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World Bank gears up to launch debut debt-for-development swap, treasurer says

25 Oct 2024

By Karin Strohecker WASHINGTON (Reuters) – The World Bank will launch its first ever debt-for-development swap within weeks, its Vice President and Treasurer Jorge Familiar told Reuters, as the Washington-based lender expands its toolkit to help economies facing liquidity challenges. World Bank President Ajay Banga announced in the run-up to the IMF and World Bank …

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Colgate-Palmolive lifts lower end of 2024 results forecast on steady demand

25 Oct 2024

(Reuters) – Toothpaste maker Colgate-Palmolive raised the lower end of its annual sales and profit forecasts on Friday, after beating third-quarter estimates on resilient demand for its high-priced products. WHY IS IT IMPORTANT? Consumers have been prioritizing spending on daily essentials over discretionary items amid rising cost of living, fueling sales for consumer packaged goods …

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US money market funds see large inflows as election nears

25 Oct 2024

(Reuters) – U.S. money market funds attracted substantial inflows in the week to Oct. 23 as uncertainty over the U.S. presidential election and a reassessment of Federal Reserve rate outlook boosted demand for safer assets. According to LSEG data, investors acquired a net $29.98 billion worth of money market funds during the week, posting their …

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Morgan Stanley lowers climate target, warns on sluggish transition

25 Oct 2024

By Simon Jessop LONDON (Reuters) – Morgan Stanley has lowered its expectations for cutting emissions from its corporate lending portfolio as the world is moving too slowly to a greener economy, the bank’s chief sustainability officer told Reuters. A slowdown in electric vehicle sales, lagging adoption of biofuels in aviation and funding and policy hurdles …

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Southwest Airlines settles boardroom feud with activist investor Elliott

25 Oct 2024

By Rajesh Kumar Singh, Svea Herbst-Bayliss, Shivansh Tiwary (Reuters) -Southwest Airlines and its activist investor Elliott Investment Management ended a bitter months-long boardroom battle on Thursday in a deal that allows CEO Bob Jordan to retain his job by making bigger board-level concessions. The agreement came as the U.S. carrier reported a surprise third-quarter profit, …

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New Permian oil pipelines unlikely to be built, say top operators

25 Oct 2024

By Arathy Somasekhar HOUSTON (Reuters) -Top executives of two U.S. energy pipeline operators on Thursday ruled out building new crude oil lines to move volumes out of the Permian shale field in West Texas because of tepid volume growth and difficulties constructing new lines. A wave of consolidation in the top U.S. shale field has …

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Exxon Mobil, Qatar get 3-year extension to build their LNG plant in Texas

25 Oct 2024

HOUSTON (Reuters) -Federal regulators on Thursday gave an Exxon Mobil and Qatar Energy LNG joint venture a 3-year extension to finish building their Golden Pass LNG plant, a regulatory document showed. The extension was granted due to delays caused when lead construction contractor Zachry Holdings filed for bankruptcy in March, according to a Federal Energy …

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EU privacy regulator fines LinkedIn 310 million euro

25 Oct 2024

DUBLIN (Reuters) – The lead European Union privacy regulator on Thursday said it had imposed a 310 million euro ($335 million) fine on Microsoft’s professional networking platform LinkedIn over its targeted advertising practices. The Irish Data Protection Commissioner (DPC) is the European Union’s lead privacy regulator for most of the top U.S. internet firms due …

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Yum Brands takes out onions from meals after E.coli outbreak at McDonald’s

25 Oct 2024

(Reuters) -Yum Brands said on Thursday it would be removing fresh onions from its meals at certain Taco Bell, Pizza Hut and KFC restaurants out of an “abundance of caution”, following an E.coli outbreak tied to McDonald’s Quarter Pounder hamburgers. The E.coli outbreak has killed at least one person and sickened nearly 50 others across …

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