By Kevin Buckland TOKYO (Reuters) – The dollar slid to its weakest since mid-November against major peers on Wednesday, after Federal Reserve Chair Jerome Powell said it may take several months to make a decision on running down the central bank’s $9 trillion balance sheet. In testimony at his renomination hearing on Tuesday, Powell said…
By David Henry NEW YORK (Reuters) – Citigroup Inc will exit its Citibanamex consumer banking business in Mexico, the bank said on Tuesday ending its 20-year retail presence in the country that was the last of its overseas consumer businesses. Citigroup’s decision to sell or spin off Citibanamex, Mexico’s third biggest bank by assets as…
By Daniel Leussink and Leika Kihara TOKYO (Reuters) -Japanese manufacturers turned less positive about their business conditions in January, a survey showed on Wednesday, even as central bank governor Haruhiko Kuroda stressed the economy was on track for a recovery accompanied by rising inflation. Along with the potential hit from a spike in COVID-19 cases…
By Howard Schneider and Ann Saphir (Reuters) -Federal Reserve Chair Jerome Powell, in a congressional hearing that pointed to his likely confirmation for a second term as head of the U.S. central bank, said on Tuesday the economy should weather the current COVID-19 surge with only “short-lived” impacts and was ready for the start of…
By Mike Stone and Diane Bartz WASHINGTON (Reuters) -The U.S. Federal Trade Commission, which assesses mergers to ensure they comply with antitrust law, has put off a vote on Lockheed Martin’s purchase of Aerojet Rocketdyne for as much as two weeks, two people briefed on the matter said. The vote had initially been scheduled for…
By Tom Westbrook SYDNEY (Reuters) – Stocks and commodities rose in relief and the dollar hit a six-week low on Wednesday, after Federal Reserve Chair Jerome Powell sounded less hawkish than expected in testimony to Congress, as he charts a path out of pandemic policy settings. Bonds have also steadied after beginning the year with…
BEIJING (Reuters) – China’s factory-gate inflation rose more slowly than expected in December as the government took steps to contain lofty raw material prices, official data showed on Wednesday. The producer price index (PPI) climbed 10.3% from a year earlier, the National Bureau of Statistics (NBS) said in a statement. Economists in a Reuters poll…
MEXICO CITY (Reuters) -Mexican carrier Aeromexico on Tuesday said its creditors have overwhelmingly approved the company’s restructuring plan as part of its efforts to emerge from bankruptcy. Aeromexico said in a statement that the voting ended on 7 Jan. and 86% of the creditors who voted backed the plan. “The conclusion of the voting process…
By David Henry NEW YORK (Reuters) – Citigroup Inc will exit its Citibanamex consumer banking business in Mexico, the bank said on Tuesday ending its 20-year retail presence in the country that was the last of its overseas consumer businesses. Citigroup’s decision to sell or spin off Citibanamex, Mexico’s third biggest bank by assets as…
By Jonathan Stempel (Reuters) – World Wrestling Entertainment Inc was sued on Tuesday by a smaller rival that accused it of violating federal antitrust law by monopolizing the professional wrestling market. MLW Media LLC accused WWE and its Chief Executive Vince McMahon of threatening content partners for doing business with MLW, to help protect its…
