NEW YORK (Reuters) – MSCI will continue to consult with financial market participants on a potential reclassification of Nigeria to standalone market from frontier market after recent changes to foreign exchange trading, the index provider said on Thursday. Nigeria’s central bank last week moved to liberalize the foreign exchange market and unify exchange rates, and…
(Reuters) – Special purpose acquisition company (SPAC) Tastemaker Acquisition Corp said on Thursday its planned $989 million merger with jewelry distributor Quality Gold had been terminated due to challenging market conditions. Market reception for SPACs has been frosty since late 2021 after some companies that went public via the SPAC route performed poorly on the…
(Reuters) – Ford Motor is preparing for a new round of layoffs for its salaried workers in the United States, the Wall Street Journal reported on Thursday, citing people familiar with the matter. The company in March last year announced plans to reduce structural costs of up to $3 billion at its gas-powered vehicle unit….
By Eliana Raszewski BUENOS AIRES (Reuters) -Argentina has directly asked U.S. President Joe Biden for support in the country’s talks with the International Monetary Fund (IMF) to revamp its $44 billion debt deal, in a letter signed by regional leaders from Brazil, Mexico and elsewhere. The South American nation, battling dwindling foreign currency reserves, 100%-plus inflation…
By Jarrett Renshaw (Reuters) -Indian Prime Minister Narendra Modi and U.S. President Joe Biden met in Washington on Thursday and several agreements were to be announced to strengthen economic and diplomatic ties between the two countries and highlight new private sector investments. The following is a roundup of the major announcements: VISAS The Biden administration…
By Lewis Krauskopf (Reuters) – A look at the day ahead in Asian markets from Lewis Krauskopf, U.S. markets correspondent. Asian markets will be waking up to a jolt of central bank rate hikes and looking ahead to a big round of macro data on Friday. The Bank of England surprised many investors on Thursday…
LONDON (Reuters) -Zambia on Thursday confirmed it had agreed a debt restructuring deal with its official creditors, adding it would now seek a quick agreement with its private creditors as well. The deal was announced earlier by a French official, who said Zambia’s public sector creditors had agreed to reschedule $6.3 billion of payments and…
By Daina Beth Solomon MEXICO CITY (Reuters) – Mexican President Andres Manuel Lopez Obrador on Thursday said he will ask incoming Labor Minister Marath Bolanos to meet with mining company Grupo Mexico and a top union leader to attempt to resolve labor disputes stretching back more than a decade. Grupo Mexico, a conglomerate controlled by…
By Lucy Craymer WELLINGTON (Reuters) – As New Zealand Prime Minister Chris Hipkins prepares to lead a trade delegation to China seeking greater access for both the country’s primary exports and emerging sectors such as gaming, producers are diversifying away from their biggest market. Beijing’s attempts to punish neighbouring Australia through trade for perceived intransigence…
By Dan Burns (Reuters) – The number of people filing for state unemployment benefits for the first time held steady at a 20-month high last week, remaining elevated for a third straight week in what may be an early indication of a softening labor market in the face of the Federal Reserve’s aggressive credit tightening….
