Reuters US Economy

BRASILIA (Reuters) -Brazil’s government will return to a primary deficit in 2023 after an expected surplus for this year, with the budget marked by extended tax reduction measures on fuels that would initially expire this year. The budget proposal sent to Congress on Wednesday predicted a 2023 primary budget deficit of 63.7 billion reais ($12.25 …

Brazil’s govt forecasts return to deficit in 2023 amid extended tax exemptions on fuels Read More »

By Shankar Ramakrishnan (Reuters) – Bank of America Corp is expanding its newly formed environmental, social and corporate governance (ESG) advisory and financing solutions team with four new hires, according to an internal memo seen by Reuters. The bank formed the team late last year to advise companies on incorporating ESG practices and on how …

Bank of America expands ESG team with four hires Read More »

(Reuters) -Bed Bath & Beyond Inc on Wednesday said it inked deals for more than $500 million in new financing and that it would close 150 stores, cut jobs and overhaul its merchandising strategy in an attempt to turn around its money-losing business. Investors, however, remain concerned that the retailer’s plan, announced in a strategic …

Bed Bath & Beyond to cut jobs, close stores in bid to reverse losses Read More »

By Lucia Mutikani WASHINGTON (Reuters) -U.S. private payrolls increased moderately in August, according to the ADP National Employment report, which likely exaggerates the slowdown in the labor market as government data continues to point to strong demand for workers and very tight conditions. Private employment rose by 132,000 jobs in August after increasing 268,000 in …

U.S. private payrolls growth slows in August-ADP Read More »

By Lisandra Paraguassu BRASILIA (Reuters) – Brazilian presidential frontrunner Luiz Inacio Lula da Silva is looking to gradually boost the country’s main welfare program, starting with an extra 18 billion reais ($3.47 billion) if he is elected in October and the budget allows, an aide told Reuters. Lula, who launched the iconic Bolsa Familia welfare …

Lula eyes gradual boost to Brazil welfare program, says aide Read More »

MOSCOW (Reuters) -Russian consumer prices extended their decline for the eighth week running, data showed on Wednesday, thanks to a seasonal drop in fruit and vegetable prices, sluggish consumer demand and the rouble’s strengthening over the past few months. Separately, the ministry of economic development said Russia’s economy shrank by 4.3% in July from a …

Russian consumer prices dip for 8th straight week, GDP decline slows Read More »

(Reuters) – European shares edged higher on Wednesday, supported by strong performances in tech stocks following a three-day selloff, with focus on regional inflation figures due later in the session. The continent-wide STOXX 600 was up 0.4%, as of 0716 GMT, snapping three consecutive days of losses. But the index was set for a monthly …

European shares bounce back ahead of inflation data Read More »

By Leika Kihara TOKYO (Reuters) – Bank of Japan board member Junko Nakagawa on Wednesday warned of risks to the country’s fragile economy such as the chance of rising living costs hurting household spending, highlighting the need to keep monetary policy ultra-loose for the time being. With the fallout from the COVID-19 pandemic fading, however, …

BOJ policymaker warns of fragile recovery, signals sustained low rates Read More »

(Reuters) – Chile’s central bank modified the norms that regulate the access and functioning of the formal foreign exchange market, it said in a statement Tuesday. The move comes after a public consultation and is “part of the modernization process” of the central bank’s exchange regulation, it said. (Reporting by Carolina Pulice and Kylie Madry; …

Chile central bank modifies norms for access, functioning of foreign exchange market Read More »

BOGOTA (Reuters) – Colombia’s leftist government will ask lawmakers to increase the 2023 budget by 10 trillion pesos ($2.28 billion) so it can up spending on social programs, Finance Minister Jose Antonio Ocampo said on Tuesday. The effort would raise the budget – originally proposed by the previous government of ex-President Ivan Duque – to …

Colombia government will seek to raise 2023 budget by $2.28 billion, says finance minister Read More »