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☆ After U-turn, Britain's economy still paying for Truss's growth plan
▼ + stars: | 2022-10-17 | by ( ) www.reuters.com time to read: +4 min

With the economy still paying a price for the now-shelved plan, we take a look at some of the main pain points in markets. While those have come down significantly, Britain's 10-year yield remain 45 basis points above levels before Sept. 23 and 30-year yields are some 55 bps higher . This highlights that even with the U-turn in Truss's economic policy, investors still demand a higher premium for holding British government debt. 4/ MORTGAGE FIXBritain's mortgage market was plunged into chaos by the growth plan, as the money markets that lenders rely on to price home loans bet on higher interest rates. Reuters Graphics5/ SUNKEN STOCKSUK blue-chip stocks are still 3% below where they were traded prior to Truss's plan.

☆ Argentina to give workers income tax relief from November
▼ + stars: | 2022-10-16 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, Oct 16 (Reuters) - Argentina's Economy Minister Sergio Massa said on Sunday the government will give workers tax relief from November by raising the threshold at which income tax is charged, as the country battles with soaring inflation. "It will take effect from Nov. 1, it will be above 330,000 pesos ($2,176)," Massa said in an interview with Radio Rivadavia, referring to monthly income. The move should help alleviate the burden faced by workers, he added. "We've been working with companies of mass consumption," said Massa, saying the plan was to implement a broader and longer price program than the current one. ($1 = 151.6700 Argentine pesos)Register now for FREE unlimited access to Reuters.com RegisterReporting by Lucila Segal, editing by Deepa Babington and Chizu NomiyamaOur Standards: The Thomson Reuters Trust Principles.

Data from Bloomberg Economics shows that El Salvador tops its ranking of emerging market countries that are vulnerable to a debt default. Another survey by the institute found that 76 out of 100 small and medium-size enterprises in El Salvador do not accept bitcoin payments. But in 2022, recent data shows that only 1.6% of remittances were sent to El Salvador via digital wallets. Meanwhile, its other national currency, bitcoin, is revered for the fact that it, too, is impossible to mint out of thin air. "Bitcoin doesn't solve any of El Salvador's important economic problems," he added.

☆ China to defer fee payments for small firms- state media
▼ + stars: | 2022-09-27 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe skyline of the central business district is seen in the morning in Beijing, China August 21, 2019. REUTERS/StringerBEIJING, Sept 27 (Reuters) - China will postpone fee payments worth more than 53 billion yuan ($7.39 billion) by companies, mainly small firms, in the fourth quarter, state media quoted the cabinet as saying on Tuesday. The delayed payments of 14 administrative fees will help ease difficulties facing companies, especially small firms and self-employed businesses, the cabinet was quoted as saying after a regular meeting. Companies will be allowed to defer payments of some project quality deposits worth 63 billion yuan, the cabinet said. ($1 = 7.1720 Chinese yuan renminbi)Register now for FREE unlimited access to Reuters.com RegisterReporting by Kevin Yao and Beijing newsroom; Editing by Jon Boyle and Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ If you file taxes in these 17 states, you could be getting an inflation-relief check from the government—here's who qualifies
▼ + stars: | 2022-09-21 | by ( Mike Winters | ) www.cnbc.com time to read: +12 min

Single tax filers qualify for funds up to $250, heads of household up to $375 and couples filing jointly up to $500. While most of the rebate checks from earlier this year have been mailed out already, the newer bonus checks are currently being processed. To receive the rebates, residents must file their 2020 and 2021 tax returns by Dec. 31, 2022. Charlie Baker announced that tax rebate checks will be sent to full-year residents who file a 2021 tax return on or before Oct. 17, 2022. No action is needed, as residents receive these payments automatically by direct deposit or check.

☆ Bonus cap scrap would be dubious Brexit dividend
▼ + stars: | 2022-09-15 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

A person points to the City of London financial district from a viewing platform in London, Britain, October 22, 2021. REUTERS/Hannah McKayLONDON, Sept 15 (Reuters Breakingviews) - UK finance minister Kwasi Kwarteng wants to make the City more competitive. That means UK banks and foreign ones operating in London might have to keep their compensation policies broadly the same to retain staff. Bringing the highly charged issue to the fore means Kwarteng might have less cover to push ahead with more meaningful changes, like getting rid of the bank levy. CONTEXT NEWSBritish finance minister Kwasi Kwarteng is seeking to scrap Britain’s cap on bankers’ bonuses, the Financial Times reported on Sept. 14.

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