Reuters US Economy

One eve of vote, Argentina’s Massa announces $500 million in new loans

BUENOS AIRES (Reuters) – Argentina will sign loans worth $500 million with international lenders next week, Economy Minister Sergio Massa announced on Saturday, the day before a primary election in which he is running for president to lead the embattled ruling coalition. In a ministry statement laying out economic policies to be formally rolled out …

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Jet charter firm Wheels Up in talks with lenders amid cash crunch -WSJ

(Reuters) -Private jet company Wheels Up Experience is in talks with lenders about a debt restructuring while exploring other options to avoid bankruptcy, the Wall Street Journal reported on Friday. The company, which offers flight charters, has recently started discussions with Bain Capital and MSD Capital, holders of more than $260 million in equipment financing …

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IMF reaches $830 million staff-level deal to support Honduras economy

(Reuters) -The International Monetary Fund said on Friday it has reached a staff-level agreement with Honduras for a 36-month credit facility for about $830 million to support the country’s economic reform policies. In a statement, the IMF said the economic program focuses on helping address urgent social spending and investment needs, while anchoring macroeconomic stability. …

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Fed doves, Fed hawks: a look at how U.S. central bankers fly

(Reuters) – The labels “dove” and “hawk” have long been used by central bank watchers to describe the monetary policy leanings of policymakers, with a dove more focused on risks to the labor market and a hawk more focused on the threat of inflation. The topsy-turvy economic environment of the coronavirus pandemic sidelined those differences, …

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Strong services costs lift US producer prices; inflation expectations dip

By Lucia Mutikani WASHINGTON (Reuters) – U.S. producer prices increased slightly more than expected in July as the cost of services rebounded at the fastest pace in nearly a year, but the trend remained consistent with a moderation in inflationary pressures. The report from the Labor Department on Friday also showed goods prices outside food …

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US consumer sentiment dips in August; inflation expectations improve

WASHINGTON (Reuters) – U.S. consumer sentiment dipped in August, but Americans expected inflation to edge lower over the next year and beyond, a survey showed on Friday. The University of Michigan’s preliminary reading on the overall index of consumer sentiment came in at 71.2 this month compared to 71.6 in July. Economists polled by Reuters …

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Private equity firm CVC bags $4.45 billion so far in sixth Asia-focused fund

By Kane Wu HONG KONG (Reuters) – Europe-based private equity firm CVC Capital Partners has raised over $4.45 billion so far for its new Asia-focused fund, its latest regulatory disclosure showed. CVC is targeting to raise $6 billion for the fund, its sixth and largest to date for the region, people familiar with the situation …

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Davidson Kempner agrees sale of credit manager Prelios to ION Group

LONDON (Reuters) – U.S. hedge fund Davidson Kempner has struck a deal to sell Italian credit manager Prelios to ION Group, it said on Friday. ION, a financial technology and media group led by Italian businessman Andrea Pignataro, is making the acquisition through its subsidiary X3 Group. Terms of the deal were not disclosed, but …

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Coach owner’s Michael Kors deal creates US giant to take on European luxury rivals

By Aishwarya Venugopal (Reuters) -Coach parent Tapestry will buy Michael Kors owner Capri Holdings in a deal valued at $8.5 billion, creating a U.S. fashion powerhouse to challenge larger European rivals for a bigger share of the global luxury market. U.S. luxury firms have consistently lagged their European peers in scale, limiting their ability to …

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Exclusive-Canadian pension funds explore $6 billion sale of renewables firm Cubico -sources

By Isla Binnie and Andres Gonzalez NEW YORK (Reuters) – Two of Canada’s biggest pension funds are exploring options including a sale of Cubico Sustainable Investments that could value the renewable energy firm at about $6 billion or more, including debt, according to people familiar with the matter.     Montreal-based Public Sector Pension (PSP) Investment …

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