China factory inflation jumps as officials warn of risks

BEIJING (BLOOMBERG) – China’s producer prices climbed the most since July 2018 as commodity costs surged, a worrying sign for policy makers seeking stable inflation and adding to global risks. The producer price index rose 4.4 per cent in March from a year earlier after gaining 1.7 per cent in February, the National Bureau of Statistics said on Friday (April […]

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US offer on global tax deal would tie levies to revenue

NEW YORK (BLOOMBERG) – The US is proposing that countries should be able to tax more corporate profits based on revenues within their borders in a bid to reach a global taxation deal, according to two people familiar with the offer. The US sent a proposal to the nearly 140 countries participating the Organization for Economic Cooperation and Development’s talks […]

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Next victim of chip shortage will be your home internet router

TOKYO (BLOOMBERG) – Broadband providers are seeing delays of more than a year when ordering internet routers, becoming yet another victim of chip shortages choking global supply chains and adding challenges for millions still working from home. Carriers have been quoted order times as long as 60 weeks, more than doubling previous waits, according to people familiar with the matter, […]

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Why shortages of a US$1 chip sparked crisis in the global economy

SEOUL (BLOOMBERG) – To understand why the US$450 billion (S$603.6 billion) semiconductor industry has lurched into crisis, a helpful place to start is a US$1 part called a display driver. Hundreds of different kinds of chips make up the global silicon industry, with the flashiest ones from Qualcomm and Intel going for US$100 apiece to more than US$1,000. Those run […]

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MAS not expected to intervene given benign inflation forecasts

More than a year has passed since the onset of the Covid-19 pandemic. While we are now more optimistic that better days are ahead, the fight is not yet over. Much more needs to go right for us to be sure that we are entering the final stage of the battle to beat Covid-19. Traditionally, as we move into the […]

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MAS expected to stand pat on Singdollar policy amid growth risks from Covid-19

SINGAPORE (REUTERS) – Singapore’s central bank is expected to leave monetary policy on hold at its April review, economists said, as the trade and finance hub’s economic growth remains susceptible to risks from the Covid-19 pandemic that is still raging globally. All 15 economists in a Reuters poll expect the Monetary Authority of Singapore (MAS) to keep its exchange-rate based […]

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Euro zone bonds calm as investors await inflation data

* Euro zone periphery govt bond yields tmsnrt.rs/2ii2Bqr AMSTERDAM, March 31 (Reuters) – Euro zone bond yields calmed on Wednesday after a sell-off a day earlier as investors awaited inflation data for the region. German and Italian yields rose on Tuesday to their highest in nearly two weeks, driven by a sell-off in U.S. Treasuries as U.S. vaccinations picked up […]

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Treasury Secretary Yellen sees room for U.S. to borrow, opens door to tax hike

WASHINGTON — Treasury Secretary Janet Yellen believes the U.S. government has more room to borrow, but said higher taxes would likely be required in the long run to finance future spending increases. Yellen appeared Wednesday before the Senate Banking Committee with the Biden administration considering up to $3 trillion in additional spending on infrastructure, green energy, and education. That “Build […]

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