Global Economy
US consumer mood brightens, among Republicans in particular
US consumer sentiment climbed to a six-month high in October as declining interest rates helped improve buying conditions for big-ticket items like cars, but the uptick was most pronounced among Republicans who grew more confident in their party regaining the White House in the Nov. 5 presidential election.
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
Vietnam shoemaker for Nike, Adidas cuts almost 6,000 jobs
One of Vietnam’s largest shoe manufacturers for brands such as Nike and Adidas will cut thousands of workers at the end of next month, blaming a slump in orders, state media said Saturday.
Malaysian palm oil firms not hiring Bangladeshis over recruitment concerns
Migrant workers, especially from Indonesia, India, Bangladesh and Nepal, make up about 80% of the workforce on Malaysia's labour-reliant estates
Exclusive: G7 summit statement to target China's 'economic coercion'
Leaders of the Group of Seven (G7) countries are set to discuss concern about China's use of "economic coercion" in its dealings abroad as part of their larger joint statement next week, according to a US official familiar with the discussions.
Apple to launch first online store in Vietnam
Apple will launch its first online store in Vietnam next week, the company said Friday, hoping to cash in on the country’s young and tech-savvy population.
UK economy ekes out growth in Q1
Britain’s economy grew 0.1 per cent over the first quarter despite weakening in March, official data revealed Friday, as output continues to be hit by high inflation and strikes.
Fed policy on right track, but inflation still too high: officials
The Federal Reserve is getting interest rates closer to where they need to be to win the battle against inflation, a pair of US central bankers said on Friday, though neither gave a clear signal on whether they feel they have reached that point.
EU ministers back plan to reduce economic reliance on China
European Union ministers on Friday backed reducing the bloc’s economic dependence on China but will now have to figure out how to make that a reality, foreign policy chief Josep Borrell said.
G7 finance chiefs move to diversify supply chains
The G7 plans to launch a partnership scheme to diversify supply chains this year, the group’s finance ministers said Saturday following talks in Japan ahead of a major summit next week.
EU, US to pledge joint action over China concerns
Washington and the EU will pledge joint action to tackle concerns focused on China about non-market practices and coordinate their export controls on semiconductors and other goods at a meeting this month, a draft statement showed.
Europe set for two new gigafactories
Two electric vehicle battery makers plan to spend around 10 billion euros ($11 billion) on factories in Europe, they said on Friday, after Europe loosened state aid rules for green industry projects in a bid to win the subsidy race with the US.