By Sarah Morland and Isabel Woodford (Reuters) – Peru’s economy is showing signs it could start growing again after shrinking in the first half of this year, the country’s finance chief said on Tuesday, after data earlier in the day confirmed that the country had entered a technical recession. Peru’s gross domestic product (GDP) shrank…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. The word ‘crisis’ should always be used responsibly and judiciously when covering financial markets, business and economics, but are we at that point now with China? Developments in the last 24 hours from the world’s…
(Reuters) -Private equity group TPG Capital has approached accounting giant Ernst & Young (EY) about buying a stake in its consulting arm, Financial Times reported on Tuesday, citing a letter it had reviewed. TPG outlined its plan for a debt-and-equity deal to separate the consulting arm from EY’s audit business in a letter sent to…
(Reuters) – Brazil’s Nubank on Tuesday reported record revenue for the second quarter as the Warren Buffett-backed digital banking firm logged a surge in new customers. The Brazilian lender has been so far insulated from the downturn in the global banking industry as consumers in the key domestic Latin American market continued to gravitate towards…
By Pratik Jain and Dietrich Knauth (Reuters) -Mallinckrodt on Tuesday said it was preparing to seek bankruptcy protection for the second time in three years after struggling to make a required $200 million settlement payment to opioid victims. The drugmaker, one of the largest makers of opioids, said it is negotiating a restructuring support agreement…
By Stephanie Kelly NEW YORK (Reuters) – Oil prices fell over 1% on Tuesday on sluggish Chinese economic data coupled with fears that Beijing’s unexpected cut in key policy rates was not sufficiently substantial to rejuvenate the country’s sputtering post-pandemic recovery. Brent crude futures fell $1.32, or 1.5%, to settle at $84.89 a barrel, while…
By Andrea Shalal LAS VEGAS (Reuters) -Daemein Hargrove, 21, recently dropped plans for a four-year college degree to sign up for an apprenticeship program in Las Vegas that he says has given him higher pay, good medical benefits and a pension. It was made possible by a surge in solar investment fueled by U.S. President…
U.S.-listed China stocks have undergone a significant decline from their 2021 levels, leading CNBC’s Mad Money host, Jim Cramer, to suggest a potential opportunity to include some of these stocks in one’s portfolio. Following a surprising rate cut by the People’s Bank of China, Cramer expressed his belief that the country is working to stimulate…
(Reuters) -The International Monetary Fund (IMF) reached out to the camps of Argentina presidential candidates Javier Milei and Patricia Bullrich to coordinate meetings, a source close to the fund said on Tuesday. Milei, a far-right libertarian who earlier told local radio about the approach, took the most votes in the primary election over the weekend,…
(Reuters) – Hollywood’s striking writers and major studios have agreed to hold talks on Friday for the first time since their strike began over higher pay demands in May, the Writers Guild of America (WGA) said on Tuesday. The Alliance of Motion Picture and Television Producers (AMPTP), reached out to the WGA and requested for…
