Reuters US Business

Return of US drought delays cattle-herd rebuilding, hurting Tyson Foods

11 Nov 2024

By Julie Ingwersen and Heather Schlitz CHICAGO (Reuters) – The return of drought in U.S. cattle-producing areas is delaying ranchers’ plans to expand production after the nation’s herd shrank to its smallest level in seven decades, farmers and analysts said. Tight cattle supplies are squeezing meatpackers, including Tyson Foods, which reports quarterly earnings on Tuesday, …

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Moncler repeats it won’t comment on ‘unsubstantiated rumors’ about Burberry

11 Nov 2024

MILAN (Reuters) – Italy’s Moncler on Monday reiterated it would not comment “on unsubstantiated rumors”, when asked about a Daily Mail report about a possible takeover by the luxury outerwear maker for British luxury brand Burberry. Shares in Burberry rose 3% in early trade after the Daily Mail reported that the British label was close …

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Australia nears deal with ANZ to stop bank closures in the Pacific

11 Nov 2024

By Lewis Jackson SYDNEY (Reuters) – Australia is in the final stages of talks with ANZ Group over a deal to maintain the bank’s branches across the Pacific, Treasurer Jim Chalmers said on Monday, a diplomatic win in a region contested with China. Many Pacific Island countries are losing access to banks and international payments …

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Analysis-RBNZ’s unusually long summer break argues for extra insurance on rates

11 Nov 2024

By Stella Qiu (Reuters) – New Zealand’s central bank will be under greater pressure to ease policy aggressively this month as its rate meeting calendar leaves an unusually long three-month gap until its next gathering, arguing for extra insurance against an economic slump. That is partly why markets and analysts have fully priced in another …

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Chevron starts to redeploy personnel at Gulf of Mexico platforms

11 Nov 2024

(Reuters) – Chevron Corp has started redeploying personnel and restoring production at its Gulf Of Mexico platforms that were closed for Hurricane Rafael, the company said on Sunday. Chevron operates six platforms in the Gulf of Mexico – Anchor, Blind Faith, Jack/St. Malo, Tahiti, Petronius, and Big Foot. Rafael has degenerated to a post-tropical remnant …

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Make new friends and boost hiring: How China’s chip industry plans to deal with Trump

11 Nov 2024

By Eduardo Baptista and Fanny Potkin BEIJING/SINGAPORE (Reuters) -China’s semiconductor industry is readying itself for four more combative years under Donald Trump as U.S. president by ramping up purchases of foreign chipmaking equipment and looking out for opportunities to hire overseas talent and forge new alliances. Among the strategies being considered are the pursuit of …

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China consumer prices rise at slowest pace in 4 months, despite stimulus

11 Nov 2024

BEIJING (Reuters) -China’s consumer prices rose at the slowest pace in four months in October while producer price deflation deepened, data showed on Saturday, even as Beijing doubled down on stimulus to support the sputtering economy. In its latest stimulus measures, the country’s top legislative body approved a 10 trillion yuan ($1.4 trillion) package on …

China consumer prices rise at slowest pace in 4 months, despite stimulus Read More »

Fed’s Kashkari says broad-based US deportations could disrupt labor for some businesses

10 Nov 2024

WASHINGTON (Reuters) -Widespread deportation of foreign-born workers from the United States probably would disrupt some businesses, but the impact on inflation and the broad economy would depend on the details, Minneapolis Federal Reserve President Neel Kashkari said on Sunday. Kashkari, appearing on the CBS program “Face the Nation,” offered his views on the economic impact …

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