A deduction for state and local taxes could double for certain taxpayers under a bill heading to the full House of Representatives, after being left out of a bigger package that cleared the chamber on Wednesday. The SALT Marriage Penalty Elimination Act, introduced by New York Rep. Mike Lawler and…

LONDON (Reuters) – Britain, which has had the strongest inflation among the world’s big rich economies for much of the past two years, could see its pace of price growth slow to below 2% before the United States and the euro zone, a consultancy said on Friday. Capital Economics said…

Wealthy Americans have been voting for White House hopefuls with their wallets, and the latest disclosures reveal their big contributions to the candidates’ main super PACs. These political action committees are allowed to take in unlimited amounts from individuals, corporations, labor unions and other PACs. Former President Donald Trump’s super…

SHANGHAI (Reuters) – China’s securities regulator will strengthen incentives for “countercyclical investment” and guide institutions to practice long-term investment, it said on Friday, seeking to boost the country’s faltering stock market. China’s stock benchmark is down 4.3% since the start of the year, hovering around close to five-year lows amid…

By Kantaro Komiya and Yuka Obayashi TOKYO (Reuters) -Nippon Steel said on Friday President Eiji Hashimoto will become CEO and chairman effective April 1, remaining at the helm as the top Japanese steelmaker aims to complete a deal to take over U.S. Steel. Executive Vice President Tadashi Imai and head…

Former President Donald Trump has promised to take another crack at repealing Obamacare if he gets voted back into office next year. But a push in 2025 to eliminate former President Barack Obama’s signature healthcare XLV law could flop for the same reason that Trump’s 2017 effort on that front…

(Reuters) -Attacks on vessels by Iranian-backed Houthi militants in Yemen have disrupted international commerce on the shortest shipping route between Europe and Asia. The attacks, targeting a route that accounts for about 15% of the world’s shipping traffic, have pushed several shipping companies to reroute their vessels. The U.S. and…

The chorus of Federal Reserve officials who say interest rates will remain higher for longer than investors believe is getting louder. The presidents of the Chicago and Cleveland regional Fed banks on Monday said Wall Street DJIA should not count on interest rates being reduced anytime soon. Cleveland Fed boss…

By David Lawder WASHINGTON (Reuters) – A U.S. federal government shutdown in coming weeks would likely disrupt the soon-to-start tax filing season for 2023 income, the head of the Internal Revenue Service said on Friday, even as the agency takes some steps to ensure that tax collections continue. “We have…

The president of the Richmond Federal Reserve said the central bank is making “good progress” in slowing inflation, but he was unwilling to commit to a specific timetable for cutting interest rates. “I think you have to acknowledge that the data has come in pretty nicely,” said Thomas Barkin said…