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☆ Haiti declares state of emergency after armed gangs storm two of the country's largest prisons
▼ + stars: | 2024-03-04 | by ( Sam Meredith | Www.Linkedin.Com In Samuelmeredith | ) www.cnbc.com time to read: +1 min

This screen grab taken from AFPTV shows tires on fire near the main prison of Port-au-Prince, Haiti, on March 3, 2024, after a breakout by several thousand inmates. A 72-hour state of emergency has been declared in Haiti after armed gangs stormed two of the country's largest prisons, reportedly allowing thousands of people to escape. A government statement said two prisons, one in the capital of Port-au-Prince and another in nearby Croix des Bouquets, were overrun by gang members over the weekend, according to multiple media reports. Nearly all the 4,000 inmates at Haiti's National Penitentiary in Port-au-Prince were thought to have escaped. Haitian lawyer Arnel Remy, head of the Collective of Lawyers for the Defense of Human Rights in Haiti, said in a Google-translated update on the X social media platform that a total of 3,597 prisoners escaped from the National Penitentiary.

Persons: Patrick Boisvert, Al, Ariel Henry, Arnel Remy Organizations: CNBC, Finance, Lawyers, Defense of Human Rights, National Penitentiary Locations: Port, Prince, Haiti, Croix des, Haiti's, Al Jazeera, Boisvert, Haitian, Kenya

☆ Ukraine needs the West to do more than seize Russian assets, Janet Yellen says
▼ + stars: | 2024-03-04 | by ( George Glover | ) www.businessinsider.com time to read: +2 min

Seizing Russian assets won't make up for the failure to send aid to Ukraine, Janet Yellen warned. Republicans have blocked a plan to send aid to Ukraine in a bid to force Joe Biden to take action on immigration. AdvertisementUkraine needs the West to do much more than just seize frozen Russian assets, according to Janet Yellen. AdvertisementG7 finance ministers met in Brazil last week to discuss what to do with frozen Russian assets worth about $300 billion. "I want to be very clear: we currently have no legal basis for the seizure of Russian assets," he said on the sidelines of the Brazil summit.

Persons: Janet Yellen, Joe Biden, —, São, Yellen, Bruno Le Maire, Biden Organizations: Republicans, Service, São Paulo, Kyiv, Bloomberg, European Union, US Locations: Ukraine, Japan, Brazil, Italy, Mexico

☆ CNBC Daily Open: U.S. manufacturing struggles to recover
▼ + stars: | 2024-03-04 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

Workers assemble printed circuit boards at the Intervala manufacturing facility in Mount Pleasant, Pennsylvania, US, on Tuesday, Jan. 30, 2024. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The CSI 300 was lower as investors focused on China's annual meetings and Hong Kong's Hang Seng index also fell. "Those names are being driven by earnings," Niles told CNBC last week.

Persons: Hong, Dow, Energy's, Jorge Leon, Jeremy Hunt, Dan Niles, Niles Organizations: US, Bureau, CNBC, Nikkei, CSI, Nasdaq, Budget, Conservative, Labour, Nvidia, Meta, Microsoft Locations: Mount Pleasant , Pennsylvania, U.S, China, Beijing, Angola

☆ 'Last chance saloon': UK finance minister expected to pledge pre-election tax cuts
▼ + stars: | 2024-03-04 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

British Finance Minister Jeremy Hunt said earlier this month the U.K. would not enter a recession this year. LONDON — Economists expect U.K. Finance Minister Jeremy Hunt to use a small fiscal windfall to deliver a modest package of tax cuts at his Spring Budget on Wednesday. However, the big questions over tax cuts remain heading into Wednesday's statement. Raja suggested the finance minister will err on the side of caution in loosening fiscal policy, favoring supply side support over boosting demand. "Therefore, tax cuts to national insurance contributions (NICs) and changes to child benefits are more likely to come in the Spring Budget (in contrast to earlier expectations of income tax cuts)."

Persons: Jeremy Hunt, Hunt, Sanjay Raja, Raja Organizations: British, LONDON, Finance, Budget, Conservative, Labour Party, Treasury, Independent, Deutsche Bank, Bank of England

☆ Divisions Among Finance Ministers Flare Over Seizing Russian Assets
▼ + stars: | 2024-02-28 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

Divisions among the world’s top economic officials over how to use Russia’s central bank assets to support Ukraine spilled into public view on Wednesday when Bruno LeMaire, France’s finance minister, said that seizing the frozen assets would be a violation of international law. The comments, made on the sidelines of the gathering of finance ministers of the Group of 20 nations in Brazil, came a day after Treasury Secretary Janet L. Yellen said that seizing the assets was a possibility and suggested that there was a legal justification for doing so. Officials from the Group 7 advanced economies have been debating for months over whether they could legally seize more than $300 billion in Russian central bank assets stashed in Western nations and use those funds to aid Ukraine. Those discussions have taken on greater urgency amid waning political support in the United States and Europe to continue to provide Ukraine with economic and military support. Ms. Yellen, who initially had reservations about the viability of freezing or seizing Russia’s assets, offered her most explicit public support to date on Tuesday for the idea of unlocking “the value” of Russia’s immobilized assets.

Persons: Bruno LeMaire, Janet L, Yellen Locations: Ukraine, Brazil, Russian, United States, Europe

☆ 2024 is already straining the seams of China and Russia's 'no limits' partnership
▼ + stars: | 2024-02-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

AdvertisementRussia's finance ministry has been discussing yuan loans with its China counterparts — but a delayed decision suggests the two countries' "no limits" partnership may be under strain. Russian Finance Minister Anton Siluanov told RIA state news agency in an interview published on Monday that Russia is discussing the issue with Chinese authorities. Russia's finance ministry did not immediately respond to a request for comment from Business Insider. However, two years after Russia started its ongoing war in Ukraine, Russia and China appear to be continuing to conduct business as usual. Three of China's Big Four state banks have halted payments from sanctioned Russian financial institutions, Russia's Izvestia news outlet reported on February 21.

Persons: Anton Siluanov, Siluanov, Vladimir Putin, Dong Jinyue, SCMP Organizations: China, Russian, Business, Beijing, Street, China Morning Post, BBVA Research, Russia Locations: Russia, China, Moscow, Ukraine, Madrid, Russian

☆ Yellen Urges Israel to Restore Economic Ties to West Bank
▼ + stars: | 2024-02-27 | by ( Alan Rappeport | ) www.nytimes.com time to read: +1 min

Treasury Secretary Janet L. Yellen said on Tuesday that she had personally urged Prime Minister Benjamin Netanyahu of Israel to increase commercial engagement with the West Bank, contending that doing so was important for the economic welfare of both Israelis and Palestinians. Ms. Yellen’s plea was outlined in a letter that she sent to Mr. Netanyahu on Sunday. It represented her most explicit public expression of concern about the economic consequences of the war between Israel and Hamas. In the letter, Ms. Yellen said, she warned about the consequences of the erosion of basic services in the West Bank and called for Israel to reinstate work permits for Palestinians and reduce barriers to commerce within the West Bank. “These actions are vital for the economic well-being of Palestinians and Israelis alike,” Ms. Yellen said at a news conference in Brazil ahead of a gathering of finance ministers from the Group of 20 nations.

Persons: Janet L, Yellen, Benjamin Netanyahu, Israel, Yellen’s, Netanyahu, Ms Organizations: West Bank, Palestinian Authority, United Locations: Israel, Brazil, Gaza, Qatar, United State, Egypt

☆ Why India’s economy under Modi offers a real alternative to China
▼ + stars: | 2024-02-26 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.

Persons: Peeyush Mittal, there’s, ”, Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, “, MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, ”, Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore

☆ Blinken Says New Israeli Settlements in West Bank Are Illegal, Reversing a Trump Policy
▼ + stars: | 2024-02-23 | by ( Edward Wong | ) www.nytimes.com time to read: +1 min

Secretary of State Antony J. Blinken said on Friday that the American government now considers new Israeli settlements in Palestinian territories to be “inconsistent with international law,” reversing a policy set under the Trump administration and returning to a decades-long U.S. position. Mr. Blinken spoke at a news conference in Buenos Aires, after Israel’s finance minister, Bezalel Smotrich, made an announcement on Thursday indicating thousands of new residences would be added to settlements. “It’s been longstanding U.S. policy under Republican and Democratic administrations alike that new settlements are counterproductive to reaching enduring peace,” he said. And in our judgment, this only weakens — it doesn’t strengthen — Israel’s security.”Mr. Blinken was in Argentina for meetings with the recently elected president, Javier Milei, and the foreign minister, Diana Mondino. State Department officials declined to say what actions, if any, the United States might take to hold Israeli settlers or the government legally accountable for the building of new settlements.

Persons: Antony J, Blinken, Trump, Bezalel Smotrich, ”, “ It’s, “, Mr, Javier Milei, Diana Mondino, John F, Kirby Organizations: Republican, Democratic, State Locations: Buenos Aires, U.S, Argentina, Washington, United States

☆ France Will Cut Spending as It Sees a Weaker Economy Ahead
▼ + stars: | 2024-02-23 | by ( Liz Alderman | ) www.nytimes.com time to read: +1 min

The finance minister, Bruno Le Maire, on Monday revised the forecast for economic growth this year to 1 percent, down from 1.4 percent at the end of last year. “Lower growth means lower tax receipts, so the government must spend less,” Mr. Le Maire said at a news briefing. After spending lavishly during the pandemic to support the economy and shield consumers from high energy prices, France is now at risk of breaching European Union budget rules that restrict government borrowing. To avoid that, the government must cut costs to lower the deficit to 4.4 percent of gross domestic product this year, from 4.8 percent

Persons: Bruno Le Maire, Mr, Le Maire Organizations: European Union Locations: France, Ukraine, Gaza, Germany, China

CNN —US Secretary of State Antony Blinken on Friday declared that any expansion of Israeli settlements in the West Bank would be inconsistent with international law - reversing a Trump era position that broke with longstanding US policy. “They’re also inconsistent with international law. The Trump administration had reversed US policy to declare that settlements did not violate international law. The top US diplomat said he was “disappointed” by reports that Israel would expand the settlements in the occupied West Bank. “It’s been a longstanding US policy, under both Republican and Democratic administrations, that new settlements are counterproductive to the cause of peace– frankly, they’re also inconsistent with international law, and this administration maintains this firm opposition to settlement expansion,” he said.

Persons: Antony Blinken, “ It’s, ” Blinken, “ They’re, Trump, Mike Pompeo, ” Israel’s, Bezalel Smotrich, Blinken, ”, John Kirby, they’re Organizations: CNN, West Bank, Republican, Democratic, Trump, White, National Security Locations: Buenos Aires, Israel

☆ UK posts record budget surplus in January
▼ + stars: | 2024-02-21 | by ( Elliot Smith | ) www.cnbc.com time to read: +2 min

Jeremy Hunt, UK chancellor of the exchequer, holding the despatch box as he stands with treasury colleagues outside 11 Downing Street in London, UK.. Bloomberg | Bloomberg | Getty ImagesLONDON — The U.K. logged a record £16.7 billion ($21.1 billion) net budget surplus in January, according to official figures released on Wednesday. The Office for National Statistics noted that the country's public finances usually run a surplus in January, unlike during other months, as receipts from self-assessed annual income tax payments come in. Combined self-assessed income and capital gains tax receipts totaled £33 billion in January, the ONS said, down £1.8 billion from the same period of last year. Total government tax receipts came in at a record £90.8 billion, up £2.9 billion compared to January 2023. The figures on Wednesday mark the final set of public finances data before Finance Minister Jeremy Hunt delivers his Spring Budget, which outlines the government's fiscal policy for the year, on March 6.

Persons: Jeremy Hunt, Laura Trott, Hunt Organizations: Bloomberg, Getty, National Statistics, Finance, Labour Party Locations: London, Covid, Ukraine

☆ Russia's war in Ukraine is igniting an old debate in Brussels over debt
▼ + stars: | 2024-02-19 | by ( Silvia Amaro | ) www.cnbc.com time to read: +3 min

Munich, GERMANY — Should we borrow from global markets as one combined entity and raise new debt together? That's the question hanging on the shoulders of EU officials as they promise to spend more on defense amid Russia's onslaught in Ukraine. However, in 2020, the 27 members of the European Union decided that the best way to deal with the financial and extraordinary impact of the Covid-19 pandemic was to jointly raise debt. Estonian Prime Minister Kaja Kallas said in an interview with Bloomberg that joint bonds would be a good way to boost the bloc's defense capacities. Dutch Prime Minister Mark Rutte was also very clear he would not support joint debt at the EU level.

Persons: Emmanuel Macron, Volodymyr Zelenskyy, Olaf Scholz, GERMANY —, Alexander de Croo, Kaja Kallas, Christian Lindner, Lindner, Mark Rutte Organizations: European Union, CNBC, Munich Security Conference, Estonian, Bloomberg, Munich Security, Dutch, EU, MSC Locations: Paris, France, Munich, GERMANY, Ukraine, Belgium, Brussels, Russia

☆ Singapore pledges to support households and companies as costs rise; budget deficit widens in 2023
▼ + stars: | 2024-02-16 | by ( Lim Hui Jie | ) www.cnbc.com time to read: +1 min

SINGAPORE — Singapore's budget deficit widened more than expected in 2023 but the country expects a small surplus in the 2024 financial year, Deputy Prime Minister and Finance Minister Lawrence Wong said in his budget speech on Friday. The budget deficit for 2023 was revised to $2.67 billion (3.6 billion Singapore dollars), representing about 0.5% of its gross domestic product, Wong told parliament. Wong said a small surplus of SG$800 million is expected for the 2024 financial year, which runs from April 1, 2024 to March 31, 2025. In his budget speech, Wong announced that the city-state will increase support for households and companies in as the country continues to grapple with higher prices. The total bill for these added household measures will come up to an additional $1.41 billion, or 1.9 billion Singapore dollars.

Persons: Lawrence Wong, Wong, Singapore's Organizations: Finance Locations: SINGAPORE

As Prabowo Subianto looks set to succeed Joko Widodo as President, economic growth remains resilient and inflation has stayed low over the past year. But external risks, including Russia's war on Ukraine, continue to cloud the horizon. The World Bank warned in January that global growth will slow for the third consecutive year, to 2.4% in 2024, when the global economy may record the slowest half-decade of GDP growth in 30 years. The government remains hopeful of hitting its 5.2% target in 2024, said Coordinating Minister for Economic Affairs Airlangga Hartarto in early February, acknowledging the risks posed by global economic turmoil, such as the Ukraine-Russia conflict. Regional leadershipTo reach developed country status, a nation typically requires sustained annual economic growth of 7% for 15 consecutive years.

Persons: Prabowo, Joko Widodo, Krisna Gupta, Widodo, Economic Affairs Airlangga Hartarto, Sri Mulyani, Radityo Dharmaputra, Indonesia's Organizations: World Bank, State of, Global, Center, Indonesian, Center for Indonesian, Studies, Bank, Economic Affairs, for Economic Co, OECD, Universitas Airlangga, Ukraine, Insider Studios, Foreign, Commonwealth & Development Office Locations: Indonesia, Ukraine, State, Russia, Jakarta, Southeast Asia, Crimea, Subianto

☆ UK economy slipped into technical recession at the end of 2023
▼ + stars: | 2024-02-15 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

LONDON — The U.K. economy slipped into a technical recession in the final quarter of last year, initial figures showed Thursday. Though there is no official definition of a recession, two straight quarters of negative growth is widely considered a technical recession. Across the whole of 2023, the British GDP is estimated to have increased by just 0.1%, compared to 2022. "These factors affected the performance of the services and construction sectors, which are the main drivers of the U.K. "Over the coming months, we expect inflation to fall, potentially easing the pressure on U.K. households, and supporting the recovery of the consumer-driven economy," Brookes added.

Persons: Jeremy Hunt, Marcus Brookes, Brookes, Neil Birrell Organizations: National Statistics, Reuters, Finance, Bank of England, Bank of England's, Quilter Investors, Premier Miton Investors Locations: British

☆ UK inflation holds steady at 4%, lower than expected
▼ + stars: | 2024-02-14 | by ( Elliot Smith | ) www.cnbc.com time to read: +3 min

Karl Hendon | Moment | Getty ImagesLONDON — U.K. inflation held steady at 4% year-on-year in January on the back of easing prices for furniture and household goods, food and non-alcoholic beverages. Economists polled by Reuters had produced a consensus forecast of 4.2% year-on-year for January and -0.3% for the month. The CPI goods annual rate slowed from 1.9% to 1.8%, but price pressures in the services industry remained hot, with the CPI services annual rate rising from 6.4% to 6.5%. The U.K. has lagged its peers in bringing down inflation, but the headline CPI has been on a general downward trajectory since the October 2022 peak of 11.1% year-on-year. The labor market and wage growth have meanwhile eased but will remain uncomfortably robust for a central bank aiming to drag inflation back to its 2% target.

Persons: Karl Hendon, Jeremy Hunt, Marion Amiot Organizations: London, Euromonitor International, Karl, Reuters, National Statistics, Bank of England, Finance

☆ Egypt on edge as Israel’s war presses more than a million Palestinians up against its border
▼ + stars: | 2024-02-13 | by ( Nadeen Ebrahim | ) edition.cnn.com time to read: +11 min

The fortification by the border with Gaza is a “precautionary” measure ahead of an expected Israeli ground operation in Rafah, Egyptian security officials told CNN. Now, Egypt is sounding alarms again as Israel pushes more than a million Palestinians toward its territory and prepares for a military operation in Rafah. The treaty also limited the number of troops stationed on the border between Egypt and Gaza, which at the time was controlled by Israel. A satellite image from Maxar Technologies shows Rafah, Gaza, on February 3. After Israel withdrew from Gaza in 2005, it agreed with Egypt on a mechanism to secure the area with only Egyptian border patrol forces on the Egyptian side of the border.

Persons: Israel’s, Gazans, Kerem, Karm, Said Khatib, Bezalel Smotrich, “, Emad Gad, ”, Winter, Abdel Fattah el, Sisi, Abed Zagout, Itamar Ben Gvir, Smotrich, Benjamin Netanyahu, Ahmed Abu Zeid, ” Abu Zeid, Ibraheem Abu Mustafa, Israel, it’s, Gad, ” Gad Organizations: CNN, Getty, Twitter, Israel, Associated Press, The New York Times, Ahram, Maxar Technologies, Maxar, Ahram Center for Political, Strategic Studies, Institute for National Security Studies, Department of, Islamic, Tel Aviv University, National, Finance, Foreign, Foreign Ministry, Alghad, Reuters, Egyptian, demilitarize, Al, News, Ahram Center Locations: Egypt, Gaza, Rafah, North Sinai, Israel, Karm Abu Salem, AFP, Cairo, Western, United States, Washington, Tel Aviv, Anadolu, Sinai, Israeli, Al

It is the first time Moody’s has lowered Israel’s credit rating, which is used by investors to measure the riskiness of investing in a global entity or government. Moody’s downgraded Israel from A1 to A2 and said the outlook for the country’s economy was “negative.” The A2 rating nonetheless continues to carry relatively low risk, according to Moody's. Photos You Should See View All 21 ImagesStill, Israeli officials fear that the Moody’s downgrade could lead other major agencies also to downgrade Israel’s outlook. Israel’s economy bounced back after previous wars with Hamas, but the current war is much longer than any of those. Concerns about Israel’s governance, rising inflation and a worldwide slowdown in tech investments last year also weighed on the economy.

Persons: “, ” Moody’s, Moody’s, Bezalel Smotrich, ”, Benjamin Netanyahu, Michel Strawczynski, it’s, Amir Yaron, Israel –, Western Europe —, Benjamin Netanyahu's, Moody's Organizations: —, Sunday, Finance, Hebrew University, Bank of Israel, Bank of Israel Gov Locations: TEL AVIV, Israel, Gaza, Jerusalem, Western Europe

☆ UN Agency Says Aid Shipment Blocked in Israeli Port
▼ + stars: | 2024-02-11 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +2 min

JERUSALEM (Reuters) - The main United Nations agency providing aid to Palestinians in Gaza is facing growing administrative hurdles from Israel, with a shipment amounting to a month's supply of food blocked in port, the agency's chief said. UNRWA has dismissed staff accused of involvement in the attack and launched an investigation. He said UNRWA had been informed by a contractor that provided handling services in the port of Ashdod that it could no longer continue working with UNRWA, following instructions from the Israeli authorities. Last week, Israeli Finance Minister Bezalel Smotrich announced on social media platform X that Israel was cancelling tax breaks previously offered to UNRWA. The decision was not formally communicated to the agency which only learned about it when the statement appeared on the platform, Lazzarini said.

Persons: Israel, Philippe Lazzarini, Lazzarini, Bezalel Smotrich, James Mackenzie, Steve Scheer Organizations: United Nations, United Nations Relief, Works Agency for Palestinian Refugees, UNRWA, Israel, West Bank Locations: JERUSALEM, Gaza, Israel, East, Ashdod, Turkey, East Jerusalem, Lebanon, Jordan, Syria

When Israel established a checkpoint near the Mousas' land a decade ago, the family converted their ancestral farm into a parking lot for Palestinian workers entering Israel. But the lot has been empty since Oct. 7, when Hamas militants attacked Israel from the Gaza Strip, and Israel, fearing more attacks, barred Palestinian workers from the West Bank from entering Israel. Before October, over 10,000 Palestinian workers crossed the checkpoint there daily, heading to Israeli construction sites and farms. An estimated 200,000 Palestinians worked in Israel and Israeli settlements before the war, according to the Israeli workers' hotline Kav LaOved. The Palestinian economy in the West Bank contracted by over a fifth in the last quarter of 2023, according to the Palestinian economic ministry.

Persons: Mohammed Mousa’s, They've, Israel, “ I've, Mousa, “, Alaa Mousa, Ahmad Srour, ”, Srour, “ We’ve, we’ve, Nidal Khawaja, Khawaja, Israel's, Bezalel Smotrich, Khalid Al, Esseily, Khalidi, Raul Sargo, Mohammed Mousa Organizations: West Bank, —, Palestinian Authority, Bank, World Bank, Palestinian Economic Ministry, Palestinian, Associated Press, Israel, Israel's Finance Ministry, Israeli Builders Association Locations: West Bank, Nilin, Israel, Gaza, Palestinian, U.S, israel

☆ Can Germany’s sputtering economy be revived in 2024?
▼ + stars: | 2024-02-10 | by ( Hanna Ziady | ) edition.cnn.com time to read: +11 min

Europe’s biggest economy shrank last year for the first time since the onset of the Covid-19 pandemic. And the outlook isn’t much brighter: the International Monetary Fund predicts that Germany will be the slowest-growing major economy in 2024, eking out an increase of just 0.5%. “Germany needs a fundamental economic transformation,” Marcel Fratzcher, president of the German Institute for Economic Research in Berlin, told CNN. Carsten Koall/Getty ImagesHomegrown troublesAlongside an external environment that has become more hostile to Germany’s outward-facing economy, the country’s internal political climate has worsened. Businesses such as these, which can find new markets and applications for their know-how, may hold the key to reviving Germany’s moribund economy.

Persons: What’s, ” Marcel Fratzcher, ”, Carsten Brzeski, Jens Schlueter, Constanze Stelzenmuller, Christian Lindner, Olaf Scholz, Robert Habeck, Carsten Koall, Michael Probst, Karl Haeusgen, ” Sebastian Shukla, Chris Stern Organizations: London CNN — Trains, Lufthansa, International Monetary Fund, European Union, European Commission, German Institute for Economic Research, CNN, ING, Brookings Institution, Volkswagen, Biden, Free Democratic Party, Social Democratic Party and, Green Party, Deutsche, LinkedIn, Investors, SAP, chipmaker Infineon, Intel, MAN Energy Solutions, Germany’s Machinery, Equipment Manufacturers Association Locations: Europe’s, Germany, Ukraine, Berlin, Europe, China, Zwickau, United States, Russia, “, Japan, masse, Frankfurt, ”, Hamburg, Jungheinrich, Augsburg, Munich, Esbjerg, Denmark

☆ UK PM Sunak Paid More Than 500,000 Pounds in Tax Last Year
▼ + stars: | 2024-02-09 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +2 min

By Andrew MacAskill and Sachin RavikumarLONDON (Reuters) - British Prime Minister Rishi Sunak paid 508,000 pounds ($641,000) in tax in the last financial year after income from his investments dwarfed his official salary, a report by his accountants showed on Friday. The three-page published summary is the second time that Sunak has published details of his tax affairs since he became prime minister in 2022. The figures show that Sunak made 139,000 pounds from his salary as a member of parliament, finance minister and prime minister between April 2022 and March 2023, and 2.1 million pounds from investments. Of his income from investments, 1.8 million pounds came from capital gains, up from 1.6 million pounds a year earlier. About 70% of the total tax paid by Sunak was due to capital gains tax on the profit made from sales of investments such as stocks.

Persons: Andrew MacAskill, Sachin Ravikumar, Rishi Sunak, Sunak, Evelyn, Piers Morgan, David Milliken Organizations: Sachin Ravikumar LONDON, British, Indian IT, Infosys, Evelyn Partners Locations: Indian, Rwanda

JERUSALEM (AP) — Israel has imposed financial restrictions on the main U.N. agency providing aid in the Gaza Strip, a measure which prevented a shipment of food for 1.1 million Palestinians from reaching the war-battered enclave, the agency's director said Friday. The U.N. food agency defines a famine as when 30% of children are malnourished, one-fifth of households face acute food shortages and two of every 10,000 people are dying from hunger or malnutrition. UNRWA, which serves about 6 million Palestinians whose families were displaced during the war surrounding Israel's creation in 1948, denies the charges. UNWRA is the main provider of aid to Palestinians in Gaza, but Israeli bombardment and combat between Israel and Hamas has made much of the territory too dangerous for aid convoys to cross. Israel alleged last month that 12 employees of the aid agency participated in the Oct. 7 Hamas attacks in southern Israel.

Persons: — Israel, Philippe Lazzarini, Israel, Juliette Touma, Touma, Bezalel Smotrich, ”, Benjamin Netanyahu, didn't, Lazzarini, “ Organizations: JERUSALEM, UNRWA, Food, Israel, Bank Leumi, Hamas, Food Program Locations: Gaza, Israel, U.S, Turkey, Ashdod, Port Said, Egypt, Rafah

☆ Yen near 10-week low, dollar buoyant as traders adjust rate bets
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +3 min

The yen wallowed near a 10-week low on Friday, while the dollar ground towards a fourth weekly advance as traders dialed back bets on how quickly the Bank of Japan, or BOJ, will raise interest rates and how soon the Federal Reserve will cut them. The yen wallowed near a 10-week low on Friday, while the dollar ground towards a fourth weekly advance as traders dialed back bets on how quickly the Bank of Japan, or BOJ, will raise interest rates and how soon the Federal Reserve will cut them. The yen was little changed at 149.315 per dollar in early Asian trading, after dipping to 149.48 late in the previous session for the first time since Nov. 27. Both currencies have been relatively resilient with officials from the European Central Bank and Bank of England pushing back against market wagers on early rate reductions. New Zealand's dollar gained 0.34% to $0.6117, supported by bets for a delayed start to Reserve Bank rate cuts - or even the potential for further hikes - after data this week showed a stronger-than-forecast jobs market.

Persons: Shinichi Uchida, Shunichi Suzuki, Jerome Powell, FOMC, Richard Franulovich, Sharon Zollner, bitcoin Organizations: Bank of Japan, Federal Reserve, BOJ, Japanese Finance, Traders, European Central Bank and Bank of England, Reserve, ANZ Locations: Tokyo

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