Turkish President Tayyip Erdogan said on Wednesday that an opposition political campaign inquiring over the sale of some $128 billion in the central bank's foreign reserves was "outright treason against the people of Turkey."
* Graphic: World FX rates http://tmsnrt.rs/2egbfVh. * Graphic: Trade-weighted sterling since Brexit vote http://tmsnrt.rs/2hwV9Hv. By Julien Ponthus. Sterling held its ground against the dollar on Wednesday as traders assumed a rise in inflation in March would have little impact on monetary policy and waited for crucial activity and retail sales data due at the end of the week.
JOHANNESBURG--South Africa's consumer price inflation inched up to 3.2% in March from 2.9% in February, Statistics South Africa said Wednesday, rising into the central bank's target range of between 3% and 6% annual inflation after an eight-month low. The increase was largely driven by higher food prices and rising transport costs. Food and beverage prices were up 5.7% compared to last year, while transport costs were up 3.8%.
British inflation picked up in March as global oil prices rose and COVID-driven discounts on clothing were lifted, it is expected to carry on climbing as the economy re-opens from lockdown. Consumer price inflation rose to 0.7% in March from 0.4% in February, just below the average forecast of 0.8% in a Reuters poll of economists, according to official figures published on Wednesday.
Foxconn is scaling back plans for a liquid-crystal-display plant in Wisconsin, saying it expects to invest a fraction of the $10 billion promised nearly four years ago, according to a new contract with the state. The electronics maker, formally known as Hon Hai Precision Industry Co., negotiated a new economic-development deal on Tuesday with the state of Wisconsin that was a shadow of the record-setting incentives package announced in the summer of 2017..
WASHINGTON-- President Biden told a group of lawmakers that he intends to propose a temporary extension of an enhanced child tax credit, rebuffing requests from some Democrats who favor making the new benefit permanent. As part of a $1.9 trillion Covid-19 relief package Democrats passed earlier this year, Congress raised the child tax credit to $3,000 from $2,000, setting it at $3,600 for parents of children under age 6 and making parents of 17- year-olds eligible.
Brazil's federal tax revenue hit a record high for the month of March, the revenue service said on Tuesday, another bumper month that suggests the economy may be withstanding the deadly second wave of the COVID-19 pandemic better than many had predicted.
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