By Uditha Jayasinghe COLOMBO (Reuters) – Sri Lanka increased fuel prices on Tuesday, a long-flagged move to mend public finances and combat its debilitating economic crisis, but the hikes are bound to add to galloping inflation at least in the short term. Power and Energy Minister Kanchana Wijesekera said in a message on Twitter that …
Sri Lanka increases fuel prices to address economic crisis Read More »
SAO PAULO (Reuters) – Brazilian insurer SulAmerica Seguros SA said on Monday the hospital chain Rede D’Or and its controlling shareholders have reached a 12% stake in the company. Rede D’Or is set to acquire SulAmerica Seguros in a 13 billion-real ($2.70 billion) deal combining Brazil’s largest hospital network with one of the country’s major …
Brazil’s Rede D’Or reaches 12% stake in insurer SulAmerica Read More »
CHICAGO (Reuters) – Spirit Airlines Chief Executive Ted Christie said on Monday it is unlikely that the company’s shareholders would vote against its proposed merger with Frontier Group Holdings Inc. Christie, however, said the ultra-low-cost carrier intends to remain a stand-alone entity if shareholders reject the deal. (Reporting by Rajesh Kumar Singh; Editing by Leslie …
Spirit Airlines says its shareholders unlikely to vote against Frontier deal Read More »
SEOUL (Reuters) – A key measure of inflation expectations among South Koreans rose in May for a fourth consecutive month to its highest in nearly a decade, a central bank survey found on Tuesday, two days ahead of its policy meeting. South Koreans expect consumer inflation to average a median 3.3% over the next 12 …
South Korean inflation expectations at near decade high – survey Read More »
By Uditha Jayasinghe and Jorgelina do Rosario COLOMBO/LONDON (Reuters) – Sri Lanka has hired heavyweight financial and legal advisers Lazard and Clifford Chance as it prepares for the difficult task of renegotiating its debts, a trio of sources told Reuters on Monday. The move is the latest development in Sri Lanka’s worst economic crisis since …
By Tatiana Bautzer SAO PAULO (Reuters) – Brazilian lubricant distributor Moove, owned by Cosan SA, has agreed to buy the largest U.S. lubricant distributor, PetroChoice Lubricants, for $479 million, the company said in a securities filing published Monday. The acquisition will boost Moove’s annual revenue by 50%, to around 9 billion reais ($1.87 billion), Chief …
Brazil’s Cosan subsidiary Moove acquires U.S. PetroChoice Lubrication for $479 million Read More »
By Herbert Lash and Marc Jones NEW YORK/LONDON (Reuters) -U.S. and European stocks rallied on Monday, with the S&P 500 for the moment moving away from a bear market, while the euro leapt after the European Central Bank said it was likely to lift its deposit rate out of negative territory by September. Oil prices …
SAO PAULO (Reuters) -The Brazilian Air Force has decided to cut its order for Embraer SA’s KB-390 military cargo planes to 15 aircraft from 22 previously, according to a report from local newspaper O Globo on Monday. Lieutenant-Brigadier General Carlos de Almeida Baptista Junior said the Air Force will further reduce its order due to …
Brazil’s Air Force to cut Embraer order to 15 aircraft -report Read More »
By Sinéad Carew NEW YORK (Reuters) – The dollar index fell on Monday while the euro rallied after the European Central Bank indicated a move from negative interest rates, and riskier currencies gained ground along with equities. ECB President Christine Lagarde said in a blog post that the bank was likely to lift the euro …
Euro climbs as ECB eyes rate hikes, dollar slides Read More »
By Arathy Somasekhar HOUSTON (Reuters) -Oil prices were little changed on Monday, settling just slightly higher as worries over a possible recession vied with an outlook for higher fuel demand with the upcoming U.S. summer driving season and Shanghai’s plans to reopen after a two-month coronavirus lockdown. U.S. West Texas Intermediate (WTI) crude settled up …
Oil settles nearly flat; recession worry vies with higher demand outlook Read More »
