By Cassandra Garrison MEXICO CITY (Reuters) – Escalating tensions with farmers may prove a stumbling block for Mexico’s ruling party in next year’s elections, experts said, as resentment builds over low grains prices, a trade conflict with the U.S., and a perceived lack of government support. Elections in June 2024 will not only usher in…
By Rajesh Kumar Singh and Shivansh Tiwary CHICAGO (Reuters) -Delta Air Lines on Tuesday lifted its second-quarter profit outlook and forecast full-year earnings at the high end of its prior guidance on sustained travel demand. Shares rose about 2% in morning trade as the company also revised upward estimates for free cash flow this year….
WASHINGTON (Reuters) – U.S. consumer confidence increased in June to the highest level in nearly 1-1/2 years, but fears of a recession lingered, according to a survey on Tuesday. The Conference Board said its consumer confidence index rose to 109.7 this month, the highest reading since January 2022, from 102.5 in May. Economists polled by…
By Mike Spector, Joseph White and Dietrich Knauth NEW YORK (Reuters) – U.S. electric truck manufacturer Lordstown Motors filed for bankruptcy protection on Tuesday and put itself up for sale after failing to resolve a dispute over a promised investment from Taiwan’s Foxconn. Shares of Lordstown tumbled 35% in trading on the Nasdaq. The company’s…
By Alan Charlish WARSAW (Reuters) – Ryanair expects passenger numbers in central and eastern Europe (CEE) to surge by at least 50% over the next decade, the airline’s manager for the region said, as it looks to dominate in a less-developed market also targeted by Wizz Air. Europe’s biggest low-cost carrier has ordered as many…
By Marcela Ayres BRASILIA (Reuters) -Brazil’s central bank signaled on Tuesday that a majority of its policymakers see a possibility of a “parsimonious” rate cut at its next meeting in August, provided that a more benign inflation scenario consolidates. The minutes of the June 20-21 meeting, where the rate-setting committee known as Copom kept the…
(Reuters) – Manchester United on Tuesday raised its forecasts for annual revenue and adjusted profit, betting on strong commercial and matchday income as the English football club returns to the UEFA Champions League. Manchester United, which is currently in talks to sell itself, said it was expecting revenue of between 630 million pounds ($801.6 million)…
TORONTO (Reuters) – Canada’s annual inflation rate slowed to 3.4% in May on lower prices for gasoline as a result of the base-year effect, while mortgage interest costs remain high, Statistics Canada said on Tuesday. This was in line with what analysts polled by Reuters had expected, down from 4.4% in April. STORIES: Market reaction:…
SHANGHAI/BEIJING (Reuters) – China’s monetary authorities took forceful action against a sliding currency for the first time in nearly eight months on Tuesday, with the country’s state banks acting to put a floor under the yuan even as officials pledged more stimulus for the flagging economy. The People’s Bank of China (PBOC) set a stronger-than-expected…
By Ariba Shahid KARACHI, Pakistan (Reuters) – Pakistani Prime Minister Shehbaz Sharif said on Tuesday he hoped a bailout decision from the International Monetary Fund would come in a day or two, capping off protracted negotiations as the country faces an acute balance-of-payments crisis. Islamabad is racing against time to unlock $1.1 billion under the…
