By Angus McDowall and Tarek Amara TUNIS (Reuters) – Tunisia has reached a preliminary agreement with the International Monetary Fund (IMF) for a $1.9 billion rescue package that could be finalised in December, the fund said on Saturday. Tunisia has been in urgent need of international help for months as it grapples with a crisis …
IMF reaches staff-level agreement with Tunisia for loan programme Read More »
WASHINGTON (Reuters) – Europe’s energy subsidies may reduce the current rate of inflation but only at the expense of future higher readings, potentially complicating the task of monetary policy, European Central Bank (ECB) policymaker Francois Villeroy de Galhau said on Saturday. Fearing that high energy prices sap household purchasing power, governments are now rolling out …
Energy subsidies merely delay high inflation, ECB’s Villeroy warns Read More »
SEOUL/WASHINGTON (Reuters) -South Korea’s central bank governor said on Saturday that external factors, such as aggressive U.S. policy tightening buoying the dollar and driving the won currency sharply down, made providing forward guidance on policy difficult. The Bank of Korea delivered its second-ever 50-basis-point rate hike on Wednesday and made clear the won’s 6.5% slide …
Bank of Korea governor says policy guidance harder with won’s weakness Read More »
By Yuvraj Malik and Dawn Chmielewski (Reuters) -Rupert Murdoch has started a process that could reunite his media empire, News Corp and Fox Corp disclosed on Friday, saying they would consider combining at his behest, nearly a decade after the companies split. Both have formed special committees to review proposals of a potential combination, they …
Rupert Murdoch considers combining Fox, News Corp Read More »
By Andrea Shalal and David Lawder WASHINGTON (Reuters) -U.S. Treasury Secretary Janet Yellen on Friday said she does not see another allocation of International Monetary Fund emergency reserves to member countries as appropriate at this time, when more existing reserves need to be channeled to poorer countries. Yellen told a news conference that the Treasury …
Yellen says new IMF SDR allocation not appropriate at this time Read More »
By Saeed Azhar, Noor Zainab Hussain and Niket Nishant (Reuters) -Profits slid at Wall Street’s biggest banks in the third quarter as they braced for a weaker economy while investment banking was hit hard, but investors saw a silver lining with some banks beating estimates. JPMorgan Chase & Co, Morgan Stanley, Citigroup Inc and Wells …
Wall Street banks’ profits slide as economic clouds loom, some beat forecasts Read More »
By David Randall NEW YORK (Reuters) – Gut-wrenching market volatility and attractive valuations are prompting some investors to keep their bullish views on energy stocks, one of the few bets that have thrived in an otherwise punishing year. It’s not an easy call. The S&P 500 energy sector is already up around 46% this year …
As U.S. markets churn, some stick with rare 2022 winner: energy shares Read More »
By Jody Godoy NEW YORK (Reuters) -Nikola Corp founder Trevor Milton on Friday was convicted by a U.S. jury of fraud over allegations he lied to investors about the electric vehicle company’s technology. The jury found Milton guilty on one count of securities fraud and two counts of wire fraud after deliberating for around five …
By Walter Bianchi BUENOS AIRES (Reuters) – Argentina’s monthly inflation rate came in lower than expected in September, a rare reprieve for the embattled economy and struggling residents, which may allow the central bank to pause its aggressive rate hiking cycle for the time being. The government’s INDEC statistics agency reported on Friday the monthly …
Argentina inflation undershoots, easing pressure to hike rates Read More »
(Reuters) -Beyond Meat on Friday cut its annual revenue forecast for the second time due to slowing demand for faux meat as consumers look for cheaper options to beat rising prices and announced jobs cuts as well as executive departures. The plant-based meat producer plans to cut 200 jobs this year and said its finance …
Beyond Meat cuts revenue view, jobs as inflation hits plant protein demand Read More »
