By Anant Chandak BENGALURU (Reuters) – South Korea’s economic growth likely slowed a bit last quarter as languishing exports and high interest rates hurt private consumption that accounts for about half of the economy, a Reuters poll of economists found. While exports from Asia’s fourth-largest economy declined in June, imports also fell, indicating a lack…
By Carolina Pulice and Kylie Madry MEXICO CITY (Reuters) – Mexico’s Grupo Financiero Banorte reported on Thursday a 14% increase in second-quarter net profit, hitting 13.09 billion pesos ($764.68 million) on better results in its insurance and annuities and trading units. Both units saw 38% profit boosts. Despite the gains, Banorte still missed an estimate…
KYIV (Reuters) – Ukrainian President Volodymyr Zelenskiy urged his government on Thursday to keep a tight rein on spending in wartime, in a call that resulted in his culture minister, a proponent of several high-profile and costly projects, offering his resignation. “In a time of war like this the maximum amount of state attention and…
By Christopher Bing and Raphael Satter WASHINGTON (Reuters) -A North Korean government-backed hacking group penetrated an American IT management company and used it as a springboard to target cryptocurrency companies, the firm and cybersecurity experts said on Thursday. The hackers broke into Louisville, Colorado-based JumpCloud in late June and used their access to the company’s…
By Suban Abdulla LONDON (Reuters) – British consumers have turned more pessimistic in the face of rising interest rates and high inflation, according to a survey published on Friday which ended a five-month streak of growing confidence levels. Market research firm GfK’s headline gauge of consumer confidence fell to -30 this month from -24 in…
By Rae Wee SINGAPORE (Reuters) – When global commercial real estate services firm JLL found public debt and loan markets were averse to funding a property project in Arizona, it turned to private credit markets and easily got the loan. The $585 million refinancing loan for real estate company Five Star Development was at an…
By Jonathan Stempel NEW YORK (Reuters) – A U.S. judge threw out a $112 million lawsuit by a former senior London-based trader for Citigroup, who accused the bank of falsely implicating him in a criminal probe into foreign exchange price fixing after firing him. The dismissal of Rohan Ramchandani’s civil lawsuit by U.S. District Judge…
By Nandita Bose WASHINGTON (Reuters) – U.S. President Joe Biden’s pick for labor secretary, Julie Su, will be kept on as acting secretary indefinitely, three sources with direct knowledge of the matter said. Su, a former labor activist whose Senate confirmation has been put on ice after all Senate Republicans and two Democrats refused to…
By Timour Azhari, Ahmed Rasheed and Anna Ringstrom BAGHDAD/STOCKHOLM (Reuters) – Iraq expelled the Swedish ambassador on Thursday in protest at a planned burning of the Koran in Stockholm that had prompted hundreds of protesters to storm and set alight the Swedish embassy in Baghdad. An Iraqi government statement said Baghdad had also recalled its…
By Ahmed Rasheed and Timour Azhari BAGHDAD (Reuters) – Less than a year after declaring he had left Iraqi politics, the unpredictable Shi’ite cleric Muqtada al-Sadr has reminded his rivals of the influence he still wields after his supporters stormed and torched the Swedish embassy in Baghdad. Prompted by one man’s plan to burn a…
