Exclusive-China plans record budget deficit of 4% of GDP in 2025, say sources
(Reuters) – Chinese leaders agreed last week to raise the budget deficit to 4% of gross domestic product (GDP) next year, its highest on record, while maintaining an economic growth target of around 5%, two sources with knowledge of the…
UK pay rises by more than expected, adding to worries for Bank of England
LONDON (Reuters) – British pay rose by more than expected in the three months to October, official data showed on Tuesday, potentially adding to the Bank of England’s caution about how quickly to cut interest rates. Average weekly earnings, excluding…
Bank of Korea board members see need to respond to slowing economy, minutes show
SEOUL (Reuters) – South Korea’s monetary policy board members said there was a need to respond quickly and preemptively to a slowing economy, as they decided to lower interest rates for a second straight meeting on Nov. 28, according to…
Analysis-Italy’s growth bubble bursts to reveal fragile outlook
By Gavin Jones ROME (Reuters) – Italy’s growth rebound from the COVID-19 pandemic is petering out much faster than expected as structural weaknesses resurface, raising risks for the fragile public finances of the euro zone’s third largest economy. After gross…
Australia’s Qantas to pay $76 million to former employees
(Reuters) -Australia’s Qantas Airways said on Tuesday that it has reached a settlement with the Transport Workers Union (TWU) for compensation of A$120 million ($76.2 million) that it will pay former ground workers who were sacked in 2020. The airline…
Europe’s carmakers discount EVs, hike petrol car prices as new emissions rules loom
By Gilles Guillaume and Alessandro Parodi PARIS/GDANSK (Reuters) – European automakers are raising prices of petrol cars and readying discounts on electric vehicles as they brace for yet another challenge – tougher emissions rules that threaten to further shrink profits…