Reuters US Economy

Canada’s Xebra Brands bets on Mexico as future leader of industrial pot production

17 Dec 2021

By Diego Oré MEXICO CITY (Reuters) – Mexico should become the top player in the North American marijuana market once the process of legalization is complete, according to the first company given permission by the country’s highest court to commercialize cannabis. Mexico’s lower house of Congress in March backed decriminalization of cannabis for recreational, scientific, …

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Italy’s Monte dei Paschi plans to raise 2.5 billion euros in capital

17 Dec 2021

By Valentina Za MILAN (Reuters) – State-owned Italian bank Monte dei Paschi di Siena (MPS) said on Friday it needed 2.5 billion euros ($2.8 billion) in capital, as Rome seeks more time to reprivatise it following a failed sale attempt. Italy has worked in vain to meet an end-2021 deadline to return MPS to private …

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U.S. pork producer to limit sales in California over new pig law

17 Dec 2021

CHICAGO (Reuters) – Seaboard Foods, the nation’s second-biggest pig producer, said on Friday it will limit sales of certain pork products in California due to a measure requiring farmers to provide more space for animals raised for food sold in the state. The company, which produces about 7.2 million hogs a year, “will no longer …

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Waller: Rate hikes likely warranted at March meeting, balance sheet drawdown should follow on fast

17 Dec 2021

By Howard Schneider WASHINGTON (Reuters) -An interest rate increase will likely be warranted “shortly after” the Federal Reserve ends its bond purchases in March, and the central bank should also begin reducing its bondholdings as soon as the summer to attack “alarmingly high” inflation, Federal Reserve Governor Chris Waller said on Friday. The Fed this …

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ECB policymakers warn against inflation complacency

17 Dec 2021

FRANKFURT (Reuters) -The European Central Bank may be underestimating inflation risks, a diverse group of policymakers said on Friday, just hours after the bank extended stimulus measures to keep boosting price pressures. Inflation has exceeded even the most pessimistic forecasts in recent months and the ECB nearly doubled its 2022 projection on Thursday, but continued …

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Poland’s senate names nominees for central bank rate-setting council

17 Dec 2021

WARSAW (Reuters) – Poland’s upper house of parliament named on Friday its nominees for becoming members of the central bank’s Monetary Policy Council next year when most of the current cohort’s six-year terms expire, senators said on Friday. Nine of the 10 members of the central bank’s rate-setting body are due to leave their roles …

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Shanghai-London Stock Connect to include Germany, Switzerland

17 Dec 2021

BEIJING (Reuters) – A stock connect scheme linking Shanghai and London will be broadened to include Shenzhen-listed companies, as well as capital markets in Germany and Switzerland, China’s securities regulator said on Friday. Expanding the Shanghai-London Stock Connect scheme helps facilitate cross-border investment and promotes the opening-up of China’s capital markets, the China Securities Regulatory …

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