Reuters US Economy

U.S. trade official raises concerns about Canada’s proposed digital services tax

12 Jan 2022

By Andrea Shalal WASHINGTON (Reuters) -Deputy U.S. Trade Representative Jayme White expressed Washington’s ongoing concern about Canada’s proposed digital services tax in talks on Wednesday with Canada’s deputy trade minister, David Morrison, USTR said in a statement. White spoke with Morrison ahead of the first meeting of trade deputies under the U.S.-Mexico-Canada (USMCA) trade agreement …

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Shares in Brazil mall operators soar as Multiplan figures, BofA survey point to recovery

12 Jan 2022

By Gabriel Araujo SAO PAULO (Reuters) – Shares in Brazilian shopping mall operators soared on Wednesday as Multiplan reported figures above pre-pandemic levels for the fourth quarter of 2021 and a Bank of America survey pointed to expectations of a solid recovery in the sector. Multiplan said in its operational preview that quarterly same store …

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Orban extends price curbs as inflation soars ahead of election

12 Jan 2022

BUDAPEST (Reuters) – Hungary’s government will cut the price of six basic foods from February, Prime Minister Viktor Orban said on Wednesday amid an inflationary surge, extending price caps already in place for energy, fuel and mortgages ahead of an April national election. Orban, who faces a tough fight for re-election on April 3, said …

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Egypt’s Suez Canal targets 15% share of global energy trade by 2040 – statement

12 Jan 2022

CAIRO (Reuters) – Egypt’s Suez Canal aims to have a 15% share of global energy trade by 2040, up from 8% in 2019, the canal authority said on Wednesday. The increase would come from “adopting flexible marketing policies”, it said in a statement. (Reporting by Moamen Said Attalah; Writing by Mahmoud Mourad; Editing by)

Fed’s Mester says she supports reducing balance sheet as fast as feasible

12 Jan 2022

By Jonnelle Marte NEW YORK (Reuters) -Now that the U.S. economy is in a stronger place, Federal Reserve officials should reduce the central bank’s bond holdings as quickly as they can without disrupting financial markets, Cleveland Fed President Loretta Mester said Wednesday. Mester said she wants the Fed to look at using higher redemption caps …

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Mexico eyeing market concentration on Citi sale, ministry says

12 Jan 2022

MEXICO CITY (Reuters) – Mexican will pay close attention to the issue of market concentration as Citigroup prepares to sell its consumer banking business in Mexico, the finance ministry said on Wednesday. “The departure from our country of such a large consumer bank raises delicate matters for the finance and regulatory authorities, which will receive …

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Brazil faces another year of high food inflation due to drought

12 Jan 2022

By Nayara Figueiredo SAO PAULO (Reuters) – Brazilian consumers could see another round of stiff rises in food prices this year as meatpackers grapple with higher costs due to a drought hurting the crops used to feed livestock. Meat industry group ABPA says there is no relief in sight before Brazil starts harvesting its mid-year …

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Brazil 2021 inflation highest since 2015; central bank vows tighter policy

11 Jan 2022

By Marcela Ayres BRASILIA (Reuters) – Brazil’s annual inflation hit a six-year high of over 10% in 2021, government data showed on Tuesday, well above the central bank’s year-end target range and raising pressure on policymakers for more aggressive interest rate hikes. The benchmark IPCA consumer price index rose 10.06% last year, the highest annual …

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BofA cuts Mexico 2022 GDP outlook to 1.5%

11 Jan 2022

(Reuters) -BofA Securities on Tuesday slashed its 2022 forecast for Mexican gross domestic product growth to 1.5% from 2.5% previously, citing weaker-than-expected domestic economic activity, underlining concerns about the recovery in Mexico. BofA said it had set its Mexico growth forecast well below the 2.8% consensus due to a “conservative policy mix, high uncertainty and …

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