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By Maha El Dahan DAVOS, Switzerland (Reuters) -The head of the International Energy Agency (IEA) said on Tuesday that new legislation by the United States aimed at combating domestic inflation was the most important climate agreement since the Paris Accord. IEA executive director Fatih Birol, speaking at a panel on energy security at the World …

Davos 2023: U.S. Inflation Reduction Act hailed as a game changer for climate Read More »

By Lucy Craymer WELLINGTON (Reuters) – New Zealand’s business confidence in the fourth quarter of last year hit its lowest level since 1974 as companies grapple with higher interest rates, cost pressures and soft demand, a private think tank said on Tuesday. A net 70% of firms surveyed expected general business conditions to deteriorate compared …

New Zealand business confidence at lowest since 1974 Read More »

By Tatiana Bautzer and Gabriel Araujo SAO PAULO (Reuters) – Brazilian lenders BTG Pactual, Bradesco and Santander Brasil are among those most exposed to debt of Americanas SA, analysts’ estimates showed on Monday, after the troubled retailer obtained an injunction protecting it from creditors. Analysts at JPMorgan and Citi said in research notes that Banco …

BTG, Bradesco among most exposed to troubled Brazilian retailer Americanas Read More »

By Mark John (Reuters) – Barely two in five people believe their families will be better off in the future, according to a regular global survey that also identified growing levels of distrust in institutions among low-income households. The Edelman Trust Barometer, which for over two decades has polled the attitudes of thousands of people, …

Household wealth optimism collapses, global survey shows Read More »

By Steve Scherer OTTAWA (Reuters) -The Bank of Canada said on Monday it has appointed a professor of applied economics at HEC Montreal to be a non-executive deputy governor and the sixth member of its policy-setting governing council for a two-year term, starting in March. Nicolas Vincent was named to take on its fourth deputy …

Bank of Canada names economics professor to governing council Read More »

By Darya Korsunskaya (Reuters) – Russia’s attempts to plug its budget deficit by selling foreign currency reserves could lead to a vicious circle that pushes the rouble higher and further reduces the Kremlin’s crucial export revenues, analysts say. Russia’s finance ministry and central bank said last week they would restart interventions in foreign exchange markets …

Analysis-Russia’s falling oil revenues could create vicious circle for budget, rouble Read More »

By Victoria Waldersee and Jan Schwartz BERLIN (Reuters) -Volkswagen wants to expand both its higher-end and lower-end offering in the Chinese market, China chief Ralf Brandstaetter said on Monday, calling the country’s high-paced, competitive market a “giant fitness centre for the industry”. Volkswagen has long dominated the combustion engine car market in China, but lags …

Volkswagen relishes competition in Chinese EV market Read More »

TOKYO (Reuters) – Bank of Japan (BOJ) Governor Haruhiko Kuroda will travel to Davos and attend a panel at the annual World Economic Forum meeting on Friday, the central bank said on Monday. Kuroda will depart on Wednesday, when the BOJ concludes its two-day policy meeting that begins on Tuesday, and return to Japan on …

Kuroda to attend Davos, depart shortly after closely-watched BOJ meeting Read More »

TOKYO (Reuters) – Toyota Motor Corp on Monday said it expects to produce as many as 10.6 million vehicles this year, while warning of downward risk to its projection if it faces an impact from parts supply shortages. The car giant said that it set a baseline production volume with a downward risk fluctuation range …

Toyota says to produce 10.6 million vehicles in 2023 Read More »

ASTANA (Reuters) – Vkusno & tochka, the Russian successor brand to McDonald’s, has applied to have its trademarks registered in neighbouring Kazakhstan following the U.S. company’s exit from its market, the Kazakh government said on Monday. McDonald’s and its Kazakh licensee terminated their agreement this month, citing supply issues. Sources earlier told Reuters McDonald’s Kazakhstan …

Russia’s McDonald’s successor applies for trademark in Kazakhstan Read More »