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US economy beats growth expectations in second quarter
US economy beats growth expectations in second quarter
Business and Economy
by  AFP

US economic growth blew past expectations in the second quarter, boosted by consumer spending and inventory building despite high interest rates, government data showed Thursday, after a slow start to the year. The acceleration "primarily reflected an upturn in private inventory investment and an acceleration in consumer spending," said the Commerce Department.

In Rio, G20 finance ministers to mull taxing the super-rich
In Rio, G20 finance ministers to mull taxing the super-rich
Business and Economy
by  AFP

Faced with growing global inequality, G20 finance ministers meeting Thursday in Rio de Janeiro will tackle the thorny issue of taxes for the super-rich, a topic that has divided member states. The organization was originally focused on global economic issues but has increasingly taken on other pressing challenges -- even though member states do not always agree on what should be on the agenda.