Reuters US Business

SAO PAULO (Reuters) – Goldman Sachs has appointed Cristina Estrada, current COO of Latin America Financing Group, as co-head of investment banking in Brazil, according to an internal memo seen by Reuters. Estrada will be transferred from New York to Brazil and will work alongside investment banking co-head Ricardo Bellissi. She will also integrate the …

Goldman Sachs appoints Cristina Estrada as Brazil investment banking co-head Read More »

(Reuters) – Nike Inc has decided to suspend its relationship with Hockey Canada as the national governing body faces increased scrutiny over its handling of sexual assault allegations, the world’s largest sportswear maker said on Friday. Nike is the latest sponsor to cut ties with Hockey Canada, which has been under fire since news broke …

Nike suspends relationship with Hockey Canada amid sex assault allegations Read More »

By Nadine Awadalla and Maha El Dahan DUBAI (Reuters) -Oil output target cuts agreed by OPEC+ producers will leave them more supply to tap in the event of any crises, OPEC Secretary General Haitham al-Ghais told Al Arabiya TV on Friday. OPEC+, which includes the 13 members of OPEC and 10 allies led by Russia, …

Oil target cuts free up capacity in case of crises, OPEC head says Read More »

By Saqib Iqbal Ahmed NEW YORK (Reuters) – A towering rally in the U.S. dollar is expected to hit third-quarter corporate earnings, potentially presenting another obstacle to stocks in a year that has experienced an already-painful market decline. The dollar index, which measures the greenback’s performance against a basket of peers, traded an average of …

Analysis-Dollar’s gains spell earnings pain for U.S. companies Read More »

BERLIN (Reuters) – Austria’s WIFO institute slashed its 2023 forecast on Friday, saying record inflation rates resulting from the war in Ukraine are steering the economy towards stagflation. Austrian gross domestic product is expected to grow by 0.2% in real terms in 2023, WIFO said, slashing its June prediction of 1.6% growth. With inflation remaining …

Austria’s WIFO slashes 2023 GDP forecast, warns of stagflation Read More »

By Yuvraj Malik and Jane Lanhee Lee (Reuters) – Chipmaker Advanced Micro Devices Inc on Thursday provided third-quarter revenue estimates that were about a billion dollars less than previously forecast, signaling the chip slump could be much worse than expected. AMD shares dropped 4% in after hours trading, dragging down shares of Nvidia Corp and …

AMD revenue shortfall warning signals chip slump could be worse than expected Read More »

By Ananya Mariam Rajesh (Reuters) – Levi Strauss & Co cut its full-year profit forecast on Thursday, as decades-year high inflation hits consumer spending and a strengthening U.S. dollar adds to worries alongside higher costs. Shares of the company fell about 4% in extended trading after the company also missed third-quarter revenue estimates. Consumers are …

Levi Strauss cuts 2022 profit forecast on inflationary pressures, strong dollar Read More »

(Reuters) – The U.S. Federal Reserve needs to keep raising interest rates into early next year to bring down stubbornly high inflation, Governor Christopher Waller said on Thursday in a hawkish speech suggesting he sees little reason to ease the pace of Fed policy tightening. “Inflation is far from the FOMC’s goal and not likely …

Fed’s Waller sees further aggressive rate hikes in inflation battle Read More »

By Noel Randewich (Reuters) – Shares of U.S.-listed marijuana growers and sellers surged on Thursday after President Joe Biden took executive action to change U.S. policy on the drug, pardoning all prior federal offenses of simple marijuana possession. U.S.-listed shares of Tilray Brands and Canopy Growth Corp, two well known marijuana sellers, jumped 22% and …

Cannabis stocks surge as Biden overhauls U.S. marijuana policy Read More »