Explainer: How could the new US corporate minimum tax affect companies?

Explainer: How could the new US corporate minimum tax affect companies?

Aug 12 (Reuters) – The main revenue source in the new US tax, climate and drugs bill is a novel 15% corporate minimum tax aimed at stopping large, profitable companies from gaming the Internal Revenue Service code and slashing their tax bills to zero. The US House of Representatives was scheduled to vote on Friday … Read more

The Fed may slow rate hikes, but policymakers say more is needed

The Fed may slow rate hikes, but policymakers say more is needed

The Federal Reserve building is pictured in Washington, DC, US, August 22, 2018. REUTERS/Chris Wattie/File Photo Register now for FREE unlimited access to Reuters.com Register Kashkari sticks to his view of 3.9% fed funds rate at end-2022 Evans sees a 3.4% policy rate this year Both push back on market expectations for rate cuts next … Read more

China’s factory inflation hits 17-month low, consumer prices speed up

China’s factory inflation hits 17-month low, consumer prices speed up

A worker walks past steel rolls at the Chongqing Iron and Steel plant in Changshou, Chongqing, China August 6, 2018. REUTERS/Damir Sagolj/File Photo Register now for FREE unlimited access to Reuters.com Register July producer inflation at lowest since Feb 2021 July consumer inflation at 2-year high PBOC seen staying accommodative to spur growth BEIJING, Aug … Read more

China’s exports gain steam but outlook cloudy as global growth cools

China’s exports gain steam but outlook cloudy as global growth cools

China July exports grow at faster pace, beat forecast Imports again disappoint, highlighting weak domestic demand Trade balance hit record high in July Weak foreign demand adds stress to trade, economic outlook BEIJING, Aug 7 (Reuters) – China’s export growth unexpectedly picked up speed in July, offering an encouraging boost to the economy as it … Read more

US labor market defies recession fears as job growth surges in July

US labor market defies recession fears as job growth surges in July

Nonfarm payrolls increased by 528,000 in July Unemployment rate falls to 3.5% from 3.6% in June Average hourly earnings rise 0.5%; up 5.2% year-on-year Participation rate falls to 62.1% from 62.2% in June WASHINGTON, Aug 5 (Reuters) – US job growth unexpectedly accelerated in July, lifting the level of employment above its pre-pandemic level and … Read more

Fed officials beat inflation road; 50-basis-point rate hike ‘reasonable’ next month

The Fed may slow rate hikes, but policymakers say more is needed

Aug 3 (Reuters) – Federal Reserve officials voiced their determination again on Wednesday to rein in high inflation, although one noted a half-percentage-point hike in the US central bank’s key interest rate next month might be enough to march towards that goal. “I start from the idea that 50 (basis points) would be a reasonable … Read more

OPEC+ agrees tiny output rise in setback for Biden

OPEC+ agrees tiny output rise in setback for Biden

OPEC to raise output target by 100,000 bpd from Sept OPEC faces output problems to meet existing targets US seeking higher OPEC production to counter Russia Biden trip, US arms sales failed to persuade DUBAI/LONDON, Aug 3 (Reuters) – OPEC+ is set to raise its oil output goal by 100,000 barrels per day, an amount … Read more

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

GLOBAL ECONOMY Factories squeezed by higher prices, weak demand

Staff work inside a non woven filter fabric factory, where the fabric is used to make surgical face masks, in Taoyuan, Taiwan, March 30, 2020. REUTERS/Ann Wang/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON/LONDON, Aug 1 (Reuters) – Factories across the United States, Europe and Asia struggled for momentum in July … Read more

Fed to unveil another big rate hike as signs of economic slowdown growth

Fed to unveil another big rate hike as signs of economic slowdown growth

US Federal Reserve Chair Jerome Powell takes questions during a news conference following a two-day meeting of the Federal Open Market Committee (FOMC) in Washington, US, June 15, 2022. REUTERS/Elizabeth Frantz/File Photo Register now for FREE unlimited access to Reuters.com Register WASHINGTON, July 27 (Reuters) – With the Federal Reserve expected to hike its key … Read more

Fed chair Powell is not done telling markets where rates will go

Fed chair Powell is not done telling markets where rates will go

WASHINGTON, July 26 (Reuters) – Since it began its current round of interest-rate hikes this year, the US Federal Reserve has aimed to let investors know ahead of time not just where rates are heading generally but exactly how big a move to expect each time. And despite some snags, including what analysts say was … Read more