Browsing: Economy

Economy
National debt: critics cry hypocrisy as Republicans oppose Biden spending
The response was as uniform as it was predictable.When Joe Biden unveiled an audacious $1.9tn coronavirus relief package, Senator Rick Scott of Florida warned: “I think one thing the Biden administration really has to focus on is the risk of what all this debt is going to do to us.”When the president followed up with $2tn for infrastructure, Mitch ...
Economy
With Economy Poised for Best Growth Since 1983, Inflation Lurks
Ronald Reagan was in the White House, “Return of the Jedi” was in theaters, and economic growth hit an astonishing 7.9%. The U.S. has produced many more Star Wars films since 1983, but growth has never approached that level—until this year, if economists are right. Those surveyed by The Wall Street Journal boosted their average f...
Economy
The Dollar May be at an Inflection Point
Euro The outside up day on April 5, which seemed to complete a small head and shoulders pattern with the close above $1.18. It set the technical tone for the rest of the week, and the euro met the minimum objective of a bit more than $1.19. However, disappointing European industrial production figures and a jump in US rates (before the US PPI jump ...
Economy
Powell Sees Pickup in Economic Growth Ahead
Federal Reserve Chairman Jerome Powell said the U.S. economy appears to be at an inflection point, with output and job growth poised to accelerate in the months ahead as long as the Covid-19 pandemic retreats. “We feel like we’re at a place where the economy’s about to start growing ...
Economy
Biden’s plans for a global corporate tax rate could make the world a fairer place
More than a decade has passed without any progress in bringing the global tax system into the modern age. But less than three months after taking office, President Joe Biden has raised hopes of a breakthrough, with proposals that could kill tax havens dead and force multinationals to pay a fairer share of tax.The change in tone could not be more ma...
Economy
Britain is ‘bouncing back’ into the same old economy
In some government circles, the excitement before Britain’s opening-up and return to something like normality is making ministers giddy.Grant Shapps says everyone may start booking a foreign holiday now that he is at work revamping last year’s colour-coded map of the world. With a traffic-light system of testing and quarantine rules in place, it is...
Economy
Sunak urged to back corporate tax plan ‘worth £13.5bn a year’
Rishi Sunak has been urged to throw his full weight behind US proposals for a global minimum corporate tax rate after analysis showed it would bring in an extra £13.5bn a year for the public purse.The campaign group Tax Justice UK said the Biden administration plan would help raise billions of pounds a year for the UK exchequer by hitting multinati...
Economy
How would a global minimum tax work and why is it needed?
Why is a global minimum tax required?Tax systems around the world have been increasingly left behind in recent years by the rise of globalisation and digital media companies such as Google, Amazon, Apple and Facebook. They are firms operating across international borders that can shift profits around to exploit the most attractive low-tax locations...
Economy
Dollar steadies after week of falls
U.S. one hundred dollar notes are seen in this picture illustration taken in Seoul February 7, 2011. REUTERS/Lee Jae-WonThe dollar recovered slightly on Friday but was still heading for its softest week of the year after surprisingly weak U.S. jobs figures the previous day and ongoing loose Federal Reserve policy prompted investors to trim their ...
Economy
The economy is on the cusp of a major boom and economists believe it could last
People crowd outdoor dining at a restaurant as coronavirus disease (COVID-19) restrictions are eased in Ann Arbor, Michigan, U.S., April 4, 2021.Emily Elconin | ReutersThe economy has entered a period of supercharged growth, and instead of fizzling, it could potentially remain stronger than it was during the pre-pandemic era into 2023.Economists no...
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