(Reuters) – LendingClub (NYSE:) is cutting 172 jobs, or 14% of its workforce, the financial services company said on Thursday, as it looks to reduce costs amid continued macroeconomic uncertainty. The Federal Reserve’s aggressive rate hikes to rope in sticky inflation has increased the potential for an economic slowdown, forcing…

By Jorge Otaola BUENOS AIRES (Reuters) -Argentina’s central bank raised the country’s benchmark interest rate to 133% from 118% on Thursday as inflation data came in worse than forecast, 10 days before voters go to the polls to choose a new president amid a deepening economic crisis. The hike came…

SYDNEY (Reuters) -The Australian government said on Wednesday it planned to introduce laws that would empower the central bank to regulate digital wallet providers including Apple (NASDAQ:) Pay and Alphabet (NASDAQ:)’s Google Pay. Apple Pay, Google Pay and China’s WeChat Pay, which have grown rapidly in recent years, are not…

By Alexandra Alper and Karen Freifeld (Reuters) – The Biden administration is considering closing a loophole that gives Chinese companies access to American artificial intelligence (AI) chips through units located overseas, according to four people familiar with the matter. The United States last year shook relations with Beijing when it…

By Xinghui Kok SINGAPORE (Reuters) -Singapore’s central bank on Friday kept monetary settings unchanged as inflation in the city-state moderated and economic growth beat expectations. In a move that surprised economists, the Monetary Authority of Singapore (MAS) said it would shift to a quarterly schedule of policy statements in 2024…

BEIJING (Reuters) – China’s consumer prices faltered and factory-gate prices shrank slightly faster than expected in September, with both indicators showing persistent deflationary pressures in the world’s second-largest economy. The consumer price index (CPI) was unchanged in September from a year earlier, data by the National Bureau of Statistics (NBS)…

The numbers: The U.S. import price index rose 0.1% in September, the Labor Department said Friday. This is the third straight increase. The rise was much less than expected. Economists surveyed by the Wall Street Journal were expecting a 0.5% gain. Excluding fuel, import prices were down 0.2% for the…

By Jonathan Landay WASHINGTON (Reuters) – The United States must prepare for possible simultaneous wars with Russia and China by expanding its conventional forces, strengthening alliances and enhancing its nuclear weapons modernization program, a congressionally appointed bipartisan panel said on Thursday. The report from the Strategic Posture Commission comes amid…

The numbers:  The University of Michigan’s gauge of consumer sentiment fell to a preliminary October reading of 63 from 68.1 in the prior month. It is the lowest level since May. Economists polled by the Wall Street Journal had expected an October reading of 67.4. Another key part of the…

(Reuters) – China is considering creating a state-backed stabilization fund to shore up confidence in its equity markets, Bloomberg News reported on Thursday. Financial regulators, including the China Securities Regulatory Commission (CSRC), recently submitted a preliminary plan to the country’s top leadership after at least two rounds of consultation with…