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☆ China names Lan Foan as new finance minister amid stimulus push
▼ + stars: | 2023-10-24 | by ( ) www.reuters.com time to read: +2 min

BEIJING, Oct 24 (Reuters) - China has appointed Lan Foan, a technocrat with little central government experience, as the new finance minister, state media said on Tuesday, as the government ramps up fiscal stimulus in a bid to revive the economy. Lan, 61, who was named the Communist Party chief at the finance ministry last month, has succeeded Liu Kun who had been finance minister since 2018. Previously, Lan was the party chief of the northern Chinese Shanxi province. He transferred to Shanxi in 2021, as the province's vice party chief, before becoming the party chief in December 2022. Liu, China's finance minister since 2018, has surpassed the official retirement age of 65 for minister-level officials.

Persons: Lan Foan, Liu Kun, Lan, Liu, Kevin Yao, Alison Williams Organizations: Communist Party, Hubei University of Finance, Economics, Thomson Locations: BEIJING, China, Shanxi, Beijing, Guangdong

☆ ANALYST VIEW Argentina vote headed for runoff between ruling Peronist and radical Milei
▼ + stars: | 2023-10-23 | by ( ) www.reuters.com time to read: +2 min

[1/2] Argentina's presidential candidate Sergio Massa addresses supporters as he reacts to the results of the presidential election, in Buenos Aires, Argentina October 22, 2023. REUTERS/Mariana Nedelcu Acquire Licensing RightsLONDON, Oct 23 (Reuters) - A stronger-than-expected showing by Argentina's ruling Peronist coalition at a general election on Sunday has set the stage for a run-off vote on Nov. 19 between Economy Minister Sergio Massa and far-right radical Javier Milei. First, any announcements by the two candidates advancing to the second round. MARIANO MACHADO, PRINCIPAL AMERICAS ANALYST, VERISK MAPLECROFT, MALAGA"It is true that in the first round, societal mood shied away from radical change; but in the second round, pro-change voters may shift to Milei to oust Kirchnerism from power." The combination of a libertarian candidate pushing for dollarisation, with minister Massa hiking the money-printing machine to produce a political miracle for ‘candidate’ Massa could finally push macroeconomic variables off the cliff’s edge."

Persons: Sergio Massa, Mariana Nedelcu, Argentina's, Javier Milei, SERGIO ARMELLA, GOLDMAN SACHS, Massa, Milei, DIEGO W, PEREIRA, Patricia, Bullrich’s, Juan, MARIANO MACHADO, VERISK, Kirchnerism, ’ Massa, Karin Strohecker, Kirsten Donovan, Bernadette Baum Organizations: REUTERS, Peronist, JPMORGAN, NEW, Thomson Locations: Buenos Aires, Argentina, AMERICAS, VERISK MAPLECROFT, MALAGA, Rosario

☆ Nigeria expects $10 bln in forex inflows in weeks - finance minister
▼ + stars: | 2023-10-23 | by ( Chijioke Ohuocha | ) www.reuters.com time to read: +2 min

ABUJA, Oct 23 (Reuters) - Nigeria expects $10 billion in foreign currency inflows in the next few weeks to ease liquidity in a foreign exchange market that has cramped growth in Africa's biggest economy, finance minister Wale Edun said on Monday. The West African country has faced chronic dollar shortages after foreign investors exited local assets during a period of low oil prices. Since then, investors are yet to return and the central bank has not yet settled outstanding demand for dollars from foreign investors seeking to repatriate funds or airlines seeking to send money from ticket sales abroad. Edun said President Bola Tinubu on Thursday signed two executive orders to allow domestic issuance of instruments in foreign currency and also allow all cash outside the banking system to be brought into the banks. He added that liquidity would also come from state-oil firm crude sales and foreign investment firms willing to invest in Nigeria.

Persons: Wale Edun, Edun, Bola Tinubu, Tinubu, Chijioke, MacDonald Dzirutwe, Bernadette Baum, Mark Potter Organizations: Thomson Locations: ABUJA, Nigeria, Africa's

The White House reported Biden's separate calls with the Western leaders, Netanyahu and Pope Francis amid growing fears that the Israel-Hamas war could mushroom into a wider Middle East conflict as Israel pounded Gaza and clashes on its border with Lebanon intensified. It was not immediately clear why Biden's call with the Western leaders did not include Japan. U.S. President Joe Biden has demonstrated unwavering support for Israel's security over a half century in public life. Biden and the Catholic leader discussed "the need to prevent escalation in the region and to work toward a durable peace in the Middle East," the White House said. Reporting by Andrea Shalal and Kanishka Singh in Washington; Editing by Nick Zieminski and Lisa ShumakerOur Standards: The Thomson Reuters Trust Principles.

Persons: Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Pope Francis, Biden, Read, Andrea Shalal, Kanishka Singh, Nick Zieminski, Lisa Shumaker Organizations: Sunday, Hamas, White, Israeli, Thomson Locations: REHOBOTH BEACH , Delaware, Israel, Palestinian, Canada, France, Britain, Germany, Italy, Gaza, Lebanon, Japan, Morocco, Tel Aviv, Ukraine, Washington

☆ Biden Holds Call With Key Western Allies, Pope to Discuss Israel-Hamas War
▼ + stars: | 2023-10-22 | by ( Oct. | At P.M. | ) www.usnews.com time to read: +1 min

The White House reported Biden's separate calls with the Western leaders, Netanyahu and Pope Francis amid growing fears that the Israel-Hamas war could mushroom into a wider Middle East conflict as Israel pounded Gaza and clashes on its border with Lebanon intensified. It was not immediately clear why Biden's call with the Western leaders did not include Japan. Biden convened a virtual meeting of the G7 after Russia's invasion of Ukraine in February 2022. Biden and the Catholic leader discussed "the need to prevent escalation in the region and to work toward a durable peace in the Middle East," the White House said. (Reporting by Andrea Shalal and Kanishka Singh in Washington; Editing by Nick Zieminski and Lisa Shumaker)

Persons: Andrea Shalal, Kanishka Singh, Joe Biden, Benjamin Netanyahu, Israel, Netanyahu, Pope Francis, Biden, Nick Zieminski, Lisa Shumaker Organizations: Reuters, Sunday, Hamas, White Locations: Kanishka Singh REHOBOTH BEACH , Delaware, Israel, Palestinian, Canada, France, Britain, Germany, Italy, Gaza, Lebanon, Japan, Morocco, Ukraine, Washington

Instead, because the plan has been weakened, it says the minimum tax will generate only half that — less than 5% of corporate tax revenue. The watchdog group estimates that a 15% minimum tax could have raised roughly $270 billion in 2023. That carveout, the EU Tax Observatory warned, could “give firms incentives to move production to countries with tax rates below 15%." Despite its criticisms of what has happened to the minimum tax, the EU Tax Observatory praised a separate effort to stop the wealthy from dodging taxes. The EU TAX Observatory is calling for a 2% global tax on billionaires' wealth, a proposal it says would raise $250 billion annually from fewer than 3,000 people.

Persons: Janet Yellen, wouldn't, ″, Gabriel Zucman, ’ ’ Organizations: WASHINGTON, European Union, Organization for Economic Cooperation, Development, Apple, Nike, OECD, EU, Observatory, EU Tax Observatory, Companies, Treasury, Paris School of Economics, University of California Locations: Bermuda, Cayman Islands, United States, Berkeley

☆ Live updates: Two American hostages released as Israel-Hamas war rages
▼ + stars: | 2023-10-21 | by ( Kathleen Magramo | Andrew Raine | ) edition.cnn.com time to read: +2 min

Arab citizens and permanent residents in Israel make up just over 20% of the country’s population. The roughly 2 million people are distinct from Palestinians living in the occupied West Bank and Gaza – but they are far from a uniform group. Many have family in the West Bank and Gaza. Last Wednesday, Prime Minister Benjamin Netanyahu and some opposition leaders joined an emergency war cabinet to manage the war. The finance minister is Bezalel Smotrich, who supports abolishing the Palestinian Authority and annexing the West Bank – neither are part of the war cabinet, although they are maintaining their ministerial roles.

Persons: Aya Najame, Najame, “, Benjamin Netanyahu, Itamar Ben Gvir, Bezalel Smotrich, West Bank –, Read Organizations: West Bank, CNN, Palestinian Authority Locations: Arab, Haifa, Israel, Gaza, Jerusalem, Lebanon, Syria

Arab citizens and permanent residents in Israel make up just over 20% of the country’s population. His ancestors were evacuated from Iqrit, a village north of Haifa, by Israeli forces during the 1948 war. Last Wednesday, Prime Minister Benjamin Netanyahu and some opposition leaders joined an emergency war cabinet to manage the war. “Some people call it Turkish coffee, some call it Jerusalem coffee or Palestinian coffee or Israeli coffee … when I am in the mood, I call it Palestinian coffee,” he said, watching a spoonful of sugar bubble up from the bottom of the pot. “When I am not in the mood, I call it Jerusalem coffee … to avoid the politics”

Persons: Aya Najame, Najame, “, ” Najame, it’s, ” Ashraf Ashkar, ” Ashkar, Ashkar, Benjamin Netanyahu, Itamar Ben Gvir, Bezalel Smotrich, B’Tselem, Smotrich, we’re, ”, Diane Buttu, ’ ”, Buttu, ” Naim Khoury, Ivana Kottasova, CNN Naim Khoury, ” Khoury, ’ Abu Nader, Nader, –, Abu Nader, ” Buttu, there’s Organizations: Jerusalem CNN, West Bank, CNN, “, Israel Defense Forces, Palestinian, Palestinian Authority, Israeli Information Center, Human Rights, United Nations Office, Humanitarian Affairs Locations: Haifa, Jerusalem, Arab, Israel, Gaza, Lebanon, Syria, “ Haifa, Nisnas, Iqrit, Territories, Palestinian, Jerusalem’s Old City, Old City, ”, cezve

☆ France will struggle to meet deficit target, says IMF chief economist
▼ + stars: | 2023-10-21 | by ( ) www.reuters.com time to read: +1 min

PARIS, Oct 21 (Reuters) - France will struggle to bring down its budget deficit to 2.7% by 2027 without "a little more effort," the chief economist at the International Monetary Fund said on Saturday. Reforms that the government has put in place such as on pensions and unemployment "will bear fruit and help (...) with the budgetary situation in France, but it needs a bit more unfortunately," Pierre-Olivier Gourinchas told France Inter. In its 2024 budget, the French government is aiming to reduce debt and to make 16 billion euros in savings. On Wednesday, the government pushed revenue legislation in the 2024 budget bill through the lower house of parliament using special constitutional powers to bypass a lawmakers' vote, after failing to gain enough support. The spending side of the budget bill, which is to be examined by lawmakers starting next week, includes plans for 16 billion euros in savings, with 10 billion coming from the end of gas and power price caps.

Persons: Pierre, Olivier Gourinchas, Bruno Le Maire, Layli Organizations: International Monetary Fund, France Inter, Moody's Investment, Thomson Locations: France

☆ UK 30-year borrowing costs rise to highest since 1998
▼ + stars: | 2023-10-20 | by ( David Milliken | ) www.reuters.com time to read: +2 min

A bus passes the Bank of England in the City of London, Britain, February 14, 2017. Ten-year gilt yields were 2 basis point higher on the day at 4.69%, not far off a 15-year high of 4.755% set on Aug. 17. The BoE has raised its interest rate 14 times since December 2021 to 5.25%, but investors think it is now on pause, with only a 13% chance of a rate rise on Nov. 2 after its next meeting. The chances of a further quarter-point rate to 5.5% by March next year stand at around 55%. Reporting by David Milliken; editing by William JamesOur Standards: The Thomson Reuters Trust Principles.

Persons: Hannah McKay, Liz Truss, Jerome Powell, Richard Hunter, Jeremy Hunt, BoE, David Milliken, William James Our Organizations: Bank of England, City of, REUTERS, Treasury, Federal, Interactive Investor, Bank of, Thomson Locations: City, City of London, Britain

☆ UK budget deficit undershoots forecast in Sept: ONS
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +1 min

A view of the financial district in London, Britain, September 23, 2023. REUTERS/Matthew Childs/File photo Acquire Licensing RightsLONDON, Oct 20 (Reuters) - Britain recorded a smaller-than-expected budget deficit of 14.347 billion pounds ($17.37 billion) in September, the Office for National Statistics said on Friday. A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 18.3 billion pounds. Government borrowing between April and September, the first half of the 2023/24 financial year, totalled 81.7 billion pounds, 15.3 billion pounds more than in the first half of the previous financial year. British finance minister Jeremy Hunt is due to give a mid-year update on his budget plans alongside new borrowing forecasts from the Office for Budget Responsibility (OBR) on Nov. 22.

Persons: Matthew Childs, Jeremy Hunt, Hunt, David Milliken, William James Our Organizations: REUTERS, National Statistics, Hunt's Conservative Party, Thomson Locations: London, Britain

☆ Moody's lifts UK's outlook to 'stable' on restoration of policy predictability
▼ + stars: | 2023-10-20 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Hollie Adams/File Photo Acquire Licensing RightsOct 20 (Reuters) - Ratings agency Moody's revised Britain's outlook to "stable" from "negative" on Friday, saying policy predictability has been restored after heightened volatility last year around the so-called "mini-budget" under then-Prime Minister Liz Truss. Moody's last changed its outlook on Britain one year ago, when Truss had spooked markets with unfunded tax pledges, culminating in her resignation. "Policy predictability has been restored after heightened volatility last year around the mini-budget," the ratings agency said, affirming the country's rating at "Aa3". The government borrowed 81.7 billion pounds ($99.35 billion) in the first half of the 2023/24 financial year, 15.3 billion pounds more than between April and September 2022, but about 20 billion pounds less than the government forecast in March. On Friday S&P affirmed its AA rating and stable outlook for Britain.

Persons: Hollie Adams, Moody's, Liz Truss, Truss, Rishi Sunak, Jeremy Hunt, Hunt, Poor's, Aatrayee Chatterjee, David Milliken, Alistair Smout, Shailesh Kuber, Daniel Wallis Organizations: REUTERS, Monetary Fund, Britain's, Conservative Party, Britain, Thomson Locations: City, London, Britain, Bengaluru

Family members told CNN that the men were transferred to a nearby hospital and died of their wounds soon after. Meanwhile, tensions are mounting in the West Bank, where Palestinians have been killed in confrontations with both Israeli forces and settlers. “Anyone who challenges us in Judea and Samaria will be met with huge force,” Hagari said, using the Jewish biblical names for the West Bank. Abdulrahman, 12, lost his father seven years ago when he was shot dead by Israeli settlers near Nablus. Aseel Wadi's father and brother were killed by Israeli settlers as they drove to a funeral for Palestinians killed in their West Bank community.

Persons: CNN — Ibrahim Wadi, Ahmad, Hani Odeh, Ibrahim, Odeh, Daniel Hagari, “, ” Hagari, Israel, Abu Raidi, Obaida Abu Srour, Hassan Muhannad, Moath Odesa, Abdulrahman, Rabeea, ” They’ve, Benjamin Netanyahu, Netanyahu, Itamar Ben Gvir, Bezalel Smotrich, Joe Biden, Mahmoud Abbas, Ibrahim Wadi, CNN's Becky Anderson, –, Ibrahim’s, Khitam, Aseel, CNN “, We’ve, ” Organizations: CNN, West Bank, Hamas, Palestinian Ministry of Health, Bank, United Nations, IDF, West Bank ., National, Finance, Palestinian Locations: Qusra, Nablus, Israel, Gaza, Qusra's, Qusra’s, Territories, Brig, Judea, Samaria, Odeh, Jordan, West Bank, Palestinian

FDI in Brazil fell 36% in the first eight months of 2023 to $37.9 billion. Currently, investors in long-term projects in Brazil with exposure to foreign currency pay taxes on currency appreciation over the course of the project - which the central bank has long flagged as a deterrent for FDI. Haddad said he was confident that policymakers had found a tool to shield investors from currency risks keeping them away. Executive orders in Brazil have immediate validity but must be endorsed by lawmakers within four months or they expire. Without that measure, Haddad said it will be "very challenging" to erase the deficit in next year's budget bill.

Persons: Fernando Haddad, Haddad, Luiz Inacio Lula da, Marcela Ayres, Bernardo Caram, Brad Haynes, Christopher Cushing Organizations: Finance, Reuters, Sao Paulo, leftist Workers Party, Executive, Thomson Locations: BRASILIA, Brazil, Brasilia, Sao, United States

But Russia's Accounts Chamber, which oversees budget execution, warned on Monday there were risks the Urals price would fall below $60 in 2024-2026. Russia's forecast sees economic growth of 2.3% in 2024, well above estimates of 1.1% from the International Monetary Fund and 0.5%-1.5% from the Bank of Russia. CHANGING TUNEAt Russia's flagship economic forum in St Petersburg in June, Siluanov said increasing expenditure was difficult, as budget spending had already increased by 1-1/2 times from 2019 to 2022. Now, even as the government outlines plans for spending to jump to 36.7 trillion roubles in 2024, he is more relaxed. Renaissance Capital's Donets and Melaschenko said Russia could create temporary taxes, permanently increase rates of VAT, or adjust Russia's budget rule to permit more spending of energy revenues.

Persons: Evgenia, Anton Tabakh, Vladimir Putin, Anton Siluanov, Denis Popov, Yevgeny Suvorov, Suvorov, Sofya Donets, Andrei Melaschenko, Dmitry Polevoy, Siluanov, Melaschenko, Alexei Sazanov, Sazanov, Konstantin Sonin, It's, Sumanta Sen, Mark Trevelyan, Alexander Marrow, Catherine Evans Organizations: U.S ., Russian, REUTERS, Washington, Finance, International Monetary Fund, Bank of Russia, Capital, Reuters Graphics Russia, University of Chicago, Thomson Locations: Moscow, Russia, Ukraine, West, St Petersburg

☆ Sergio Massa: can Argentine political wheeler-dealer save Peronism?
▼ + stars: | 2023-10-18 | by ( Nicolás Misculin | ) www.reuters.com time to read: +5 min

Argentina's Economic Minister Sergio Massa and Brazil's Finance Minister Fernando Haddad (not pictured) hold a news conference, at the Casa Rosada presidential palace in Buenos Aires, Argentina, January 23, 2023. Massa has his own political structures," a spokesman for the ruling party told Reuters. He studied at a Catholic school in the suburbs of Buenos Aires, joined a conservative political party and then shifted to Peronism. He rose to chief of staff under Fernandez de Kirchner(2007-15), though later left her government under a cloud and set up his own political party. He finished third in the first round of voting when he ran for president in 2015, before he returned to the Peronist coalition as a congressman in 2019.

Persons: Sergio Massa, Fernando Haddad, Agustin Marcarian, Javier Milei, Massa, Julio Burdman, Agustin Rossi, Patricia Bullrich, Alberto Fernandez, grandee Cristina Fernandez de Kirchner, Kirchner, Fernandez de Kirchner, Nicolás Misculin, Adam Jourdan, Marguerita Choy Organizations: Argentina's Economic, Brazil's Finance, Casa, REUTERS, Peronist, Observatory, Reuters, International Monetary Fund, Thomson Locations: Buenos Aires, Argentina, BUENOS AIRES, U.S, Peronism, Tigre

☆ Britain aims for global leadership role with AI safety summit
▼ + stars: | 2023-10-18 | by ( Martin Coulter | ) www.reuters.com time to read: +5 min

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsLONDON, Oct 18 (Reuters) - Britain will host the world's first global artificial intelligence (AI) safety summit next month, aiming to carve out a role following Brexit as an arbiter between the United States, China, and the European Union in a key tech sector. The Nov. 1-2 summit will focus heavily on the existential threat some lawmakers, including Britain's Prime Minister Rishi Sunak, fear AI poses. Sunak, who wants the UK to become a hub for AI safety, has warned the technology could be used by criminals and terrorists to create weapons of mass destruction. Critics question why Britain has appointed itself the centre of AI safety. "We are now reflecting on potential EU participation," a spokesperson told Reuters.

Persons: Dado Ruvic, Rishi Sunak, Sunak, Alan Turing, Kamala Harris, Demis, Matt Clifford, Clifford, we're, Stephanie Hare, Elon Musk, Geoffrey Hinton, Britain, OpenAI, Marc Warner, it's, Vera Jourova, Brando Benifei, Dragos Tudorache, Benifei, Jeremy Hunt, Martin Coulter, Matt Scuffham, Mark Potter Organizations: REUTERS, European Union, Britain's, EU, Bletchley, Google, San, Reuters, China . Finance, Politico, Thomson Locations: Britain, United States, China, England, British, France, Germany, London, U.S, San Francisco, Beijing, Europe

These showed that a rise in fuel prices between August and September put upward pressure on the annual CPI rate, which economists had expected to drop to 6.6%. "Progress in bringing inflation down is proving slow, with the UK generating higher levels of inflation than any other major industrialised nation," said Ian Stewart, chief economist at accountancy firm Deloitte. "The persistence of underlying inflation, and service price pressures, suggests that interest rates are likely to stay close to current levels for much of the next year," he added. Services price inflation - another CPI component the BoE studies - rose to 6.9% in September from 6.8%. British consumer price inflation remains the highest in the Group of Seven advanced nations, with France and Italy the nearest with rates of 5.7% and 5.6% respectively for September.

Persons: Ian Stewart, BoE, Rishi Sunak, Jeremy Hunt, Bernadette Baum, Toby Chopra Organizations: Bank of England, Office, National Statistics, Deloitte, Seven, Thomson Locations: British, August's, Ukraine, France, Italy

☆ Austrian ex-chancellor Kurz goes on trial for perjury
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +3 min

Former Austrian Chancellor Sebastian Kurz speaks to media as he arrives at the Austrian People's Party (OeVP) conference in Graz, Austria May 14, 2022. REUTERS/Lisa Leutner/File Photo Acquire Licensing RightsVIENNA, Oct 18 (Reuters) - Austria's conservative former chancellor Sebastian Kurz went on trial for perjury on Wednesday in a case separate from the corruption investigation that forced him from office but which could still influence his ruling party's electoral fate. Kurz, who denies all the allegations made against him, has quit politics yet the ruling coalition he formed with the left-wing Greens in 2020 remains in power. Kurz's People's Party (OVP) is currently neck-and-neck with the opposition Social Democrats in opinion polls, well behind the far-right Freedom Party on around 30%. As chancellor, Kurz was one of Europe's youngest leaders and a household name in German-speaking countries known for his hard line on immigration.

Persons: Sebastian Kurz, Lisa Leutner, Kurz, Kurz's, Gernot Bluemel, Chancellor Karl Nehammer, Francois Murphy, Alexandra Schwarz, Christina Fincher Organizations: Austrian, Austrian People's Party, REUTERS, Rights, Greens, Kurz's People's Party, Social, Party, OVP, Thomson Locations: Graz, Austria, Vienna

☆ Who is in Putin's delegation to China - and who stayed in Moscow?
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +2 min

[1/2] Russian President Vladimir Putin arrives for the opening ceremony of the Belt and Road Forum in Beijing, China, October 18, 2023. Sputnik/Dmitry Azarov/Pool via REUTERS Acquire Licensing RightsMOSCOW, Oct 18 (Reuters) - Russian President Vladimir Putin is currently on a visit to China, his second only trip outside the former Soviet Union since the February 2022 invasion of Ukraine. Who is in the Russian delegation with Putin - and who stayed in Russia? Before Putin left for China, he was shown at a meeting with defence and spy chiefs at his Novo-Ogaryovo residence outside Moscow. The following top officials are thought to be in Russia.

Persons: Vladimir Putin, Dmitry Azarov, Alexander Novak, Sergei Lavrov, Yuri Ushakov, Maxim Oreshkin, Dmitry Peskov, Central Bank Governor Elvira Nabiullina, Anton Siluanov, Maxim Reshetnikov, Dmitry Shugaev, Yuri Chikhanchin, Dmitry Chernyshenko, Igor Morgulov, Igor Sechin, Alexei Miller, Alexei Likhachev, Andrei Kostin, Igor Shuvalov, Leonid Mikhelson, Oleg Belozyorov, Kirill Dmitriev, Putin, Sergei Shoigu, Nikolai Patrushev, Alexander Bortnikov, Dmitry Medvedev, Anton Vaino, Sergei Kiriyenko, Mikhail Mishustin, Viktor Zolotov, Sergei Naryshkin, Guy Faulconbridge, Muralikumar Organizations: Forum, Sputnik, REUTERS Acquire, Rights, Soviet Union, Putin, Kremlin, Central Bank Governor, Federal Service for Military, Gazprom, VEB, Russian, Russian Direct Investment, Russia Security, Federal Security Service, Russia's Foreign Intelligence, Reuters, Thomson Locations: Beijing, China, Ukraine, Russia, CHINA, North Korea, China BUSINESSPERSONS, Moscow, Russian

☆ Canada targets Airbnb, others to ease rental shortage
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +3 min

REUTERS/Susana Vera/File photo Acquire Licensing RightsOTTAWA, Oct 17 (Reuters) - Canada will take steps in the coming weeks to ease a rental-unit shortage exacerbated by Airbnb (ABNB.O) and other short-term rental platforms, Finance Minister Chrystia Freeland said on Tuesday. Freeland said the government is examining options to ensure more short-term rentals become available as long-term rentals. Cities around the United States are more closely regulating short-term rentals, including by requiring hosts to obtain licenses and pay registration fees. In that province, there are 28,000 daily active short-term rental listings, up 20% from a year ago. Freeland's comments come a day after the banking regulator Office of the Superintendent of Financial Institutions shelved some planned mortgage rules related to tighter regulatory limits on debt-service coverage.

Persons: Finance Chrystia Freeland, Susana Vera, Chrystia Freeland, Freeland, Airbnb, David Ljunggren, Nivedita Balu, Alistair Bell, Rod Nickel Organizations: Finance, IMF, World Bank, REUTERS, Rights OTTAWA, British Columbia, Thomson Locations: Marrakech, Morocco, Canada, United States, Florence, Italy, Byron, British, Freeland, Toronto, Vancouver, Montreal, Ottawa

From this viewpoint, Japan is closely watching the situation with serious concern," she added when asked about Japan's oil dependence on the Middle East, which supplies more than 90% of its needs. G7 finance ministers, who were meeting in Morocco as events escalated, issued a brief statement on the attacks on Oct. 12. Japan was "standing one step behind the United States and some European countries", added Isamu Nakashima, associate research fellow at the Middle East Institute of Japan. "The through line of Japan's Middle East policy has been maintaining the flow of energy imports from the region," said David Boling, a director at consulting firm Eurasia Group. While the United States is Japan's closest ally, when it comes to the Middle East, Tokyo will be very wary of being seen as its proxy, said Shuji Hosaka, board member of the Institute of Energy Economics Japan.

Persons: Yoko Kamikawa, Fumio Kishida, Isamu Nakashima, David Boling, Shuji Hosaka, John Geddie, Yoshifumi Takemoto, Tim Kelly, Tetsushi Kajimoto, Ekaterina Golubkova, Kiyoshi Takenaka, Kentaro Sugiyama, Alex Richardson Organizations: Petroleum, Kyodo, Tokyo, Reuters, Middle East Institute of Japan, Middle, Energy, Eurasia Group, U.S, Institute of Energy Economics Japan, Thomson Locations: Kagoshima prefecture, Japan, TOKYO, Israel, Tokyo, Gaza, Iran, Hezbollah, Syria, Morocco, United States, U.S, Saudi Arabia, East

☆ Whatever unfolds in Gaza war, judgment day looms for Netanyahu
▼ + stars: | 2023-10-17 | by ( Dan Williams | ) www.reuters.com time to read: +5 min

Israeli Prime Minister Benjamin Netanyahu speaks to the media during a joint press conference with German Chancellor Olaf Scholz, in Tel Aviv, Israel, Tuesday, Oct. 17, 2023. Maya Alleruzzo/Pool via REUTERS Acquire Licensing RightsJERUSALEM, Oct 17 (Reuters) - One Israeli cabinet minister was barred from a hospital visitors' entrance. But there is little love shown for a government being widely accused of dropping the country's guard and engulfing it in a Gaza war that is rattling the region. Whatever ensues, a day of judgment looms for Prime Minister Benjamin Netanyahu, after a record-long career of political comebacks. An opinion poll in Maariv newspaper found that 21% of Israelis want Netanyahu to remain prime minister after the war.

Persons: Benjamin Netanyahu, Olaf Scholz, Maya Alleruzzo, Golda Meir, Amotz Asa, Shalom Hartman, Netanyahu, Asa, El, Benny Gantz, Gantz, Israel, Amit Segal, It's, Dan Williams, Howard Goller Organizations: REUTERS Acquire, Rights, Labour, Shalom, Shalom Hartman Institute, Likud, Reuters, National Unity, Thomson Locations: Tel Aviv, Israel, Meir's, Jerusalem, Maariv, ISRAEL, Gaza, Saudi Arabia, Iran

☆ UK regular pay growth slows for first time since January
▼ + stars: | 2023-10-17 | by ( David Milliken | ) www.reuters.com time to read: +4 min

Private-sector regular pay - the component looked at most closely by the BoE - saw annual growth slow to 8.0% in the three months to August, from 8.1%. Regular pay, adjusted for CPI inflation, grew by an annual 0.7% in the three months to August. Reuters GraphicsSLUGGISH ECONOMYBank of England Chief Economist Huw Pill said on Monday that fast rates of nominal pay growth stood at odds with most other labour market measures, which have pointed to a slowing economy. The number of job vacancies in the three months to September fell to a two-year low of 988,000, Tuesday's data showed. Unemployment figures and other related labour market data will not be published until Oct. 24, after the ONS said on Friday it needed more time to take account of low response rates.

Persons: Kevin Coombs, BoE, James Smith, Jeremy Hunt, Rishi Sunak, Huw Pill, payrolls, Ashley Webb, Webb, Sachin Ravikumar, William Schomberg, Bernadette Baum Organizations: REUTERS, LONDON, Bank of England, Britain's, National Statistics, Reuters, U.S, Bank, England's, ING, Private, of England, International Monetary, Capital Economics, Thomson Locations: Canary Wharf, London, Britain

☆ Morning Bid: Banks, Biden visit buoy markets
▼ + stars: | 2023-10-17 | by ( ) www.reuters.com time to read: +5 min

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023. Biden leaves later on Tuesday for a high stakes visit to Israel and Jordan and Washington said Israeli Prime Minister Benjamin Netanyahu had agreed to let humanitarian aid reach besieged Gazans. That reversed a pre-weekend 'safety bid' that emerged amid fears an Israeli ground invasion into Gaza could draw other regional countries and groups into the war. Before then, bond markets will have to negotiate tomorrow's 20-year Treasury auction. The relatively new 20-year tenor has often proved unpopular and will be watched closely after a poor reception for the latest 30-year bond last week.

Persons: Brendan McDermid, Mike Dolan, Joe Biden's, Biden, Washington, Benjamin Netanyahu, Wells, Goldman Sachs, Charles Schwab, Jerome Powell's, Vladimir Putin, Xi Jinping, Lockheed Martin, Johnson, JB Hunt, Michelle Bowman, John Williams, Neel Kashkari, Tom Barkin, Luis de Guindos, Joe Biden, Olaf Scholz Organizations: New York Stock Exchange, REUTERS, Treasury, JPMorgan, Citigroup, Bank of America, Bank of New York Mellon, Federal Reserve, HK, Bank of England, Lockheed, United Airlines, Michelle Bowman , New York Fed, Minneapolis Fed, Richmond Fed, European Central Bank, European Union, Luxembourg Retail, Reuters Graphics Reuters, EIA, Thomson Locations: New York City, U.S, Israel, Gaza, Jordan, Israeli, Gazans, Asia, Europe, Wells Fargo, China, Russian, Beijing, Ukraine, United, Canada, Michelle Bowman , New, Frankfurt, Luxembourg, Venezuela

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