Reuters US Economy Archives - Page 352 of 866

India’s inflation on downward trend but need to be cautious, cenbank minutes show

23 Oct 2024 23 Oct 2024

By Swati Bhat MUMBAI (Reuters) – India cannot risk another bout of inflation and the monetary policy committee (MPC) must adopt a cautious approach to lowering interest rates, members of the rate-setting panel said in the minutes of the October meeting. The MPC, which consists of three Reserve Bank of India (RBI) and three external …

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IMF urges Turkey to avoid repeat of bumper minimum wage hike

23 Oct 2024 23 Oct 2024

By Karin Strohecker WASHINGTON (Reuters) – Turkey should avoid a repeat of its last inflation-fuelling minimum wage hike when the next raise is due on Jan. 1 and focus on support measures for the poorest part of the population instead, the IMF’s mission chief for the country told Reuters. Jim Walsh, speaking on the sidelines …

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Wabtec raises annual profit forecast on strong freight and transit demand

23 Oct 2024 23 Oct 2024

(Reuters) – Heavy industrial parts maker Wabtec raised its full-year profit forecast on Wednesday, amid strong demand for its freight and transit products. The Pittsburgh, Pennsylvania-based company is a provider of equipment, systems and aftermarket services for freight and transit rail industries. Wabtec now expects full-year adjusted profit in the range of $7.45 per share …

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South Korean finance minister views dollar-won near 1,400 as new normal, Yonhap reports

23 Oct 2024 23 Oct 2024

SEOUL (Reuters) – South Korea’s finance minister said the won’s current level near 1,400 per dollar should be regarded as a “new normal”, the Yonhap news agency reported on Wednesday, although the finance ministry later denied the minister made the remark. Choi Sang-mok, who is also the deputy prime minister for economic affairs, said “the …

South Korean finance minister views dollar-won near 1,400 as new normal, Yonhap reports Read More »

US, Europe matching rate paths must diverge: McGeever

23 Oct 2024 23 Oct 2024

By Jamie McGeever ORLANDO, Florida (Reuters) -U.S. and European interest rates have followed parallel paths this year, even as the regions’ economic and inflationary outlooks have veered in different directions. Money markets expect this to continue. Economic logic says they’re wrong. The amount of implied easing from the Federal Reserve, Bank of England and European …

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Mexico restaurant chain operator Alsea posts sharp drop in third-quarter profit

23 Oct 2024 23 Oct 2024

(Reuters) -Mexico-based restaurant chain operator Alsea posted on Tuesday a worse-than-expected 98% tumble in its third-quarter net profit, due in part to a weaker Mexican peso against the U.S. dollar that also drove up financing losses. Alsea, which operates chain restaurants and cafes including Starbucks, Burger King and Domino’s Pizza, also cited “ongoing macroeconomic challenges,” …

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Packaging Corp of America tops Q3 estimates on higher pricing power

22 Oct 2024 22 Oct 2024

(Reuters) – Packaging Corp of America reported a third-quarter profit and revenue exceeding Wall Street estimates on Tuesday, driven by price increases in its paper and packaging segments. The Lake Forest, Illinois-based company makes packaging products for customers in industries such as food and beverages, paper products, and retail trade sectors. Packaging Corp’s quarterly adjusted …

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Impactive Capital bets on SLM and Basic Fit for long-term gains

22 Oct 2024 22 Oct 2024

By Svea Herbst-Bayliss NEW YORK (Reuters) – Impactive Capital doesn’t push companies to sell but wants them to do better on their own, co-founder Lauren Taylor Wolfe said on Tuesday, citing student loan company SLM and gym chain Basic Fit as potential enduring success stories. “We take the long term view,” Taylor Wolfe said, adding …

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Truckmaker PACCAR misses margin estimate as costs weigh

22 Oct 2024 22 Oct 2024

(Reuters) – PACCAR reported a gross margin that fell short of its own expectations on higher costs, sending the truckmaker’s shares down 5.7% in morning trading on Tuesday. The trucking industry has taken a hit from depressed freight demand after the pandemic and has had to contend with rising labor costs, like many other U.S. …

Truckmaker PACCAR misses margin estimate as costs weigh Read More »

Gulf bourses end lower on geopolitical tensions

22 Oct 2024 22 Oct 2024

By Ateeq Shariff (Reuters) – Stock markets in the Gulf ended lower on Tuesday as geopolitical tension gripped the region and corporate earnings failed to lift investor sentiment. Lebanon’s Hezbollah movement said on Tuesday there would be no negotiations while fighting continued with Israel, and claimed sole responsibility for a drone attack on Israeli Prime …

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