Economy and Policy

  • India's Prime Minister Modi speaks to the media inside the parliament premises on the first day of the winter session in New Delhi

    Prime Minister Narendra Modi on Saturday defended his crackdown on the cash economy that has left businesses, farmers and families suffering, saying it was necessary to keep inflation in check and ensure basic amenities for all. Modi's decision last month to scrap 500 rupee and 1,000 rupee banknotes as part of a crackdown …

  • Mumbai, Dec 3 (IANS) Volatility marked the Indian equity markets during the just concluded weekly trade as gains made on the back of value buying and positive domestic macro-economic data were ceded due ...

  • The rally in regional U.S. bank stocks that followed last month's election of Donald Trump may not be over, but investors may have to wait for policy to take shape for the massive move to extend further. The S&P 600 index of small-cap banks (.SPSMCBKS) has surged more than 20 percent since Trump's surprise Nov. 8 victory, …

  • Engineering conglomerate Odebrecht took out full-page advertisements in Brazil's main newspapers on Friday to apologise to Brazilians for its involvement in the country's biggest ever corruption scandal. The apology by Latin America's largest engineering firm was received with scepticism in a country with a history of …

  • The headquarters of German chip equipment maker Aixtron SE is pictured in Herzogenrath

    FRANKFURT/WASHINGTON (Reuters) - President Barack Obama blocked a Chinese investment fund from acquiring the U.S. business of German semiconductor equipment maker Aixtron (AIXGn.DE) because the deal posed a risk to American national security, the Treasury Department said on Friday. Obama's executive order barring China's …

  • Job seekers break out to visit employment personnel at "Hiring Our Heroes" military job fair in Washington

    The U.S. unemployment rate fell to a nine-year low of 4.6 percent in November, as employers added another 178,000 jobs, making it almost certain that the Federal Reserve will raise interest rates later this month. The unemployment rate hit its lowest level since August 2007 because more people found work but also because …

  • Engineering conglomerate Odebrecht took out full-page advertisements in Brazil's main newspapers on Friday to apologise to Brazilians for its involvement in the country's biggest ever corruption scandal. The apology by Latin America's largest engineering firm was received with scepticism in a country with a history of …

  • A Trader works at his post on the floor of the NYSE in New York City

    Bond yields fell on Friday as solid U.S. jobs data reinforced the view that the Federal Reserve would raise interest rates gradually, while stock and currency markets were cautious ahead of an Italian constitutional reform vote on Sunday. Crude futures rebounded on a weaker dollar, resuming a rise sparked by a cut in oil …

  • Traders work on the floor of the NYSE

    A U.S. Labor Department report showed employers in private and public sectors hired more people last month than economists had expected, further strengthening expectations of a hike when the U.S. central bank meets Dec. 13 and 14. "If it is in the high one hundred (thousands) on payrolls then everybody is pretty much just …

  • BUENOS AIRES/BRASILIA (Reuters) - An increasingly isolated Venezuela accused the Mercosur trade bloc of staging a "coup" on Friday after member nations suspended the socialist nation for failing to fulfill membership requirements. Following a decade in which strong growth and leftist policies across South America led the …

  • U.S. President-elect Donald Trump and Vice-President elect Mike Pence walk off Trump's plane upon their arrival in Indianapolis

    A drop in the U.S. unemployment rate last month to a 9-year low signals the risk of a collision between President-elect Donald Trump's plans to goose the economy and the Federal Reserve's efforts to tap the brakes with higher interest rates. Since Trump's election, officials at the U.S. central bank have cautiously introduced …

  • The United States has warned China it will blacklist Chinese companies and banks that do illicit business with North Korea if Beijing fails to enforce U.N. sanctions against Pyongyang, according to senior State Department officials. The tougher U.S. approach reflects growing impatience with China and a view that it has …

  • The headquarters of the European Central Bank are pictured in Frankfurt

    The European Central Bank is expected to announce a six-month extension to its quantitative easing programme next week, according to a majority of economists polled by Reuters, who also expect the bank to keep the size of its monthly asset purchases unchanged. ECB President Mario Draghi said on Wednesday the bank will …

  • Demonetisation drive dents automobile sales IANS - Fri 2 Dec, 2016 9:58 PM IST

    New Delhi/Chennai/Mumbai, Dec 2 (IANS) The government's demonetisation drive has impacted the Indian automobile sector, as many manufacturers reported lower sales figures for November and experts have predicted a further slowdown in the coming months. Majeed observed that manufacturers are even expected to reationalise …

  • Britain must negotiate a staggered departure from the European Union over several years or risk banks leaving the country, the biggest banking lobby group will warn the government in coming weeks, according to sources familiar with the matter. The British Bankers' Association will argue its case in a report to Prime Minister …

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