(Reuters) – Argentine radical far-right economist Javier Milei has unexpectedly won the country’s primary vote, shaking up the race for the presidency and likely dealing a fresh blow to the peso. With negative international reserves, inflation over 100% and tight capital controls, Latin America’s third largest economy faces fresh uncertainty ahead of October’s presidential election….
By Doyinsola Oladipo NEW YORK (Reuters) – Casino operator MGM Resorts International is finding Formula One’s inaugural stop in Las Vegas is as much of a draw as its slot machines this year, and it is not the only company realizing that travelers are increasingly seeking out experiences beyond the traditional draws for tourists. Global…
By Siddhi Nayak MUMBAI (Reuters) – India’s so-called ‘bad bank’ set up to buy legacy stressed loans from the country’s lenders has seen such purchases grind to a standstill recently due to disputes over pricing and future liabilities, bankers and industry sources said. Stressed assets worth over 500 billion rupees ($6.03 billion) have been stalled…
BEIJING (Reuters) – Bank of China Ltd, China’s fourth-largest lender by assets, has launched a countrywide exercise to reduce the salary gaps among its employees and mid- and high-level managers in response to Beijing’s “common prosperity” drive, three sources with knowledge of the matter said. President Xi Jinping launched the common prosperity drive in 2021…
By Howard Schneider WASHINGTON (Reuters) – Pessimists watching the Federal Reserve battle inflation have focused on the so-called “last-mile” problem, convinced a full return to the U.S. central bank’s 2% inflation target will require a recession and significant job losses to cool ongoing price rises. History is on their side, with academic studies and other…
A look at the day ahead in U.S. and global markets from Mike Dolan A bruising August for bonds continues to unsettle world markets deep into summer holiday season, with China’s ailing property sector whacking stocks there on Monday and a buoyant dollar hitting many currencies – especially Russia’s rouble. With seasonal trading volumes so…
By Jack Queen (Reuters) -Lawyers for Hunter Biden said in a late Sunday court filing that prosecutors reneged on a plea deal that would have resolved tax and firearms charges against the U.S. president’s son as his father seeks reelection. Delaware federal prosecutors said on Friday that Hunter Biden may be headed for a criminal…
(Reuters) – Retail investors who lost money when Credit Suisse was taken over by UBS in March plan to file a lawsuit challenging the buyout, the Financial Times reported on Sunday. The Swiss Investor Protection Association plans to file the claim in Zurich’s commercial court on Monday on behalf of about 500 Credit Suisse equity…
By Joseph Ax (Reuters) – A Georgia prosecutor probing whether Donald Trump and his allies illegally sought to overturn the state’s 2020 election results is expected to seek an indictment from a grand jury next week. Two witnesses who previously received subpoenas confirmed on Saturday that they have been told to appear before a grand…
By Dan Williams JERUSALEM (Reuters) – Prime Minister Benjamin Netanyahu has offered Israeli military reservists protesting against his judicial overhaul plan a nominal olive branch, cooling his earlier censure of them as concerns for the country’s war-readiness mount. Protest leaders say thousands of reservists have stopped reporting for duty. Among them are hundreds of air…
