European Finance Ministers to Meet
Eurozone finance ministers are set to discuss how soon Greece receives its next disbursement of funds from the country’s latest international bailout at their monthly gathering on Monday in Luxembourg. No major decisions are expected at the meeting, the first of its kind since Greek voters returned Alexis Tsipras to power as prime minister last month. But it will be an opportunity for Greece’s finance minister, Euclid Tsakalotos, to reassure ministers that his country is carrying out the reforms required to continue tapping the bailout, worth up to 86 billion euros, or about $96.5 billion. On Tuesday, the ministers, joined by their counterparts from European Union countries outside the single-currency zone, will try to reach a political deal on a law forcing the bloc’s 28 member states to exchange information about preferential tax agreements like those granted by Luxembourg to Amazon, and by the Netherlands to Starbucks.
Greece to Unveil a Budget
Greece is to unveil its draft budget for 2016 on Monday, offering its
forecast for the country’s austerity-battered economy and setting out
tax increases and spending cuts promised to the country’s international
creditors. The blueprint is expected to be scrutinized in Luxembourg on
the same day by eurozone finance ministers. Later on Monday, Prime
Minister Alexis Tsipras is to present his policy program in Greece’s
Parliament. The Parliament has scheduled for Wednesday a vote of
confidence in Mr. Tsipras’s new government, which he is expected to
secure.
U.S. Trade Deficit for August
On Tuesday, the United States government will report the latest data on the nation’s trade balance in August. Wall Street is looking for the trade deficit to widen to $44 billion from $41.9 billion in July. The stronger dollar this year and slowing growth overseas are hurting exports, while making imported goods cheaper for domestic consumers. Some experts are looking for an even bigger gap in August than the consensus calls for. If they are right, it will cut further into estimates of economic growth for the second half of 2015.
Next Libor Rate Trial to Begin
A second criminal trial is expected to begin in London on Tuesday in an inquiry by British prosecutors into the manipulation of a global benchmark interest rate known as the London interbank offered rate, or Libor. Tom Hayes, a former trader at Citigroup and UBS, was convicted at a trial in August of conspiring to manipulate Libor and sentenced to 14 years in prison.
Microsoft Hardware Showcase
Microsoft, known as one of the world’s biggest software makers, now
makes so many hardware products that it is staging an event on Tuesday
to show them all off. The event in New York City will serve as a
showcase for all the Microsoft-made devices that will go on sale later
this year and run Windows 10, a just-released operating system that it
designed to run virtually any gadget. New Microsoft smartphones and
Surface tablets are sure to be among the devices on display. The company
may also share more details about HoloLens, above, an augmented reality
headset that it previously promised to release around the time Windows
10 went on sale.
This Content was originally posted on: THE NEW YORK TIMES
No comments:
Post a Comment