Global Economy
Analysis / Debt rule tweak can help UK avoid moron premium
Reeves has already pledged to fund day-to-day spending with taxes but has been vague about her borrowing plans.
Alibaba to pay $433.5 million to settle shareholder lawsuit over monopoly claims
Alibaba denied wrongdoing, saying it entered the settlement to avoid the cost and disruption of further litigation
Moody's cuts France outlook, opening door to credit downgrade
Moody's said the fiscal deterioration it has seen is "beyond our expectations and stands in contrast with governments in similarly rated countries that are tending to consolidate their public finances."
Russia hikes interest rates to 20-year high
The increase takes rates above an emergency level introduced in February 2022 -- just after Moscow ordered troops into Ukraine -- to their highest since 2003, with the regulator battling to stem the economic fallout of the conflict
Bangladesh may not regain US GSP soon
Bangladesh is unlikely to regain benefits offered under the generalised system of preferences (GSP) from the United States if the programme is revived in the near future because of several issues related to labour rights in the country, Finance Adviser Salehuddin Ahmed said yesterday.
China should use fiscal policy to boost growth: IMF
The Chinese government should use its tax-and-spend policies to help boost flagging economic growth, a senior IMF official told AFP ahead of key meetings this week in Washington.
New administrator forms 10-member panel to run BGMEA
They are: Md Shahidullah Azim, Enamul Haque Khan (Bablu), Miran Ali, M Mohiuddin Chowdhury, Asif Ashraf, Rezwan Selim, ANM Saifuddin, Md Shihabuduzza Chowdhury, Shams Mahmud and Sharif Zahir
Unilever beats third-quarter underlying sales estimate
The consumer goods giant said on Thursday it was keeping its full-year outlook for 3-5 percent underlying sales growth and an underlying operating margin of at least 18 percent
Half of UK firms to defer investment for tax hike
Almost half of medium-sized British companies plan to delay investment plans due to last month’s rise in corporation tax, a survey published on Monday found.
India’s note withdrawal to improve liquidity
The Indian central bank’s decision to withdraw its highest denomination currency note from circulation is likely to improve banking system liquidity, bringing down recently elevated short-term rates, analysts and bankers said.
Oil price steady
Oil prices were steady on Monday as caution relating to US debt ceiling talks dragged on optimism over demand later in the year and offset support from lower supplies from Canada and Opec+ producers.
China keeps rates unchanged
China kept its benchmark lending rates unchanged for the ninth month in May on Monday, matching market expectations, as a weakening yuan and widening yield differentials with the United States limited the scope for any substantial monetary easing.
Abu Dhabi sees $2b in investment opportunities in S Korea
Abu Dhabi organisations have identified about $2 billion of investment opportunities in South Korea after the two sides agreed to expand business ties in January, a joint statement said on Monday.
Underinvestment could trigger oil market volatility
Opec Secretary General Haitham Al Ghais said on Monday that underinvesting in the oil and gas sector could cause market volatility in the long term and imperil growth.
Oil slips as US debt caution offset supply concerns
Brent crude futures fell 48 cents, or 0.6 per cent, to $75.10 a barrel by 0201 GMT while US West Texas Intermediate (WTI) crude for July delivery, the more actively traded contract, fell 45 cents, or 0.6 per cent, to $71.24.
Ford recalls 422,000 SUVs
Ford Motor Co is recalling 422,000 sport utility vehicles in the United States because the video output may fail even after getting a prior recall repair, preventing the rear-view camera image from displaying.
Biden says Republican debt ceiling demands ‘unacceptable’
President Joe Biden on Sunday slammed Republican demands in negotiations to resolve the US debt ceiling standoff as “unacceptable” but said a solution can still be found before a disastrous default.
Fumigation of US cotton not required
Bangladesh has again demanded that garments made from US cotton be provided duty-free access to the American markets as the government has withdrawn a provision requiring fumigation of American cotton, Senior Commerce Secretary Tapan Kanti Ghosh said yesterday.