By Walter Bianchi and Horacio Soria BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate slowed to 4.9% in November, undershooting forecasts, a silver lining for the South American country’s embattled government even as it grapples with annual price rises heading toward 100% by the end of the year. The official INDEC statistics agency said on …
Argentina inflation cools more than expected in November Read More »
By Lucia Mutikani WASHINGTON (Reuters) -U.S. retail sales fell more than expected in November, but consumer spending remains supported by a tight labor market, with the number of Americans filing for unemployment benefits decreasing by the most in five months last week. The biggest decrease in retail sales in 11 months reported by the Commerce …
U.S. retail sales post biggest drop in 11 months; labor market tight Read More »
MANILA (Reuters) – The Philippine central bank on Thursday said it was backing the creation of a sovereign wealth fund being pushed by President Ferdinand Marcos Jr, after having earlier raised concerns about transparency over its governance. “Given that our concerns in the central bank have been completely addressed and the criticism of inclusion of …
Philippine central bank to back wealth fund after raising transparency concerns Read More »
By Chuck Mikolajczak NEW YORK (Reuters) -U.S. stocks closed lower in volatile trading on Wednesday following a policy announcement by the Federal Reserve that raised interest rates by an expected 50 basis points, but its economic projections see higher rates for a longer period. The central bank raised interest rates by half a percentage point …
Wall Street ends lower after latest Fed rate hike Read More »
NEW YORK (Reuters) – The Federal Reserve raised interest rates by half a percentage point on Wednesday and projected at least an additional 75 basis points of increases in borrowing costs by the end of 2023 as well as a rise in unemployment and a near stalling of economic growth. The Fed’s latest quarterly summary …
Fed hikes rates by 50 bp, as expected, keeps hawkish tone Read More »
(Reuters) – Moscow is working with Venezuela on its possible adoption of Russia’s Mir card payment system, Tass news agency cited Deputy Prime Minister Alexander Novak as saying on Wednesday. Novak is visiting Venezuela this week. The Mir card is accepted in Cuba, South Korea, Turkey, Vietnam and a handful of former Soviet republics. (Reporting …
Russia working with Venezuela on possible adoption of card payment system -Tass Read More »
By Chris Prentice and Moira Warburton NEW YORK/WASHINGTON (Reuters) -U.S. senators on Wednesday pressed Congress to regulate cryptocurrency under existing financial rules, as lawmakers scramble to rein in the troubled industry after prosecutors filed criminal charges against FTX founder Samuel Bankman-Fried. Lawmakers are generally in agreement that crypto firms should have greater regulation, but there …
U.S. lawmakers scramble to regulate crypto in wake of FTX turmoil Read More »
By Daniel Wiessner (Reuters) – The agency that enforces U.S. labor laws on Wednesday made it easier for unions to organize small groups of a company’s workforce, which could give them a key advantage in campaigns to unionize factories, warehouses, universities and other sprawling workplaces. The Democrat-led National Labor Relations Board in a 3-2 decision …
Key union organizing tactic backed by U.S. labor board Read More »
By Divya Rajagopal TORONTO (Reuters) – As the legal fight between Canada’s competition bureau, Rogers Communications Inc and Shaw Communications Inc draws to a close on Wednesday, anxious investors will be hoping for a quick verdict to a 20-month old M&A battle. Rogers’ C$20 billion ($14.8 billion) agreed bid for Shaw to create Canada’s No. …
As Rogers-Shaw court battle wraps up, investors hope for early verdict Read More »
By Divya Rajagopal and Steve Scherer TORONTO (Reuters) – Canadian financial dealmakers are raising the alarm about Ottawa’s proposal to more closely scrutinize national security implications of foreign acquisitions of Canadian companies, warning that such interventions could deter foreign investments and slow impending deals in critical sectors. Last week, Canada announced its biggest overhaul in …
Canada’s new foreign investment scrutiny a risk for M&A in key sectors Read More »
