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Modi says India aims to become developed nation in 25 years
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New Zealand to deploy 120 troops to Britain to train Ukrainian troops
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Exclusive – PDVSA pauses oil-for-debt shipments to Europe, wants product swaps
Drought in England, fires rage in France as heatwave persists
Date: August 12, 2022
(Corrects date in dateline) By Stephane Mahe and Manuel Ausloos SAINT-MAGNE, France (Reuters) -Firefighters from across Europe came to France’s rescue on Friday to battle a massive wildfire, while fire also raged in Portugal and parts of England faced a severe drought, as successive heatwaves renewed the focus on climate change risks. Much of Europe...
Oil falls 2% on expectations that U.S. Gulf supply disruption will ease
Date: August 12, 2022
By Stephanie Kelly NEW YORK (Reuters) -Oil prices plunged around 2% on Friday, on expectations that supply disruptions in the U.S. Gulf of Mexico would be short-term, while recession fears clouded the demand outlook. Futures, however, were still on track for a weekly gain. Brent crude futures fell $1.47, or 1.5%, to $98.13 a barrel...
Global stocks rise, U.S. yields fall as inflation slows
Date: August 12, 2022
By Chibuike Oguh NEW YORK (Reuters) – Global equity markets rose while U.S. Treasury yields fell on Friday as investors tempered their expectations of the scale of the Federal Reserve’s interest rate raising cycle as falling oil prices helped to cool inflation. Market sentiment has been buoyed by U.S. Labor Department data this week showing...
Waning fears over U.S. inflation push FTSE 100 to fourth weekly rise
Date: August 12, 2022
By Sruthi Shankar (Reuters) -Britain’s top share index logged its fourth consecutive week of gains on Friday, as global sentiment got a boost from signs of waning U.S. inflation even as domestic data showed Britain’s economy contracted in the second quarter. The blue-chip FTSE 100 ended 0.5% higher at a two-month high. The index has...
Proposed U.S. corporate tax hike won’t save global minimum tax deal
Date: August 12, 2022
By David Lawder WASHINGTON (Reuters) – A corporate minimum tax in a congressional spending bill set for passage on Friday will not bring the United States into compliance with a separately negotiated 137-country deal for a global minimum tax. Although both taxes are the same rate – 15% – they are separate items that apply...
Explainer-How could the new U.S. corporate minimum tax affect companies?
Date: August 12, 2022
By Rose Horowitch and David Lawder (Reuters) – The main revenue source in the new U.S. 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 U.S. House of Representatives was scheduled...