NEW YORK (Reuters) - U.S. companies are warning about rising wages eating into profit margins, increasing investor worries that next year’s expected drop in profit growth may be sharper than feared. FILE PHOTO - A sign for the Wall Street subway station is seen in the financial district in New York City, U.S., August 23,…
WASHINGTON (Reuters) - The United States snapped sanctions back in place on Monday to choke Iran’s oil and shipping industries, while temporarily allowing top customers such as China and India to keep buying crude from the Islamic Republic. FILE PHOTO: A general view of an oil dock is seen from a ship at the port…
Federal Reserve Chair Janet Yellen said that the U.S. central bank expects to continue to raise interest rates gradually as solid growth, a strong labor market and a healthy global economy lift prices even as she recognized that inflation has been surprisingly low. “My best guess is that these soft readings will not persist, and with…
The Senate tax-writing committee continues hammering out the details of its tax cut proposal on Tuesday, while the House may vote on its bill as soon as Thursday. Here are the latest developments, updated throughout the day:Plan Revisions Coming Later Tuesday, Hatch Says (9:36 a.m.)Senate Finance Committee Chairman Orrin Hatch said his “modified mark” isn’t…
BEFORE SETTING the budget each year, Britain’s chancellor of the exchequer is given a revised set of fiscal forecasts by the Office for Budget Responsibility (OBR), the official fiscal watchdog. In recent years the chancellor has looked through his fingers as he turned the pages: time and again since the financial crisis of 2008, Britain’s…
DEBT stalks Africa once again. Over the past six years sub-Saharan governments have issued $81bn in dollar bonds to investors hungry for yield. Piled on top of this are murkier syndicated loans and bilateral debts, many to China and tied to big construction projects. Public debt has climbed above 50% of GDP in half the…
ON THE campaign trail, Imran Khan, Pakistan’s new prime minister, presented himself as the man to break the country’s addiction to hand-outs from the West. Whereas previous governments used to go begging to the IMF for funds, he said, his Pakistan Movement for Justice (PTI) would focus instead on recouping billions of dollars hidden from…
WANG JIANQIN, in a thick red jerkin worn over her working clothes, does not look like an agent of superpower reprisal. The 60-year-old farmer rears 4,000 pigs in a brick-walled compound in Shunyi district, some 45km from Beijing. About a fifth of the food that she uses to fatten them up is soyabean meal, something…
Guillaume Payen/SOPA Images/LightRocket via Getty Images In recent weeks, both Uber and Airbnb have sent formal letters to the Securities and Exchange Commission, asking the regulatory agency to expand efforts that would allow drivers and hosts to also be paid in company shares. Exactly how this would work in practice remains unclear. The move comes…
(Reuters) - Toyota Motor Corp (7203.T) will invest $500 million in Uber Technologies Inc to jointly work on developing self-driving cars, the companies said on Monday, a bid by both to catch up to rivals in the hotly competitive autonomous driving business. Toyota, one of the world’s largest carmakers, and Uber [UBER.UL], the leading ride-hailing…
