By Anthony Esposito and Isabel Woodford MEXICO CITY (Reuters) -The Bank of Mexico hiked its benchmark interest rate by three-quarters of a percentage point to a record 8.5% on Thursday, mirroring the U.S. Federal Reserve’s most recent policy decision as inflation surged to an over two-decade high. The five board members of Banxico, as the…
By Natalie Grover and Danilo Masoni LONDON (Reuters) – Shares in GSK, Sanofi and Haleon fell sharply on Thursday, following declines earlier this week, amid growing investor concerns about U.S. litigation focused on a heartburn drug that contained a probable carcinogen. Around 1400 GMT, GSK shares were down 6.8%, Sanofi’s were down 6.9% and Haleon’s…
By Bansari Mayur Kamdar and Aniruddha Ghosh (Reuters) – The S&P 500 was trading at its highest level in more than three months on Thursday, extending a rally from the previous session as fresh evidence of cooling inflation further cemented hopes of a smaller rise in interest rates. The benchmark index rose after data showed…
(Reuters) – U.S. producer prices unexpectedly fell in July amid a drop in the cost for energy products and underlying producer inflation appears to be on a downward trend, while jobless claims rose for a second straight week in a labor market that remains tight. The producer price index for final demand declined 0.5% last…
By Eric Onstad LONDON (Reuters) – Speculators in the copper market, viewed as an indicator of the health of the economy, are betting a global downturn means the metal used in power and construction has further to fall, despite its recent rebound. The latest data shows more funds with bearish positions than bullish copper positions…
LONDON (AP) — British Prime Minister Boris Johnson and senior ministers held inconclusive talks Thursday with energy companies amid mounting pressure to help residents cope with soaring gas and electricity prices. Johnson, who is in his final weeks as prime minister, joined Treasury chief Nadhim Zahawi and Business Secretary Kwasi Kwarteng at the meeting with…
NEW YORK (AP) — Gas prices have fallen from the record highs they reached earlier this summer, but they’re still much higher than a year ago. And with inflation driving up the cost of pretty much everything else, finding the funds to cover your commute may be increasingly tricky. “Being able to get to work…
NEW YORK (AP) — Gas prices are falling but still higher than they were a year ago. And inflation has made most everything else more expensive. If you’re looking to save money on your commute, here are some tips: IF YOU HAVE A CAR: MAKE A DRIVING STRATEGY AAA recommends avoiding traffic and adjusting your…
(Reuters) – BlackRock Inc, the world’s biggest asset manager, has launched a spot bitcoin private trust for institutional clients in the United States, according to a blog post on its website. The trust will track the performance of bitcoin, offering direct exposure to the price of the digital currency, BlackRock said. “Despite the steep downturn in…
CHICAGO (AP) — McDonald’s will start reopening some of its restaurants in Ukraine in the coming months, a symbol of the war-torn country’s return to some sense of normalcy and a show of support after the American fast-food chain pulled out of Russia. The burger giant closed its Ukrainian restaurants after Russia’s invasion nearly six…
