France’s Le Maire: Europe must defend its economic interests against the US subsidy package

PARIS, Nov 27 (Reuters) – France may try to negotiate some exemptions from the levies and limits imposed by the US anti-inflation law, but Europe must act to protect the bloc’s economic interests, said finance minister Bruno Le Maire Sunday. Le Maire will accompany French President Emmanuel Macron on a state visit to the United … Read more

Europe hardest hit by global slowdown -OECD

Global growth to fall from 3.1% in 2022 to 2.2% in 2023 National outlooks vary widely, with the UK lagging behind other economies Central banks urged interest rates to keep raising rates PARIS, Nov. 22 (Reuters) – The global economy should avoid recession next year, but the worst energy crisis since the 1970s will trigger … Read more

Spain approves mortgage support for more than 1 million households

Measures support vulnerable families with an income limit of 25,200 euros Threshold for medium-sized businesses set at 29,400 euros Measures include extending loan repayments to 7 years Promotions also provide grace periods and refund freezes Plan will be finalized on Tuesday after talks with banks MADRID, Nov 21 (Reuters) – The Spanish government will on … Read more

Third Japanese cabinet minister in a month resigns in blow for prime minister

TOKYO, Nov 21 (Reuters) – Japan’s interior minister resigned on Sunday over a funding scandal. He is the third cabinet member to leave in less than a month, a major blow to Prime Minister Fumio Kishida’s already shaky support. Kishida’s approval ratings have plummeted after the assassination of former Prime Minister Shinzo Abe in July … Read more

New budget from the Italian government to increase spending to fight the energy crisis

First comprehensive budget of Meloni’s new government Most of the money is earmarked to help tackle high energy bills Energy tax windfall, benefit restrictions expected ROME, Nov 20 (Reuters) – Italy’s new right-wing government plans to announce some €30 billion in new spending on Monday in a budget for next year, aimed primarily at mitigating … Read more

NY Fed: Bank liquidity may be tighter than thought, with policy implications

Nov 18 (Reuters) – The way the banking system manages its cash suggests the financial system may not be as good as many now understand, and that could have implications for how the Federal Reserve manages the size of its balance sheet, a paper says of the The Federal Reserve Bank of New York said … Read more

UK turns page on ‘Trussonomics’ with budget plan

New government wants to restore confidence in the British economy Hunt warns of more pain now that recession is likely underway Budget with tax increases and cuts Britain, the only G7 nation with an economy still below pre-Covid size LONDON, Nov 17 (Reuters) – Chancellor of the Exchequer Jeremy Hunt will bury Britain’s failed “Trussonomics” … Read more

Exclusive: Yellen warns of the need to lift the debt ceiling

NUSA DUA, Indonesia, Nov 12 (Reuters) – With the US Congress looming divided, Treasury Secretary Janet Yellen warned that lawmakers’ failure to raise the legal limit on US debt posed a “massive threat” to US creditworthiness and the functioning of US financial markets. Yellen told Reuters in an interview in New Delhi on Friday that … Read more

UK’s Hunt says he needs to raise taxes to restore the economy

The British Chancellor of the Exchequer says tax increases are coming ‘You must do what is right for the country’ – Hunt New forecasts show a recession is coming Priority is reducing inflation – Hunt LONDON, Nov 12 (Reuters) – Britain’s Chancellor of the Exchequer Jeremy Hunt said next week’s budget plan will need to … Read more

UK economy shrinks as feared long recession begins

GDP in Q3 -0.2% q/q vs Reuters poll -0.5% Economic output Sept -0.6% m/m vs poll -0.4% GDP revised upwards in July and August Economists still see UK going into recession Finance Minister predicts “tough road ahead” LONDON, Nov 11 (Reuters) – The UK economy shrank in the three months to September as the onset … Read more