By Kylie Madry MEXICO CITY (Reuters) -Mexican distiller Becle, the world’s largest tequila producer, on Thursday posted a 5% drop in second-quarter net profit off the back of decreased volumes and sales in its largest market, the United States and Canada. Net profit fell to 1.33 billion pesos ($77.5 million) from the 1.40 billion pesos…
By Mohi Narayan (Reuters) – China’s demand for petrol is likely to peak as early as next year as electric vehicle sales soar, several analysts say, bringing forward an energy transition milestone for the world’s biggest polluter and a headache for global refiners. The International Energy Agency (IEA) and consultancy Rystad Energy have brought forward…
By Carolina Pulice MEXICO CITY (Reuters) -Walmart’s Mexico and Central America unit on Thursday posted a 5% year-on-year rise in its second-quarter net profit, boosted by slightly higher sales especially in June, though earnings were slightly behind forecasts. Walmart de Mexico, the largest retailer in Mexico, posted a net profit of 11.44 billion pesos ($668…
By Katie Paul and Sheila Dang NEW YORK (Reuters) – Meta Platforms executives are heavily focused on boosting retention on their new Twitter rival Threads, after the app lost more than half of its users in the weeks following its buzzy launch, CEO Mark Zuckerberg told employees on Thursday. Retention of users on the text-based…
By Leika Kihara TOKYO (Reuters) – One of Bank of Japan Governor Kazuo Ueda’s main challenges will be to phase out yield curve control (YCC), which has come under criticism for distorting markets by keeping long-term interest rates from rising. Under YCC, the BOJ targets short-term interest rates at -0.1% and the 10-year government bond…
By Andrea Shalal WASHINGTON (Reuters) -President Joe Biden on Thursday accused the Republican party of “undermining the U.S. military” by allowing Republican U.S. Senator Tommy Tuberville to block more than 300 U.S. military appointments over the Pentagon’s abortion policy. Tuberville, a social conservative from Alabama, began blocking confirmations to senior Pentagon posts in March to…
By Boureima Balima and Moussa Aksar NIAMEY (Reuters) -Niger President Mohamed Bazoum remained held in the presidential palace on Thursday afternoon and it was unclear who was in charge of the country after soldiers on Wednesday evening declared a military coup that sparked widespread condemnation. France, the country’s former colonial power, and the West African…
(Reuters) – Randy Meisner, a co-founder of the Eagles who sang lead on the 1975 hit “Take It to the Limit,” died on Wednesday of complications from lung disease, the band said on its website on Thursday. He was 77. Meisner, a bass player, joined Glenn Frey, Don Henley and Bernie Leadon in forming the…
By Andrea Shalal and Liliana Salgado WASHINGTON/PHOENIX (Reuters) -U.S. President Joe Biden took steps to protect workers from extreme heat and met with the mayors of sweltering cities Phoenix and San Antonio on Thursday as an intensifying heat wave put half of Americans under heat watches and warnings. With this July set to become the…
SHANGHAI (Reuters) – For foreign automakers in China, it is time to double down on a turnaround or cut losses after ceding their leadership of the world’s biggest auto market to local, upstart brands. Announcements from some of the world’s largest automakers in recent days show they are taking a divergent path: some German brands…
