Reuters USA

WASHINGTON (Reuters) – President Joe Biden’s nominee to run the Internal Revenue service pledged on Wednesday not to increase tax audit rates for American households and small businesses earning less than $400,000 a year as the agency implements $80 billion in new funding. Danny Werfel, a management consultant who was acting IRS Commissioner during the …

Biden’s IRS nominee says won’t raise audit rates on under-$400,000 earners Read More »

By Lucia Mutikani WASHINGTON (Reuters) – U.S. retail sales increased by the most in nearly two years in January after two straight monthly declines as Americans boosted purchases of motor vehicles and other goods, pointing to the economy’s continued resilience despite higher borrowing costs. Coming on the heels of news on Tuesday that monthly inflation …

U.S. retail sales post biggest gain in nearly two years Read More »

By Hannah Lang (Reuters) – The competitive threat of financial technology companies to big banks diminished over the past year as rising interest rates constricted funding, a new report from Moody’s Investor Service found. A decline in venture capital funding in 2022 particularly hurt fintech firms that rely on outside capital to fund their operations …

Fintech threat to big banks fizzled in 2022 as rates rose – report Read More »

TORONTO (Reuters) – Canadian home sales fell 3% in January from December and were down 37.1% on an annual basis, data from the Canadian Real Estate Association showed on Wednesday. The industry group’s Home Price Index fell 1.9% on the month and was down 12.6% annually, while the national average selling price was down 18.3% …

Canadian home sales fall 3% in January Read More »

(Reuters) – The New York Federal Reserve said on Wednesday its barometer of manufacturing activity in New York State contracted for a third straight month in February, but not by as much as economists had expected as orders and shipments stabilized. The regional Fed’s “Empire State” index on current business conditions rose to -5.8 this …

New York factory activity contracts less than expected in February, NY Fed says Read More »

HELSINKI (Reuters) – Large subsidies and debt are not the right response to the U.S. Inflation Reduction Act, which should instead be an opportunity to reconsider the framework conditions for European industry, German Finance Minister Christian Lindner said on Wednesday. “We need fiscal discipline and the improvement of existing instruments,” Lindner told a news conference …

Big subsidies and debt not solution to U.S. inflation act – German finance min Read More »

BELGRADE (Reuters) – Kosovo and Serbian leaders will have to make “difficult compromises” to resolve outstanding issues and normalise their relations, U.S. Secretary of State Antony Blinken said on Wednesday. U.S. and EU envoys are pressing the countries to approve a peace plan presented in mid-2022 under which Belgrade would stop lobbying against Kosovo having …

Blinken says Kosovo, Serbian leaders face ‘difficult compromises’ Read More »

By Gabriella Borter (Reuters) – Sixty-two percent of Americans say race and ethnicity should not be considered at all in college admissions, according to new Reuters/Ipsos polling on policies at the center of high-profile cases before the U.S. Supreme Court this spring. The public opinion poll, which surveyed 4,408 adults from Feb. 6-13, found that …

Most Americans think college admissions should not consider race -Reuters/Ipsos poll Read More »