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Uruguay’s leftist presidential frontrunner: no plan for tax hikes; focus on growth

By Lucinda Elliott MONTEVIDEO (Reuters) – Uruguay’s center-left presidential candidate Yamandu Orsi, the frontrunner in polls ahead of elections this month, plans to avoid unpopular tax hikes despite a growing deficit, instead looking to spur faster economic growth in the farming nation. In his first interview with international media ahead of the Oct. 27 first-round …

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ECB cuts rates as expected, says well on track to tame inflation

(Reuters) – The European Central Bank cut interest rates for the third time this year on Thursday in a nod to sluggish economic growth, some softening in an otherwise rock-solid labour market and easing consumer price pressures. The ECB cut its deposit rate by 25 basis points to 3.25% as forecast in a Reuters poll …

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Factbox-What to expect in 2024: Forecasts for GDP, inflation and other assets

(Reuters) -The U.S. Federal Reserve finally cut its interest rate by an oversized 50 basis points (bps) in its Sept 17-18 meeting that Chair Jerome Powell said was meant to show policymakers’ commitment to sustaining a low unemployment rate now that inflation had eased. In addition to approving the half-percentage-point cut, Fed policymakers projected the …

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Carlyle-backed music venture buys rights to Randy Newman’s recorded catalog

By Deborah Mary Sophia and Echo Wang (Reuters) – Litmus Music, a music venture backed by buyout firm Carlyle Group, has acquired the rights to singer-songwriter Randy Newman’s song catalog, which includes his work for Disney’s “Toy Story” films, the companies said on Thursday. As part of the deal, Litmus will get a share of …

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Analysis-Brazil eyes closer regulatory cooperation with new central bank leadership

By Marcela Ayres and Bernardo Caram BRASILIA (Reuters) – Brazil’s government is preparing to cooperate more closely with the central bank on regulatory issues like cryptocurrencies and meal vouchers next year when the bank gets new leadership, following occasional differences over policy on such matters. Incoming central bank chief Gabriel Galipolo, whose term starts in …

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Morning Bid: TSMC steadies chip ship, ECB set to ease

A look at the day ahead in U.S. and global markets from Mike Dolan Tech-heavy stock markets are set to breathe a sigh of relief on Thursday as the world’s largest chipmaker beat the street and eased gnawing doubts about semiconductor demand worldwide and jitters about the wider artificial intelligence theme. After a cloudy outlook …

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Yellen to warn sweeping tariffs would ignite inflation, NYT reports

(Reuters) – The economic policies being proposed by Republican presidential candidate Donald Trump would fuel inflation and harm businesses, U.S. Treasury Secretary Janet Yellen plans to warn in a speech, according to a report in the New York Times on Thursday. Yellen’s critique is set to be delivered in remarks to the Council on Foreign …

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Sydney beaches closed due to toxic ‘tar balls’

By Alasdair Pal and Jill Gralow SYDNEY (Reuters) -Beaches in Sydney including the iconic Bondi were closed to bathers on Thursday after hundreds of black balls suspected to be toxic washed up on the city’s shores. Waverley Council said it had closed Bondi, Bronte and Tamarama beaches as a precaution, while neighbouring Randwick Council has …

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US stealth bombers strike underground Houthi weapons sites in Yemen

(Reuters) -The United States said it carried out strikes on Wednesday against five underground weapons storage facilities in Houthi-controlled areas of Yemen, in a strike that used B-2 stealth bombers against the Iran-aligned group for the first time. In wording that could also be interpreted as a signal to Iran, U.S. Defense Secretary Lloyd Austin …

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Hungarian GDP growth will be close to zero in Q3, economy minister says

BUDAPEST (Reuters) – Hungarian gross domestic product growth will be “very close to zero” in the third quarter, significantly below market expectations, Economy Minister Marton Nagy said on Thursday. In power since 2010, Prime Minister Viktor Orban has struggled to revive Hungary’s economy after last year’s downturn following a surge in inflation to more than …

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