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ISTANBUL (Reuters) – Turkish annual inflation slid to 64.27% in December, official data showed on Tuesday, below forecast, dropping because of a favourable base effect after hitting a 24-year high in October. President Tayyip Erdogan’s unorthodox low interest-rate monetary policy and a resulting currency crisis pushed inflation to a peak of 85.5% in October before …

Turkey’s inflation drops to 64.27% in December due to base effect Read More »

The Russian rouble weakened on Tuesday against the dollar and euro in the first session of the year in Moscow amid light trading volumes during public holidays in Russia. At 0705 GMT the rouble slid by 0.4% to the dollar to trade at 70.18 on the Moscow Exchange. Against the euro, the rouble declined 0.6% …

Russian rouble slides in first trade of the year Read More »

By Naomi Rovnick, Alun John and Marc Jones (Reuters) – King Dollar’s reign (definitely) coming to an end, bonds bouncing and emerging markets rising again are just some of the trades international money managers are betting on in 2023. Sky-high inflation and the global gut-punch of nearly 300 central bank interest rate hikes over the …

Gloom and boom: Fund managers’ top picks for 2023 Read More »

By Supantha Mukherjee, Martin Coulter and Krystal Hu (Reuters) – Nic Szerman lost his job at Meta Platforms in November, just two months after joining full-time, falling victim to a sweeping 13% reduction of its workforce as the advertising market cratered. Days later he was back working, seeking investment for his own company Nulink, a …

Startups spring from ashes of Big Tech purge Read More »

By Akash Sriram and Baranjot Kaur NEW YORK (Reuters) -Tesla Inc on Monday reported record production and deliveries for fourth-quarter electric vehicles, but it missed Wall Street estimates, under the burden of logistics problems, slowing demand, rising interest rates and fears of recession. The world’s most valuable automaker delivered 405,278 vehicles in the last three …

Tesla reports record quarterly deliveries but misses estimates Read More »

PANAMA CITY (Reuters) – Panama’s president, Laurentino Cortizo, said on Monday the government has presented Canadian miner First Quantum Minerals a final contract to regulate operations. Cortizo, during a speech to the nation, vowed to abide by the constitution in the negotiations and to establish a “fair relationship” between the parties. The two sides are …

Panama president says final contract to miner First Quantum has been presented Read More »

BERLIN (Reuters) – Germany’s transport minister called for an expert committee to examine whether the lifespan of the country’s nuclear plants should be extended, reopening a row within Chancellor Olaf Scholz’s coalition. Germany’s rush to free itself from imported Russian fuels after Moscow’s invasion of Ukraine spurred calls for the country’s three remaining nuclear plants …

German minister reignites coalition row with call to review nuclear exit Read More »

By Steven Scheer and Ari Rabinovitch JERUSALEM (Reuters) -The Bank of Israel raised its benchmark interest rate by half a point on Monday, and will likely continue its increases a bit more in coming months, saying it seeks to curb inflation running above 5%. The central bank as expected lifted its key rate to a …

Bank of Israel raises key rate, seeks fiscal restraint from new govt Read More »

PARIS (Reuters) – Malteries Soufflet, a branch of French agribusiness group InVivo, said on Monday it had signed an agreement to take over Belgian malthouse Castle Malting, one of the oldest producers of the beer ingredient in the world. When InVivo announced the takeover of its peer Soufflet late 2021, it said it aimed to …

France’s InVivo to buy one of the world’s oldest malthouses in Belgium Read More »