Trade Organisation, the Australian trade minister said on Saturday. Thursday’s EU challenge accuses China of discriminatory trade practices against Lithuania, saying they threatened the integrity of the single…
(Reuters) – Myanmar’s economy will remain critically weak for much of 2022 and will be “severely tested” by the impacts of a coup a year ago, but there are recent signs of stabilisation in manufacturing and exports, according to the World Bank. In its latest update on Myanmar’s economy, the World Bank projects growth of…
By Karen Freifeld (Reuters) – The Biden administration plans to spare everyday Russians from the brunt of U.S. export controls if Russia invades Ukraine, https://www.reuters.com/world/europe/russian-buildup-ukraine-border-includes-blood-wounded-us-officials-say-2022-01-28 and focus on targeting industrial sectors, a White House official said. “Key people” will also face “massive sanctions” a top Commerce official said in a separate speech on Friday. The…
NEW YORK (Reuters) – U.S. Senator Sherrod Brown on Friday said he met with President Joe Biden’s three latest nominees for the Federal Reserve board, calling them qualified and urging fellow lawmakers to support them. “There is no question that these nominees are qualified,” Brown, a Democrat, said in a statement issued Friday. “In my…
By Stephen Culp NEW YORK (Reuters) – Wall Street surged on Friday, notching its best day so far in 2022 after another zigzag session, ending a tumultuous week marked by mixed corporate earnings, geopolitical turmoil and an increasingly aggressive Federal Reserve. All three major U.S. stock indexes began the day in the red, but turned…
By David Shepardson and Daina Beth Solomon WASHINGTON (Reuters) – Three U.S. lawmakers on Friday urged General Motors and the Mexican government to safeguard worker rights ahead of a union vote next week of Mexican autoworkers at a pick-up truck plant in central Mexico. Representative Earl Blumenauer, who chairs a House Ways and Means subcommittee…
By Jan Strupczewski BRUSSELS (Reuters) – The European Union aims to invest tens of billions of euros to bolster its chip industry and double its share of global production to 20%, the bloc’s industry chief said on Friday, after a global shortage showed the risks of relying on Asian and U.S. suppliers. The EU’s ambitious…
By John McCrank NEW YORK (Reuters) -The U.S. Securities and Exchange Commission (SEC) late on Thursday approved the country’s 17th stock exchange, a subsidiary of Boston-based BOX Exchange, which will incorporate blockchain technology. The new exchange, named BSTX, aims to launch in the second quarter, said Jay Fraser, a director. It will initially trade securities,…
HOUSTON (Reuters) – The United Steelworkers union (USW) rejected a pay increase offered by lead oil company negotiator Marathon Petroleum in talks for a agreement covering U.S. refinery workers, people familiar with the matter said on Friday. The offer was for a 4% pay increase over three years for 30,000 refinery and chemical plant workers…
