SAO PAULO (Reuters) – Inflation in Brazil continued to slow down in early May, data from statistics agency IBGE showed on Thursday, in a move that surprised markets and is likely to put more pressure on the central bank to lower interest rates. The local IPCA-15 consumer price index reached 4.07% in the 12 months…
MILAN (Reuters) -Italy’s Armani Group said on Thursday its sales jumped 18% in the first quarter thanks to a rebound in Asia and more modest growth in the United States, where a slowdown is expected in the coming months. The privately-owned luxury group added that its 2022 full year revenues were up 16.5% to 2.35…
WASHINGTON (Reuters) – U.S. Representative Kevin Hern, who leads the largest Republican caucus, said on Thursday that he believed a deal to raise the nation’s debt-ceiling deal was “likely” by Friday afternoon. “We are inching closer to a deal. I think it’s some of the finer points they are working on right now,” Hern told…
By Andrew Mills DOHA (Reuters) – A U.S. government default would trigger an initial pull-back from crypto currencies followed by a “push upward” the CEO of London-based crypto firm Blockchain.com said on Thursday. The U.S. government could fall behind on its bills next month – and even default on its debt – if Congress does…
By Anait Miridzhanian, Bhargav Acharya and Kopano Gumbi PRETORIA (Reuters) -South Africa’s central bank raised its main interest rate on Thursday to a 14-year high, a move Governor Lesetja Kganyago described as “bitter medicine” needed to tame inflation. The bank lifted rates by 50 basis points to 8.25% as it raised its inflation forecasts for…
By Svea Herbst-Bayliss NEW YORK (Reuters) – The activist investor pushing for board seats at Freshpet Inc wants the pet food company to roll back a recent governance change and said it may take the matter to court unless the decision is reversed, according to a letter seen by Reuters. Jana Partners, Freshpet’s largest investor…
WASHINGTON (Reuters) – Contracts to buy U.S. previously owned homes were unchanged in April amid tight inventory, which could delay a recovery in the housing market. The National Association of Realtors (NAR) said on Thursday that the unchanged reading of 78.9 in its Pending Home Sales Index, based on signed contracts, last month followed a…
(Reuters) -Cineworld expects to emerge from Chapter 11 bankruptcy protection in July, the British cinema chain operator said on Thursday, adding that its proposed debt restructuring has the backing of most of its lenders. The world’s second largest movie theatre chain operator after AMC Entertainment filed for U.S. bankruptcy protection in September hoping to restructure…
BERLIN (Reuters) – The German economy was in recession in early 2023 after household spending in Europe’s economic engine finally succumbed to the pressure of high inflation. Gross domestic product fell by 0.3% in the first quarter of the year when adjusted for price and calendar effects, a second estimate from the statistics office showed…
By Asif Shahzad ISLAMABAD (Reuters) – Pakistan has cut its GDP growth estimate for fiscal year 2022-23 to 0.29%, from an earlier estimate of 2%, the national accounts committee said, with a contraction in industrial growth underscoring concern of an acute economic crisis. The country’s growth was stunted by slowdowns in the agriculture, industrial and…
