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☆ New Zealand PM-Elect Says 'Significant Milestone' Reached in Forming Govt
▼ + stars: | 2023-11-19 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

WELLINGTON (Reuters) - New Zealand's Prime Minister elect Christopher Luxon said on Monday that a "significant milestone" had been achieved in forming a government overnight with the National Party, ACT New Zealand and New Zealand First agreeing on policy programmes. National won the largest share of votes in New Zealand's Oct. 14 general election but needs both NZ First and ACT to form a government. Luxon told reporters in Auckland that National had agreed their policy programmes with ACT and NZ First. Website Newshub reported that Luxon said he was very relieved to have finished that part of the coalition talks. Luxon said he did not expect that to take too long, and discussions would focus on these decisions this afternoon.

Persons: Christopher Luxon, Luxon, Newshub, Lucy Craymer, Miral Fahmy Organizations: WELLINGTON, Reuters, Zealand's, National Party, ACT New, New Zealand, National, NZ First, ACT, NZ Locations: ACT New Zealand, New, Auckland

☆ Moody's lifts Italy's debt outlook to stable in boost for Meloni govt
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +2 min

Nov 17 (Reuters) - Moody's on Friday left Italy's sovereign debt rating at Baa3, one notch above junk, but upgraded the outlook to stable from negative, in an unexpected boost for Prime Minister Giorgia Meloni's government. Most analysts had expected the agency to leave both Italy's rating and outlook unchanged. Moody's had put the euro zone's third-largest economy on a negative outlook in August last year following a government collapse and in the midst of an energy crisis. "The decision to change the outlook to stable from negative reflects a stabilisation of prospects for the country's economic strength, the health of its banking sector and the government's debt dynamics," Moody's said. The European Commission forecast on Wednesday that Italy's debt, proportionally the second-highest in the euro zone, would rise marginally from a projected 140% of national output this year to 141% in 2025.

Persons: Giorgia, Moody's, DBRS, Fitch, Giancarlo Giorgetti, Gavin Jones, Keith Weir, Shounak Dasgupta, Rosalba O'Brien Organizations: P, Economy, Analysts, Saikeerthi, Thomson Locations: Italy, Germany, Bengaluru

☆ Biden signs stopgap spending bill to avert govt shutdown- White House
▼ + stars: | 2023-11-17 | by ( ) www.reuters.com time to read: +1 min

U.S. President Joe Biden delivers remarks during the Indo-Pacific Economic Framework (IPEF) Leaders event at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco, California, U.S. November 16, 2023. REUTERS/Brittany Hosea-Small Acquire Licensing RightsSAN FRANCISCO, Nov 16 (Reuters) - U.S. President Joe Biden signed on Thursday a stopgap spending bill to avert a government shutdown, a day after the Senate passed it, the White House said. Biden signed the document on the sidelines of a dinner at the Legion of Honor museum in San Francisco, where leaders are attending the Asia Pacific Economic Cooperation (APEC) summit. U.S. House of Representatives Speaker Mike Johnson had produced the stopgap funding bill that drew broad bipartisan support, a rarity in modern U.S. politics. Reporting by Trevor Hunnicutt and Gokul Pisharody ; Editing by Clarence Fernandez and Kim CoghillOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Brittany Hosea, Biden, Mike Johnson, Trevor Hunnicutt, Clarence Fernandez, Kim Coghill Organizations: Economic, Economic Cooperation, REUTERS, FRANCISCO, Legion, Asia Pacific Economic Cooperation, . House, Thomson Locations: Asia, San Francisco , California, U.S, San Francisco, Washington

[1/3] The company logo of Chinese developer Country Garden is pictured at the Shanghai Country Garden Center in Shanghai, China August 9, 2023. Beijing needs to pull "multiple levers" at the same time to address the "vulnerabilities" in the financial system, local government financing, as well as consumer sentiment, said Edward Al-Hussainy, head of emerging market fixed income research at Columbia Threadneedle, which owns Country Garden bonds. China property sector slumpShoring up confidence is the biggest challenge facing Beijing and is key to getting homebuyers spending again, which analysts says isn't likely to happen soon given an uncertain economic outlook. Reuters reported last week that Chinese authorities have asked domestic financial behemoth Ping An Insurance Group to take a controlling stake in Country Garden. "You need to fix the macro environment first; if you don't earn enough how do you buy a property?," said Xu, whose firm holds China property dollar bonds.

Persons: Aly, Edward Al, isn't, Morgan Stanley, Ping, Ping An, Elliot Hentov, Steven Xu, Xu, Raymond Cheng, Goldman Sachs, Clare Jim, Davide Barbuscia, Karin Strohecker, Summer Zhen, Rae Wee, Sumeet Chatterjee Organizations: Shanghai Country Garden, REUTERS, HONG KONG, Columbia, Reuters, HK, Economic Work Conference, Reuters Graphics, HIT, Insurance Group, State Street Global Advisors, Country, Harmonia, Bloomberg, China, CIBM Securities, Thomson Locations: Shanghai, China, HONG, Beijing, outflows, Hong Kong, New York, London, Singapore

People walk past the new headquarters of the European Bank for Reconstruction and Development (EBRD) in Canary Wharf, London, Britain, September 14, 2023. REUTERS/Alishia Abodunde/File photo Acquire Licensing RightsSummaryCompanies Move follows Hungary govt exit from Erste unitGovt raising financing for airport transactionExit 'good news' for sector's stability -EBRDBUDAPEST, Nov 15 (Reuters) - The European Bank for Reconstruction and Development is selling its 15% stake in Erste Group Bank's (ERST.VI) Hungarian unit back to the Austrian group after the Hungarian government's recent exit from the bank, a top EBRD official told Reuters. Austrian lender Erste said on Friday it was repurchasing a 15% stake in its Hungarian subsidiary, currently held by Hungarian state-owned Corvinus International Investments. Francis Malige, EBRD managing director of financial institutions, said the investment had been designed to help the Hungarian bank recapitalise while supporting a positive relationship with the authorities. "We received a call notice from Erste last Friday and are proceeding with the sale of our stake to the group, based on terms agreed during our 2016 investment."

Persons: Alishia, Viktor Orban, Marton Nagy, Francis Malige, Malige, Orban, Gergely Szakacs, Louise Heavens Organizations: European Bank for Reconstruction, REUTERS, Erste Group, Reuters, Economic, Budapest Airport, Austrian, Erste, International Investments, Erste Bank, Thomson Locations: Canary Wharf, London, Britain, Hungary, Erste, BUDAPEST, Austrian, Hungarian, Erste Bank Hungary

Japanese Finance Minister Shunichi Suzuki arrives for a news conference during the annual meeting of the International Monetary Fund and the World Bank in Marrakech, Morocco, October 13, 2023. REUTERS/Susana Vera/File Photo Acquire Licensing RightsTOKYO, Nov 14 (Reuters) - Japanese Finance Minister Shunichi Suzuki said on Tuesday that the government would take all possible steps necessary to respond to currency moves, repeating his usual mantra that excessive swings were undesirable. Suzuki made the remarks when asked about impacts from the weak yen on households which have been pressured by rising living costs due to higher import prices for fuel and food. "What's important is to maximise positive effects from the weak yen while mitigating negatives," Suzuki told reporters. Japan last intervened in the currency market - selling dollars and buying yen - in October last year.

Persons: Shunichi Suzuki, Susana Vera, Suzuki, Shinichi Uchida, Tetsushi Kajimoto, Kaori Kaneko, Satoshi Sugiyama, Chang, Ran Kim Organizations: International Monetary Fund, World Bank, REUTERS, Rights, Japanese Finance, Bank, Bank of, Thomson Locations: Marrakech, Morocco, Japan, U.S

☆ An Arizona golf course is under attack from a squadron of pig-like creatures
▼ + stars: | 2023-11-07 | by ( Manav Tanneeru | Jack Bantock | ) edition.cnn.com time to read: +6 min

And when the Arizona sunshine breaks over Seven Canyons in the morning, the destruction is revealed. “When you come upon them and see them, it’s like The Tasmanian devil,” Seven Canyons general manager Dave Bisbee told CNN. A javelina at Seven Canyons golf course. Seven Canyons is ringed by the Vermilion Cliffs. “If anything this at least has put us in front of millions of people who didn’t know where Seven Canyons was.

Persons: Dave Bisbee, there’s, ”, fatefully, Emily Casey, emcaseyturf, “, javelina, Bisbee, Casey, Em Casey, @emcaseyturf, we’d, ” Bisbee Organizations: CNN, United, Seven Canyons, Arizona State Department of, Coconino National Forest, Bisbee, Arizona, Fish Department, National Geographic, Wall Street Locations: United States, Arizona, Sedona, South America, Vermilion, Coconino, Bisbee, AZ

OTTAWA, Nov 1 (Reuters) - Spending by federal and provincial governments in Canada will start feeding into inflation next year if current spending plans are maintained, Bank of Canada (BoC) Governor Tiff Macklem said on Wednesday. If governments follow through with spending plans for 2024, it would mean "government spending is starting to get in the way of getting inflation back to target" of 2%, Macklem told members of a Senate committee. If governments spend less, "it would be easier to reduce inflation," Macklem said. The federal government's Fall Economic Statement (FES) could come as early as next week. It looks like there could be more federal spending on the way because Finance Minister Chrystia Freeland has said she will unveil measures in the FES to help Canadians tackle housing and affordability.

Persons: Macklem, Chrystia Freeland, Justin Trudeau, Carolyn Rogers, Rogers, Ismail Shakil, Steve Scherer, David Gregorio Our Organizations: OTTAWA, Bank of Canada, BoC, Thomson Locations: Canada, FES, Ottawa

☆ India opposition accuses govt of trying to hack lawmakers' iPhones
▼ + stars: | 2023-10-31 | by ( ) www.reuters.com time to read: +2 min

Rahul Gandhi, a senior leader of India's main opposition Congress party, gestures as he addresses the media at Congress' headquarters in New Delhi, India, October 9, 2023. REUTERS/Anushree Fadnavis/File Photo Acquire Licensing RightsNEW DELHI Oct 31 (Reuters) - Indian opposition leader Rahul Gandhi on Tuesday accused Prime Minister Narendra Modi's government of trying to hack into senior opposition politicians' mobile phones, after they reported receiving warning messages from Apple (AAPL.O). "Hack us all you want," Gandhi told a news conference in New Delhi, in reference to Modi. In 2021, India was rocked by reports that the government had used Israeli-made Pegasus spyware to snoop on scores of journalists, activists and politicians, including Gandhi. The government has declined to reply to questions whether India or any of its state agencies had purchased Pegasus spyware for surveillance.

Persons: Rahul Gandhi, India's, Anushree, Narendra Modi's, Apple, Gandhi, Modi, Ashwini Vaishnaw, Jairam Ramesh, Shivam Patel, Rupam, John Stonestreet Organizations: Congress, REUTERS, Apple, Information Technology, Pegasus, Thomson Locations: New Delhi, India, DELHI

☆ Goldman Sachs no longer sees U.S. govt shutdown in 2023
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +1 min

The U.S. Capitol Building is seen in Washington, U.S., August 15, 2023. The brokerage's previous base case was for a shutdown for up to 2-3 weeks in the current quarter ended December, which now seems "much less likely", Goldman Sachs economists led by Jan Hatzius said. "The longer the government operates under short-term extensions, the less likely it will be that Congress will reach a deal on full-year spending bills," said Hatzius. "So there is still some risk of a shutdown in early 2024." Reporting by Roshan Abraham in Bengaluru; Editing by Nivedita BhattacharjeeOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Wurm, Goldman Sachs, Jan Hatzius, Mike Johnson, Hatzius, Roshan Abraham, Nivedita Organizations: U.S, Capitol, REUTERS, Thomson Locations: Washington , U.S, Israel, Syria, Bengaluru

☆ Bank of Canada says high rates, slow growth will impact govt spending
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

OTTAWA, Oct 30 (Reuters) - The Bank of Canada on Monday said higher interest rates and low growth will impact the federal government's budget spending and although the country's fiscal position is sustainable, expenditure should be contained to protect social programs. "Lower growth and higher interest rates will certainly impact on the government's budget," Governor Tiff Macklem told lawmakers in the House of Commons. "I don't think fiscal policy in Canada is in a situation where it's unsustainable. The bank said price risks were on the rise and inflation could exceed its 2% target for another two years. The bank increased rates 10 times between March 2022 and this July to tame inflation, which peaked at a four-decade high of 8.1% last year.

Persons: Macklem, Chrystia Freeland, Ismail Shakil, Steve Scherer, Jonathan Oatis, Marguerita Choy Organizations: OTTAWA, Bank of Canada, Finance, Thomson Locations: Canada, FES, Ottawa

☆ Qatar court hands down death penalty verdict for eight Indians - India govt
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +1 min

NEW DELHI, Oct 26 (Reuters) - A Qatar court has announced the death penalty for eight Indians arrested in the country last year, the Indian government said on Thursday, adding it was "deeply shocked" by the verdict. New Delhi said in a statement that it attaches "high importance to this case" and will "take up the verdict with Qatari authorities". Neither the Indian government nor the Qatari authorities have made the charges against the men, who are all former Indian navy officials, public. A spokesperson for India's foreign ministry did not respond to a request seeking comment. Indian foreign ministry officials, including Foreign Minister Subrahmanyam Jaishankar, have earlier said that the exact nature of the charges against the eight Indian men is "not entirely clear".

Persons: Subrahmanyam Jaishankar, Krishn Kaushik, Sharon Singleton Organizations: Reuters, Qatari, Indian, Thomson Locations: DELHI, Qatar, New Delhi

☆ Siemens Energy shares slide 39% after company seeks guarantees from German govt
▼ + stars: | 2023-10-26 | by ( ) www.reuters.com time to read: +4 min

The logo of energy technology company Siemens Energy is displayed during the LNG 2023 energy trade show in Vancouver, British Columbia, Canada, July 12, 2023. The weekly said Siemens Energy is seeking up to 15 billion euros in guarantees. Siemens remains an anchor investor in Siemens Energy, retaining a 25.1% stake. The government was ready to help Siemens Energy while stakeholders also will have to play their role, they said. J.P. Morgan said in a note that the energy transition will require substantially higher rates of investments, which will bring commercial opportunities for Siemens Energy and sector peers.

Persons: Chris Helgren, Siemens Gamesa, WirtschaftsWoche, Morgan, Matthias Inverardi, Christian Kraemer, Alexander Huebner, Vera Eckert, Friederike Heine, Miranda Murray, Sabine Wollrab, Rachel More, Jan Harvey, Susan Fenton Organizations: Siemens Energy, REUTERS, Companies Company, Siemens, Siemens AG, Reuters Graphics Reuters, Spiegel, European Commission, Siemens Gamesa, Thomson Locations: Vancouver , British Columbia, Canada, BERLIN, Berlin

☆ India demands $12 bln in tax from online gaming firms -govt source
▼ + stars: | 2023-10-25 | by ( ) www.reuters.com time to read: 1 min

NEW DELHI, Oct 25 (Reuters) - Indian tax authorities have served notices to online gaming companies demanding about 1 trillion rupees ($12.03 billion) in taxes that they have allegedly evaded, a government source said on Wednesday. In August, India decided to impose a 28% tax on online gaming companies on the total funds deposited to play online games, leading to some firms like Mobile Premier League laying off employees. "The amount for which show cause notices have been issued to online gaming companies is around 1 trillion rupees," the government official, who did not want to be named, told reporters. The finance ministry did not immediately respond to a request for comment. ($1=83.1180 Indian rupees)Reporting by Nikunj Ohri; Writing by Sakshi Dayal; Editing by Clarence Fernandez and Muralikumar AnantharamanOur Standards: The Thomson Reuters Trust Principles.

Persons: Nikunj Ohri, Sakshi Dayal, Clarence Fernandez, Muralikumar Organizations: Mobile Premier League, Thomson Locations: DELHI, India

☆ Swedish govt says Estonia has linked Baltic cable, pipeline damages
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +3 min

Estonian Navy conducts an undersea communications cable survey after a subsea gas pipeline and a telecommunications cable connecting Finland and Estonia under the Baltic Sea was damaged, in the Gulf of Finland, October 10, 2023. Estonian Navy Handout/Handout via REUTERS/File Photo Acquire Licensing RightsSTOCKHOLM, Oct 23 (Reuters) - Estonia believes that damage to a telecommunications cable in the Baltic Sea between Sweden and Estonia is related to damage to a pipeline and cable between Estonia and Finland, Sweden's government said on Monday. On Oct. 8 a subsea gas pipeline and telecommunications cable connecting Finland and Estonia were damaged, in what Finnish investigators believe may have been deliberate sabotage. Bohlin added that Estonia had assessed that "the damage to the gas pipeline and communications cable between Finland and Estonia is related to the damage to the communications cable between Sweden and Estonia". NATO has said it is stepping up patrols in the Baltic Sea following the incidents, which have stoked concerns about the security of energy supplies in the wider Nordic region.

Persons: Sweden's, Carl, Oskar Bohlin, Bohlin, Sevmorput, Simon Johnson, Jan Harvey, Emelia Organizations: Estonian Navy, REUTERS, Rights, Civil Defence, NATO, National Bureau of Investigation, Thomson Locations: Finland, Estonia, Baltic, Gulf of Finland, Handout, Rights STOCKHOLM, Sweden, Helsinki, Tallinn, Russia, Germany

☆ Swedish Govt Says Estonia Has Linked Baltic Cable, Pipeline Damages
▼ + stars: | 2023-10-23 | by ( Oct. | At A.M. | ) www.usnews.com time to read: +2 min

STOCKHOLM (Reuters) - Estonia believes that damage to a telecommunications cable in the Baltic Sea between Sweden and Estonia is related to damage to a pipeline and cable between Estonia and Finland, Sweden's government said on Monday. On Oct. 8 a subsea gas pipeline and telecommunications cable connecting Finland and Estonia were damaged, in what Finnish investigators believe may have been deliberate sabotage. Helsinki is investigating the pipeline incident, while Tallinn is probing the cable incident. Last week, Sweden said a third link had been damaged at roughly the same time as the other two. Bohlin added that Estonia had assessed that "the damage to the gas pipeline and communications cable between Finland and Estonia is related to the damage to the communications cable between Sweden and Estonia".

Persons: Sweden's, Carl, Oskar Bohlin, Bohlin, Sevmorput, Simon Johnson, Jan Harvey, Emelia Organizations: Civil Defence, NATO, National Bureau of Investigation Locations: STOCKHOLM, Estonia, Baltic, Sweden, Finland, Helsinki, Tallinn, Russia, Germany

Summary Sept core consumer prices up 2.8% yr/yr vs f'cast +2.7%Core-core index up 4.2% yr/yr in Sept - govtData among factors to come under scrutiny at BOJ's Oct meetingTOKYO, Oct 20 (Reuters) - Japan's core inflation in September slowed below the 3% threshold for the first time in over a year but stayed above the central bank target, keeping alive expectations that policymakers will phase out ultra-easy monetary policy. "While inflation weakened in September, we think inflation will only fall below the BoJ's 2% target by the end of next year," said Marcel Thieliant, head of Asia-Pacific at Capital Economics. The nationwide core consumer price index (CPI), which excludes volatile fresh food costs, rose 2.8% in September from a year earlier - the first time it has slowed below 3% since August 2022, government data showed on Friday. All the same, the rate has tracked above the BOJ's 2% target for 18 straight months. Reporting by Takahiko Wada and Leika Kihara; Editing by Muralikumar Anantharaman and Shri NavaratnamOur Standards: The Thomson Reuters Trust Principles.

Persons: Marcel Thieliant, Takahiko Wada, Leika, Muralikumar Anantharaman Organizations: Bank of Japan, Capital Economics, Thomson Locations: TOKYO, Asia

☆ Polish president to consult with party leaders on forming govt
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

Poland's President Andrzej Duda prepares to cast his ballot during the parliamentary election in Krakow, Poland, October 15, 2023. "The meetings will be held separately with each of the election committees, in the order in accordance with the results achieved by these committees in the elections." Duda said before the vote that he would give the first shot at forming a cabinet to the group or party that won most ballots. "The president knows his responsibilities and will not give in to pressure," aide Malgorzata Paprocka told Rzeczpospolita daily. This means the process of forming a new government in Poland, the largest country in the EU's eastern wing, could take weeks or even months.

Persons: Andrzej Duda, Jakub Porzycki, Wyborcza.pl, Duda, Michal Kobosko, Duda's, Malgorzata Paprocka, Alan Charlish, Gareth Jones Organizations: REUTERS, Rights, Union, Law and Justice, Rzeczpospolita, Thomson Locations: Krakow, Poland, Brussels, Republic of Poland

France, where Ryanair serves cities such as Marseille and Bordeaux, has floated proposals for a minimum ticket price in an effort to reduce pollution from aviation. The French price proposal, which EU officials said has drawn some support from the Netherlands and Belgium, got short shrift from senior Ryanair executive Eddie Wilson. Having established a strong position in large parts of Western Europe, Ryanair is now looking east to countries such as Poland for further growth. Europe's main airlines lobby group expressed relief and called on more European coordination to support the sector. Lufthansa CEO Carsten Spohr has said a stronger ITA will reinvigorate competition in the Italian market but Ryanair's Wilson is unperturbed, describing ITA as a sideshow.

Persons: Eddie Wilson, Wilson, Andrea Giuricin, Giorgia, Giuseppe Cocuzza, Ourania Georgoutsakou, Carsten Spohr, Ryanair's Wilson, Rome Fiumicino, Sacbo, Angelo Amante, Keith Weir, Joanna Plucinska, Emelia Sithole Organizations: Ryanair, Europe's, European Union, Ryanair DAC, Alitalia, TRA Consulting, European Commission, Airlines for, ITA, Lufthansa, Cortina d'Ampezzo, Thomson Locations: Italy, ROME, France, Marseille, Bordeaux, Sicily, Sardinia, Netherlands, Belgium, Europe, Western Europe, Poland, Rome, Catania, Airlines for Europe, Bergamo, Milan, Malpensa, Brescia, London

ON TRACK FOR GOVT GDP TARGETThe recovery momentum suggests the government's full year 2023 growth target of around 5.0% is likely to be achieved. The key issue is what growth target the government will set and how much fiscal easing will take place." The statistics bureau said China would be able to hit the 2023 growth target if the fourth quarter growth tops 4.4%. Moody's Analytics has also raised its 2023 growth projection to 5% from 4.9%. The faltering property sector has hit some of the biggest developers in the country.

Persons: Matt Simpson, Zhiwei Zhang, Tingshu Wang, Frederic Neumann, Louise Loo, Ellen Zhang, Joe Cash, Kevin Yao, Shri Navaratnam Organizations: Gross, National Bureau, Statistics, Reuters, Index, New, REUTERS, Nomura, JPMorgan, Analysts, Country Garden Holdings, HK, Global Research, HSBC, Oxford Economics, Monetary Fund, Thomson Locations: BEIJING, Brisbane, U.S, Beijing, China, New Zealand, Asia

☆ IMF warning on China puts 'Japanization' risk in spotlight
▼ + stars: | 2023-10-16 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

"Under the Xi administration, China probably shifted its attention away from economics," he told Reuters. "What's fast emerging is the risk of China slipping into deflation, or the 'Japanization' of its economy," Bank of Japan (BOJ) board member Asahi Noguchi said on Thursday. In its World Economic Outlook, the IMF cut China's growth forecast for this year to 5.0% from 5.2% in April, and warned that its property sector crisis could deepen with global spillovers. To be sure, there are differences between what is happening in China and the experience of Japan. "Overall, we believe that China can avoid a prolonged period of sub-par growth with the right policies," Srinivasan said, when asked about the chance of "Japanization" in China.

Persons: Aly, Hiroshi Watanabe's, Hiroshi Watanabe, Japan's, Watanabe, Xi, Asahi Noguchi, Krishna Srinivasan, Srinivasan, doesn't, Leika Kihara, Tetsushi Kajimoto, Chizu Organizations: China Evergrande Group, REUTERS, Japan, Reuters, International Monetary Fund, World Bank, Bank of Japan, Economic, Pacific Department, Thomson Locations: Danzhou, Hainan province, China, Japan, MARRAKECH, Morocco, Marrakech, Asia, Beijing, Tokyo

The budget bill will then go to parliament, which must pass it by the end of the year. Investors have been demanding a higher premium to hold Italian government bonds since Rome last month raised its budget deficit targets for the 2023-2025 period, setting it up for a possible clash with the European Commission. AGEING POPULATIONNext year people earning up to 28,000 euros per year will pay income tax (known as IRPEF) at 23%, according to the officials. Meloni also aims to earmark at least 1 billion euros for measures, which have yet to be detailed, aimed at addressing Italy's demographic crisis. The scheme could increase tax revenues in Italy by between 2 and 3 billion euros, one official said.

Persons: Giorgia, Giancarlo Giorgetti, DBRS, Fitch, Moody's, Meloni, Giuseppe Fonte, Keith Weir Organizations: Treasury, European Commission, P, Thomson Locations: ROME, Rome, Ukraine, Italy

☆ Analysis: EUphoria! Poland election surprise spurs investor hope
▼ + stars: | 2023-10-16 | by ( Marc Jones | ) www.reuters.com time to read: +4 min

Donald Tusk, leader of the largest opposition grouping Civic Coalition (KO), delivers a speech after the exit poll results are announced in Warsaw, Poland, October 15, 2023. As Europe’s sixth-largest economy, a revitalised pro-EU attitude in Poland would be particularly welcome. The 66-year old Tusk and his pro-EU coalition allies may still have to wait weeks or even months though before getting a turn at forming a government. Duda has referred the issue at the heart of that row to a constitutional tribunal in Poland. The central bank though has slashed interest rates at its last two meetings as the election campaign burst into life.

Persons: Donald Tusk, Kacper, Poland's, Daniel Moreno, Mirabaud, PiS, Moreno, Hungary's Viktor Orban, Robert Fico, Tusk, Andrzej Duda, Duda, Viktor Szabo, Fitch, Szabo, Adam Glapinski, PiS ., Simon Quijano, Evans, Libby George, Karin Strohecker, Josie Kao Organizations: Civic Coalition, REUTERS, European Union, Law and Justice, European, EU, Brussels, PiS, Gemcorp, Ukraine, Reuters, Thomson Locations: Warsaw, Poland, Brussels, Europe, EU, Slovakia, Britain, London

☆ Analysis: IMF warning on China puts 'Japanization' risk in spotlight
▼ + stars: | 2023-10-13 | by ( Leika Kihara | ) www.reuters.com time to read: +4 min

Persons: Aly, Hiroshi Wanatabe, Watanabe, Xi, Asahi Noguchi, Krishna Srinivasan, Srinivasan, doesn't, Leika Kihara, Tetsushi Kajimoto, Chizu Organizations: China Evergrande Group, REUTERS, Japan, Reuters, International Monetary Fund, World Bank, Bank of Japan, Economic, Pacific Department, Thomson Locations: Danzhou, Hainan province, China, Japan, MARRAKECH, Morocco, Marrakech, Asia, Beijing, Tokyo

☆ TSMC plans to make 6nm chips in second Japan plant, govt mulls aid
▼ + stars: | 2023-10-12 | by ( ) www.reuters.com time to read: 1 min

A logo of Taiwanse chip giant TSMC can be seen in Tainan, Taiwan December 29, 2022.REUTERS/Ann Wang/File Photo Acquire Licensing RightsTOKYO, Oct 12 (Reuters) - Taiwan chipmaker TSMC (2330.TW) is planning to start producing 6-nanometer advanced semiconductors in its second Japan plant in Kumamoto in 2027, the Nikkei newspaper reported on Thursday. The Japanese government is considering providing up to 900 billion yen ($6 billion) in subsidies for TSMC's plan, which in total will involve an investment of about 2 trillion yen, Nikkei reported. ($1 = 149.1500 yen)Reporting by Kantaro Komiya; editing by Jason NeelyOur Standards: The Thomson Reuters Trust Principles.

Persons: Ann Wang, Kantaro, Jason Neely Organizations: REUTERS, Rights, Nikkei, Thomson Locations: Tainan, Taiwan, Japan, Kumamoto

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