Reuters US Economy Archives - Page 725 of 866

Brazil central govt posts better-than-expected primary surplus in September

27 Oct 2022 27 Oct 2022

BRASILIA (Reuters) -Brazil’s central government posted a better-than-expected primary budget surplus in September, Treasury data showed on Thursday, boosted by dividends from the state-owned oil company Petrobras and higher tax revenues. The primary surplus reached 10.954 billion reais ($2.1 billion) in September, above the 9.95 billion reais surplus forecast by economists polled by Reuters. The …

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Exclusive-Mexico to proceed with GMO corn ban, seeks international grain deals -official

27 Oct 2022 27 Oct 2022

By Cassandra Garrison and Adriana Barrera MEXICO CITY (Reuters) – Mexico is considering direct agreements with farmers in the United States, Argentina and Brazil to secure non-genetically modified yellow corn imports, the country’s deputy agriculture minister said, adding that a 2024 ban on GM corn would not be amended. Deputy Agriculture Minister Victor Suarez told …

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Yellen says U.S. GDP data shows strength, but also healthy slowdown

27 Oct 2022 27 Oct 2022

By David Lawder CLEVELAND (Reuters) – U.S. Treasury Secretary Janet Yellen on Thursday said new GDP data shows strength in the U.S. economy but also some evidence of a healthy slowdown that could have a positive impact on fighting high inflation. Speaking to reporters on a trip to Cleveland to tout the Biden administration’s economic …

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Aegon sells Dutch operations to ASR in $4.9 billion deal

27 Oct 2022 27 Oct 2022

By Toby Sterling AMSTERDAM (Reuters) – Aegon NV said on Thursday smaller rival ASR would buy its Dutch insurance operations in a cash and shares deal worth around 4.9 billion euros ($4.93 billion) that would see ASR replace it as the country’s second-largest insurer. Aegon will receive 2.5 billion euros ($2.52 billion) and a 29.99% …

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Spain’s unemployment rate rises edges up to 12.67% in Q3

27 Oct 2022 27 Oct 2022

(Reuters) – Spain’s unemployment rate crept up to 12.67% in the third quarter from 12.48% the previous quarter while overall employment also increased, data from the National Statistics Institute showed on Thursday. The rise was driven by an increase in the number of people declaring themselves to be looking for work. Employment continued to grow …

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S.Korea moves again to ease credit crunch sparked by Legoland developer default

27 Oct 2022 27 Oct 2022

By Cynthia Kim SEOUL (Reuters) – South Korea’s central bank announced more measures on Thursday to improve liquidity in the banking system and mitigate the fallout from a developer’s debt default which is sparking fears of a credit crunch in Asia’s fourth-largest economy. Gangwon Jungdo Development Corp., the developer of the new Legoland Korea theme …

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Factbox-Credit Suisse’s strategic overhaul at a glance

27 Oct 2022 27 Oct 2022

ZURICH (Reuters) – Battered by years of scandals and losses, Credit Suisse plans to raise capital, cut thousands of jobs and spin off its investment bank. Here are main elements of the new strategy: CAPITAL The bank plans to raise 4 billion Swiss francs ($4.06 billion) to strengthen its balance sheet. Part of this will …

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Rouble gains as central bank set to end rate-cutting cycle

27 Oct 2022 27 Oct 2022

(Reuters) – The Russian rouble climbed in early morning trading on Thursday, a day before the central bank is due to meet for its rate-setting decision. By 0710 GMT, the rouble was 0.4% stronger against the U.S. dollar at 61.51, and stood at 61.57 versus the euro, up 0.5% on the previous day’s close. The …

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European stocks slip ahead of ECB decision, Credit Suisse drops on turnaround plans

27 Oct 2022 27 Oct 2022

(Reuters) – European shares opened lower on Thursday, as investors were cautious ahead of a widely expected interest rate hike from the European Central Bank, while Credit Suisse tumbled after the embattled Swiss bank unveiled restructuring plans. The pan-European STOXX 600 index slipped 0.3%, after closing at a five-week high on Wednesday. Credit Suisse fell …

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The evolution of Credit Suisse over 166 years

27 Oct 2022 27 Oct 2022

ZURICH (Reuters) – Credit Suisse announced on Thursday a strategic revamp aiming to turn the corner on years of scandals, losses and executive upheaval at a financial insitution with deep roots in Swiss business and society. Here is how the bank has developed over time: 1856 Politician and business leader Alfred Escher founds Schweizerische Kreditanstalt …

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