MEXICO CITY (Reuters) – Mexico’s manufacturing sector declined in July, with demand for the country’s goods hit by inflation after a long pandemic-driven downturn, a survey showed on Friday, despite hopes for a recovery. The seasonally adjusted S&P Global Mexico Manufacturing Purchasing Managers’ Index (PMI) fell to 48.5 in July from 52.2 in June. Aside…
By Katie Paul and Paresh Dave (Reuters) – Meta Platforms Inc Chief Executive Mark Zuckerberg told staffers the world’s biggest social media company had planned for growth too optimistically, mistakenly expecting that a bump in usage and revenue growth during COVID-19 lockdowns would be sustained. Zuckerberg, responding to an employee question at a company-wide meeting…
WASHINGTON (Reuters) – The U.S. Federal Aviation Administration (FAA) on Friday approved Boeing’s inspection and modification plan to resume deliveries of 787 Dreamliners, two sources briefed on the matter told Reuters. The FAA approved Boeing’s plan after lengthy discussions, a move that should allow Boeing to resume deliveries in August after it halted them in…
By Dietrich Knauth and Mike Spector (Reuters) -The parent of far-right conspiracy website InfoWars filed for U.S. bankruptcy protection on Friday as the company and its founder Alex Jones face up to $150 million in damages in a trial over longstanding falsehoods he perpetuated about the Sandy Hook elementary school massacre. Three other companies associated…
By Tom Hals WILMINGTON, Del. (Reuters) -Elon Musk countersued Twitter Inc on Friday, escalating his legal fight against the social media company over his bid to walk away from the $44 billion purchase, although the lawsuit was filed confidentially. While the 164-page document was not publicly available, under court rules a redacted version could soon…
By Fergal Smith TORONTO (Reuters) – Canada’s resource-heavy main stock index rose on Friday, capping a positive month for the market, as company earnings impressed investors and preliminary data showed the Canadian economy expanding more than expected in the second quarter. The Toronto Stock Exchange’s S&P/TSX composite index ended up 236.21 points, or 1.2%, at…
By Lisa Pauline Mattackal, Divya Chowdhury and Nishara Karuvalli Pathikkal (Reuters) – Central banks and markets may have dropped the narrative that inflation is “transitory,” but there is a strong chance that current spikes in prices are temporary and will soon begin to trend downward, economists and former central bank policymakers told the Reuters Global…
By Simon Lewis and David Brunnstrom WASHINGTON (Reuters) – Long-time allies the United States and Japan launched a new high-level economic dialogue on Friday aimed at pushing back against China and countering the disruption caused by Russia’s invasion of Ukraine. The two countries agreed to establish a new joint research center for next-generation semiconductors during…
By Ann Saphir and Howard Schneider (Reuters) – Federal Reserve Chair Jerome Powell said this week he’s looking for compelling signs that inflation is cooling before the U.S. central bank will let up on what’s so far been its most aggressive set of interest rate hikes in decades. In data released on Friday, he largely…
(Reuters) -Indian cab aggregator Ola and Uber Technologies Inc are considering a potential merger, the Economic Times reported on Friday, citing sources familiar with the matter. Ola Chief Executive Bhavish Aggarwal met top Uber executives in San Francisco, United States, recently, the report said, citing two sources. (https://bit.ly/3cPbXro) The report did not disclose financial details…
