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U.S. House panel chairman gives IRS April 23 deadline on Trump taxes

U.S. congressional Democrats on Saturday headed for a showdown with the Internal Revenue Service over President Donald Trump's tax returns, setting a new hard deadline of April 23 for the federal tax agency to hand the documents over to lawmakers. In an April 13 letter that appeared to move Democrats closer to a federal court... Continue Reading →

India says no link between Reliance tax relief in France and jet deal

India on Saturday said a French media report linking a tax exemption given to a French subsidiary of India's Reliance Group and an $8.7 billion fighter jet deal between the two countries was "totally inaccurate." French newspaper Le Monde reported on Saturday that France waived a tax demand of 143.7 million euros on a French... Continue Reading →

Auto giants battle used car dealers for Africa’s huge market

At the edge of Nairobi's Ngong Forest, thousands of used cars glitter in the hot sun on a dusty field, waiting for buyers. Imported from Japan or the Middle East, they offer an affordable route to vehicle ownership in Kenya and have dominated the market for decades. That is an obstacle big carmakers must overcome... Continue Reading →

Euro zone budget likely to play stabilising role – Moscovici

A future euro zone budget will soon have to take on the task of cushioning economic shocks despite current resistance from countries in northern Europe, a top European Union official said on Saturday. European Commissioner for Economic and Financial Affairs Pierre Moscovici said the setting up of the limited "budgetary instrument for convergence and competitiveness... Continue Reading →

Four EU countries to take rescued migrants after Med standoff

Four European Union countries have agreed to take in 64 African migrants rescued by the German ship Alan Kurdi and stranded at sea for almost two weeks, the Maltese government announced on Saturday. The ship, operated by the humanitarian organisation Sea-Eye, had been refused entry by Italy and Malta, but two migrants were evacuated to... Continue Reading →

Wells Fargo’s revenue outlook spooks investors

Wells Fargo & Co shares fell as much as 3 percent on Friday after the bank dialled back its net interest income outlook for this year and reported a decline in total quarterly revenue. The Federal Reserve has signalled it is unlikely to raise interest rates in 2019 given risks to the U.S. economy from... Continue Reading →

Germany’s Scholz: Protectionism is not the answer

The rules-based order of multilateralism is increasingly under threat and leaders must uphold international cooperation, German Finance Minister Olaf Scholz said in Washington on Friday, calling on the United States to overcome trade differences with Europe. U.S. President Donald Trump's threat this week to impose tariffs on $11 billion (£8.4 billion) worth of European Union... Continue Reading →

Bashir ouster rekindles interest in long-defaulted Sudan loans

In the hazy world of distressed debt trading, the fall of Sudan's autocratic ruler of 30 years, Omar al-Bashir, has sparked fresh interest among traders and holders of the country's long-defaulted debt. Following weeks of demonstrations kindled by soaring food costs, high unemployment and increasing repression, 75-year-old Bashir was overthrown on Thursday by the military,... Continue Reading →

With Bouteflika gone, protesters in Algeria demand more change

Hundreds of thousands of protesters demanding the departure of Algeria's ruling elite rallied in the North African nation's capital on Friday and police reported nearly 200 arrests after clashes that left more than 80 officers injured. Police in anti-riot gear fired tear gas to disperse a crowd of several hundred youths in the city centre,... Continue Reading →

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