Reuters US Business

(Reuters) -National Bank of Canada and Canadian Imperial Bank of Commerce (CIBC) have dropped out as bidders for HSBC Holdings PLC’s business in Canada, while Bank of Montreal is still pursuing the deal, according to a report in The Globe and Mail newspaper. HSBC disclosed on Oct. 4 that it was considering selling HSBC Bank …

HSBC’s Canada unit loses National Bank, CIBC as bidders, Global and Mail reports Read More »

(Reuters) – Bank of Canada Governor Tiff Macklem was quoted in a published report on Sunday saying that he feels no threat to the institution’s independence, even as it comes under intense scrutiny from politicians, economists and even the general public. The Bank of Canada (BoC) has hiked interest rates by 350-basis points in just …

BoC’s Macklem: No threat to independence of Canada’s central bank – report Read More »

By Nell Mackenzie (Reuters) – Senate Republicans want the SEC to explain why staff are leaving the nation’s corporate watchdog at the highest rate in 10 years amid a flurry of proposed rules, according to a letter seen by Reuters on Sunday. The private letter dated Oct. 27 from Senate Republicans to the chair of …

Senate Republicans want the SEC to explain why staff are quitting Read More »

By Julie Gordon and Rod Nickel OTTAWA/WINNIPEG, Manitoba (Reuters) – At a warehouse on an industrial stretch in Ottawa, giant metal crates of donated groceries are piled high as volunteers sort canned goods, pasta and other foods to be distributed to pantries around the Canadian city. Demand has surged 33% at the Ottawa Food Bank …

‘Perfect storm’ swirls as Canadians face hot inflation, rising rates Read More »

By David Shepardson (Reuters) -Polish national airline PLL LOT on Friday asked a U.S. judge to declare it was a crime victim in the Boeing 737 MAX criminal case, a move that could make the airline eligible for significant compensation. U.S. District Judge Reed O’Connor in Texas ruled last week that people killed in two …

Polish airline asks U.S. judge to declare it crime victim in 737 MAX case Read More »

By David Shepardson (Reuters) -General Motors Co said late on Friday it had temporarily halted paid advertising on Twitter after Elon Musk completed his takeover of the social media company. The largest U.S. automaker said it was “engaging with Twitter to understand the direction of the platform under their new ownership.” Twitter did not immediately …

GM temporarily halts paid advertising on Twitter Read More »

SAO PAULO (Reuters) – Brazil’s electricity company Eletrobras offered on Friday a voluntary buyout to well over 2,000 people representing roughly 22% of its workforce, in a first major cost cutting move following its privatization. Centrais Eletricas Brasileiras SA, as the company is formally known, said the voluntary layoff program will apply to 2,312 employees …

Brazil’s Eletrobras offers buyout to cut over 2,300 jobs, a fifth of workforce Read More »

By David Shepardson and Valentine Hilaire MEXICO CITY (Reuters) -Mexico is making progress towards recovering its Category 1 aviation rating, but the U.S. Federal Aviation Administration (FAA) has not yet approved its plan as claimed earlier by the Mexican government, a source familiar with the matter told Reuters on Friday. Mexico’s foreign ministry said earlier …

FAA says Mexico on track to recover Category 1 aviation rating, but denies approving plan Read More »