SAO PAULO (Reuters) – Brazilian retailer Magazine Luiza reported on Monday a second-quarter adjusted net loss of 198.8 million reais ($40 million), blaming the country’s high interest rate for hitting its financial expenses. Losses from the second quarter compare to the company’s 112 million reais net loss posted in last year’s second quarter. Adjusted earnings…
(Reuters) – Digital banking firm Discover Financial Services said on Monday Roger Hochschild would step down as chief executive officer and a member of the board. The company, whose shares fell 5.5% in extended trading, also named board member John Owen as interim CEO and president, effective immediately. In late July, Discover’s shares tanked after…
NEW YORK (Reuters) – Goldman Sachs appointed John Greenwood as its co-head of Latin America and head of investment banking for the region, according to a memo seen by Reuters. The executive will continue to serve as the bank’s co-head of Americas structured finance and take on the added responsibilities alongside Ricardo Mora, co-head of…
By Eliana Raszewski and Jorgelina do Rosario BUENOS AIRES/LONDON (Reuters) -Argentina’s government devalued its currency by nearly 18% on Monday while the benchmark interest rate was raised by 21 percentage points to 118%, the central bank said, as financial markets reeled the day after a shock primary election result. Congressman Javier Milei, a far-right libertarian…
WASHINGTON (Reuters) – A former FBI agent who helped lead the probe of Hunter Biden told congressional investigators that he was not aware of any political interference in the case, though he said higher-ups blocked an interview with President Joe Biden’s son weeks after the 2020 presidential election, transcripts show. In transcripts from a July…
By Rachel Nostrant (Reuters) – Six white former Mississippi law enforcement officers pleaded guilty on Monday to state charges for brutally assaulting two Black men in January, including shooting one in the mouth, court documents showed. The six officers, who called themselves the “Goon Squad” because of their willingness to use excessive force, according to…
(Reuters) – Electric-vehicle maker Canoo posted a smaller-than-expected quarterly loss on Monday on lower research and development costs, sending its shares up 2% in extended trading. The company also unveiled its new lifestyle delivery vehicle 190, that has increased payload load capacity and body length compared with the original lifestyle delivery vehicle 130. Canoo’s loss…
(Reuters) -Private jet charter company Wheels Up Experience said on Monday it was considering strategic alternatives, including filing for bankruptcy protection, sending its shares down over 8% in extended trading. The company also reported a second-quarter net loss of $160.6 million, widening from $92.76 million a year earlier, hurt by weaker demand for private jet…
By Jonathan Stempel (Reuters) -Berkshire Hathaway, the conglomerate run by billionaire Warren Buffett, on Monday disclosed new investments in the homebuilders DR Horton, Lennar and NVR. The investments were disclosed in a regulatory filing that detailed Berkshire’s U.S.-listed stock holdings, which comprise most of its $353.4 billion equity portfolio, as of June 30. All were…
By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever, financial markets columnist. As waves of volatility crashed over emerging markets on Monday, most notably in Argentina and Russia, the focus on Tuesday once again returns to the root of much of the deeper anxiety and uncertainty around…
