NEWS1

US consumer spending ends 2022 on weaker footing; slow inflation

Consumer spending falls 0.2% in December Personal income increases 0.2%; savings rate rises to 3.4% Core PCE price index gains 0.3%; up 4.4% year-on-year WASHINGTON, Jan 27 (Reuters) – US consumer spending fell for a second straight month in December, putting the economy on a lower growth path heading into 2023, while inflation continued to …

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US says it ‘hacked the hackers’ to bring down ransomware gang, helping 300 victims

WASHINGTON, Jan 26 (Reuters) – The FBI revealed on Thursday it had secretly hacked and disrupted a prolific ransomware gang called Hive, a maneuver that allowed the bureau to thwart the group from collecting more than $130 million in ransomware demands from more than 300 victims . At a news conference, US Attorney General Merrick …

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Heavy snow causes havoc in Japan as cold snap sweeps through Asia

TOKYO, Jan 25 (Reuters) – Heavy snow blanketed wide swathes of Japan on Wednesday, snarling traffic, forcing hundreds of flight cancellations, disrupting train travel and leaving at least one person dead. An unusually cold weather front and extreme low pressure systems set snow falling and strong winds blowing across Japan from Tuesday after causing havoc …

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Wall St climbs on soft landing hopes, Tesla boost

US economy posts strong Q4 growth Weekly jobless claims fall IBM warns of softening growth in businesses Chevron to bump up share buybacks Indexes up: Nasdaq 1.16%, S&P 0.54%, Dow 0.17% Jan 26 (Reuters) – US stock indexes rose on Thursday after data showing a resilient labor market and better-than-expected economic growth last quarter helped …

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Strong US economic growth expected in fourth quarter, outlook darkening

Fourth-quarter GDP forecast to increase at a 2.6% rate Strong consumer spending seen; other sectors to contribute Weekly jobless claims expected to rise moderately WASHINGTON, Jan 26 (Reuters) – The US economy likely maintained a strong pace of growth in the fourth quarter as consumers boosted spending on goods, but momentum appears to have slowed …

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Indian university warns students not to screen BBC documentary on Modi

NEW DELHI, Jan 24 (Reuters) – A top Indian university has threatened strict disciplinary action if its students’ union carries out plans on Tuesday to screen a BBC documentary on Prime Minister Narendra Modi, saying the move might disturb peace and harmony on campus. Modi’s government has dismissed the documentary, which questioned his leadership during …

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Venezuela’s inflation slows to 234% in 2022, vice president says

CARACAS, Jan 23 (Reuters) – Inflation in Venezuela hit 234% in 2022, Vice President Delcy Rodriguez said on Monday, representing a slowdown from the previous year, as the South American country struggles with a deep and lengthy economic crisis. Rodriguez provided the inflation rate during a meeting with Turkish and Venezuelan business leaders. Venezuela’s central …

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Japan finmin warns of severe finances as BOJ struggles to contain yields

Japan’s finances intensified severity to unprecedented point Rounds of extra budget, stimulus measures aggravate finances Public finance is the cornerstone of a country’s trust -Finmin Economic revival comes first before fiscal reform in long run Parliament debate begins, all eyes on new BOJ governor nominee TOKYO, Jan 23 (Reuters) – Japan’s finances are becoming increasingly …

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