RABAT (Reuters) – The Moroccan government said on Thursday it adopted a decree cancelling the value-added tax on agricultural inputs to help lower prices of fresh produce and other agrifoods. Food inflation jumped to 20.1% in February, bringing general inflation to 10.1%, a level unmatched since the 1980s. The measure is in line with efforts…
By Eric Onstad and Niket Nishant LONDON/BENGALURU (Reuters) -JPMorgan Chase & Co has dropped or cut credit lines to a large number of Indian metals clients, sending them looking for new brokers, the head of Nanhua Financial UK told Reuters. JPMorgan declined to comment. Reuters reported last September that JPMorgan had pared back credit to…
By Michael S. Derby (Reuters) – Ongoing stress in the New York City commercial real estate sector is still creating economic headwinds for the region as it nears a complete recovery from the coronavirus pandemic, and it’s unclear when or if the sector will return to its prior strength, the New York Fed said Thursday….
By Sabrina Valle HOUSTON (Reuters) -U.S. oil bosses generally collected huge paychecks last year on the back of high energy prices and record profits, with Exxon Mobil Corp’s <XOM.N> chief executive winning a 52% increase. The largest U.S. oil company on Thursday disclosed Chief Executive Darren Woods was paid $35.9 million last year. Oil company…
(Reuters) – BNP Paribas said on Thursday it has appointed José Placido as chief executive officer of its U.S. operations, effective April 1. José will assume the role of CEO of BNP Paribas USA and will oversee all U.S.-business activities while retaining in the role of CIB Americas’ executive chief, the Paris-based bank said. The biggest…
(Reuters) – Wells Fargo has named Saul Van Beurden as the chief executive officer of its consumer and small business banking (CSBB) unit, effective May 15, it said on Thursday. Van Beurden will continue to report to the bank’s CEO Charlie Scharf. A former JPMorgan Chase executive, Van Beurden joined Wells Fargo in 2019 and…
WASHINGTON (Reuters) – An Air National Guardsman suspected of leaking highly classified U.S. documents will be arrested on Thursday in Massachusetts, a source familiar with the situation told Reuters. The source, who spoke on condition of anonymity, did not elaborate. The FBI did not immediately respond to a request for comment on developments in the…
BEIJING (Reuters) – China’s Foreign Ministry on Thursday sanctioned U.S. Representative Michael McCaul, chairman of the House of Representatives Foreign Affairs Committee, for visiting Taiwan, saying he had sent a “serious wrong signal to Taiwan independence separatist forces.” China views democratically governed Taiwan as its own territory and strongly objects to all high-level engagements between…
LONDON (Reuters) – British finance minister Jeremy Hunt said on Thursday there was no room for complacency in tackling low growth and high inflation after data showed the economy stagnated in February, hurt by strikes among public workers. “The growth numbers show there is absolutely no room for complacency. Inflation is higher than we want,…
By David Shepardson WASHINGTON (Reuters) – The Federal Aviation Administration (FAA) on Thursday said it referred 17 unruly passengers to the FBI for criminal investigation this year, taking the total of such referrals for violent and threatening incidents onboard planes to more than 250 since late 2021. Last month, a bipartisan group of lawmakers made…
