(Reuters) – Uruguayan fintech dLocal, the South American country’s first unicorn, saw its shares plummet on Friday, after Argentine news outlet Infobae published an article saying the government was investigating it for a possible fraud of at least $400 million. Citing unnamed official sources, Infobae said the Argentina government was investigating the fintech for “improper…
By David Lawder DETROIT (Reuters) -The International Monetary Fund said on Friday U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs to tighten fiscal policy to bring down its federal debt. The IMF said in a statement issued after its “Article IV” review of U.S. policies that…
NEW YORK (Reuters) – U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could see the Federal Reserve keeping interest rates higher for some time. The Commerce Department said on Friday that the personal consumption expenditures (PCE) price index increased 0.4%…
By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer spending increased more than expected in April, boosting the economy’s growth prospects for the second quarter, and inflation picked up, which could prompt the Federal Reserve to raise interest rates again next month. The growth picture was further brightened by other data from the Commerce Department on…
By Sam Tobin LONDON (Reuters) -Microsoft is challenging Britain’s decision to block its $69 billion takeover of “Call of Duty” maker Activision Blizzard on the grounds of “fundamental errors” in the assessment of Microsoft’s cloud gaming services. Britain’s anti-trust regulator, the Competition and Markets Authority (CMA), vetoed the deal in April, saying it could hurt…
By James Davey LONDON (Reuters) – Britain’s departure from the European Union has accounted for about a third of the increase in food bills for households since 2019, equivalent to about 250 pounds ($316), researchers from the London School of Economics and other universities said. Britain has been battling inflation for over a year, partly…
MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Friday said the government could acquire up to half of the Mexican unit of Citigroup after the U.S. bank announced plans this week to pursue an initial public offering of the business. Citi said Wednesday it was abandoning earlier plans for a sale of…
By Gabriella Borter and Sharon Bernstein (Reuters) – State legislatures are wrestling with how much to restrict or expand abortion access after the U.S. Supreme Court overturned Roe v. Wade last year. Here is a snapshot of pending and passed legislation seeking to restrict or protect access in 2023. RESTRICTIONS FLORIDA: Florida Governor Ron DeSantis…
By David Lawder DETROIT (Reuters) -The International Monetary Fund said on Friday U.S. interest rates will likely need to remain higher for longer to tame inflation, and Washington needs to tighten fiscal policy to bring down its federal debt. The IMF said in a statement issued after its “Article IV” review of U.S. policies that…
(Corrects to add dropped word in last bullet) (Reuters) – The upcoming Memorial Day weekend is expected to see millions of Americans travel despite tight budgets, kicking off the busy summer travel in the U.S on a high note. Here’s how the Memorial Day travel might look like: ROADTRIPS ** Cheaper gas is pushing more…
