By Isabel Woodford MEXICO CITY (Reuters) -Mexican distiller Becle, the world’s largest tequila producer, narrowed down its forecasts for its 2023 sales growth, an executive said on Thursday, after profits slumped over the first three months of the year. Becle, which produces the popular Jose Cuervo tequilas, now forecasts annual growth in the high single…
(Reuters) – The Federal Reserve and Federal Deposit Insurance Corp issued detailed reports on Friday on what went wrong and where their supervisors came up short in the run-up to the two biggest bank failures since the Great Financial Crisis. Below are key details from the government’s post-mortems, which underscore management failings at Silicon Valley…
(Reuters) – Iran’s intelligence ministry on Friday accused foreign “enemies” and dissidents of fomenting fears over suspected poisonings of schoolgirls, saying its investigation found no actual poisoning. The wave of suspected attacks has affected thousands of schoolgirls and provoked public anger, after months of protests against Iran’s clerical rulers following the death of a young…
By Noel Randewich (Reuters) -Shares of both Pinterest Inc and Snap Inc tumbled about 18% on Friday after the two social media companies’ quarterly reports spooked investors worried about weak digital ad spending. Their disappointing reports late on Thursday stood in contrast to strong results earlier this week from digital advertising heavyweights Alphabet Inc and…
By Nupur Anand, Andrea Shalal and Greg Roumeliotis NEW YORK (Reuters) – U.S. officials are coordinating urgent talks to rescue First Republic Bank as private-sector efforts led by the bank’s advisers have yet to reach a deal, according to three sources familiar with the situation. The Federal Deposit Insurance Corporation (FDIC), the Treasury Department and…
By Brendan Pierson (Reuters) – The Biden administration has asked a federal appeals court to put on hold a judge’s ruling striking down the Affordable Care Act’s mandate that insurers cover preventive care, including screenings for certain cancers and pre-exposure prophylaxis against HIV (PrEP), at no extra cost to patients. In a filing Thursday evening…
By Valentine Hilaire and Isabel Woodford MEXICO CITY (Reuters) -Mexico’s FEMSA , which controls one of the largest Coca-Cola bottlers and a string of convenience store chains, posted a 22% jump in its first-quarter revenue to 180 billion pesos on Friday, driven by strong sales in its key businesses. On the back of the company’s…
By Ayenat Mersie NAIROBI (Reuters) – Children account for most of the 109 bodies so far recovered in mass graves linked to a cult in Kenya, the interior minister said on Friday, the latest details in a case that has shocked the country and prompted calls for tighter regulation of religious fringe groups. Followers of…
By David Morgan WASHINGTON (Reuters) – A prominent moderate U.S. House of Representatives Democrat said Friday that it is time for President Joe Biden to begin daily talks with Republicans on government spending and debt, to avoid a calamitous default. Representative Josh Gottheimer rejected Republican demands to raise the $31.4 trillion debt ceiling only in…
By Jennifer Rigby and Maggie Fick LONDON (Reuters) – Pfizer Inc has pledged to deliver critical new medicines more quickly in low-income nations, but its first such vaccine effort faces hurdles likely to delay distribution in poorer countries by several years, global health officials told Reuters. Pfizer made a commitment on more equitable access last…
