Japan’s ruling party will call for a beefed-up extension of gasoline subsidies until year-end to ease the hit from inflation on households, according to a draft of proposals seen by Bloomberg News on Wednesday.
Italy’s government has no intention to tax banks’ “legitimate profits,” Prime Minister Giorgia Meloni said in an interview with Il Sole 24 Ore, just weeks after her right-wing government roiled markets with a surprise announcement of a windfall tax on lenders.
India’s move to cut cooking gas prices could soften inflation and shift focus toward a reduction in gasoline and diesel prices ahead of some major festivals and key elections, according to Citigroup Inc.
Toyota Motor Corp.’s global production rose 10% last month to a July record of 918,347 vehicles on robust demand and further easing of pandemic-related disruptions.
The Reserve Bank of India must ensure there’s no spillover from the surge in food prices, two monetary policymakers said, as the odds for a rate hike begin to build with inflation at a 15-month high.
Inflation in the German state of North Rhine-Westphalia rose to 5.9% on the year in August, up from 5.8% in July, indicating German inflation may unexpectedly rise.
Hurricane Idalia is building strength in the Gulf of Mexico as it heads toward landfall Wednesday on Florida’s west coast, where it threatens to unleash floods and trigger blackouts.
South Korea plans to offer mortgages with advantageous interest rates to parents of newborns in the latest effort to fight the decline in fertility rates and slow the aging of society.
Auto sales in Europe rose in July as growing demand for electric vehicles and improved parts availability helped fuel an 12th consecutive month of growth.
China’s anticipated cut to rates on existing mortgages marks one of the most concrete actions yet to boost the beleaguered economy, though it likely won’t be enough on its own to shore up growth.
