By David Ljunggren OTTAWA (Reuters) – Canada’s national statistics agency on Tuesday revealed new weights for the basket of goods and services in its Consumer Price Index, giving more prominence to changes in the prices of food and gasoline. The reweighting, which Statistics Canada carries out every year, has historically had only a marginal impact…
By Michael S. Derby NEW YORK (Reuters) – Federal Reserve Vice Chair for Supervision Michael Barr on Tuesday said the U.S. central bank is at the beginning of exploring how it can move more swiftly when its bank regulators spot issues at banks outside of crisis periods. “We’re not an institution that moves quickly on…
By Tom Perry, Maya Gebeily and Laila Bassam BEIRUT (Reuters) -Carlos Ghosn said on Tuesday he will fight “to the end” in a $1 billion lawsuit the former Nissan chairman has brought against the Japanese carmaker, marking his first such challenge. Ghosn’s lawsuit, which he filed in Lebanon and a copy of which was seen…
BOGOTA (Reuters) – Grupo Argos, Colombia’s largest industrial conglomerate, on Tuesday said it will focus “seriously” on finding a strategic partner once it concludes an exchange of shares in the country’s largest producer of processed foods, Grupo Nutresa. Last week Grupo Argos reached a deal with businesses forming part of Grupo Gilinski, a conglomerate owned…
By Valerie Insinna PARIS (Reuters) – Lockheed Martin has raised concerns with the U.S. Defense Department and Federal Trade Commission (FTC) about L3Harris’s acquisition of Aerojet Rocketdyne, Lockheed’s chief operating officer said on Tuesday. Frank St John told Reuters that Lockheed, Aerojet’s biggest customer, wanted L3Harris to ensure access to rocket motors, fair pricing and…
By Gabriel Araujo PARIS (Reuters) -Brazilian planemaker Embraer on Tuesday notched fresh orders from American Airlines and Spanish carrier Binter for its E-Jets in deals announced at the Paris Airshow that are seen totaling about $1 billion. The new firm orders come amid an influx of deals at the world’s largest air show, which is…
By Brenda Goh and Casey Hall SHANGHAI (Reuters) -Alibaba Group on Tuesday said its CEO and chairman Daniel Zhang will step down from the roles to focus on its cloud division as the Chinese e-commerce giant moves ahead with a plan to split into six business units. Zhang has been concurrently serving in three roles…
(Reuters) -Groundbreaking on U.S. single-family homebuilding projects surged in May by the most in more than three decades and permits for future construction also climbed, suggesting the housing market may be turning a corner after getting clobbered by Federal Reserve interest rate hikes. Still, even with the Fed skipping a rate hike this month for…
By Shreyashi Sanyal and Bansari Mayur Kamdar (Reuters) -German stocks fell on Tuesday as shares of speciality chemicals maker Lanxess plunged after lowering its earnings forecast, while a modest interest rate cut by Beijing did little to lift investor sentiment among Europe’s China-exposed shares. Germany’s DAX index closed 0.6% lower, retreating further from a record…
By Luc Cohen NEW YORK (Reuters) – JPMorgan Chase Chief Executive Jamie Dimon may have ordered a 2019 review of the bank’s relationship with the late financier and sex offender Jeffrey Epstein, the U.S. Virgin Islands said. The U.S. territory, where Epstein owned two neighboring islands, made the claim in a letter made public on…
