MADRID (Reuters) – Spanish media company Prisa said on Friday its second-largest shareholder Vivendi, had obtained the Spanish government’s go-ahead to raise its stake in the publisher of the El Pais newspaper. The Spanish government has given authorisation for Vivendi to exchange the Prisa convertible bonds it acquired in February into equity, Prisa said in…
BRASILIA (Reuters) – Brazilian Finance Minister Fernando Haddad said on Friday that he favored taking a long-term view of inflation and that the central bank could begin cutting interest rates. He added, however, that the government could not pre-empt any decision on changing the inflation targets set by the National Monetary Council consisting of himself,…
MADRID (Reuters) – Spain’s main unions and representatives of employers reached a preliminary agreement on Friday to grant a 4% wage increase across the board in 2023, El Pais newspaper reported, citing unidentified sources close to the negotiation. The agreement also included wage increases of 3% in 2024 and in 2025, the newspaper as well…
By Kannaki Deka (Reuters) – Carvana Co’s shares soared as much as 55% on Friday after the struggling online used-car retailer’s surprise second-quarter profit forecast caught bearish investors on the wrong foot. Carvana endured a turbulent 2022 as the company struggled to offload used cars purchased at higher prices during the pandemic due to weak…
By Ismail Shakil OTTAWA (Reuters) -Canada’s economy added far more jobs than expected in April and the jobless rate stayed near a record low for a fifth consecutive month in a show of continued labor market resilience despite signs of an economic slowdown, data showed on Friday. The economy gained a net 41,400 jobs in…
By Hilary Russ NEW YORK (Reuters) – More job seekers are filling out applications to sling Big Macs at McDonald’s, and Starbucks baristas are staying in their jobs longer, as a cooling economy sends workers back to low-wage restaurant gigs and keeps them there. “We’re seeing the labor situations improving,” McDonald’s Chief Executive Chris Kempczinski…
(Reuters) – Republic First Bancorp said on Friday it cut jobs in its commercial lending unit as the lender prepares to exit its mortgage origination business. The Philadelphia-based regional bank said high costs of running a mortgage origination platform were not allowing it to improve its profitability and sharpen focus on core businesses. The layoffs…
ROME (Reuters) – The United Nations food agency’s world price index rose in April for the first time in a year, but is still some 20% down on a record high hit in March 2022 following Russia’s invasion of Ukraine. The Food and Agriculture Organization’s (FAO) price index, which tracks the most globally traded food…
SYDNEY (Reuters) – Australia’s government is set to cut its forecasts for inflation while also predicting lower unemployment for longer in 2023/24 budget next week, a mix that it hopes will generate much-needed growth in real wages. Treasurer Jim Chalmers will now forecast unemployment of 3.5% for the June quarter of this year and 4.25%…
TORONTO (Reuters) – Canada’s economy gained a net 41,400 jobs in April, entirely in part-time work and ahead of analyst forecasts, Statistics Canada data showed on Friday. The jobless rate held at 5.0%, beating forecasts it would rise to 5.1%. Employment in the goods producing sector grew by a net 6,300 jobs, largely in construction….
