Cuba says its allies have pledged help to end its economic crisis

Cuba says its allies have pledged help to end its economic crisis

HAVANA, Nov 30 (Reuters) – China, Russia, Algeria and Turkey have pledged to restructure Cuba’s debt, provide new trade and investment financing, and help ease an energy crisis, Cuban President Miguel Diaz-Canel told state-run media following a rare trip abroad last week. Any help would be a blessing for crisis-racked Cuba. The Communist-run country has … Read more

China likely to have 1,500 nuclear warheads by 2035: Pentagon

China likely to have 1,500 nuclear warheads by 2035: Pentagon

WASHINGTON, Nov 29 (Reuters) – China will likely have a stockpile of 1,500 nuclear warheads by 2035 if it continues with its current nuclear buildup pace, according to a report released by the Pentagon on Tuesday. The figure underscores mounting US concerns about China’s intentions for its expanding nuclear arsenal, even though the projections do … Read more

The yuan’s the new dollar as Russia rides to the redback

The yuan’s the new dollar as Russia rides to the redback

Russia turns to the Chinese currency amid sanctions Moscow becomes No.4 offshore trading center for yuan Yuan’s share of Russian FX market jumps from 1% to 45% Russian central bank supports trend but warns of risks This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine MOSCOW/SHANGHAI, Nov … Read more

Younger Chinese are spurning factory jobs that power the economy

Younger Chinese are spurning factory jobs that power the economy

SHENZHEN, Nov 21 (Reuters) – Growing up in a Chinese village, Julian Zhu only saw his father a few times a year when he returned for holidays from his exhausting job in a textile mill in southern Guangdong province. For his father’s generation, factory work was a lifeline out of rural poverty. For Zhu, and … Read more

UK’s Hunt says he has to raise taxes to fix economy

UK’s Hunt says he has to raise taxes to fix economy

UK finance minister says tax rises are coming ‘You have to do what is right for the country’ – Hunt New forecasts will show recession coming Priority is to bring down inflation – Hunt LONDON, Nov 12 (Reuters) – British finance minister Jeremy Hunt said he will have to raise taxes in next week’s budget … Read more

Lula’s market lure fades after Brazil’s ‘Liz Truss moment’

Lula’s market lure fades after Brazil’s ‘Liz Truss moment’

BRASILIA, Nov 11 (Reuters) – There is growing investor pessimism that Brazilian President-elect Luiz Inacio Lula da Silva will govern with fiscal discipline as the country’s central bank chief likened a market selloff to a “Liz Truss moment for Brazil.” Brazil’s real currency , and Bovespa stock index (.BVSP) both lost around 4% on Thursday, … Read more

Lula’s honeymoon with Brazil markets ends amid spending plan fears

Lula’s honeymoon with Brazil markets ends amid spending plan fears

BRASILIA, Nov 10 (Reuters) – Brazilian President-elect Luiz Inacio Lula da Silva’s brief honeymoon with financial markets looked finished on Thursday, as he pushed for more room to grow social spending without setting long-term fiscal rules or naming his top economic policymakers . Brazil’s currency and benchmark Bovespa stock index (.BVSP), which rose last week … Read more

Ukraine conflict, sanctions set to blow hole in Russia’s finances

Ukraine conflict, sanctions set to blow hole in Russia’s finances

This content was produced in Russia where the law restricts coverage of Russian military operations in Ukraine Nov 2 (Reuters) – The cost of Russia’s military mobilization and the impact of Western sanctions are set to blow a hole in the government’s budget forecasts and drain Moscow’s reserves to their lowest level in years, according … Read more

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates

OTTAWA/WINNIPEG, Manitoba, Oct 30 (Reuters) – At a warehouse on an industrial stretch in Ottawa, giant metal crates of donated groceries are piled high as volunteers sort canned goods, pasta and other foods to be distributed to pantries around the Canadian city . Demand has surged 33% at the Ottawa Food Bank from pre-COVID-19 pandemic … Read more

Once wary of immigrants, Canadian town sends out global labor SOS

Once wary of immigrants, Canadian town sends out global labor SOS

OTTAWA/MONTREAL, Oct 27 (Reuters) – Herouxville, a small town in Canada’s Quebec, hit the headlines 15 years ago when it issued a code of conduct for would-be immigrants, warning them not to stone women or burn them alive, and to only cover their faces at Halloween. Fast forward to 2022, and it’s actively courting new … Read more