Tag: Economies

New US-China Trade Plan Leaves Industry Hungry for Specifics

October 5, 2021
Asia & PacificBusiness & EconomyChinaChina Business & EconomyEconomiesInternationalInternational Relationskatherine taitariffstrade dealUSUS NewsUS-China relationsWorld
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WASHINGTON—Having waited eight months for U.S. Trade Representative (USTR) Katherine Tai’s promised “top-to-bottom” policy review of trade with China, some U.S. industries and experts were complaining about the plan’s lack of specifics on negotiations or timing. Unveiling her plan on Monday, Tai, President Joe Biden’s top trade official, pledged to hold talks with Chinese officials…

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Minister Confident Ireland Will Join Global Corporate Tax Deal

October 5, 2021
Business & Economycorporate taxesEconomiesIrelandOrganisation for Economic Co-operation and DevelopmentWorld
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DUBLIN—A senior Irish minister said on Tuesday he was confident the government would sign up to an overhaul of global corporate tax rules this week after updated proposals were circulated to negotiating countries. Ireland, the low-tax European headquarters for a number of the world’s largest multinationals, has declined to sign up to the Organisation for…

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Taiwan September Exports Set to Rise for 15th Straight Month: Poll

October 5, 2021
Asia & PacificBusiness & EconomyEconomiesexportsInternationalpollseptemberTaiwanWorld
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TAIPEI—Taiwan’s exports likely rose for a 15th straight month in September, a Reuters poll showed, boosted by strong demand for electronic goods as the global economy traces its path back to recovery. Taiwan, a global hub for chip production and a key Apple Inc. supplier, is one of Asia’s major exporters of technology goods, and…

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Heads or Tails? White House Rules Out $1 Trillion Platinum Coin

October 5, 2021
$1 trillion coinBusiness & Economydebt ceilingEconomieseconomyExecutive BranchPlatinum coinPoliticsUS
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President Joe Biden and his administration will not mint a proposed $1 trillion coin to resolve the U.S. debt ceiling crisis as it is not a “viable” option, White House Press Secretary Jen Psaki confirmed to reporters Monday. “We obviously look at a range of options, and none of those options were viable, either because…

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Exclusive: Bank of Mexico Deputy Governor Sees More Rate Hikes Coming

October 5, 2021
AmericasbankBanxicoBusiness & EconomyCompaniesdeputyEconomiesgovernorhikesJonathan HeathMexicorateWorld
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MEXICO CITY—The Bank of Mexico’s cycle of interest rate hikes is not yet over and one or two more increases are likely amid concerns about inflation, though any monetary policy moves will depend on incoming data, Bank of Mexico Deputy Governor Jonathan Heath said. Expressing concern about above-target inflation, Banxico, as the bank is known,…

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US Trade Deficit Hits Record High as Consumer Goods Imports See Sharp Rise

October 5, 2021
ArchivedBusiness & EconomyEconomieseconomyimportInternationalMarketsNewstrade deficitUSUS NewsWorld
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The U.S. trade deficit in goods and services rose to a record high in August, largely on the back of a rise in imports as businesses continued to build up inventories in response to strong consumer demand. The Commerce Department said in an Oct. 5 statement (pdf) that the trade deficit—the difference between exports and…

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IMF Says Board Met With WilmerHale Lawyers on World Bank Data Probe

October 5, 2021
Business & EconomyChinaChina Business & EconomyEconomiesIMFInternationalInternational RelationsWorldWorld Bank
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WASHINGTON—The International Monetary Fund’s (IMF) executive board met on Monday with officials from the WilmerHale law firm about its probe of the World Bank’s “Doing Business 2018” report, and will meet soon with IMF chief Kristalina Georgieva, a spokesperson said. The WilmerHale report alleged that Georgieva, as the World Bank’s CEO in 2017, applied undue…

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EU Commission to Launch EU Budget Rules Review on October 19

October 5, 2021
budgetBusiness & EconomyCommissionEconomiesEUEuropeoctoberWorld
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LUXEMBOURG—The European Commission will publish on Oct. 19 its assessment of the economic impact of the pandemic on the European economy and its implications for EU budget rules as it launches a debate on how to change the rules that underpin the euro currency. EU budgets rules, called the Stability and Growth Pact, set limits…

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How to Prepare for Biden’s Tax Proposals

October 5, 2021
bidenBusiness & EconomyEconomiesInvestmenttaxes
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By Tom Wheelwright President Joe Biden’s long-proposed plans to increase the top income rate, capital gains, and corporate tax means that a well-thought-out strategy is more important than ever as we head into the end of the year. While not all of these proposals will be enacted, the best way to reduce their impact to…

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Futures Up as Big Tech Bounces From Selloff; Cyclicals Rise

October 5, 2021
bigBusiness & EconomyCompaniesEconomieseconomyfuturesInvestmentLocal NewsMarketsMedia & Big TechNew YorkNY NewsRegional-Local NewsselloffTechUSUS News
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U.S. stocks were set to rise at the open on Tuesday as technology shares recovered from a sharp selloff, while economy-sensitive cyclical stocks were in favor ahead of closely watched monthly payrolls data later in the week. High-growth stocks including Apple Inc., Amazon.com Inc., Microsoft Corp., and Alphabet Inc. rose between 0.2 percent and 0.6…

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