By Akash Sriram (Reuters) -Lyft’s shares fell more than 7% on Wednesday as investors feared the ride-hailing platform’s focus on competitive pricing to gain market share would muddy its path to profitability. The company and its more dominant rival, Uber, have been locked in a fierce price war as they stage a post-pandemic recovery. Lyft…
By Gabriel Araujo SAO PAULO (Reuters) – Fintech Clara is moving its headquarters from Mexico to Brazil after obtaining a central bank license to operate as a payment institution, a move set to boost the firm’s expansion in the country it sees becoming its top market by next year. Chief Executive Gerry Giacoman said in…
JAKARTA (Reuters) – Indonesia’s industry ministry said on Wednesday Japanese carmaker Mitsubishi Motors was planning to invest 5.7 trillion rupiah ($375.25 million) in 2024 to expand its production capacity in the country. The company planned to increase its production capacity to up to 250,000 units per year in 2024 and to start production of the…
WASHINGTON (Reuters) -Fox Business will hold the second debate of the 2024 Republican presidential contest, the Republican National Committee said on Wednesday, making the conservative Fox outlets hosts of the party’s first two debates. It is unclear whether the frontrunner in the Republican race for the White House, Donald Trump, will be at either one….
(Reuters) – Packaged food maker Kellogg said on Wednesday its snacking business Kellanova is expected to report full-year sales between $13.4 billion and $13.6 billion after Kellogg separates into two units at the end of the year. Kellanova — which will house the Pringles, Cheez-It and Pop-Tarts snack brands among others — is also expected…
By Gabriel Burin (Reuters) – Brazil’s consumer prices barely rose on the month in July, a Reuters poll of economists estimated, with an expected drop in food costs countered by a probable rise in gasoline bills after the reinstatement of a federal tax on fuels. The IPCA inflation index, due Friday Aug. 11, is forecast…
(Reuters) -One lucky winner was in possession of a Mega Millions ticket worth a cool $1.58 billion, the largest prize in the game’s history, on Wednesday after purchasing it in Florida and hitting all six numbers in the lottery drawing. The winner purchased the ticket at a Publix Super Market in Neptune Beach, a coastal…
By Nicolás Misculin BUENOS AIRES (Reuters) – Argentina’s Economy Minister Sergio Massa is an unlikely hero for the embattled ruling Peronist party. Under his watch, inflation surged to 116%, the poverty rate hit 40%, dollar reserves ran dry, debt rose, and the peso sunk to record lows. But the 51-year-old lawyer, a political wheeler-dealer, has…
By Arathy Somasekhar HOUSTON (Reuters) – Top U.S. shale oil producers are raising output by pulling more from each well but lack the level of activity to add significant new volumes, a Reuters analysis of investor forecasts showed. The companies that a decade ago upended global oil and gas markets and turned the U.S. into…
By Uditha Jayasinghe COLOMBO (Reuters) – The Central Bank of Sri Lanka has cut the statutory reserve ratio for commercial banks by 200 basis points to 2%, effective Aug. 16, it said on Wednesday. The decision was taken to inject liquidity into the banking system and further reduce the market liquidity deficit on a permanent…
