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Tag: ECON

Taxes can be key to social justice, pope tells business leaders
Business

Taxes can be key to social justice, pope tells business leaders

Pope Francis gestures during the meeting with the participants of the International Congress of Catechists at the Vatican, September 10, 2022. REUTERS/Remo CasilliRegister now for FREE unlimited access to Reuters.comRegisterVATICAN CITY, Sept 12 (Reuters) - Taxes are "an often misunderstood" tool of social justice and should not be seen as an example of a government overstepping its powers, Pope Francis told an audience of Italian business leaders on Monday.The Argentine-born pope spoke ahead of a general election on Sept. 25 in Italy, a country noted for endemic tax evasion, where a right-wing coalition promising major tax cuts is on course for a clear victory. read more "What taxes and duties are in the modern world and democracies is very important, [they are] an often misunderstood...
‘It felt like my insides were crying’: China COVID curbs hit youth mental health
Health

‘It felt like my insides were crying’: China COVID curbs hit youth mental health

HONG KONG, Aug 30 Reuters) - Zhang Meng had a breakdown last December. The 20-year-old found herself sobbing on the stairs of her dorm, driven to despair by repeated COVID lockdowns of her university campus in Beijing.The lockdowns had meant she was mostly confined to her room and unable to meet up with friends. There were also strict curbs on when she could visit the canteen or take a shower. Describing herself as someone who craves in-person social interaction, Zhang said the restrictions had "removed the safety net that was holding me up and I felt like my whole being was falling down".That month, she was diagnosed with major depression and anxiety.Register now for FREE unlimited access to Reuters.comRegisterYao, also 20 and who asked that his first name not be used, had his first br...
Ukraine war, energy crisis send German business sentiment to lowest level since June 2020
Business

Ukraine war, energy crisis send German business sentiment to lowest level since June 2020

The skyline with its financial district is photographed as the spread of the coronavirus disease (COVID-19) continues during an extended lockdown in Frankfurt, Germany, January 14, 2021. REUTERS/Kai Pfaffenbach/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterIndex falls for third month in a rowUkraine war, energy crisis weighs on business moraleIfo: Economy expected to shrink in Q3BERLIN, Aug 25 (Reuters) - German business morale in August fell to its lowest reading since June 2020 amid high uncertainty due to the Ukraine war, the resulting energy crisis and fears of an economic downturn in the third quarter, a survey said on Thursday.The Ifo institute's closely watched business climate index fell for a third consecutive month but less than expected to 88.5, from...
Rise in U.S. business equipment spending allays recession fears
Business

Rise in U.S. business equipment spending allays recession fears

Core capital goods orders increase 0.4% in JulyCore capital goods shipments rise 0.7%Durable goods orders unchangedPending home sales fall 1.0% in JulyWASHINGTON, Aug 24 (Reuters) - New orders for U.S.-manufactured capital goods increased in July, but the pace slowed from the prior month, suggesting a moderate rebound in business spending this quarter.The report from the Commerce Department on Wednesday also showed solid gains in shipments of these goods. While part of the rise was because businesses are spending more due to higher prices, the data was another sign that the economy continues to grow at a slow pace and was not in recession."The absence of a sustained decline in orders suggests that businesses are still investing despite tighter financial market conditions, a drop in sent...
Australia business activity booms in July, costs surge
Business

Australia business activity booms in July, costs surge

View of a construction site for a train station on the Sydney Metro, Australia July 22, 2021. REUTERS/Sam HolmesRegister now for FREE unlimited access to Reuters.comRegisterSYDNEY, Aug 9 (Reuters) - A measure of Australian business confidence rebounded in July as sales and profits held up surprisingly well in the face of rising interest rates and high inflation, though firms also reported record costs amid supply constraints.Tuesday's survey from National Australia Bank Ltd (NAB) (NAB.AX) showed its index of business conditions climbed 6 points to +20 in July, well above its long-run average.Its measure of confidence bounced 5 points to +7, reversing June's decline and leaving it just above the long-run average.Register now for FREE unlimited access to Reuters.comRegister"The strength i...