By Dietrich Knauth NEW YORK (Reuters) – Bankrupt wedding gown retailer David’s Bridal received court approval on Friday to sell its business to asset manager Cion Investment Corp in a no-cash transaction, reaching a deal to keep 195 stores open and avoid a total shutdown. U.S. Bankruptcy Judge Christine Gravelle approved the sale at a …
David’s Bridal avoids shutdown with no-cash bankruptcy sale Read More »
By David Lawder WASHINGTON (Reuters) – U.S. Internal Revenue Service Commissioner Danny Werfel said on Friday that a Republican plan to cut the agency’s annual budget would reduce its ability to ramp up tax collections on millionaires like it has done in recent months. Republicans on the U.S. House of Representatives Appropriations Committee have proposed …
US IRS chief says budget cuts would reduce ability to pursue tax cheats Read More »
By Amruta Khandekar (Reuters) -European shares were muted on Friday, but remained on course to log their biggest weekly percentage jump in over three months on hopes that easing inflation would allow the U.S. Federal Reserve to pause rate hikes soon. The pan-European STOXX 600 index held steady at 461.49 points by 0759 GMT. The …
European shares eye best week in over three months on disinflation hopes Read More »
By Kevin Yao BEIJING (Reuters) -China’s central bank will use policy tools such as the reserve requirement ratio (RRR) and medium-term lending facility to weather the challenges facing the world’s second-largest economy, a senior bank official said on Friday. Momentum in China’s post-pandemic recovery has slowed sharply after a brisk pickup in the first quarter, …
China central bank to use tools such as RRR to tackle economic woes Read More »
By Jamie McGeever ORLANDO, Florida (Reuters) -For the Fed and the U.S. economy, the hard bit starts now. Depending on the length of monetary policy’s ‘long and variable’ lag, a good chunk – perhaps even most – of the Federal Reserve’s 500 basis points of interest rate increases since March 2022 have yet to be …
Fed’s rate hike lags are about to bite: McGeever Read More »
(Reuters) – The U.S. Environmental Protection Agency (EPA) on Thursday said Callon Permian LLC was fined $1.3 million for excess emissions from tanks, flares and other equipment at company’s oil and gas facilities in the West Texas Permian Basin. The EPA said it identified emissions using a helicopter equipped with a special infrared camera that …
US fines Texas oil company Callon Permian over emissions Read More »
BUENOS AIRES (Reuters) -Argentines are tightening their wallets to make end meets as the South American country battles inflation which could surpass 140% on an annual basis this year, hunting for the cheapest prices on basic goods to shield their income. Inflation in the 12 months through June hit 115.6%, official data showed on Thursday. …
Argentines tighten wallets to fight spiraling inflation Read More »
MEXICO CITY (Reuters) – Mexico’s government and railroad company Canadian Pacific Kansas City (CPKC) have formalized an agreement to study the viability of a passenger rail line from Mexico City to the city of Queretaro, some 140 miles (220 km) north-west from the capital. “An agreement was signed 15, 20 days ago where the business …
Canada’s CPKC signs deal to study passenger rail project in Mexico Read More »
By David Lawder WASHINGTON (Reuters) – The U.S. government posted a $228 billion budget deficit for June, up 156% from a year earlier as revenues continued to weaken and July benefit payments were accelerated into June, the U.S. Treasury Department said on Thursday. The deficit compares to a June 2022 budget gap of $89 billion. …
U.S. Treasury posts sharply higher $228 billion June deficit Read More »
BRUSSELS (Reuters) – Euro zone finance ministers agreed on Thursday that the single currency area needed a “determined, gradual and realistic” reduction of government spending to boost economic growth and prepare for future challenges. In a statement agreed at the Eurogroup meeting in Brussels, the ministers said economic growth in 2024 was expected to improve …
Euro zone ministers agree on gradual wind-down of spending Read More »
