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German Coalition Parties at Loggerheads as Budget Crisis Grows
Date: December 6, 2023
By Christian Kraemer and Andreas Rinke BERLIN (Reuters) -Germany’s coalition partners intensified efforts on Wednesday to find a way to plug a 17-billion-euro ($18.3 billion) hole in next year’s budget after failing to resolve the crisis overnight, increasing uncertainty about financial plans in Europe’s biggest economy. The failure of talks between coalition leaders before Wednesday...
Moody’s Cuts China Credit Outlook, Citing Lower Growth, Property Risks
Date: December 5, 2023
Moody’s cuts China credit outlook, citing lower growth, property risks (Reuters) – Ratings agency Moody’s cut its outlook on China’s government credit ratings to negative from stable on Tuesday, in the latest sign of mounting global concern over the impact of surging local government debt and a deepening property crisis on the world’s second-largest economy....
Fall in Euro Zone Nov Business Activity Adds to Recession Expectations -PMI
Date: December 5, 2023
Fall in euro zone Nov business activity adds to recession expectations -PMI LONDON (Reuters) – The downturn in euro zone business activity eased last month but still indicates the bloc’s economy will contract again this quarter as the dominant services industry continues to struggle to generate demand, a survey showed. Last quarter the economy contracted...
Markets Pin Hopes on Soft Landing, With One Eye on Recession Risk
Date: December 1, 2023
Markets pin hopes on soft landing, with one eye on recession risk By Yoruk Bahceli, Dhara Ranasinghe and Naomi Rovnick (Reuters) – A stellar rally in equities and bonds suggests market confidence is high for the world economy to reach a soft landing after a run of aggressive interest rate hikes. Yet labour markets are...
Global Growth to Slow but Avoid a Hard Landing -OECD
Date: November 29, 2023
Global growth to slow but avoid a hard landing -OECD By Leigh Thomas PARIS (Reuters) -The global economy will slow slightly next year but the risk of a hard landing has subsided despite high levels of debt and uncertainty over interest rates, the Organisation for Economic Cooperation and Development said on Wednesday. Global growth is...
OECD Says UK Needs Tougher Fiscal Policy Amid Tax Cut Talk
Date: November 29, 2023
OECD says UK needs tougher fiscal policy amid tax cut talk By Suban Abdulla LONDON (Reuters) – Britain’s government should tighten its budgetary belt, the OECD said on Wednesday, advice that is unlikely to be welcomed by Prime Minister Rishi Sunak who is expected to cut taxes again before a 2024 election. A week after...