By Kylie Madry MEXICO CITY (Reuters) -The Mexican government signed a deal with several aviation unions Friday to purchase the brand of the defunct Mexicana airline for 811.1 million Mexican pesos ($42.41 million), a union spokesman told Reuters. The deal includes rights to use the airline’s brand and the purchase of two buildings, a technical…
By Lucia Mutikani WASHINGTON (Reuters) – The U.S. economy added jobs at a solid clip in December, pushing the unemployment rate back to a pre-pandemic low of 3.5% as the labor market remains tight, but Federal Reserve officials could draw some solace from a moderation in wage gains. Still, the U.S. central bank’s fight against…
By Hilary Russ NEW YORK (Reuters) -Burger chain McDonald’s Corp said on Friday that it will review corporate staffing levels and aim to build more restaurants as part of an updated business strategy. The new plan, announced in a letter from Chief Executive Officer Chris Kempczinski to global employees and seen by Reuters, calls for…
By Deena Beasley (Reuters) -The U.S. Food and Drug Administration on Friday approved the Alzheimer’s drug lecanemab developed by Eisai Co Ltd and Biogen Inc for patients in the earliest stages of the mind-wasting disease. The drug, to be sold under the brand Leqembi, belongs to a class of treatments that aims to slow advance…
By Koh Gui Qing NEW YORK (Reuters) -Wall Street sparked a global rally in stocks on Friday after a crucial U.S. jobs report showed wage growth slowed in December, fuelling investor bets that inflation is easing and that the Federal Reserve need not be as aggressive as some feared. Friday’s data showed the U.S. economy…
By Nell Mackenzie (Reuters) – Investment management firm AQR’s Absolute Return Strategy in 2022 saw its best year since its inception since 1998, a source with knowledge of the matter said on Friday. The $100 billion firm AQR reaped top performances from several of its strategies, taking advantage of strong trends across futures and markets…
By Ankika Biswas and Shubham Batra (Reuters) -Wall Street’s main indexes rallied on Friday as data that showed cooling wages and a contraction in U.S. services activity eased worries over the Federal Reserve’s rate-hike trajectory. The nonfarm payrolls rose by 223,000 jobs in December, data from the Labor Department showed, while a 0.3% rise in…
By David Randall NEW YORK (Reuters) – Star stock picker Cathie Wood’s Ark Invest sold 403,990 shares of embattled crypto-focused bank Silvergate Capital Corp on Thursday as shares in the firm plunged more than 40%, according to disclosures by Ark Invest. The selling nearly liquidated the firm’s share holdings and came from the $645 million…
By Stephanie Kelly NEW YORK (Reuters) – Energy futures for crude oil, refined products and natural gas have plummeted in the new year as traders reconsidered near-term worries over cold weather and fears of supply shortages and dumped contracts. Prices rose last year on worries of Europe freezing due to the loss of Russian fuel,…
BERLIN (Reuters) – Germany’s digital minister recently met Elon Musk to clarify what Berlin expects from Twitter, especially in fighting disinformation, since the Tesla founder took over the social media firm, the digital ministry said on Friday. Digital and Transport Minister Volker Wissing, who was in California at the start of 2023, told Musk that…
