BUENOS AIRES (Reuters) – Argentina’s central bank will raise the benchmark interest rate to 118% from 97% previously, an official source said Monday, adding the country’s currency will be devalued to 350 pesos per dollar in the aftermath of a shock primary election. Sunday’s primary vote, seen as a reliable bellwether for the upcoming presidential…
(Reuters) – Electric-vehicle startup Canoo said on Monday it finalized incentive agreements with the state of Oklahoma and the North American tribe Cherokee Nation, for an estimated value of $113 million over 10 years. As part of the agreements, Canoo said it has already started hiring for its vehicle assembly facility in Oklahoma City and…
JAKARTA (Reuters) – Indonesia said on Monday that U.S. electric carmaker Tesla plans to invest in the manufacturing of battery materials in the Southeast Asian country and will make an announcement in the next few months. Indonesia has for years been wooing Tesla to invest in battery making and car manufacturing in the country, trying…
By Aditi Shah NEW DELHI (Reuters) -Boeing has emerged as the front-runner to secure an order for around 25 wide-body planes from IndiGo, industry sources told Reuters on Monday, as India’s biggest airline deepens its international expansion with new destinations. IndiGo is in talks to buy Boeing’s 787 family of twin-aisle aircraft, which has been…
LISBON (Reuters) – The number of foreign tourists visiting Portugal surpassed eight million in January-June, making it the best first half on record, official data showed on Monday. The National Statistics Institute said nearly 8.2 million foreigners stayed in Portuguese hotels in the period, up from 6.3 million a year ago and 7.4 million in…
(Reuters) – Index provider MSCI said on Monday it will acquire the remaining 66% of Burgiss Group, a New Jersey-based provider of data and analytics solutions for investors, for $697 million in cash. The deal will boost MSCI’s footprint in the private asset data analytics segment, as Burgiss’s dataset covers over 13,000 private asset funds…
WASHINGTON (Reuters) – The U.S. Special Envoy for Yemen will visit the Gulf on Monday “to advance ongoing un-led efforts to expand the truce and launch a comprehensive peace process,” the U.S. State Department said in a statement. Tim Lenderking “will meet with Yemeni, Saudi, Emirati, Omani and international partners to discuss the necessary steps…
By Granth Vanaik (Reuters) – Target is expected to post its first quarterly drop in revenue in about six years when it reports results on Wednesday, as the big-box retailer reels from a shift in consumer spending away from discretionary goods to services. In recent months, consumers have been spending more on services such as…
SAO PAULO (Reuters) – Brazilian President Luiz Inacio Lula da Silva said on Monday he hopes for the United States to want to invest in Brazil so the two countries can work to “drive the energy transition forward.” Lula had already said last week he would ask global leaders, including U.S. President Joe Biden and…
By Sarah Wu and Faith Hung TAIPEI (Reuters) -Apple supplier Foxconn beat estimates for second-quarter earnings on Monday thanks to a booming artificial intelligence sector but retained a cautious outlook for this year due to global economic uncertainties. The world’s largest contract electronics maker downgraded its outlook for full-year revenue to a slight decline from…
