BOGOTA (Reuters) – Mexican used-car platform Kavak has opened a vehicle reconditioning plant in Colombia, which it hopes will help capture at least 5% of the country’s used car market, country manager Luis Eduardo Lopez said on Wednesday. The 16,900-square-meter (20,200 square yard) plant has a capacity to process 2,500 cars per month and saw…
By Humeyra Pamuk and Patricia Zengerle WASHINGTON (Reuters) -The U.S. State Department on Wednesday said two top members of the House Foreign Affairs Committee can view a redacted version of a classified cable about the chaotic August 2021 U.S. withdrawal from Afghanistan sought by the committee’s Republican chairperson. The chairperson, Representative Michael McCaul, scheduled a…
By Suleiman Al-Khalidi AMMAN (Reuters) – The International Monetary Fund said on Wednesday Jordan needed to accelerate structural economic reforms to push growth beyond the average 2% to 3% it has struck in recent years to help it generate more jobs to reduce high unemployment. “With unemployment still high, and particularly among the youth and…
By Aishwarya Venugopal and Ananya Mariam Rajesh (Reuters) -Target Corp on Wednesday forecast a grim second quarter as consumers shun non-essentials such as electronics and home goods in the face of persistently high prices, but the retailer maintained its full-year profit expectations. U.S. retail sales have remained resilient despite higher prices but consumers have been…
By Lisa Richwine LOS ANGELES (Reuters) -Netflix Inc’s recently launched ad-supported tier reaches nearly 5 million active users per month, executives said on Wednesday in a pitch that emphasized the breadth of its programming to potential advertisers. The streaming video pioneer launched a $7-per-month option with commercials last November in 12 markets, including the U.S.,…
By Erwin Seba HOUSTON (Reuters) – Attorneys representing the family of a worker who was killed in a fire at a Texas City, Texas, refinery and another worker who was hospitalized said on Wednesday they have filed or would soon file injury claims against top U.S. oil refiner Marathon Petroleum. An employee killed in the…
By Susan Heavey, Doina Chiacu, Andrea Shalal WASHINGTON (Reuters) -President Joe Biden and top U.S. congressional Republican Kevin McCarthy on Wednesday underscored their determination to reach a deal soon to raise the federal government’s $31.4 trillion debt ceiling and avoid an economically catastrophic default. After a monthslong standoff, the Democratic president and the speaker of…
By Chuck Mikolajczak NEW YORK (Reuters) – U.S. stocks rose sharply on Wednesday, fueled by optimism over a potential deal on the $31.4 trillion federal debt ceiling and as a rebound in regional bank shares eased concerns about an escalation in the sector’s troubles. President Joe Biden and top U.S. congressional Republican Kevin McCarthy on…
By Will Dunham WASHINGTON (Reuters) – An Earth-sized planet orbiting a dim star in our galactic neighborhood is offering some of the best evidence to date of volcanism beyond our solar system, with observations suggesting a rugged and rocky world tormented by constant eruptions. Scientists said on Wednesday the planet, the third detected orbiting this…
By Michael S. Derby NEW YORK (Reuters) – The Federal Reserve’s in-house watchdog defended his agency’s independence and ability to conduct investigations in a Senate hearing on Wednesday, while acknowledging some dissatisfaction with the way his agency has looked into financial market trades by top central bankers. “No Board Chair has resisted or objected to…
