IMF Sees Ad Hoc Taxes On Excess Profits As 'Problematic'
The International Monetary Fund backs moves by governments to tax companies' excess profits, but believes such changes must be clearly communicated and cannot apply to already realized profits, the IMF's top fiscal expert told Reuters.
Druzhba Pipeline Leak Reduces Russian Oil Flows To Germany
Germany said on Wednesday it was receiving less oil but still had adequate supplies, after Poland found a leak in the Druzhba pipeline that delivers crude from Russia to Europe that Warsaw said was probably caused by an accident rather than sabotage.
Israel Fast-tracks Lebanese Maritime Deal But Lawmaker Review Looms
Top Israeli ministers on Wednesday endorsed a U.S.-brokered deal to delineate a maritime border with Lebanon, paving the way for a potentially fractious two-week parliamentary review before it goes into force.
Legal Challenges Could Hamper U.S. Rule To Limit Independent Contracting
Business groups will almost certainly file lawsuits in an attempt to delay or derail a rule proposed by the Biden administration on Tuesday that would limit companies' use of independent contractors, experts said.
France Starts Forced Return To Work At Fuel Depot In Showdown With Union
The French government on Wednesday started ordering some staff at an Exxon Mobil fuel depot back to work, battling to secure petrol supplies following weeks-long strikes but risking a wider conflict with trade unions.
Against War And Other Shocks, Pandemic Fades From World Economic Agenda
The dozens of items on the public agenda of the annual meetings of the World Bank and International Monetary Fund this week include several sessions on climate change, food security, and other chronic world problems, some on inflation and trade, and attention as well to economic inclusion and digital currencies.
Economic Worries Loom Over U.S. Airline Earnings
U.S. carriers including American Airlines Group Inc and United Airlines Holdings Inc are enjoying the strongest consumer demand in three years, but analysts and investors question how soon the good times might end as the growing risk of economic recession sparks worries about travel spending.
Polish Oil Pipe Hit By Leak As EU Ministers Tackle Energy Crisis
A leak on a pipeline carrying oil from Russia to Europe added to concerns about energy security on Wednesday, while European Union ministers worked on proposals to address the fuel crisis facing the continent heading into winter.
Saudi Wealth Fund Braves Market Tumult In Green Bonds Debut, Others Unlikely To Rush
Saudi Arabia's Public Investment Fund faced little scrutiny over its green credentials when it sold $3 billion in green bonds last week in its maiden debt issue, according to people familiar with the transaction.
Philips Shares Slump On Profit Warning And Sleep Apnea Device Writedown
Philips shares fell to their lowest in a decade on Wednesday as the Dutch health tech company said supply chain problems would hit sales, and wrote down 1.3 billion euros ($1.26 billion) of the value of its sleep apnea business.
Japan Keeps Up Verbal Warnings Against Yen Sell-off To Halt Slide
Japan's policymakers continued to warn investors on Wednesday against selling the yen, as the dollar rose to a fresh 24-year high on the Japanese currency while hurdles to directly intervene remain high.
UK Economy On Brink Of Recession As It Shrinks In August
Britain's economy looks set to go into recession as data showed it unexpectedly shrank in August, underscoring the challenge for Prime Minister Liz Truss to make good on her promises to speed up growth.
Not 'Lying Flat': China To Persist With Tough COVID Policies
China will persist with its COVID-19 policies to guard against new coronavirus strains and the risks they bring, the official newspaper of the Communist Party warned in a commentary for the third straight day, crushing hopes of any near-term easing.
Explainer-What Makes A Nuclear Weapon 'Tactical'?
From the war in Ukraine to North Korea's recent missile testing spree, tactical nuclear weapons are being debated and developed in a way not seen since the Cold War.
NATO Allies, Partners Aim To Boost Kyiv's Air Defence After Russian Air Raids
More than 50 countries will gather on the sidelines of a NATO meeting in Brussels on Wednesday to discuss bolstering Ukraine's air defence, two days after Russian missiles rained down on cities across the country, including the capital Kyiv.
U.S. Scrambles To Prevent Export Curbs On China Chips From Disrupting Supply Chain
The U.S. is scrambling to tackle unintended consequences of its new export curbs on China's chip industry that could inadvertently harm the semiconductor supply chain, people familiar with the matter said.
Singapore GDP Growth To Ease In Q3, Keeps MAS In Delicate Balancing Act: Reuters Poll
Singapore's economy is expected to have expanded at a slower pace in the third quarter, underlining the central bank's challenge as it balances the urgency of tackling inflation without triggering a steep recession by over-tightening policy.
Uniqlo Owner Set For Record Annual Profit, But All Eyes On China Showing
Japan's Fast Retailing Co, owner of clothing brand Uniqlo, is expected to post a record annual profit on Thursday as the yen's slump has boosted the value of its overseas sales even as soaring living costs dampen prospects for retailers.
EU Countries Seek Way Out Of Impasse Over Gas Price Caps
The question of how, when and whether to cap gas prices is set to dominate another meeting of European Union countries on Wednesday, as they pursue a joint plan to target high gas prices - a compromise that has eluded them for weeks.
Thai Nursery Massacre Unfolded Over Three Hours Of Horror
In the days before he murdered 36 people, including 22 children stabbed as they slept, the former police sergeant behind Thailand's worst massacre was firing guns in his back yard.
Asian Stocks Stall, Dollar Wallops Pound And Yen
Asian stocks wallowed at two-year lows on Wednesday, after a strengthening dollar, instability in the U.K.
Japan's Machinery Orders Post Biggest Fall In 6 Months In Blow To Corp Spending
Japan's machinery orders posted their biggest single-month fall in six months in August as pressure from a global economic slowdown and a weaker yen that pushes up import costs darken the outlook for corporate spending.
S.Korea Delivers Another Big Hike As Fed Rates Sink Local Currency
South Korea's central bank raised interest rates by a half percentage point and flagged more policy tightening as authorities scrambled to hose down red-hot inflation, caused in large part by a surging dollar and higher import prices.
Dollar At 24-year Peak To Yen As U.S. Yields Jump; Sterling On The Ropes
The dollar rose to a fresh 24-year high against the yen on Wednesday, moving above levels that prompted intervention by Japanese officials last month, as traders braced for U.S.
Oil Prices Extend Decline On Recession Fears, China COVID Curbs
Oil prices fell for a third straight session on Wednesday as investors fretted about a hit to fuel demand from growing risks of a global recession and tightening COVID-19 curbs in China.
Analysis-Fearing War In Xi's Next Term, Taiwan Bolsters Defences
Taiwan is bolstering its defences and steeling itself for the possibility of war with China as leader Xi Jinping readies to assume a third term in power and tries to achieve what no predecessor has done by taking control of the island.
Japan Manufacturers' Mood Sours, Higher Costs Dim Outlook - Reuters Tankan
Business confidence among big Japanese manufacturers fell for a second straight month to hit its lowest level in five months, a Reuters monthly poll showed on Wednesday, in another sign global inflation and a weak yen are taking a toll on the world's No.3 economy.
US, UK Economists Back Russian Oil Price Cap In Letter To Yellen
A price cap on Russian seaborne oil deliveries being developed by the United States and G7 countries could significantly reduce Russia's revenues while encouraging Moscow to continue to produce oil, 16 economists from top U.S.
'Murder, She Wrote' Actress Angela Lansbury Dead At Age 96
Angela Lansbury, the British-born actress whose career spanned eight decades and produced indelible portraits of a wide range of characters from villainesses to sleuths and light comic roles in movies, on stage and on television, died at age 96, her family said on Tuesday.
World Bank Defends Climate Record In Meeting With NGOs
World Bank President David Malpass defended the institution's commitment to tackling climate change on Tuesday, telling civil society groups that have criticized his leadership on the issue that the bank is focused on global warming.