By Eliana Raszewski BUENOS AIRES (Reuters) – Argentine budget airline Flybondi said on Tuesday it would ground two planes due to an inability to access U.S. dollars needed to pay for services outside the country, underlining the strict capital controls facing many companies. Flight cancellations and delays will affect 5,500 passengers between Wednesday and Friday,…
(This June 6 story has been corrected to say Arrival reduced its headcount by 50% in the first quarter, in paragraph 4) (Reuters) – Arrival said on Tuesday it will convert shareholder hedge fund Antara Capital Master Fund LP’s $20 million loan into equity, a move that would help the British electric-vehicle startup lower its…
By Duncan Miriri (Reuters) -Kenya’s national assembly on Wednesday approved President William Ruto’s pick of economist and senior civil servant, Kamau Thugge, as the next central bank governor. Thugge, who served as the principal secretary, No. 2 official, in the finance ministry until mid-2018, was nominated to the post by Ruto last month after serving…
By Prerana Bhat and Indradip Ghosh BENGALURU (Reuters) -The U.S. Federal Reserve will not raise interest rates for the first time in well over a year at its June 13-14 meeting, according to economists polled by Reuters, but a significant minority expects at least one more hike this year as the economy remains resilient. Fed…
By Ismail Shakil and Fergal Smith OTTAWA (Reuters) -Canada’s exports jumped 2.5% in April and hit an all-time high by volume, while imports declined 0.2% partly because of a fall in energy products, Statistics Canada said on Wednesday. As a result, the country’s trade surplus with the world widened to C$1.94 billion ($1.45 billion) in…
BRASILIA (Reuters) – Brazil’s federal government subsidies surged to the highest level in six years in 2022, said the Planning Ministry on Wednesday, in a sharp increase driven by elevated borrowing costs and the implementation of new tax benefits, particularly on fuels. In its annual report on the subject, the Planning Ministry emphasized that subsidies…
MILAN (Reuters) -Volvo Cars launched its EX30 fully-electric small SUV on Wednesday with two battery options and a starting price of around 36,000 euros ($38,500), as carmakers compete with Tesla to make electric vehicles (EVs) more affordable. The EX30 is the smallest SUV to date from the Sweden-based manufacturer and follows the unveiling of the…
By Corina Pons and Helen Reid MADRID/LONDON (Reuters) -Zara owner Inditex said on Wednesday sales of its spring-summer collection gathered pace to jump 16% in May, as the retailer mitigates higher wage costs and keeps customers onside during a cost of living crisis. The world’s biggest fast fashion company reported a better-than-expected 54% rise in…
ZURICH (Reuters) -UBS said on Wednesday it has delayed the publication of its second quarter results until August 31. Switzerland’s largest bank, which is currently completing its takeover of rival Credit Suisse had originally planned to report its earnings on July 25. UBS was considering delaying its quarterly results at least until the end of…
By Aditi Shah, Joanna Plucinska and Tim Hepher ISTANBUL (Reuters) – The diversion of a U.S.-built Air India jetliner to Russia with engine problems has thrust industry tensions surrounding Russian airspace into the spotlight – just a day after the head of a major American carrier predicted an almost identical scenario. A global industry meeting…
