(Reuters) -Deloitte will cut around 1,200 jobs or 1.5% of its U.S. workforce, the Financial Times reported on Friday, citing internal employee communications. The layoffs at the auditing firm will be higher in areas such as the financial advisory business, which has been affected by a slump in merger and acquisition activity, the newspaper said….
By Danilo Masoni and Joice Alves MILAN/LONDON (Reuters) -Short-sellers that bet against European banks are set to lose a billion dollars in April after anticipation of strong quarterly earnings helped the sector to recover from the shock downfall of Credit Suisse. Investors who set up bearish trades in the belief the sector’s stock prices would…
By Chris Mfula LUSAKA (Reuters) – Zambia’s official creditors are close to signing a memorandum of understanding on debt relief, Finance Minister Situmbeko Musokotwane said on Friday. Zambia became the first African country to default on its sovereign debt during the COVID-19 pandemic in 2020, but it has struggled to finalise restructuring talks on external…
By Nelson Bocanegra BOGOTA (Reuters) – Analysts are divided on whether Colombia’s central bank board will hold the interest rate steady for the first time in 18 months or back one more increase in a tightening cycle meant to fight inflation, a Reuters poll showed on Friday. Fifteen of 26 analysts predicted the seven-member board…
WASHINGTON (Reuters) – U.S. business activity accelerated to an 11-month high in April, according to a survey on Friday, which was at odds with growing signs that the economy was in danger of slipping into recession as higher interest rates cool demand. S&P Global said its flash U.S. Composite PMI Output Index, which tracks the…
ANKARA (Reuters) – Turkish President Tayyip Erdogan said on Friday that interest rates will fall as long as he is in power, and that inflation will decline with them, repeating his unorthodox views. Erdogan was speaking in Istanbul weeks before a presidential election on May 14. Some anticipate a shift to more orthodox policies after…
(Reuters) – Chile, the world’s second largest lithium producer, said it plans to transfer control of the production of the mineral essential for electric vehicle (EV) batteries to a new state-owned company. Here are key facts about lithium and EVs: WHAT IS LITHIUM? The silvery-white element is the lightest metal and highly reactive, giving it…
N’DJANEMA (Reuters) – Chad has recalled its ambassador to neighbouring Cameroon in the latest escalation of a dispute over the sale by Exxon Mobil of its oil assets in both countries to Savannah Energy. Chad said in a statement late on Thursday that the president of the landlocked Central African state decided to recall its…
PARIS (Reuters) – French Finance Minister Bruno Le Maire pledged on Friday to take action against food retailers if they do not pass on lower wholesale prices to consumers struggling to cope with the rising cost of living. Global wholesale food prices have been falling but French food retailers and their suppliers agreed a 10%…
MUMBAI (Reuters) – India’s foreign exchange reserves rose for a second week to hit an over nine-month high of $586.41 billion for the week ended April 14, the Reserve Bank of India’s (RBI) statistical supplement showed on Friday. That is an increase of $1.65 billion from the previous week. Reserves had gone up by $6.3…
