Reuters US Economy Archives - Page 602 of 624

U.S. cuts off Ethiopia, Mali, Guinea from Africa duty-free trade program

2 Jan 2022 2 Jan 2022

WASHINGTON (Reuters) -The United States on Saturday cut Ethiopia, Mali and Guinea from access to a duty-free trade program, following through on President Joe Biden’s threat to do so over alleged human rights violations and recent coups. “The United States today terminated Ethiopia, Mali and Guinea from the AGOA trade preference program due to actions …

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Brazil’s Bolsonaro extends tax breaks for labor-intensive industries

1 Jan 2022 1 Jan 2022

RIO DE JANEIRO (Reuters) – Brazilian President Jair Bolsonaro approved a bill that extends payroll tax exemptions for 17 sectors of the economy in a bid to boost job creation, according to a decision published in the official gazette late on Friday. The exemption was extended for another two years until end-2023, and benefits meatpackers, …

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Turkey hikes energy prices; Istanbul monthly inflation highest in decade

1 Jan 2022 1 Jan 2022

ISTANBUL (Reuters) – Inflation soared by the most in at least a decade in Turkey’s biggest city Istanbul last month, according to data on Saturday, and President Tayyip Erdogan’s government sharply raised nationwide electricity and natural gas prices for the new year. Prices also jumped for petrol, car insurance and some bridge tolls, adding more …

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Wall Street ends tumultuous year near record highs

1 Jan 2022 1 Jan 2022

By Stephen Culp and Echo Wang NEW YORK (Reuters) – Wall Street closed near record highs in light trading on Friday, the last trading day of 2021, marking the second year of recovery from a global pandemic. All three major U.S. stock indexes scored monthly, quarterly and annual gains, notching their biggest three-year advance since …

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LNG, coal lead 2021 commodities rally as markets eye COVID-19 for next move

31 Dec 2021 31 Dec 2021

By Naveen Thukral and Florence Tan SINGAPORE (Reuters) – Commodity prices from energy and metals to agricultural products rebounded sharply in 2021, with power fuels leading the rally, driven by tight supplies and a strong economic recovery as COVID-19 vaccinations staved off widespread lockdowns. Global demand for commodities is expected to remain robust in 2022 …

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Arkhouse Partners nominates directors to Preferred Apartment Communities board -sources

31 Dec 2021 31 Dec 2021

BOSTON (Reuters) – Investment firm Arkhouse Partners is seeking to take control of real estate investment company Preferred Apartment Communities’ board and nominated five directors, two sources familiar with the matter said on Friday. Arkhouse is aiming to oust the majority of Preferred Apartment Communities’ eight board members, the sources said, adding the nominations have …

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Kenya GDP growth rebounds in third quarter of 2021 – finance minister

31 Dec 2021 31 Dec 2021

By George Obulutsa NAIROBI (Reuters) -Kenya’s economy rebounded in the third quarter of the year following the easing of measures aimed at curbing COVID-19’s spread, the finance minister and the statistics office said on Friday. The economy grew 9.9% year-on-year during the quarter, compared with a contraction of 2.1% in the same period in 2020, …

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Brazil’s Esteves formally rejoins controlling group of BTG Pactual

30 Dec 2021 30 Dec 2021

RIO DE JANEIRO/SAO PAULO (Reuters) -André Esteves, a Brazilian banking executive who was briefly jailed on suspicion of corruption, but whose name was later cleared, has obtained all regulatory approvals to formally re-enter Banco BTG Pactual SA’s controlling group, the bank said in a Thursday securities filing. The so-called G7 is a group of five …

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Jana Partners nominates two to TreeHouse’s board

30 Dec 2021 30 Dec 2021

(Reuters) – Hedge fund Jana Partners said on Thursday it nominated two directors to the board of TreeHouse Foods Inc, months after it pushed for changes at the packaged food maker. The private-label food group said in November it was exploring options including a sale of the company or divestment of a unit after pressure …

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Lira on four-day skid as Ankara struggles to hold confidence

30 Dec 2021 30 Dec 2021

By Ezgi Erkoyun and Nevzat Devranoglu ISTANBUL (Reuters) – The Turkish lira fell as much as 6% on Thursday, extending a four-day slide after last week’s big gains, as the government struggled to convince savers to ignore the volatility and worries over surging inflation and unorthodox rate cuts. While Finance Minister Nureddin Nebati said Turks’ …

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