By Marc Frank HAVANA (Reuters) – Cubans are preparing for a new wave of inflation after the government last week rolled out details of an austerity plan that economists say will touch nearly every facet of the communist-run island’s already flailing economy. The measures – which include price and tax increases and cuts in subsidies …
Sticker-shocked Cubans prepare for ‘inflation bomb’ Read More »
(Reuters) -The Los Angeles Times plans to lay off 94 journalists who belong to the newspaper’s union, the head of the union said on Tuesday, adding to a string of job cuts that have swept the media industry in recent weeks. The layoffs represent about a fourth of the union’s membership, but are far lower …
Los Angeles Times to lay off 94 workers – union president Read More »
(Reuters) – Asset manager Invesco on Tuesday, reported a loss in the fourth quarter compared to a profit last year, hurt by lower fees and a non-cash asset impairment charge of $1.2 billion. The charge was related to some management contracts of U.S. retail mutual funds that Invesco had previously acquired. Investment management fees, Invesco’s …
Invesco reports fourth-quarter loss on impairment charge, lower fees Read More »
MOSCOW (Reuters) -The Russian government on Tuesday proposed extending capital controls that require exporters to convert foreign currency revenues into roubles until the end of the year, a move that should buttress the Russian currency. The measures, ordered by President Vladimir Putin in an October decree, have been effective, the government said on the Telegram …
Russian government proposes extending capital controls until end-2024 Read More »
WASHINGTON (Reuters) – U.S. Senator Bernie Sanders and a group of Democratic lawmakers are pushing to raise taxes for companies that pay their chief executives at least 50 times more than their typical worker’s salary, saying the bill was needed to limit corporate greed. The union-backed proposal, which could impact some of the nation’s biggest …
‘Outrageous’ CEO pay targeted in new bill from Bernie Sanders, US Democrats Read More »
(Reuters) -Canadian apparel maker Gildan Activewear said on Sunday it has learned that activist fund Browning West’s purchase of Gildan shares last month violated the U.S. anti-trust laws. Gildan has alleged the move was an “illegal” attempt by the U.S.-based fund to reappoint former Chief Executive Glenn Chamandy and eventually take control of the company’s …
Gildan Activewear says Browning West’s share purchase was ‘illegal’ Read More »
By Bernardo Caram BRASILIA (Reuters) -Brazil’s government on Monday unveiled an industrial development plan for the next 10 years aimed at boosting growth in the sluggish economy with state credit and subsidies for companies, as well as local content requirements. The new plan marks an effort by President Luiz Inacio Lula to kick-start the economy, …
Brazil’s Lula launches ‘re-industrialization’ plan for next decade Read More »
(Reuters) -Bankrupt cryptocurrency exchange FTX’s affiliate Alameda Research has dropped a lawsuit against Grayscale Investments that had accused the digital asset manager of “enriching itself at shareholders’ expense”, a court filing showed on Monday. Alameda, which filed the lawsuit in a Delaware court in March last year, had also accused Grayscale of charging high fees …
FTX-tied Alameda Research drops lawsuit against Grayscale Read More »
By Howard Schneider WASHINGTON (Reuters) – U.S. Federal Reserve officials suspected the fight to lower inflation would be difficult and have been reluctant to declare success even as price increases have slowed. The data from December showed why. Overall consumer price inflation jumped, while a measure of underlying inflation fell. Producer prices, the costs that …
Fed’s inflation puzzle still missing a piece or two Read More »
ZURICH (Reuters) -Sandoz on Monday announced a deal to buy Cimerli, a biosimilar drug to treat vision impairment and loss, from Coherus BioSciences Inc. for $170 million. The drug is interchangeable with Lucentis, a product marketed by Roche’s Genentech in the United States and by Novartis in the rest of the world, for all approved …
Sandoz to buy eye drug Cimerli in $170 million deal Read More »
