Reuters US Economy Archives - Page 714 of 866

World Bank’s Malpass criticizes Chad creditors’ plan for failing to reduce debt

11 Nov 2022 12 Nov 2022

By Andrea Shalal WASHINGTON (Reuters) -World Bank President David Malpass on Friday said he was deeply concerned about Chad’s longer-term ability to pay its $3 billion in external debts since an agreement reached by the African country’s creditors does not call for any actual debt reduction. Chad on Friday confirmed a Reuters report that it …

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Chad agrees debt plan with creditors, including Glencore

11 Nov 2022 12 Nov 2022

By Mahamat Ramadane N’DJAMENA (Reuters) -Chad has reached an agreement with its creditors, including Swiss commodities trader Glencore, paving the way for more funding from the International Monetary Fund, but stopping short of reducing the central African country’s $3 billion in external debt. The deal, outlined by Chad’s finance minister Tahir Hamid Nguilin on Friday, …

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Lula’s market lure fades after Brazil’s ‘Liz Truss moment’

11 Nov 2022 11 Nov 2022

By Marcela Ayres and Lisandra Paraguassu BRASILIA (Reuters) -There is growing investor pessimism that Brazilian President-elect Luiz Inacio Lula da Silva will govern with fiscal discipline as the country’s central bank chief likened a market selloff to a “Liz Truss moment for Brazil.” Brazil’s real currency and Bovespa stock index both lost around 4% on …

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Chile’s Empresas Copec posts 35.5% drop in Q3 net profit

11 Nov 2022 11 Nov 2022

SANTIAGO (Reuters) -Chilean industrial group Empresas Copec on Friday posted a 35.5% decrease in its third-quarter net profit versus a year earlier, mainly driven by a drop in non-operating income. The company’s net profit stood at $474 million, while net revenue rose 19.7% to $7.9 billion. Earnings before interest, taxes, depreciation and amortization (EBITDA), or …

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In Brazil, Lula aide seeks to delay Inter-American bank leader election

11 Nov 2022 11 Nov 2022

By Marcela Ayres and Rodrigo Viga Gaier BRASÍLIA/RIO DE JANEIRO (Reuters) -An aide to Brazilian President-elect Luiz Inacio Lula da Silva wants to delay the Nov. 20 election for leader of the Inter-American Development Bank (IDB) until next year and is seeking U.S. support for the move. Former Finance Minister Guido Mantega, who is on …

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Yellen says doesn’t know if lower U.S. inflation data is turning point

11 Nov 2022 11 Nov 2022

By David Lawder NEW DELHI (Reuters) -U.S. Treasury Secretary Janet Yellen told Reuters on Friday that it was good to see the latest U.S. inflation data that suggests upward pressures are easing, but added that it was unclear if inflation has a reached a turning point to continue moving lower. “I don’t know if this …

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Czech central bank not in FX market since last meeting, Dedek says

11 Nov 2022 11 Nov 2022

PRAGUE (Reuters) – The Czech National Bank has not been present in currency markets to defend the crown since its last policy meeting on Nov. 3, but stands ready to prevent excessive fluctuations in the market, board member Oldrich Dedek told Czech Television. The bank left interest rates stable for a third straight meeting last …

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Germany to take on 45.6 billion euros in new debt in 2023

11 Nov 2022 11 Nov 2022

BERLIN (Reuters) – Germany will comply with its constitutional debt brake next year for the first time since 2019, even as it takes on significantly more new debt than laid out in its summer draft, several Bundestag budget committee sources told Reuters on Friday. The budget foresees 45.61 billion euros ($46.62 billion) in new debt …

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Fitch sees increasing chances of BOK scaling back to 25-bp in Nov

11 Nov 2022 11 Nov 2022

SEOUL (Reuters) – Chances are increasing for the Bank of Korea to scale back to a 25-basis-point rate hike in November, a Fitch Ratings official said on Friday, although the agency maintained its baseline scenario for another 50-bp rate hike. “We forecast the BOK to hike its policy rate by an additional 50bp in the …

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FTX looks for $9.4 billion in rescue funds, Bahamas freezes some assets

11 Nov 2022 11 Nov 2022

By Angus Berwick and Anirban Sen (Reuters) – FTX is scrambling to raise about $9.4 billion from investors and rivals, a source said on Thursday, as Chief Executive Sam Bankman-Fried urgently seeks to save the cryptocurrency exchange that has been buffeted by a rush of customer withdrawals. Bankman-Fried has discussed raising $1 billion each from …

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