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currencies Economy Russian officials tax cuts Top News U.S. 

Dollar languishes near 13-month low as focus turns to Fed meeting

July 25, 2017 By Masayuki Kitano SINGAPORE (Reuters) – The dollar languished near a 13-month low against a basket of currencies on Tuesday, with traders skeptical that this week’s U.S. Federal Reserve meeting would do much to alter the greenback’s recent weak trend. The Fed is widely expected to keep interest rates unchanged at its two-day meeting that ends on Wednesday. The focus will be on any hints on whether it may raise rates again this year, and when it will begin paring its bond holdings. Given the recent weakness…

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Economy reform tax cuts Thomson Reuters Datastream Top News U.S. 

Small-cap rally could shrink on earnings, tax reform hurdles

July 21, 2017 By Caroline Valetkevitch NEW YORK (Reuters) – Optimism is souring around small-cap stocks for some investors, with a host of factors conspiring to up-end gains that have taken them to record highs. Small-caps, which led the market’s rally just after the Nov. 8 election of Donald Trump as U.S. president, are facing weak earnings forecasts, little progress on tax reform and recent outflows. “We have downside risk here. Earnings numbers aren’t great, and valuations are … pretty rich,” said Steven DeSanctis, equity strategist at Jefferies. Investors had…

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border Business reform tax cuts U.S. 

Corporate tax reform negotiators aim above Trump’s 15 percent pledge

July 17, 2017 By David Morgan WASHINGTON (Reuters) – President Donald Trump campaigned on cutting the U.S. corporate tax rate to 15 percent, but administration officials said on Monday negotiators engaged in closed-door talks are now shooting for a little over 20 percent because they realize the super-low rate would balloon the federal deficit. Republican leaders in the House of Representatives and the Senate are unlikely to allow the budget deficit to grow, so officials said they now hope for a corporate tax at the low end of a 20…

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ACA government Money tax cuts taxes Top News 

How Republican reform would weaken Medicare

July 13, 2017 By Mark Miller CHICAGO (Reuters) – (The opinions expressed here are those of the author, a columnist for Reuters.) The Republican proposals to repeal and replace the U.S. Affordable Care Act (ACA) would be a disaster for older Americans not yet on Medicare – but they also endanger Medicare itself. The Better Care Reconciliation Act (BCRA) under consideration in the U.S. Senate would mean higher premiums and reduced cost-sharing subsidies for lower-income older people. The Congressional Budget Office (CBO) has estimated, for example, that under this bill…

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Economy government President Emmanuel Macron tax cuts taxes Top News 

French state to make 4.5 billion euros in savings this year: paper

July 10, 2017 PARIS (Reuters) – French government ministries will tighten their belts to find 4.5 billion euros ($5.13 billion) in savings on their operational budgets this year, Budget Minister Gerald Darmanin told Le Parisien newspaper. The interior and defense ministries will bear the brunt of the cuts, in steps meant to allow France to post a deficit below 3 percent of growth domestic product, honoring an EU-agreed limit for the first time in a decade. “We have identified 4.5 billion euros in savings to bring the deficit below 3…

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Economy government Polling President Donald Trump tax cuts Top News 

Outlook for Asian currencies brightens as Trump trade fades: Reuters poll

July 7, 2017 By Vivek Mishra and Indradip Ghosh BENGALURU (Reuters) – The outlook for emerging Asian currencies has brightened compared to the beginning of the year, driven largely by a weaker dollar on fading expectations for major U.S. tax cuts any time soon, a Reuters poll found. Most Asian currencies have got the better of the dollar which has taken a beating on growing concerns over the U.S. administration’s inability to deliver on promises made. The Chinese yuan, a major focal point for global markets in the past few…

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Investment Company Institute Money spending tax cuts Top News U.S. 

Investors continue streak of moving away from U.S. equity funds

July 5, 2017 By David Randall NEW YORK (Reuters) – U.S. investors took $4.38 billion out of mutual funds and exchange-traded funds that focus on domestic equities in the week that ended June 28, the second straight week of outflows as U.S. stock indices remained near record highs, Investment Company Institute data showed on Wednesday. At the same time, investors moved $6.74 billion into international equity funds, a slight decline from the $8.56 billion invested in the category the week before. U.S. bond funds took in $5.38 billion, continuing an…

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Beijing Business China Economy tax cuts Top News 

As credit dries up, China’s small firms face shrinking profits, bankruptcies

June 29, 2017 By Yawen Chen and Thomas Peter TIANJIN, China (Reuters) – The struggles of China’s small and medium-sized firms have grown so acute that many are expected to become unprofitable or even go belly-up this year, boding ill for an economy running short on strong growth drivers. The companies – which account for over 60 percent of China’s $11 trillion gross domestic product – have entered the most challenging funding environment in years as Beijing cracks down on easy credit to contain a dangerous debt build-up. Many of…

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BCRA increase Money spending tax cuts Top News 

Senate health bill would decimate long-term care coverage

June 29, 2017 By Mark Miller CHICAGO (Reuters) – When Americans think about retirement planning, long-term care usually is a major blind spot – few of us want to contemplate the possibility of infirmity and dependency in old age. But we would do well to think about it now, as the Senate Republicans take a holiday weekend pause in their push to dismantle the Affordable Care Act. Roughly half of Americans now turning 65 will require some level of long-term care during retirement. And when professional care is required, it…

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attack bank bill Business tax cuts 

Wall St. higher as banks rise; ECB comment reassessed

June 28, 2017 (Reuters) – Wall Street opened higher on Wednesday as financial stocks rose and after a report that investors overreacted to ECB chief Mario Draghi’s view on fiscal stimulus. The Dow Jones Industrial Average rose 111.82 points, or 0.52 percent, to 21,422.48. The S&P 500 gained 12.46 points, or 0.51 percent, to 2,431.84. The Nasdaq Composite added 21.90 points, or 0.36 percent, to 6,168.53. (Reporting by Tanya Agrawal; Editing by Arun Koyyur) Powered by WPeMatico

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