Reuters US Business

By Michael S. Derby (Reuters) – Wall Street’s biggest banks told the Federal Reserve ahead of its November policy meeting that they had increased their estimation of how far the central bank would raise rates. The banks, called primary dealers, said the Fed would raise its overnight target rate to a peak of 4.875% by …

Ahead of November FOMC, big banks saw 4.875% peak Fed rate target Read More »

By Loucoumane Coulibaly ABIDJAN (Reuters) – Ivory Coast has completed construction of a second container terminal at its main port in Abidjan, paving the way for it to become a regional shipping hub, officials said late on Friday. Port authorities said the project cost about 596 billion CFA francs ($953 million) and was 85% financed …

Ivory Coast completes second shipping container terminal Read More »

By Mimosa Spencer PARIS (Reuters) – The abrupt departure from Gucci of Alessandro Michele, the flamboyant designer who was a favourite of Harry Styles and Lady Gaga, increases pressure on owner Kering as it faces slowing revenue growth at the Italian fashion house. News of the creative director’s exit after seven years comes as Kering …

Analysis-Out of fashion: Gucci faces daunting task to replace top designer Read More »

(Reuters) – New Zealand dairy giant Fonterra Co-operative Group Ltd said on Friday it would implement its new capital structure, intended to make it easier for new farmers to join the co-operative, in late March next year. The dairy firm’s farmer shareholders in December last year gave the go-ahead for the capital restructuring that aims …

NZ’s Fonterra plans to implement new capital structure by late March Read More »

ACCRA (Reuters) -Ghana’s government is working on a new policy to buy oil products with gold rather than U.S. dollar reserves, Vice-President Mahamudu Bawumia said on Facebook on Thursday. The move is meant to tackle dwindling foreign currency reserves coupled with demand for dollars by oil importers, which is weakening the local cedi and increasing …

Ghana plans to buy oil with gold instead of U.S. dollars Read More »

By Luis Jaime Acosta BOGOTA (Reuters) – The potential collapse of the low-cost Colombian airline Viva could lead to higher fares and the loss of connections to some cities, Avianca’s chief executive said Thursday. Avianca and Viva announced on Wednesday they had appealed to Colombia’s aviation regulator after it rejected their plan to merge, proposing …

Loss of Viva would have negative impact on Colombia’s airline industry -Avianca Read More »

By Dominique Vidalon PARIS (Reuters) – Remy Cointreau reported a stronger-than-expected 27.2% organic jump in first-half operating profit, driven by strong demand for its premium cognac in China and the United States and cost controls. For the full year of 2022/23, the maker of Remy Martin cognac and Cointreau liqueur reiterated it expected another year …

Remy Cointreau posts first-half profit above expectations, keeps outlook Read More »

MILAN (Reuters) -A buyout offer launched by the Benetton family and U.S. investment fund Blackstone for Italy’s Atlantia has reached the 90% threshold for the deal to proceed and trigger the company’s delisting, the bidders said on Thursday. The bid initially failed to reach the threshold but was then reopened for another five days and …

Atlantia set to be delisted as buyout bid reaches 90% threshold Read More »

MEXICO CITY (Reuters) -Tech giant Uber and delivery apps DiDi and Rappi have proposed offering social security benefits to workers in Mexico for the first time ahead of a new government bill set to regulate the gig economy. The companies said in a statement on Wednesday, co-signed by worker-rights activist groups, they were open to …

Uber, delivery apps propose offering Mexico drivers social security Read More »